How to manage your investments during the pandemic
Adapting to the current environment is more important than ever – especially when it comes to finances. Some of us aren’t spending as much as we used to and are looking at our investments more closely.
Market fluctuation can be caused by a variety of factors, and it’s important to understand how any movement may impact you or your investment plans. Taking time to plan and prepare actionable steps towards meeting your future financial goals can improve your overall financial health and confidence.
To help navigate your investments during the pandemic and other uncertain times, consider these steps from TD Direct Investing:
Gear up for a comeback
As we adapt to new ways of banking, the financial habits we’re learning, tweaking or eliminating right now can have long-lasting benefits. Taking the time to organize your financial records can help you identify opportunities for new ways of saving and help you better understand your money habits. Now is the time to critically analyze and scrutinize your financial portfolio.
Find what works for you
With a solid grasp of your finances, self-directed online investing may help you grow your wealth independently. For example, the TD Direct Investing Learning Centre is a great resource for investors looking to understand the ins-and-outs of investing, whether you’re ready to expand your portfolio or are just getting started.
Eyes on the prize
Getting a head start on organizing your accounts can support a streamlined approach to long-term saving. Start by identifying your goals. Whether that means setting aside dollars for a TFSA or RSP deposit or preparing for a major purchase, knowing what is on the horizon can support smart investing moves.
– News Canada