Go­ing Full Robo

A beginner’s guide to get­ting started — it re­quires noth­ing more than 15 min­utes, a smart­phone and a thumb. Six Park CEO Pat Gar­rett shares his top tips.

Virgin Australia Voyeur - - EXEC STYLE -

1 Plan your bud­get

Fig­ure out how you can stash some money and get your­self started — the sooner you be­gin in­vest­ing, the bet­ter. The value of com­pound­ing in­ter­est over time is mon­u­men­tal.

2 Break your in­er­tia

That means en­gag­ing with your in­vest­ments, even su­per or sav­ings. How are they per­form­ing? What are the fees like? Once your fi­nan­cial sit­u­a­tion is charted, de­cide whether robo is suit­able.

3 Hit the books

That means tak­ing a Face­book time­out for five min­utes and build­ing your fi­nan­cial lit­er­acy. Know about ETFs and why di­ver­si­fi­ca­tion mat­ters? No? Then that’s this week’s home­work.

4 Re­view robo firms and take an on­line as­sess­ment

That means fig­ur­ing out your risk ap­petite and how long you want to in­vest. An al­go­rithm then de­tails an in­vest­ment strat­egy and risk pro­file.

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