Investing can feel intimidating for beginners, especially with so many different asset classes to choose from. The fear of missing out and the lure of quick profits can also push new investors towards scams or overly complex financial products.
I have come across so many stories of people who have lost money buying investment-linked insurance products, in gold and crypto trading, as well as other convoluted schemes. In most cases, beginners tend to fall for the lure of too-good-to-be-true returns.
However, speak to any personal finance expert and they always tell you that investing should be simple and should not take more than five minutes per month. Ask them which product to invest in and their answer is unanimous: exchange-traded funds (ETFs) or index funds.
Since even this can sound alien to beginners, one good option is to join support groups such as non-profit Facebook group SimplyFI Index Investing and Financial Independence, which also offers a Getting Started Guide. Other resources for beginners include reading books by personal finance experts, such as Andrew Hallam's The Global Expatriate’s Guide to Investing.
If you want to initially gain confidence, it is recommended to choose robo-advisory services. If you prefer the do-it-yourself route, invest via regulated low-cost brokerages. You can also seek support from a coach to learn how to navigate these platforms.
In what asset classes do you invest? What are your investment tips? Drop us an email at pf@thenationalnews.com
If your goal is to grow wealth over the long term, you must invest in the stock market. Getty Images
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.
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LEAGUE CUP QUARTER-FINAL DRAW
Stoke City v Tottenham
Brentford v Newcastle United
Arsenal v Manchester City
Everton v Manchester United
All ties are to be played the week commencing December 21.
What vitamins do we know are beneficial for living in the UAE
Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood. Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues. Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity. Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.
Saturday Benevento v Atalanta (2pm), Genoa v Bologna (5pm), AC Milan v Torino (7.45pm)
Sunday Roma v Inter Milan (3.30pm), Udinese v Napoli, Hellas Verona v Crotone, Parma v Lazio (2pm), Fiorentina v Cagliari (9pm), Juventus v Sassuolo (11.45pm)
Monday Spezia v Sampdoria (11.45pm)
What is dialysis?
Dialysis is a way of cleaning your blood when your kidneys fail and can no longer do the job.
It gets rid of your body's wastes, extra salt and water, and helps to control your blood pressure. The main cause of kidney failure is diabetes and hypertension.
There are two kinds of dialysis — haemodialysis and peritoneal.
In haemodialysis, blood is pumped out of your body to an artificial kidney machine that filter your blood and returns it to your body by tubes.
In peritoneal dialysis, the inside lining of your own belly acts as a natural filter. Wastes are taken out by means of a cleansing fluid which is washed in and out of your belly in cycles.
It isn’t an option for everyone but if eligible, can be done at home by the patient or caregiver. This, as opposed to home haemodialysis, is covered by insurance in the UAE.
The Sinopharm vaccine was created using techniques that have been around for decades.
“This is an inactivated vaccine. Simply what it means is that the virus is taken, cultured and inactivated," said Dr Nawal Al Kaabi, chair of the UAE's National Covid-19 Clinical Management Committee.
"What is left is a skeleton of the virus so it looks like a virus, but it is not live."
This is then injected into the body.
"The body will recognise it and form antibodies but because it is inactive, we will need more than one dose. The body will not develop immunity with one dose," she said.
"You have to be exposed more than one time to what we call the antigen."
The vaccine should offer protection for at least months, but no one knows how long beyond that.
Dr Al Kaabi said early vaccine volunteers in China were given shots last spring and still have antibodies today.
“Since it is inactivated, it will not last forever," she said.
UAE squad to face Ireland
Ahmed Raza (captain), Chirag Suri (vice-captain), Rohan Mustafa, Mohammed Usman, Mohammed Boota, Zahoor Khan, Junaid Siddique, Waheed Ahmad, Zawar Farid, CP Rizwaan, Aryan Lakra, Karthik Meiyappan, Alishan Sharafu, Basil Hameed, Kashif Daud, Adithya Shetty, Vriitya Aravind
What is graphene?
Graphene is extracted from graphite and is made up of pure carbon.
It is 200 times more resistant than steel and five times lighter than aluminum.
It conducts electricity better than any other material at room temperature.
It is thought that graphene could boost the useful life of batteries by 10 per cent.
Graphene can also detect cancer cells in the early stages of the disease.
The material was first discovered when Andre Geim and Konstantin Novoselov were 'playing' with graphite at the University of Manchester in 2004.
