The current issue of Money Canada is available now and deals with financial literacy and some of the ideas experienced professionals have come to notice. Thanks to James Dean, CEO, I have a lengthy article included within. My article deals with Financial Literacy and Investment
It focuses on four aspects of investing and the field of investment.
- The need to learn the language of finance
- The personal skills required to be successful
- Ignoring the noise
- Noticing that academics are looking for a general theory and have not found it
The last part offers advice as to managing your efforts. What should a literate investor do?
- Define your own success
- Understand compound growth
- Understand capital and yield
- Understand specific products
- Be careful with RRSPs
- Use advisors to fill in your knowledge gaps
- Notice academic ideas but do not rely on them
- Learn about risk
- Learn about yourself
- Do not track performance too closely
Money Canada Limited offers a range of information services. The Magazine is just one. You can connect to others from the main site Money.ca
Take a look. There is a wide range of useful information available. Some of it will matter to you.
Don Shaughnessy is a retired partner in an international public accounting firm and is presently with The Protectors Group, a large personal insurance, employee benefits and investment agency in Peterborough Ontario.