Investing for Beginners
There’s a lot to learn about investing for beginners and lots of good and bad advice to be found on the internet. If you’re trying to find out how to start investing, you’re likely going to be confused by services and terms to get your head around. In esscense, it’s a minefield and you know you want to be sure what you’re doing with your hard earned cash.
Rather than reinventing the wheel, because I’m far from an expert, I wanted to suggest an option to people that I’m currently using. I feel happy that my money is in good hands and am looking forward to seeing reasonable growth for minimal effort.
Bare in mind, that with all investing endeavours, it’s important to understand that you can lose money as well as gain it. There is a risk involved. If you’re prepared for this, move on.
Wealthify – £50 Referral Code
Wealthify was setup by a group of investment experts, entrepreneurs and software developers that were looking for a way to make investing for beginners easier. They are regulated byt the FCA and offer different account options. I’ve personally setup a general investment account, but they offer an ISA and Junior ISA too for the obvious tax benefits.
As is similar with all investment companies, Wealthify charge an annual fee of 0.6% for managing your investments. However, they don’t charge you to deposit or withdraw money, transfer or close your account as many other companies do.
As well as letting someone else do the hard work of choosing what to invest in, below you can find a Wealthify referral code to get yourself a £50 bonus on a £500 investment.
- Head over to Wealthify using this link to begin setting up an account. (referral)
- Choose the account type you’d like, I chose a general investment account as I already have an ISA this year.
- Chose your initial investment of £500.
- Set your Monthly deposit £0 for now, you can change this later.
- As a beginner, set the investment style to Cautious to minimise losses.
- Review the plan summary
- Complete your registration details and account verification
- Download the App from the appstore of your choice on your phone.
- Organise the deposit. I decided to use my Monzo account as Revolut or Monese weren’t accepted.
- Once your deposit lands in your account you can watch your investment grow.
- After three months, you should see the £50 deposted into your plan.
If you withdraw any money within the first 3 months, you will not be elegable for the Wealthify referral bonus.
