# First time investing advice? **URL:** \ **Category:** Investing\ **Created:** [June 10, 2019, 2:51pm UTC](https://community.emma-app.com/t/first-time-investing-advice/445 "2019-06-10T14:51:25Z")\ **Posts on this page:** 17\ **Page:** 1
**Author:** ![lilli](https://yyz2.discourse-cdn.com/flex030/user_avatar/community.emma-app.com/lilli/32/351_2.png) [@lilli](https://community.emma-app.com/u/lilli)\ **Post date:** [June 10, 2019, 2:51pm UTC](https://community.emma-app.com/t/first-time-investing-advice/445/1 "2019-06-10T14:51:25Z")
What is the one piece of advice you would give a first-time investor or wish you had known before you began investing? ---
**Author:** ![BendikHa](https://yyz2.discourse-cdn.com/flex030/user_avatar/community.emma-app.com/bendikha/32/283_2.png) [@BendikHa](https://community.emma-app.com/u/BendikHa)\ **Post date:** [June 10, 2019, 3:44pm UTC](https://community.emma-app.com/t/first-time-investing-advice/445/2 "2019-06-10T15:44:19Z")
Never invest more money than you can afford to loose. ---
**Author:** ![edoardomoreni](https://yyz2.discourse-cdn.com/flex030/user_avatar/community.emma-app.com/edoardomoreni/32/9_2.png) [@edoardomoreni](https://community.emma-app.com/u/edoardomoreni)\ **Post date:** [June 10, 2019, 4:06pm UTC](https://community.emma-app.com/t/first-time-investing-advice/445/3 "2019-06-10T16:06:01Z")
Are you using Robinhood? 😉 ---
**Author:** ![BendikHa](https://yyz2.discourse-cdn.com/flex030/user_avatar/community.emma-app.com/bendikha/32/283_2.png) [@BendikHa](https://community.emma-app.com/u/BendikHa)\ **Post date:** [June 10, 2019, 4:07pm UTC](https://community.emma-app.com/t/first-time-investing-advice/445/4 "2019-06-10T16:07:21Z")
If I could, I would. In order to use Robinhood you need an American SSN. ---
**Author:** ![edoardomoreni](https://yyz2.discourse-cdn.com/flex030/user_avatar/community.emma-app.com/edoardomoreni/32/9_2.png) [@edoardomoreni](https://community.emma-app.com/u/edoardomoreni)\ **Post date:** [June 10, 2019, 4:08pm UTC](https://community.emma-app.com/t/first-time-investing-advice/445/5 "2019-06-10T16:08:06Z")
Ahhhh, what do you use? I am on WealthSimple. ---
**Author:** ![BendikHa](https://yyz2.discourse-cdn.com/flex030/user_avatar/community.emma-app.com/bendikha/32/283_2.png) [@BendikHa](https://community.emma-app.com/u/BendikHa)\ **Post date:** [June 10, 2019, 4:09pm UTC](https://community.emma-app.com/t/first-time-investing-advice/445/6 "2019-06-10T16:09:01Z")
I’m using Nordnet which is big here in the Nordic and a fintech investment service called Kron. What Kron does it that you pick the field where you want to invest and they do the investing for you. ---
**Author:** ![Hans](https://yyz2.discourse-cdn.com/flex030/user_avatar/community.emma-app.com/hans/32/334_2.png) [@Hans](https://community.emma-app.com/u/Hans)\ **Post date:** [June 12, 2019, 5:44am UTC](https://community.emma-app.com/t/first-time-investing-advice/445/7 "2019-06-12T05:44:50Z")
Investing? Oh that simple = wealthsimple!! The Rules for investing your hard earned money is: The Unexpected Always Happens! Money is the natural home for sharks! No you are not better that the Market! You can only spend your money ONCE! To make money - go with high tech ALWAYS! So, its WealthSimple for investing and Emma for saving money! ---
**Author:** ![lilli](https://yyz2.discourse-cdn.com/flex030/user_avatar/community.emma-app.com/lilli/32/351_2.png) [@lilli](https://community.emma-app.com/u/lilli)\ **Post date:** [June 12, 2019, 7:18am UTC](https://community.emma-app.com/t/first-time-investing-advice/445/8 "2019-06-12T07:18:43Z")
What amount do you recommend someone start off with if they have never invested before? ---
**Author:** ![Hans](https://yyz2.discourse-cdn.com/flex030/user_avatar/community.emma-app.com/hans/32/334_2.png) [@Hans](https://community.emma-app.com/u/Hans)\ **Post date:** [June 12, 2019, 7:43am UTC](https://community.emma-app.com/t/first-time-investing-advice/445/9 "2019-06-12T07:43:19Z")
Ah - let me carry on my Rules = A coach ride is more comfy than walking (don’t DIY savings - but jump-in with everyone else (use an Auto saver like WealthSimple) = Every mickle makes a Muckle! (little and often wins the day!) = Let EMMA lead = sweep any savings into WealthSimple. =Be prepared for unexpected expense (these always happen!) so let EMMA rule your saving contributions! =Believe in technology - go with EMMA!! I hope that gives some ideas 🙂 ---
**Author:** ![DaveTMG](https://yyz2.discourse-cdn.com/flex030/user_avatar/community.emma-app.com/davetmg/32/359_2.png) [@DaveTMG](https://community.emma-app.com/u/DaveTMG)\ **Post date:** [June 12, 2019, 7:58am UTC](https://community.emma-app.com/t/first-time-investing-advice/445/10 "2019-06-12T07:58:35Z")
DaveTMG’s rules: 1. FEES FEES FEES - it is almost never beneficial to pay fees, the stock market is a zero sum game and _on average_ your investments will underperform the market by the amount of fees you pay. Anyone telling you different is trying to make money from you. 2. Maximise your pension and ISA contributions - tax advantaged accounts, don’t give the taxman more than you have to. Even better with employer matching - FREE MONEY. Always take this, it’s like picking winners ahead of time. 3. Pay yourself first and the earlier you start, the better, as you should save at least (the age you start)/2 percent of your income - for life. Start at 20, save 10% each year. Start at 40, you need to save 20% each year. 4. Get out of debt! Especially credit card debt. The only debt you should carry is mortgage debt. Debt is stealing from your future self. 5. The bulk of your long term investment should be in boring safe stuff - well diversified index trackers, such as Vanguard World, government bonds etc. Extremely well paid and resourced fund managers can’t beat the market. You can’t either. 6. Ignore the day to day noise of the stock market. 7. Enjoy life knowing you are better prepared financially than most of the population. ---
**Author:** ![edoardomoreni](https://yyz2.discourse-cdn.com/flex030/user_avatar/community.emma-app.com/edoardomoreni/32/9_2.png) [@edoardomoreni](https://community.emma-app.com/u/edoardomoreni)\ **Post date:** [June 12, 2019, 8:19am UTC](https://community.emma-app.com/t/first-time-investing-advice/445/11 "2019-06-12T08:19:16Z")
> [@DaveTMG](#): > > - Get out of debt! Especially credit card debt. The only debt you should carry is mortgage debt. Debt is stealing from your future self. Student loan? 😮 ---
**Author:** ![DaveTMG](https://yyz2.discourse-cdn.com/flex030/user_avatar/community.emma-app.com/davetmg/32/359_2.png) [@DaveTMG](https://community.emma-app.com/u/DaveTMG)\ **Post date:** [June 12, 2019, 8:27am UTC](https://community.emma-app.com/t/first-time-investing-advice/445/12 "2019-06-12T08:27:15Z")
That’s more of a graduate tax than a loan. ---
**Author:** ![lilli](https://yyz2.discourse-cdn.com/flex030/user_avatar/community.emma-app.com/lilli/32/351_2.png) [@lilli](https://community.emma-app.com/u/lilli)\ **Post date:** [June 12, 2019, 8:30am UTC](https://community.emma-app.com/t/first-time-investing-advice/445/13 "2019-06-12T08:30:22Z")
Great tips @DaveTMG!!! ---
**Author:** ![edoardomoreni](https://yyz2.discourse-cdn.com/flex030/user_avatar/community.emma-app.com/edoardomoreni/32/9_2.png) [@edoardomoreni](https://community.emma-app.com/u/edoardomoreni)\ **Post date:** [June 12, 2019, 11:58am UTC](https://community.emma-app.com/t/first-time-investing-advice/445/14 "2019-06-12T11:58:53Z")
> [@DaveTMG](#): > > That’s more of a graduate tax than a loan. Yeah, I agree. Mine looks so big. 😑 ---
**Author:** ![Hans](https://yyz2.discourse-cdn.com/flex030/user_avatar/community.emma-app.com/hans/32/334_2.png) [@Hans](https://community.emma-app.com/u/Hans)\ **Post date:** [June 12, 2019, 5:05pm UTC](https://community.emma-app.com/t/first-time-investing-advice/445/15 "2019-06-12T17:05:37Z")
This is fun!! I love your list @DaveTMG …but there is one more rule! Money does not bring happiness So the best investment is Love, Friendship and Family Hans ---
**Author:** ![DaveTMG](https://yyz2.discourse-cdn.com/flex030/user_avatar/community.emma-app.com/davetmg/32/359_2.png) [@DaveTMG](https://community.emma-app.com/u/DaveTMG)\ **Post date:** [June 12, 2019, 6:35pm UTC](https://community.emma-app.com/t/first-time-investing-advice/445/16 "2019-06-12T18:35:12Z")
Thanks @Hans, do you do dishes? A guy goes into a seafood restaurant and asks to see the dishes of the day. The waiter wheels over a trolley and the man examines the dishes. “I’ll have the little green squid with the hairy lip, please” says the man. “Okay.” replies the waiter and calls out “Gervais!!” A little French chef appears with a large knife, the waiter instructs the chef to kill the little green squid with the hairy lip. Gervais is just about to slice at the poor squid when he notices a tear running down its face. Gervais is touched and says that he hasn’t the heart to kill the squid. “Not to worry” says the waiter and calls out “Hans!!” at which an enormous German bloke comes out of the kitchen. “Sir”, says the waiter, “this is Hans, the dishwasher. Hans, kill that squid!” The dishwasher wields a huge meat clever and is just about to kill the little green squid with the hairy lip when it cringes back and gives a little cry. “I am sorry, I just cannot kill the squid” Hans admits, his lower lip trembling. “Well sir,” says the waiter, “it just goes to show… That Hans that do dishes, can be soft as Gervais, with mild green, hairy lip squid” ---
**Author:** ![Hans](https://yyz2.discourse-cdn.com/flex030/user_avatar/community.emma-app.com/hans/32/334_2.png) [@Hans](https://community.emma-app.com/u/Hans)\ **Post date:** [June 12, 2019, 6:56pm UTC](https://community.emma-app.com/t/first-time-investing-advice/445/17 "2019-06-12T18:56:02Z")
You make me laugh! That is funny Happy days @DaveTMG Hans (back to the washing up!!)