Explore six beginner-friendly investment strategies, including employer retirement plans, robo-advisors, index funds, target-date mutual funds, ETFs, and investing apps, to start your financial journey with confidence.

NerdWallet offers an insightful guide for novice investors looking to explore approachable investment strategies. At the forefront is the 401(k) retirement plan, often hailed as a reliable starting point for building wealth due to its tax advantages and potential employer matching benefits. For those without employer-sponsored plans, the IRA stands out as a strong alternative. Robo-advisors are another convenient option, leveraging low-cost algorithms to manage your portfolio while requiring minimal interaction. Meanwhile, target-date mutual funds adapt investments based on your chosen retirement year, offering a more hands-off approach. Alternatively, index funds and ETFs allow beginners to diversify across markets with lower costs. Lastly, apps like Acorns and Stash demystify investing, providing simplified platforms for rounding up purchases or customising portfolios. Before diving into any of these, it’s crucial for beginners to outline their financial objectives, understand their risk tolerance, and prioritise diversification to mitigate risks for long-term financial success.