This article explores the importance of taking the first step in your investing journey, as initially shared in the October How To Money newsletter (sign-up here).

Dear How To Money Reader, 

I hope you’ve had a wonderful month and are enjoying some sweet post lockdown freedoms.

Today’s piece is for those sitting on the sidelines, because sometimes we all need a little nudge to get started. And if you’re already an investor, is there someone in your life that needs a helping hand to take that first step?

Taking the first step in your investing journey can be tough. It might feel like you’re stumbling around in the dark trying to throw a dart at a target.

Although investing can be distilled down to some simple concepts and strategies, it often looks like a tangled web until you actually get started.

Just because something is simple, does not mean it’s easy.

The thing is, you can’t just wait until the situation is perfect, the time is right or you have all the information, because that will never happen.

You’re going to need to take that first step, without being able to see the top of the staircase. Just take it one step at a time, and commit to learning as you go.

I can point you in the direction of countless resources and tools to help you (and I’ve got 100’s of hours of free financial education content on How To Money, The Australian Finance Podcast & Rask Education), but this isn’t necessarily going to help you take that first step. 

I’ve spoken to many people that have learnt everything they possibly can about investing, but are still hesitant in getting started for a long list of reasons. It’s important to identify and label any thoughts and emotions that are holding you back, and actually face them.

Don’t let them become backseat drivers when it comes to your financial future. It’s fine if they come along for the ride, but don’t let them call the shots.

Why are you scared of taking that first step? 

Write down all the reasons that come up, and take some time to reflect, learn and explore each one. 

Maybe it’s because you don’t think you’re smart enough, make enough, give enough, know enough, have enough…each of these are valid and common thoughts to have, but don’t have to hold you back forever. 

Even the investors that appear to have it all figured out, had to start with their very first investment once upon a time.

You have to accept that you’ll never have it all figured out. And that’s perfectly okay. But you do need to take that first step (the smaller the better).