Advertisement
You should have just three key questions, and none of them include an outlook on the stock market.
Q: What questions should I ask my financial adviser at our annual meeting?—Pat Knight, Guelph, Ont.
A: I have just three key questions, and none of them include an outlook on the stock market. First, I ask “What more could I be doing to reach my life goals?” Think holistically about what you want in your life, today, next year and in retirement—travel, new experiences, renovations, a new car. Then take your adviser through those areas and see what advice they have to help you bring those goals to life. Second, ask “How has my portfolio performed versus the benchmark indexes over the last year and over the last five years?” Institutional money managers keep a close eye on this “relative” performance. So should you, because missing by just one or two percentage points can cost tens of thousands of dollars over time. Finally, ask “How can we work better together so I get the most value for my money?” Great advice is worth paying for, but it’s up to you to ensure that you get full value.
Bruce Sellery is a frequent guest on financial television shows and author of Moolala. Do you have your own personal question? Write to Bruce at [email protected]
Share this article Share on Facebook Share on Twitter Share on Linkedin Share on Reddit Share on Email
Which ETFs should you invest in? Which ones best suit your risk tolerance? What about personal ethics? Check out...
The Trump effect and Trumponomics, Shopify’s huge earnings beat, it’s sunny days for Suncor shareholders and more.
Here’s how to get your free ticket to attend two MoneyShow virtual expos.
Should you be paid as a power of attorney? Learn about the compensation rules in Ontario and how to...
You started investing in your 20s, and you feel pretty good about doing it. But now what? Consider impact...
Want an idea of how much tax you paid—or will be paying—for 2024? Here are the federal and provincial...
The federal government’s capital gains inclusion rate increase has yet to become law. There’s a slight chance it may...
Sponsored By
Coast Capital
