SMART MONEY DIARY
5-Steps Approach
to Successful Passive Investing
It's simple: The more you can save, the more you can invest. Therefore, start with a cash check during a rainy weekend-day and obtain an overview of your personal cash-flow.
Probably the most difficult part - as many might be thinking. But it is not: Keep commissions / fees low, diversify globally and don't try to over-optimise.
You know what to invest in and need to open a brokerage account. Focus on low fees and a wide choice of low-cost products (e.g., exchange-traded funds).
Your brokerage account has been opened, time to implement the auto-pilot investing: set-up a saving plan with products you have chosen.
Your investing is on auto-pilot now. Once a year check if the saving rate can be increased or - in case you hold more than one ETF - if the portfolio mix is still as desired.