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 past couple of years has seen a boom in DIY share 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 in whatever small change you have at the end of the week.
Letting the little guy get in on the game to start building wealth has been a game-changer.
But there’s been a change recently. Both Sharesies and Stake, typically the heroes of those small-time investors, have announced big changes to 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 MoneyHub.
For the interview, listen to the podcast here.
If you have a question about this podcast or a question you'd like answered in the next one, come and talk to me about it. I'm on Facebook here, Instagram here, and Twitter here.
Listen to the full interview on the Cooking the Books podcast. You can subscribe on iHeartRadio, Apple Podcasts, or Spotify.
