I have around $450 a month in savings and I would like to take the next step and start investing but I don't know how or what to do?
I would recommend you start by speaking with a financial planner or advisor who can ask the right questions of what you want to achieve?
Depending on your income and the savings you already have you may meet the criteria to purchase a property but having a solid plan should be your first step.
Best of luck
I suggest speaking to a professional about your options to understand how comfortable you are with different investment types and the risk involved in each. Different investments require different initial amounts, ongoing contributions to make it work and also a timeframe for how long you are planning to hold the Asset.
Everyone's investment philosophy is different so it is best that you go into something that you are comfortable with. This will also depend on your goals and objectives. You should speak with a local Financial Planner or you can contact me on the below details if you would like to have a further chat.
Principal Financial Adviser
RP Wealth Management
Level 2, 351 Oran Park Drive, Oran Park 2570
T: 02 *** *** M: 043 *** ***
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