Cooking the Books podcast: What's the best investment for your life stage?

Where you're at in your life can change what's the best investment for you. Photo / File

Each week the NZ Herald and Newstalk ZB's Cooking The Books podcast tackles a different money problem. Today, it's the different ways to grow wealth in different stages of life. Hosted by Frances Cook.

Listen to "Cooking the Books: What's the best investment for your life stage?" on Spreaker.

It might come as no surprise to you that many people believe investing is only for the rich. Heck, even I used to think that.

The Financial Markets Authority has released research on attitudes to investing, and shock horror, older men with high incomes feel the most confident about investing in the financial market.

Women, and younger people with low incomes, are the least confident.

But investing doesn't have to be for the rich; in fact, it's the opposite. Usually, it's the way people become rich in the first place.

What's important is that you pick the right investment for your stage of life.

While many people want to buy a house first up, it requires a huge deposit, and ties you down to one place.

There are actually better options for those who are younger, and want to do something good with their money.

I spoke to Mark Lister, head of private wealth research for Craigs Investment Partners, for the latest Cooking the Books podcast.

We talked about how too much in a savings account can be a bad thing, how to weigh up housing versus shares, and when to consider niche investments.

For the interview, listen to the podcast.

If you have a question about this podcast, or an idea for the next one, come and talk to me about it. I'm on Facebook here, Instagram here and Twitter here.

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