Brianna Parkins: Lures and pitfalls of speculating on stocks and shares

According to MiFID investment firm data analysed by the Central Bank, in the short time between December 2019 and April 2020 the average number of retail accounts opened jumped a whopping 116 per cent. In 2021, Schwarb said 15 per cent of American investors had only started in the previous 12 months, dubbing the millennial-heavy cohort Generation Investor .

Then, in 2022, Wall Street had its worst year since 2008, thanks to a multitude of factors including the invasion of Ukraine, rising interest rates, soaring inflation and the ongoing Covid-19 crisis in China. So where does this leave the Irish members of Generation Invest who jumped into the markets in the pandemic, excited by early success?

Adrian was encouraged by the 30 per cent gains he made on the “about €300 deposited” in August 2020. “Then 12 months ago I decided to put 10 grand in. Awful timing,” he conceded.“There was more thought to it than that though. We had just got a new car on PCP finance and the thinking was that if we made that investment, by the time the PCP contract was up, we might have a good chunk of the final payment earned.

Online platforms like trading212, eToro, Robinhood and Revolut make it easier to monitor and buy securities with a click of a button. But investors also need to keep an eye out for non-trading fees like how much it costs you to withdraw from your account and inactivity fees. Aside from withdrawal fees, beginner investors need to be aware of the tax bill that might also eat into their precious gains.

Simran Kaur from Girls That Invest demystifies finance jargon for her 300,000-strong audience made up of people long ignored by traditional investment gurus – young women, people of colour and working-class cohorts.Kaur was frustrated that financial advice targeted at women was based around saving money instead of growing it through investments, which has the potential to add up to a lot more than that €500 a year scrimped from making coffee at home.

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