It’s common for people to feel confused or intimidated by the idea of investing. to generate income.
Beginners often feel lost in the noise of advice and don’t know what their first move should be. They feel overwhelmed about where to begin their investing journey
It’s important to start with sources that teach the basics of simple investing. There are plenty of free online resources, but novice investors need to be careful about who they are learning from and what their motives are, says Carol Glynn, founder of Conscious Finance Coaching.
“YouTube can be a great resource, but I would recommend starting with very basic courses that focus on long-term investing strategies over chasing short-time quick wins. Don't leap straight into complex investing until you have understood and mastered the basic concepts and habits,” she says.
“Seek out independent providers whose motivation is to educate instead of free providers who earn based on commissions as there is a risk their advice will be biased towards the products they earn commissions from.”
Blair Hoover, founder of advisory Choose Your Own Finance, says the single best resource for a beginner in the UAE is SimplyFI Index Investing and Financial Independence, a non-profit Facebook group. The community is volunteer-run, free and rigorously moderated to ensure all content adheres to global best practices in passive, long-term investing, she adds. New investors can download their Getting Started Guide directly from the pinned posts.
Ms Hoover also cites personal finance author Andrew Hallam'
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