Many Canadians have found their investments and portfolios have bounced back since the last economic slowdown and have performed well in 2014. But with the year drawing to a close, and foreseeable changes happening already, here are some areas Canadians should look at to best prepare their investment portfolios for 2015.
Getting into the habit of reviewing your portfolio annually can be beneficial. Not only can you adjust to upcoming changes for the year, it also allows you to stay engaged and updated.
Here are some important questions to ask before the end of the year:
How have your current investments performed this year compared to previous years?
How are your investments performing in terms of desired goals?
What are the projected performances of your investments in the next 5 years?
Are there any emerging trends that can affect or alter your investments in the next year?
What are your investment goals next year? In 5, 10 and 30 years?
Like any business, financial moves need to be reviewed, strategized and re-strategized to ensure the rewards outweigh the risks.