The stock market continues to increase despite lockdowns and restrictions in various states.
Some cashed up Aussies, with time on their hands, are dabbling into share trading. Some do it to relieve their boredom. Others are enticed by the prospect of returns higher than bank interest. Those who have yet to take the plunge are tempted but overwhelmed by the choices of access and plethora of advice on how to get started.
Elson Goh, from EG Financial Services, joined Mike to discuss share trading and explore the rules and ways you can play the market. About 46 per cent of Australians, nine million people, now hold investments other than their primary residence or superannuation. The fastest growing demographic is millennials, who are aged between 25 and 40.
Elson’s tips for getting started:
- Try before you buy. ASX’s Share market Game
- Consider using your bank’s platform versus independent trading platforms
- Flat fee versus percentage costs -DRP
- Nominate how you would like your dividends done
- Participate in the running of the company
Let us know your thoughts by texting or messaging us on socials. Listen to the full chat below!