Ndubuisi 'Andy' Egwim argues beginners should not try to time the market. He recommends regular (e.g., monthly) investing and starting with broad diversified funds, then introduces his "Scrubs" investing-readiness checklist (a pre-investment checklist designed to prevent being forced to sell early).
Number two, fear. Should I wait for the perfect time? Most beginners try to time the market. Look, timing is hard. The long term pattern of market is that they trend upwards over time with some ugly dips along the way. So for beginners a simple approach is regular investing, maybe monthly or whatever pattern works for you and that reduces the timing risk and builds the habits. Number three, what if I pick the wrong thing? Now this is why we start with broad diversified funds. If you buy the market, you don't need to be right about one company and you're backing the long term growth of businesses as a whole. Now before you invest even a single pound or penny, I want you to run a quick checklist. This is the checklist I teach in my master classes and also in my book is called the Scrubs framework. Scrubs. So the Scrubs is basically a money wise doctor investing readiness checklist. It's in my book here before every invasive procedure as doctors is scrubbing, before every investment, you should do the same check. So Scrubs protects you from the biggest enemy of investing success, Being forced to sell early when life happens. So here's Scrubs.
