Would you like to be on the same financial page with a group of people? Meet regularly with like-minded and fun individuals, and collectively learn about and discuss new financial concepts? Are you tired of labored conversation at dinner parties, where any topic that touches on money is frowned upon ?
Then joining or starting an investment club may be just what the doctor ordered!
Investment Clubs take on many forms, from those who pool their money and invest collectively, to more social meeting forums where guest speakers are regularly invited to entertain and enlighten. Some clubs focus on each memberâs individual financial plan with an eye to put everybodyâs head together and suggest ideas for improvement, and yet others allow members to maintain relative financial anonymity and focuses instead on broader financial concepts.
Given the wide range of clubs and activities available, here are a few guidelines if you want to start an investment club of your own:
The underlying tone of all investment clubs is a social one, so it is imperative that you enjoy the company of the other members! You donât necessarily need to know them all well â having friends recruit new members and accepting referrals can be quite effective â but you have to start somewhere.
Are you a new mom? Getting together with other new moms to form an investment club is a great way to socialize, and to learn about financial concepts that apply to your specific demographic.
Or maybe over drinks you and some other business owners in your association tend to chat about money mattersâ¦here is another like-minded group of people you could formalize the process with.
There is something to be said for attracting members with different backgrounds, too. The more diverse your club membership is, the more each person can bring to the table. So although everybody may have the common bond of being a new mom, colleague, or fellow business owner, hopefully there are also elements of diversity built in.
The way in which members must be on the same page though, is with regards to financial philosophy. If one or two members only want to discuss short-term trading, and others want to discuss retirement plans or insurance, there will only be friction and disappointment on somebodyâs part.
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Ideally somebody can offer up their home or has a line on a quiet place to meet, where interruptions will be minimal and people can linger. Planning a meeting around food is always a great ice-breaker, and sharing food tends to open people up to new ideas and conversation. Depending on the group size and dynamic, you can reserve a private room in a restaurant and all pitch in to have it catered, or everybody can simply bring a dish of something over to a memberâs house for sharing.
Even though you may be well-versed friends, this is a social gathering with a purpose, and that precedent must be set right from the beginning. Formalize the meeting process, and you will be less likely to get off track, both during each meeting, and on the whole.
Here is what the agenda for the first meeting could look like:
Subsequent meeting agendas will hinge on the results of the first meeting, and it is equally important that an agenda be set forth for each meeting, and ideally that it remain the same every time. Formalizing a meeting doesnât have to make it dull â it simply keeps things moving and creates a set of expectations for each member rely on.
This is just enough information to get your club off its feet and into infancy. Where you go from here varies according the membership, desired outcome, and the format decided upon.
Here are a few web resources for you to research investment club topics and formats, or even to find an existing club to join:
The National Association of Investors Corporation
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Great idea, id love to do this, can i suggest meetup.com to find a group of people to attend?
Im the webmaster of Loadedpiggy a money making & earning website, maybe I could start a London group. If anyone from London would like to start an investment club to share ideas and research then give me a shout.
Or maybe someone else with more traffic on there website could start an online group that meet via skype or a small forum.
Investment clubs are a great idea. They're better than fantasy football and can be much more profitable. Be sure to visit financialtales.com too
I encourage people to openly talk about money. The only thing better than socializing with friends, is socializing with friends and making money.
I think this idea is great and thanks Loaded Piggey for suggesting meetup.com.
It is especially rewarding if you can encourage and help one another during this period of turmoil.
Ren
Economic Crisis Cartoon
I have been turning the idea of an investment club in my mind for a few weeks. I will definitely be coming back here if I decide to go through with it.
-Nate
I've also been thinking about this for some time now. Just didn't know where to start. Either starting one or joining one.
You have a very good idea with the world economic situation at this time, it's very good support
The Investment Club Directory is a useful resource for anyone looking to set up or join an investment club in the UK.
The National Investment Club Conference 2009 takes place at the QE2 Conference Centre in Westminster, London, England on 31st October 2009 and runs in association with The World MoneyShow
The conference is FREE to attend and brings together investors and investment clubs from all over the UK, providing a unique opportunity to meet other investors and share ideas, experiences and strategies.
The presentations are led by volunteers from the leading investment clubs in the UK and cover everything from the legalities of setting up a club and managing club accounts; to portfolio management, stock selection techniques and general hints and tips based on their many years' of experience.
For more information:
National Investment Club Conference
Click here to book your FREE ticket online >>
Having your own investment club and having people come together with one mind set to invest. I think that's great. But i'm having a challenge with partnering with other investment clubs, i will appreciate it if i get to meet great minds from other clubs. Please keep me posted with any. Thanks