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Costco Connection | December
FINANCIAL CONNECTION
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© RINAT KHAIRITDINOV / STOCK.ADOBE.COM

No time to lose

What to consider when investing for your future

BY LANA SANICHAR

At Canadian MoneySaver, one of the most popular topics that investors seek advice about is understanding the steps to better there are some basic rules.

So, I reached out to Keith Richards, president and chief portfolio manager at ValueTrend Wealth Management, for insight on the subject. Here are his three tips for anyone investing for their future.

Asset Allocation

Asset allocation means dividing your portfolio’s assets according to your goals, risk tolerance, time horizon and market conditions. The main asset categories are equities, commodities, fixed income and cash. Not all asset classes are appropriate for every investor. For example, an investor seeking income from their investments may want to focus on fixed income. A growth-seeking investor may want to focus on equities. The biggest mistake investors make is overconcentration.

Trend awareness

People say that you can’t time the markets, therefore you should remain invested in equities. This advice is too simplistic. For example, what happens if life forces you to reduce risk? Moreover, if the market has been performing negatively, should you hold onto your stocks? Prolonged bear markets can result in long periods of poor performance. For example: Canadian and US markets only recently began recovering to levels seen two years ago. Who wants to earn nothing from their investments for two years? All investors should learn the basics of trend recognition.

Discipline

Investing involves knowing what, and when, to buy. It also involves knowing when to sell. You need to have structure to help you identify when there is potential opportunity in an investment. Is now a good time to buy? Or are risk levels higher than normal? When is the right time to sell? When do you sell a losing investment? Cutting your losses is just as important as taking your gains!

When it comes to investing, every investor should exercise due diligence and seek professional advice before making any financial decisions.

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