Investor Journeys—Andrew MulliganInvestor Journeys—Andrew Mulligan

Tell us about your first investment!

Apart from KiwiSaver, my only real venture into the investment world was when I signed up to Sharesies last year. It was really straightforward to sign up. I didn’t have to go meet with a broker, or provide heaps of paperwork. I also signed up a share buying account through my bank, and bought a small amount of shares on the NZX.

How did you feel after becoming an ‘investor’ for the first time?

A little more empowered would probably be the best way of describing it. Not that I pay a lot of attention to investing trends or the markets, but knowing that my money is working a little harder for me is good.

What do you like about having an investment portfolio?

The most satisfying part about investing for me is seeing the growth of my money when it's invested, compared to if I’d left it in a savings account. Having my savings spread across different markets and sectors seems to be working for me.

What would you do differently, if anything?

I would 100% start earlier and be more proactive. The main obstacle is thinking that you have to have a lot of money to invest. But joining something like Sharesies makes it much easier these days.

You mentioned you set your son up with an investment portfolio. Why was it important to get your son involved with investing?

We set him up with KiwiSaver using money from my late father’s estate, and we’ve recently created a Sharesies Kids Account for him. Eventually, he’ll understand the power of compound interest, and become a little more educated on how diversified investing is a positive way to grow savings.

What would you say to everyday New Zealanders who think you need loads of money to invest?

Start straight away and put in the minimum amount to begin with, just to see if you like it. If you don’t like it, you can always withdraw it and put it in your savings account at the bank. The barriers to start investing are less and less these days, so you don’t need vast sums of money.

What is the best piece of advice you’ve given (or been given) about investing?

Don’t check on your Portfolio every day, and don’t put all your eggs in one basket. Things aren’t always on the positive side. There are falls in the market, but overall your investments will grow. Diversifying your investments means that if things do go a little pear-shaped, you won’t be hit too hard. And if you think you should’ve started yesterday but didn’t, start today!