Money 101  >  Money Myths

"I need to be an expert to invest."

POSTED ON September 05, 2019

The myth

Before you begin your investment journey, some people believe that you need to learn everything about investing so you are fully prepared to make those important decisions.

Why people believe it

When you’re planning to put your money in something, you want to make sure that you make all the right choices to minimize the risk of losing it. Learning enough to be considered an expert is a tempting way to do this.

Is it true?

While actually being an investment expert can give real benefits, it is not necessary to start investing. Learning a bit beyond the basics will be enough in most cases. You can also opt to work with a professional, (example: a fund manager) who can explain clearly the different investments being recommended for you.

The problem with getting to the expert level is how long it will take you to achieve it. The sooner you start investing, the earlier you can start reaping the benefits.

Verdict: False