Investing peace – 3 things to consider
The market turmoil of last year made everyone sit up and pay attention. A year later, and with the 2009 RRSP season behind us, it’s time to look back and reflect on our own reaction and actions of the past year. In the winter 2010 issue of Update magazine, Don Nilson, CMA, FCMA reflects on what happened and offers investors three steps to remember & embrace in the long-term stewardship of wealth accumulation, in summary they are:
- Avoid the siren-call of the financial press.
- Prepare a formal financial plan that derives a long-term target rate of return that delivers on your goals.
- Calculate your actual long-term compound return and compare it to the target rate. [sample calculation available under 'article downloads']
Challenging us to think about our ‘TSR’ or total saving rate, Don also cautions investors to examine their ’saving’ vs. ’savings’. The difference being putting money aside vs. the amount of wealth that has been saved. Read Don’s articles on investing and TSR online today.
How have you and your business survived this past year? Did you change your investment strategy? Share your thoughts today and make a comment on this blog post.
