You’re smart, so of course you read “To Fall in Love with Anyone, Do This”. Perhaps you even did the “36 Questions on the Way to Love” quiz. And, voilà, this brilliant human specimen sitting across the breakfast table from you right now.
All this got us thinking about how to bond better with our, er, bonds…and equities. Like relationships, your portfolio is a long-term commitment too, so pour yourself a cranberry cooler and take our quiz: “10 Questions on the way to wealth”.
- Given the choice of any billionaire in the world, whom would you want as a dinner guest?
For example, Melinda Gates, Warren Buffett or Elon Musk… philanthropic, philatelic or simply phallic? Know your aspirations! Smart investors develop a consistent investing style.
- Do you enjoy the big price moves of momentum stocks (Amazon, Google, Nvidia) or, do you prefer slow and steady dividend generators (Royal Bank, JP Morgan, Apple)?
Pace is everything, darling. Each stock is unique and should fit into your portfolio for a reason.
- What would you regret more: losing money or losing out on making more money?
Or maybe you don’t believe in regret. This question gets to the heart of your risk parameters.
- Would you like your investments to generate income or grow unfettered?
Yield, dividends, capital gains – for every profit there is a tax consideration. Consider which investments to hold in registered versus non-registered accounts.
- If a crystal ball could tell you the truth about your future financial scenario, what would you want to know?
By ‘crystallizing’ your long term financial goals – pun intended – you are more likely to achieve them.
- Have you ever experienced FOMO (Fear of Missing Out)?
Every investor has a memory of that one stock or IPO that got away…but with dating, there’s no shortage of investing options.
- Does a volatile market make you excited to trade your positions or make you afraid to peek at your account balance?
Plan your trade, trade your plan; and if your plan is to stay invested, then maybe it’s best you don’t immediately look.
- If you were to let a close friend manage your money, please share what would be important for him or her to know.
Honest communication is the only way your financial advisor can help you shape your portfolio toward your goals. In the words of Jerry Maguire, “Help me, help you.”
- Complete this sentence: “I wish I could share my money with…”
If you picked me, right answer! Seriously: Think about your end game, estate considerations and the legacy you want to leave.
- Finally, to foster greater trust, stare into the eyes of your investment advisor for four full minutes.
We suggest doing this after the markets close.