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Best way to invest small amounts in stock market

  • 30-03-2020 2:13pm
    #1
    Richards1983
    Registered Users Posts: 171 ✭✭


    Hi all,

    I'm interested to put a small amount of money in the stock market, e.g. 2k in Tesla. What's the best way of doing so? Should I go through Davy/Goodbody's?

    Thanks for your advice,
    Con


Comments

  • #2
    dennyk
    Registered Users, Registered Users 2 Posts: 1,715 ✭✭✭dennyk


    Richards1983 wrote: »
    e.g. 2k in Tesla.

    Buying a bunch of one stock is not a good way to invest in the stock market, it's really just gambling. If you want to invest, you want to diversify. The best way to do that with a relatively small amount of money is to put it into a diverse mutual fund of some sort, with whatever asset class balance suits your risk tolerance.

    Brokers like Degiro and Davy sell ETFs, which are exchange traded shares of mutual funds; those can be a good option if you have a smaller amount of money than the lump sum minimums for opening an investment account at a traditional investment firm. However, be sure to do your research on the tax treatment of ETFs, as there can be some caveats (e.g. deemed disposal).


  • #3
    Richards1983
    Registered Users Posts: 171 ✭✭Richards1983


    Many thanks dennyk.

    I hear you on diversification. I'm interested to place a couple of relatively small bets and leave them there for a long time.


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