Greetings!
You are part of a growing community of over 1300 Women's Financial Learning Centre alumni, supporters, colleagues and friends who receive Financial Empowerment Quarterly. Here, we share ideas, inspiring stories and tips with our subscribers.
If you think that you received this email in error, or if you want to unsubscribe, you can use the SafeUnsubscribe link at the bottom.
And don't miss your Coupon at the end!
|
Plan for Good Times and Bad 
An investment plan for all seasons
I've been a financial professional for years and even though I know how market trends work, it still hurts to see a temporary drop in my investments. It's natural to feel some trepidation or even pain, especially when bad financial news is splashed all over the papers. But we all need to remember that markets move in cycles and those of us with well-designed, well thought out investment plans are better prepared to ride the market waves.
Like everyone else, my stocks are taking a hit right now but I only invest in stocks for long term goals. I won't be taking money out of my RSP investments (which are 100% in stocks and stock mutual funds) for at least 20 years, by which time we'll have moved through a few more investment cycles. I keep money for short term goals and emergencies in high interest savings accounts. That money is relatively safe, and totally accessible, so whatever the economy does short-term, I know I can get through it.
My investment plan suits my short and long term needs. And it works during good economic times and bad. So I don't worry.
Without a plan, I can imagine I'd be tempted to start dumping stocks, moving money and generally causing myself grief. An investment plan keeps me from doing something that I'll regret later. Being smart about investing, and feeling confident that you are doing the right things with your money, is all about educating yourself, making a suitable plan and sticking to it.
|
Build Your Own Financial Plan 6 Steps to Investment Success
To build a personalized investment plan, here's a process you can go through for each of your goals, such as: retirement, saving for a house, vacation, etc.
Do your investments suit your life? It's a big question. And an important one. To answer it, you have to know what you really want out of life, how you define success, and how to use your money to achieve your goals. Here are the steps for making sure your investments are well matched to your goals and your life.
1. Know why you are investing, what is the money for? Are you saving for retirement, for a house downpayment or a vacation? Each of your goals will have a unique investment plan.
2. Figure out when you think you will need to take the money out of the investment to achieve your goal. Will you need the money in 1 year? 5 years? 20 years?
3. Learn the basics of how cash, bond, stock and real estate investments work. You don't need to know everything, but you do need to know what makes one type of investment better suited to your goal than another. (We cover these essentials and more in Build Your Own Financial Plan, and in our basic investing courses.)
4. Choose an asset allocation - this just means, figure out what percentage of your money you want to put into cash, bonds, stocks or real estate investments. This decision comes down to understanding your choices, your time horizon and your risks. (Again, the courses can help with this, as would a financial advisor.)
5. Decide specifically which stock, bond, mutual fund or cash investments to choose, and buy it. You can do this on your own, or with the help of an advisor. (We go over the pros and cons of do-it-yourself investing in the courses too.)
6. Change your plan when your goals change, or when your life changes, not when the market changes. This is key. Your investment plan is goal-centred, not market-centred, and that will be the secret to your financial success.
So, do your investments suit your life? If they do, keep up the great work. If you aren't sure, we can help.
Build Your Own Financial Plan (starts September 23rd) is our most popular and comprehensive 3 month financial education program. It will not only teach you what every woman needs to know about financial planning, but will give you the tools, resources, worksheets, guidance and support to help you build, implement and maintain a basic financial plan. It's easier (and more fun) than you think! Take a minute to look at the Build Your Own Financial Plan course outline.
Not sure if this is for you? Click for more info on a Call in to a sneak preview teleclass for free!
When? September 16th at 6:30 - 7:30 pm PST FYI: Our Investing In Stormy Markets Teleconference sold out the week we announced it! So if you want to ensure your spot on this sneak preview of Build Your Own Financial Plan register now! |
How to Choose an Investment Advisor
Questions and Answers you need to know
Your parents, friends, and colleagues may all have opinions about what you should do with your money in times like these, but do they really know your personal and financial goals? Do they know your current financial reality? Are they qualified advisors in any way?
Finding an advisor who you trust, and who offers the services and expertise you need, can take some time and research. It's best to ask for referrals and interview 2 or 3 potential advisors.
FYI: This list of interview questions and answers is straight out of the chapter on investing in the learning guide for Build Your Own Financial Plan. If you haven't taken the course, consider this a sneak peak. If you have taken the course, but you haven't found an advisor yet, consider this your reminder to start looking.
Remember, even if you work with a financial
advisor, it is up to you to educate yourself so that you can delegate, not abdicate responsibility for your
money. It is in your best interest to become a discerning consumer of financial
products and advice. After all it's your money and your life.
|
|
Make a Strategic Investment this Fall
Women's Financial Learning Centre Alumni tell all
If you are looking for a no-fail investment, education is where it's at. Strategically, you put yourself in a very strong financial position when you know what you really need out of an investment advisor or an investment product.
Here's what some of our alumni had to say about investing in their education this year.
"All the things we worked on in Build Your Own Financial Plan helped us to focus on how we were using money and it helped us begin to talk about money. Going in, I had hoped that it would open things up for us, but I'm blown away at how it did.
And I liked that the course ran a couple of hours every second week because we had time in between to think about the class, talk and do the work." ~Karin
"I'm not really sure what I expected, but the course exceeded everything I could have imagined! I came away with confidence, knowledge, and the ability to ask questions and find the information I need." ~ Christine
"At first, I hesitated to go for coaching. I knew I needed the help but the fee seemed like another expense I couldn't afford. However, when I really looked at it, the cost of coaching was less than what I was spending on annual interest charges and that perspective gave me "permission". I'm happy to say that financial coaching was the best investment I have ever made. It paid for itself in the first hour! Sheila's expertise has been the key for me.
So, my advice is to learn how to live well with the money you have, set goals, and plan for your future. It is never too early, or too late, to get on top of your finances. " ~Cindy
The Women's Financial Learning Centre approach to financial education is simple. Get real about where you are at right now. Get ready - learn the basics you need to succeed. And get going. Take well thought out action towards living your best life.
Each of our courses and coaching programs follow that model. And every year, more and more women build confidence and know-how, and prove that the model works!
Call a financial coach, or take a course now.
Alumni, if you missed the last Alumni Check In you can stay on track by doing it now.
|
The next Financial Empowerment Quarterly will go out in January. Know anyone who could use some financial empowerment? Do them a favour. Forward this on.
We'd love to get your feedback on this issue. And if you have any questions about the Women's Financial Learning Centre coaching packages and courses email us or visit the Women's Financial Learning Centre website.
Sincerely,
Karin and Sheila
Women's Financial Learning Centre
P.S. Did you know that October is both Investor Education Month and Women's History Month? What are you going to do to make history?
|
Did someone forward this to you?
Sign up for this free quarterly ezine!
Click Here to Join Our Mailing List! |
|
