There is nothing so intimidating about investing in stocks that migrant workers are better off looking at other options for making money.
This was the assurance given to 74 foreign domestic workers who attended a talk on Investing in Stocks as part of the ‘Lunch and Learn” financial literacy series conducted jointly by Enrich and KPMG at Hysan Place in Causeway Bay on March 25.
 |
| Speaker Craig Nastanski, a self-made technopreneur and a stock investor, gives an insight into investing in stocks. |
But he hastened to remind them that investing in stocks does not guarantee that one earns money. There are risks involved, and fees that they have to deal with. Thus, it is important for anyone who wants to invest to study and learn the knowledge of investing.
Nastanski enumerated seven steps which he said a FDW needs to consider before investing in stocks, such as knowing your objective, deciding on what kind of stock to buy, doing research on that stock or fund, choosing a broker, buying the stock, asking yourself if you want to consider buying again, monitoring and adjustment.
He also said it is important to save first before investing, and make sure the decision you make is based on research.
Nastanski said investing in stock should be for a long term of at least five years, and the ideal is 10 years.
Over this period, stocks will rise and fall, but over the long term they tend to rise.
It is thus important that you are financially stable and are investing for the longer time to minimize the risk, Nastanski said.
For more details about the Lunch and Learn series and other financial literacy workshops and seminars, like the Facebook page, Enrich.
