This article explores the importance of sound investment strategies for retirement planning. While newer investment options may be appealing, experts emphasize the long-term benefits of diversification and stability.
Planning for retirement can feel like solving a complex puzzle, with each piece representing a decision that could impact your future. But here’s the good news: It’s never too late to take control. In this series, we aim to simplify the process, providing actionable insights to help you confidently manage your financial future. The options available to Canadians looking to build their retirement savings may be growing, but the fundamentals of sound investment remain the same.
Some Canadians may be tempted to take a closer look at speculative assets, but experts warn that when it comes to retirement savings, slow and steady wins the race. “With speculative assets you can do exceptionally well, or you can lose a ton of money, and that’s why I think speculative investing should be limited to a smaller portion of an investor’s portfolio,” says Jason Heath, an advice-only financial planner at Toronto-based Objective Financial Partners. “Boring, over the long run, has a higher probability of success.” Heath explains that access to more investment tools and apps, alongside social media content from non-experts, has driven many towards riskier assets like cryptocurrencies, ““Although it can be tempting to try to hit a big home run and find something that will magically make you rich, it tends to be a slow, steady process,” he says. “I’ve worked with thousands of clients in my career, and the vast majority have achieved financial independence slowly and surely over a number of years.” Those looking to grow their wealth for retirement are advised to invest in more diversified assets – like exchange-traded funds (ETF) and mutual funds – and more stable assets, like government backed bonds and Guaranteed Investment Certificates (GICs). ETFs trade like stocks on an exchange with lower fees, while mutual funds are managed by professionals and priced at the end of the day, often with higher fee
Retirement Planning Investment Advice Financial Independence Speculative Assets Diversification
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