{"id":200,"date":"2017-01-03T16:48:30","date_gmt":"2017-01-04T00:48:30","guid":{"rendered":"https:\/\/mgfadvisory.ca\/news\/?p=200"},"modified":"2018-08-22T16:49:02","modified_gmt":"2018-08-22T23:49:02","slug":"5-new-years-resolutions-for-prudent-investors","status":"publish","type":"post","link":"https:\/\/mgfadvisory.ca\/news\/2017\/01\/03\/5-new-years-resolutions-for-prudent-investors\/","title":{"rendered":"5 New Year\u2019s Resolutions for Prudent Investors"},"content":{"rendered":"

The reality in the financial industry over the past couple years has been chock full of potentially upsetting words like turbulent, unpredictable, and anxious. Not the reality any investor wants to deal with on a regular basis, but reality all the same. <\/span><\/p>\n

But even as the market attempts to correct itself, that doesn\u2019t mean the prudent investor should worry too much about their securities. No, the great thing about our market is we\u2019re free to build a portfolio that suits us. Sure, you\u2019re never going to achieve 100% certainty that a particular fund will blossom to its fullest potential, but that\u2019s why it pays (literally) to be prudent, tactical, and purposeful. <\/span><\/p>\n

With that in mind, as 2017 blooms and we embark on another year of financial planning, here are five New Year\u2019s resolutions to keep in mind when you build your portfolio this year.\u00a0<\/span><\/p>\n

1. Stick to the Plan<\/b><\/span><\/h3>\n

The thin device in our pocket makes it all too easy to keep constant tabs on our investments. It\u2019s a double-edged sword \u2013 when things are growing we\u2019re happy, when things slip we\u2019re frustrated. And frustration can lead to impulsive decisions. Build an investment plan this year that makes sense and then stick to it. Keep your emotions even \u2013 don\u2019t get too high or too low \u2013 and use your best judgment when making decisions that will affect your future. <\/span><\/p>\n

2. Research<\/b><\/span><\/h3>\n

And just how do we build a collection of securities that makes sense for ourselves and our families both now and in the future? Do your due diligence and collect as much research as possible. There are so many choices out there these days that not only will it pay to know more about the fund in which you\u2019re investing, it will make the payoff that much sweeter.<\/span><\/p>\n

3. Diversify<\/b><\/span><\/h3>\n

We tell people all the time to diversify their funds because it\u2019s the best way to eliminate risk. Again, you\u2019re never going to eliminate risk entirely, but if you invest your money in multiple sectors or industries, then your overall chances of growth will increase. This way you won\u2019t feel the sting of a dipping fund as keenly when you own another product that\u2019s going the other way: up!<\/span><\/p>\n

4. Invest In Alternatives Methods (Like Life Insurance)<\/b><\/span><\/h3>\n

Alright, back to our roots. We talk a lot on the blog about life insurance, and we can never stress this enough: permanent life insurance can be a valuable investment both at the end of your life and while you\u2019re still around to enjoy it. Investing in life insurance and employing the bank on yourself method<\/span><\/a>allows you to invest dollars into tax exempt policies at favourable rates.<\/span><\/p>\n

5. Seek Advice. And Then Seek More Advice.<\/b><\/span><\/h3>\n

One thing we\u2019ve learned over the years is that people in the lower mainland are initially reluctant to talk about their family\u2019s finances. There are a lot of reasons for it \u2013 money can be a stressful conversation point, particularly living in such a relatively expensive corner of the world \u2013 but that doesn\u2019t mean we should let our finances control our emotions. Whether you\u2019re coming to an advisor or simply getting advice from a trusted friend, the more you know about the financial sector, the better equipped you\u2019ll be to make prudent, and hopefully lucrative, decisions. <\/span><\/p>\n

Want a hand planning your finances in 2017? Give us a call!<\/span><\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"The reality in the financial industry over the past couple years has been chock full of potentially upsetting words like turbulent, unpredictable, and anxious. Not the reality any investor wants to deal with on a regular basis, but reality all the same. But even as the market attempts to correct itself, that doesn\u2019t mean the…

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