Reviewing Your Personal Finances

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Take a few minutes to think about your current financial situation and then answer the following questions:

  • Have you reviewed your personal finances lately?
  • How much do your debts, savings and/or investments amount to?
  • Do you have a clear idea of your total income and expenses?
  • Do you have specific savings or investment goals?

If you’re not sure about the answer to any of these questions, or if you’re not satisfied with your answers, this brochure can help you.

Choosing Investments

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Think back to the first time you made an investment, for example, by contributing to your RRSP. Then answer the following questions:

  • Which type of investment did you choose (e.g. stocks, bonds)?
  • Are the capital and the return guaranteed? If so, who is offering the guarantee?
  • What are the conditions for cashing in your investment?
  • What is the expected return?
  • How much tax will you have to pay on the gains?
  • Are there other more suitable investments for you?

Many investors can’t answer these questions. Yet this is YOUR money. So, before investing, investigate.

Choosing an Investment Dealer or Representative

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You’re a novice or seasoned investor who could use some assistance on where to place your money. Answer the following questions:

  • Do you know who to ask for investment assistance?
  • If so, is this person authorized to offer the financial products and services you need? How is this person paid (e.g. commission, salary)?
  • What will this person do to help you achieve your investment goals?
  • Are you able to provide this person with a detailed picture of your financial and personal situation so that he/she can recommend the appropriate products and services?

Many investors can’t answer these questions. But since this is YOUR money we’re talking about, you need to do your research before handing it over to anyone

Short Investment Glossary

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Each year, new financial products appear on the market, often with innovative and, at times, complex features. Are you familiar enough with the primary financial products available to make a sound investment choice?

This glossary presents an overview of the most common types of investments based on three fundamental criteria: expected return, liquidity and risk.