Thin Line

Peter Katevatis - May 15, 2017
Many parts of life involve walking a thin line.  Your current and future situation can often come down to a decision made that could have gone either way.  For example, when you chose a major in university did it become the beginning your current car

Many parts of life involve walking a thin line.  Your current and future situation can often come down to a decision made that could have gone either way.  For example, when you chose a major in university did it become the beginning your current career, or the beginning of 4+ years of partying?  When you decided to buy a small condo in Yaletown in the mid-90s was it because you foresaw dizzying gains in real estate or you just wanted a cool place to live?

 

Investments can very often walk that same thin line.  We work hard to earn savings and achieve our goals but often these savings are not earmarked.  Whether it is retirement, a new car, or our children’s education we save for a purpose.  We can accelerate the achievement of our goals if our investments are invested properly.

 

Notice I used the word “properly” not “profitably”?  This is because a proper investment is not always the most profitable.  If you are saving for a retirement 20 years away you need to invest accordingly.  Buying the hot short term fad (marijuana stocks, anyone?) can give you a jump start if you are right, but it can gravely alter your long term plans if things don’t go your way.

 

Having high rates of return are wonderful, but at what risk?  Can you handle (financially and mentally) losses or heightened volatility?

 

These questions, and more importantly the answers, can be identified and dealt with in our Canaccord Wealth Management Discovery Document.  It’s quite a mouthful but it really comes down to putting all of your life goals on paper.  Some of them are easy to draw a box around, “Save $200,000 cash for a down payment”.  Some of your goals might be a little fluffier, “Give back to my hockey association that taught me to persevere and excel under pressure.”

 

Katevatis Discovery Document - Wealth Assessment

 

Whatever your personal and family goals are, they are much easier to attain when they are properly identified.  Let me know if you would like a blank copy of your Discovery Document to get you moving towards your goal in a balanced and organized way.  Leave the thin line walking to your lottery tickets.