Updated: August 4, 2020
Where should I invest? How do I choose the best mutual fund? What bank has the best UITF performance? Which stockbroker has the best recommendation?
If you’re new to investing, then it’s normal to have these questions in mind.
A lot of people actually ask me these, and my answer is always the same…
Invest where it is convenient for you.
If you know someone who works or is connected with a mutual fund company, then go ahead and invest with them. Invest in the UITF of the bank where you already have an account with, or open in the branch nearest you.
Choose the stockbroker whose application process is fast and easy. This is how you decide where to invest, in the literal sense.
Because for beginners, convenience is more important than performance.
Accessible, Easy, and Efficient
We all want high growth for our money. But if opening an account with the best performing company requires effort — then you’ll probably end up procrastinating.
And even if you do manage to open an account and invest, there’s a high chance that you won’t be able to do it regularly.
And that’s unfortunate because when it comes to investing, frequency is essential if you want to accumulate a significant amount in the long-term.
Because investing is not a one-time thing that you do. Just like saving money, it’s a habit that you should practice for many years.
That’s why if it’s your first time investing, then open an account where it’s accessible; where the application process is easy; and where the customer service is efficient.
Don’t worry about missing out on the best performing investment, at least for now.
Instead, worry about missing out on the opportunity to grow your money because it is difficult, takes too much time, and you simply felt lazy.