Are You Ready to Start Investing?
There are many things to consider...
If you ask a financial expert when the best time to begin investing is, you may get a response like, “As soon as you’re able to.” It sounds simple and straightforward, but there’s a lot to consider.
It’s important to save for the future so you have enough money to live comfortably when you retire. Government benefits like the Canada Pension Plan and Old Age Security can supplement your income, but people generally cannot retire based on these benefits alone.
You also need to rely on your own savings, and that’s where investing enters the picture. Popular vehicles for investing include RRSPs, TFSAs and workplace pension plans, since they promote regular investing and are tax efficient.
Setting your goals
Retiring comfortably isn’t the only objective of investing. You could have any number of financial goals to reach along the way. Here are five of the most common:
- Buying a home or vacation property
- Funding a child’s education
- Purchasing a vehicle
- Making home renovations
- Taking a vacation
Maybe you share one or more of these goals, or you might have others as well. Whatever the case, investing wisely – with a strong plan in place – can help you achieve your goals.
That’s where we can provide immense value. At Adams Financial Group will take the time to learn about your financial circumstances and unique short- and long-term goals. We will also create a comprehensive, customized investment plan for you that includes building and monitoring an investment portfolio based on key factors like your financial objectives, time horizon and risk tolerance.
Things to consider before investing
At the beginning of this article we noted the best time to start investing is “as soon as you’re able to.” What does that mean? Before you commit your money to investing, make sure you have funds set aside for emergencies like a job loss or reduced employment income (if, for example, you shift from a full-time to part-time role). Unexpected vehicle repairs, a sudden serious illness in the family and replacing a broken furnace are other examples of emergencies where you may need ready access to cash. Many experts suggest your emergency fund should cover approximately three to six months of living expenses.
If you are interested in speaking with us please give us a call (613) 938-8029.
Article written by Investia Financial Services Inc., a wholly-owned subsidiary of Industrial Alliance Insurance and Financial Services Inc. a life and health insurance company which operates under the trade name iA Financial Group.
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The comments contained herein are a general discussion of certain issues intended as general information only and should not be relied upon as tax or legal advice. Please obtain independent professional advice, in the context of your circumstances. This article was written by Kerry Adams, for the benefit of Kerry Adams, Mutual Fund Representative with the Adams Financial Group, a registered trade name with Investia Financial Services Inc., and does not necessarily reflect the opinion of Investia Financial Services Inc. The information contained in this article comes from sources we believe reliable, but we cannot guarantee its accuracy or reliability. The opinions expressed are based on an analysis and interpretation dating from the date of publication and are subject to change without notice. Furthermore, they do not constitute an offer or solicitation to buy or sell any securities. Mutual Funds are offered through Investia Financial Services Inc. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently, and past performance may not be repeated.
