It's Personal Finance Canada What To Do With Found Money
May 26, 2025
Discover how to make the most out of your tax refunds with personalized financial strategies. Explore the balance between immediate needs and long-term goals while navigating uncertain economic times. The speakers emphasize the importance of diversification in investment and the role of consistent savings in retirement planning. Learn tailored approaches for utilizing found money based on your income and preferences, ensuring your financial decisions align with your personal aspirations.
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Purposeful Portfolio Allocation
- Define your investment portfolio's purpose with clear categories like growth, liquidity, safety, and income.
- Assign percentages to these categories to create a personalized, goal-driven investment strategy.
Invest Found Money in Down Markets
- Use market downturns to invest found money via dollar-cost averaging or lump sums when prices are down.
- Buying shares at a discount enhances potential returns as the market recovers.
Risk Tolerance Determines Investment Success
- Not everyone should invest fully for growth despite being young.
- High risk tolerance investments may cause anxiety and lead to poor decisions like premature selling.
