Cooking the Books: What's the best investment for your life stage?

Author
Frances Cook,
Publish Date
Wed, 22 Aug 2018, 2:50PM
What's important is that you pick the right investment for your stage of life. Photo / Getty Images

Cooking the Books: What's the best investment for your life stage?

Author
Frances Cook,
Publish Date
Wed, 22 Aug 2018, 2:50PM

Title: What's the best investment for your life stage?

Each week the NZ Herald and Newstalk ZB's Cooking The Books podcast tackles a different money problem. Today, it's the different ways to grow wealth in different stages of life. Hosted by Frances Cook.

It might come as no surprise to you that many people believe investing is only for the rich. Heck, even I used to think that.

The Financial Markets Authority has released research on attitudes to investing, and shock horror, older men with high incomes feel the most confident about investing into the financial market.

Women, and younger people with low incomes, are the least confident.

But investing doesn't have to be for the rich; in fact, it's the opposite. Usually, it's the way that people become rich in the first place.

What's important is that you pick the right investment for your stage of life.

While many people want to buy a house first up, it requires a huge deposit, and ties you down to one place.

There are actually better options for those who are younger, and want to do something good with their money.

I called up Mark Lister, head of private wealth research for Craigs Investment Partners, for the latest Cooking the Books podcast.

We talked about how to much in a savings account can be a bad thing, how to weigh up housing versus shares, and when to consider niche investments.

For the interview, listen to the podcast.

If you have a question about this podcast, or an idea for the next one, come and talk to me about it.

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