One proven way to make gains during financially uncertain times
An investment in knowledge pays the best interest.” — Benjamin Franklin
When it comes to investing, nothing will pay off more than doing the necessary research and analysis before making any investment decisions. Whether you consult a professional advisor or do your research.
Here are a few key areas to consider;
Starting point
Your goals
How are you measuring “success”
Risk tolerance
Time horizon
These are just a few KEY areas you should consider. The trick is giving yourself the TIME to do your research. More often than not those who make measured decisions and invest long-term realize gains. In today’s “instant” society people want fast results and history shows that those who take the time to consult with professionals and do their research come out ahead.
Common mistakes made when not taking the time to do your research; Not thinking through the investment vehicle (You will need time to focus and assess) Not fully understanding the complexity of products and market interactions (consult a professional)
Trying to “time” the market (this is very common) The idea of waiting “for the bottom of the curve” to invest, which refers to waiting for the lowest price possible before investing or waiting to see what others are doing has proven to not be the best strategy. First, you will probably never know when the bottom is, and speculating on that is kin to gambling. Secondly, watching what others are doing
may not serve you as you may not have the same scenario or risk tolerance other people may have.
You are unique, taking the time to assess your situation with your family or a professional as well as doing your research is a time-tested way of knowing you have made the BEST decision you could with the information in front of you.
If you want peace of mind that you made the right decision, TAKE THE TIME to do your due diligence. Concerned that you will be losing potential gains while waiting to decide? Consider an 18-month GIC that will bring you guaranteed gains while you thoroughly consider ALL your options and you can make the decision that is right for YOU and your family.
Momentum Credit Union historically has provided great rates on short-term GICs park your money where you KNOW it will grow. Gain the peace of mind that when you are ready you will have the money available to plan for greater gains. Click the link below for more information on the 18-month GIC
https://momentumcu.ca/personal-services/investments/invest-for-more/
