Each week BusinessDesk and the NZ Herald’s Cooking the Books podcast tackles a different money problem. Today, it’s how to figure out which online platform to invest through. Hosted by Frances Cook.
The last couple of years has seen a boom in DIY shares investors dabbling in the market.
One reason is the increased information out there, and people understanding that they need to invest their money in order to get ahead.
But another key reason is the growth in new, online platforms that let you invest with whatever small change you have at the end of the week.
That’s been a gamechanger, letting the little guy get in on the game and start building wealth.
But there’s been a change recently. Both Sharesies and Stake, typically the hero of those small time investors, have announced a big change on the fees they charge.
Now anyone who’s read my books knows where I’m going with this – fees are a big deal. Many people will ignore them, but they’re a hidden way to lose a lot of money when you’re investing, so you’ve got to keep an eye on them.
So seeing as those all-important fees are changing, it’s time to take stock.
What platforms are out there, and what do you need to know to pick the best one for you?
For the latest podcast, I talked to Chris Walsh from Money Hub.
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