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I am a single 28 year old professional wanting to start investing for a more stable/secure future. Any ideas on where to start? I would also like to be more financially literate. Would you know of any workshops/seminars that would help? Thank you in advance.
Hiya. It's great that you are wanting to embark on developing good money habits and learning more about investments in your 20s (rather than later in life). Where to start? I feel it's really important to establish short term (less than 2 years), medium term (2-7 years) and long term financial goals (7 years +) and divide your savings capacity into these areas. It is really in the long term area that you can focus on investment options that tend to be more growth assets such as property and shares. Growth investments can carry higher returns over the long term but in the short term will be more risky so you will need enough time to weather any downturn. Your next decision with regard to long term investment is if you want your investment inside superannuation (where it is locked away until your retire - minimum age 60) or outside superannuation where it would be accessible before 60 years of age. Depending on how much you are investing for the long term, you may consider direct investment into shares or property (a harder ask..you will need enough for a deposit) or alternatively indirect invest in a managed fund that has exposure to Australian shares and/or international shares.
Have you checked out Asic's website in relation to financial literacy www.moneysmart.org.au? For generic information on investments... google "understanding investments" you will see that banks, insurance companies and industry super funds have some useful information. Not so much about investment options but sets the scene - a great resource in www.cdu.edu.au/centres/aflf/pdf/Understanding_Money_Handbook.pd..
I wish you all the best in your journey to financial freedom:)