Best strategy to diversify and grow wealth?

[johnhemming]

There has been some really good advice on this thread.

The difficulty is that investing is not necessarily easy. The people who have the money to spend on marketing to get you to give them your money are not necessarily the best places to put the money (and generally that would discourage me).

However, to do stock picking (which is what I do) is not necessarily that easy and involves quite a bit of effort (generally reading and analysis rather than digging a hole with a spade).

Hence funds of some form are generally a good place to go.

Be careful about success in buying stocks that go up because unless you understand why they have gone up they could go down just as quickly.

[vagrantbrain]

Just to add my 2p from my own experiences:

- I was only a couple of years older when I started investing and it's taken me a good 7 or 8 years to find an investment strategy that works for me and lets me sleep at night. Don't be afraid to try different strategies if you find yourself doing something that makes you uncomfortable.

- If you're going to put a lot of your savings in a pension remember you can't take it back out if you decide later to start a business, pay for kids education, buy a second home etc. Sounds obvious, but I chased the tax relief and ended up in the situation where i've got a good 5-figure sum in my SIPP but can't use it towards anything other than the SIPP.

- Live a little! Don't miss out on life experiences like a fantastic holiday to put a couple of thousand away.

[Bubblesofearth]

- Live a little! Don't miss out on life experiences like a fantastic holiday to put a couple of thousand away.

Haha, chance would be a fine thing!