Some people claim you should “fake it until you make it” and, while this may not apply to everything, it could be something to abide by if you are a cautious investor.
For example, if you want to know if you’re any good at investing online, you can sign up to platforms that offer you the opportunity to trade on a simulator. By creating a dummy portfolio, you can trade and invest without risking real money.
Once you get the hang of things, you can buy and sell shares for real. But if you’re not any good at it, you can save yourself the heartache and money, and leave your savings in a professional’s hands.
If you feel confident, get going with the Sanlam iTrade simulator by signing up as an iView client – the first month is free and will cost R200 a year thereafter.
Or you could participate in the JSE’s investment challenge, an online virtual game intended to increase understanding about financial markets among pupils and students. The challenge ends in September.