This post is the beginning of PNG Insight's take on why young Papua New Guineans should start investigating possibilities for investing in overseas share markets - especially the ASX, LSE and NYSE.
Investing is like starting a fire. For the fire to start, three things must be present: spark, fuel and air. It would be absolutely impossible to get the fire started if one of the three is missing.
The investment must also have the right balance of the three starters: Research, Money and Approach.
Research: First, take the 'spark' as the drive to do something for you and your family not only now but also for the future. And that is to *find* out about investing - whether it be investing in the stock market (as intended in this post) or in other areas. Read. Read. Read.
After good research, put the research to test. This is crucial to find out whether the analysis (increase/decrease in price prior to the stock selection) is going to work or not.
One way to do this is to create an online account with the likes of ASX, AIM, ADVFN or any online platform that uses real-time stock market data. You can do this for free and easily. Here is a summation of 5 starter points:
1. Create an online account (e.g. with ASX);
2. Select 1 or 2 companies (you can build the list of companies up over time) using your research;
3. Add the companies to your portfolio;
4. Track your companies (from your research you should have a fair idea about the 'price-sensitive announcements'); and
5. Re-evaluate your research and choose what works for you.
After good research, put the research to test. This is crucial to find out whether the analysis (increase/decrease in price prior to the stock selection) is going to work or not.
One way to do this is to create an online account with the likes of ASX, AIM, ADVFN or any online platform that uses real-time stock market data. You can do this for free and easily. Here is a summation of 5 starter points:
1. Create an online account (e.g. with ASX);
2. Select 1 or 2 companies (you can build the list of companies up over time) using your research;
3. Add the companies to your portfolio;
4. Track your companies (from your research you should have a fair idea about the 'price-sensitive announcements'); and
5. Re-evaluate your research and choose what works for you.
* Note: If you are a beginner doing it yourself (DIY) the steps 2 - 5 can take several years before you are confident with your researches and, ultimately, where to invest your money.
Money: Second, the fuel is your capital - money. Young Papua New Guineans, especially those who earn a fortnightly income, *can* venture into capital investment.
Approach: Third, the right approach to grow your investment is like the oxygen to the fire. Starting a fire from a spark has to be a gentle approach. You'll have to make sure the wind that is blowing around you is not too strong or the soil too wet to get the fire going. Do not rush into an investment.
You do not have to wait till you have got the money. You can start right now. Start with getting the *spark* going! Read about how to Invest in stocks and bonds or anything you could invest in for the long term and retire comfortably.
There are a few challenges of investing if you are living in the country. One of these is finding a broker. This is a topic for another post as it is a different stage - the stage where you are taking action. Right now is all about getting the little sparks going.
Starting is, in fact, the easiest bit. Most of you reading this post are on Facebook or Twitter. Follow the Australian Stock Exchange (ASX) or London Stock Exchange or any account that meets your investment taste.
Read the blog posts and articles about how to find the stock that is going to increase by 100% in the next 5 - 10 years.
Today access to the Internet is really cheap. For example, Telikom PNG data rates can enable you to read widely.
Some useful articles for you:
1) How to make money on YouTube
2) 5 Mobile Phone Codes to Make Your Friends Go WOW
3) 5 Popular Apps in PNG in 2021/2022
4) How to Make Money Using Your Mobile Phones
5) How to Send and Receive Free Credits
____NOTE_____
This post is the first of a planned series on investment in Stock Markets. The series will enable readers to *learn the importance of research and practice* before making a serious investment. Join PNG Insight on Twitter and stay in tune for more of the investment series coming up.
Do you have accounts with Nasfund, Kina Bank, BSP or into POM stock exchange? Check out the latest Financial News, Savings and Loans, and Superannuation updates on PNG Insight.
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