It's time for a financial health check-up
As we head into the last quarter of 2024, it's a great time to give your investment portfolio a health check. Just like looking after your physical health, it's important to make sure your investments are in line with your long-term goals and how much risk you're comfortable with. Here's a guide to help you get your portfolio ready for a prosperous future, with our expert insights to help you feel confident about your decisions.
1.???? Review and adjust your goals
Start by revisiting your financial goals . Have there been any changes in your life that mean you need to adjust your plans? Whether you're saving for retirement, your child's education, or a dream vacation, it's important to make sure your investment strategy matches your goals.
2.???? Evaluate risk tolerance
Your feelings about taking risks with your money might change over time because of your financial situation or what's happening in the stock market. Think about whether the amount of risk in your investments still feels right and make any changes if you need to.
3.???? Tax optimization
Looking for chances to lower your tax bill is a key part of financial planning, especially as the year ends. Check your investments to see if there are any opportunities to lower your 2024 tax bill (maybe through some RRSP contributions or opening an FHSA !).
4.???? Diversify your investments
Spreading your investments across different types of assets, industries, and countries is a smart way to reduce risk and make the most of your money. Our Portfolio Creator ? can help you to make a balanced portfolio by answering a few short questions.
5.???? Rebalance your portfolio
Changes in the stock market can change how much of your money is in different types of investments. It's important to keep things balanced to make sure you're taking the right amount of risk and have the best chance of growing your money.
6.???? Look to the future
The markets are always changing, and with that change comes opportunities. Think about if there are any new trends or industries you want to explore to grow your money in the future. Our built-in research tools can help you determine what might be a good fit for your goals.
The more proactive you can be about preparing for the future, the easier it will be to achieve your financial goals, paving the way for greater success and resilience in the years ahead. Read on for more valuable insights from your Qtrade team!?
This month's recommended reads
How does your time horizon inform your investing strategy?
Whether you're saving for a new home, planning for retirement, or investing in your child's education, knowing the right approach for your time horizon can help you maximize your returns.
领英推荐
The Great Wealth Transfer
As Baby Boomers pass down trillions in personal wealth, understanding the implications for both givers and recipients is crucial. Discover how to navigate this monumental shift and ensure your financial legacy is preserved for future generations.
The latest Q Review
See the top stories from last month, along with the latest Qtrade news and most popular bought and sold securities by Qtraders in the Q Review.
A special offer for you from Qtrade
If you’ve been thinking about trying out self-directed investing, now is the perfect time. Right now, new Qtrade Direct Investing clients who open an account using the promocode SUMMERTRADE2024 can get up to 5% cash back on any new funds transferred in, a $100 sign up bonus and free trades for the remainder of 2024!*
Online brokerage services are offered through Qtrade Direct Investing, a division of Aviso Financial Inc. Qtrade and Qtrade Direct Investing are trade names or trademarks of Aviso Wealth Inc. and/or its affiliates.?
Aviso Wealth Inc. ('Aviso') is a wholly owned subsidiary of Aviso Wealth LP, which in turn is owned 50% by Desjardins Financial Holding Inc. and 50% by a limited partnership owned by the five Provincial Credit Union Centrals and The CUMIS Group Limited. The following entities are subsidiaries of Aviso: Aviso Financial Inc. (including divisions Aviso Wealth, Qtrade Direct Investing, Qtrade Guided Portfolios, Aviso Correspondent Partners), and Northwest & Ethical Investments L.P.?
The information contained in this newsletter was obtained from sources believed to be reliable; however, we cannot guarantee that it is accurate or complete. This material is for informational and educational purposes, and it is not intended to provide specific advice including, without limitation, investment, financial, tax or similar matters. Information, figures, and charts are summarized for illustrative purposes only and are subject to change without notice. All investments are subject to risk, including the possible loss of principal. Unless otherwise stated, mutual fund securities and cash balances are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer that insures deposits in credit unions.?