Are Your Investments Right for You?

Posted on January 8, 2008 at 12:42 pm
Filed Under Canadian Taxes, Financial Planning, Investment Planning

How can you know that your current investments are right for you?

There are several reasons that knowing the answer to this question is essential for your future success. For example:

You may be holding a mix of investments that are inappropriate for your risk comfort level
You may have multiple portfolio’s in place that are not effectively working together for your success
You may be missing out on planning or tax opportunities that you are not currently taking advantage of

Your Take-Away: Your first step should be to clearly understand and define your financial goals. Without this, you might as well try to drive to Florida from Toronto without a map! Your second priority should be to take a look at your current portfolio to determine if your investments match your recently defined goals. Finally, your third priority is to make the necessary changes as quickly and effectively as possible.

Whether you invest in your own self directed portfolio or have a Professional helping you achieve your goals, an annual review is a very “Must Do” item. No matter how new or old you are to the investment world, you can and will benefit from making sure your portfolio is consistent with your overall financial objectives!

Until next time, have a Terrific Tuesday!

Chris

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