Search

Categories

Word Count

3 tips to help you save and invest


(NC) With all the demands on your finances, it can be difficult to meet your saving and investing goals. But a little discipline, focus and willpower can set you on the right path. Here are some tips to try:  
 
1. Start Slow. Try adopting a marathoner’s mindset when building your investments. Few clock 10K the first time they hit the road. Start out with smaller achievements and work toward your bigger goal.  
 
If the retirement you hoping to achieve feels a long way off, for example, try using a similar approach – setting smaller goals for yourself along the way. An easy first step could be a pre-authorized contribution plan (PAC), which lets you set up automatic, regular contributions to your investments.  
 
Online brokerage RBC Direct Investing also offers another simple option: start with a practice investing account, which lets you learn the basics before you begin investing. 
 
2. Expect to face hurdles. As an investor, you need to be able to handle obstacles. Market cycles, volatility and other challenges can cause you to veer off course or make snap decisions that might not work for you in the long run. A diversified portfolio can often help you deal with market ups and downs.  
 
3. Pace yourself. Hoping for a quick win by jumping on the latest investing trend is like a marathoner sprinting off the start line. Setting your goals and having a plan in place to reach those goals are important to your financial wellbeing.  
 
Checking in regularly on your financial goals and keeping your plan updated as your life moves forward can help you pace yourself to go the distance – and keep you on track to succeed.   
 
Find more investing inspiration at rbcdirectinvesting.com  


Media Attachments Related Posts
Terms of Use

All News Canada content is provided free of charge. Any source/sponsor of the information must also be identified as presented. For articles, credit of usage must be attributed to News Canada with "(NC)" at the beginning of an article or "www.newscanada.com" or "– News Canada" at the end. Images are only to be used with corresponding editorial copy. Usage of News Canada content constitutes your acceptance of these terms and an agreement between you and News Canada.

Disclaimer: Comments and opinions in News Canada content are those of their respective contributors only. The views expressed do not necessarily represent the views of News Canada Inc., its management or employees. News Canada Inc. is not responsible, and disclaims any and all liability, for the content of comments provided by contributors.