{"id":4809,"date":"2017-02-06T11:11:53","date_gmt":"2017-02-06T19:11:53","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=4809"},"modified":"2017-02-02T15:52:59","modified_gmt":"2017-02-02T23:52:59","slug":"building-wealth-through-home-ownership","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2017\/02\/building-wealth-through-home-ownership\/","title":{"rendered":"Building Wealth Through Home Ownership"},"content":{"rendered":"<p style=\"text-align: justify;\">If you\u2019re new to financial markets, the thought of jumping right in and taking all your savings with you may seem like a terrifying leap.<\/p>\n<p style=\"text-align: justify;\">There are frequently stories about investments getting wiped out, unexpected crashes and unwise decisions. With all that pressure \u2014 and with so much noise coming out of the financial world \u2014 how can an eager but relatively green investor know which way to go?<\/p>\n<p style=\"text-align: justify;\">Financial experts have different takes on what types of investments you should make, but they all point to the same starting point: To become a savvy investor, you must first learn how investing works.<\/p>\n<p style=\"text-align: justify;\">\u201cForget about performance and start looking at how to invest,\u201d said Adrian Mastracci, a portfolio manager with KCM Wealth Management Inc., a firm that focuses on long term investors.<\/p>\n<p style=\"text-align: justify;\">\u201cYou\u2019re going to go through the trauma of making the first lousy investment. You\u2019re going to lose some money. You\u2019re going to have to learn to look at a loss and say, \u2018It\u2019s time for that loss to go.\u201d\u2019<\/p>\n<p style=\"text-align: justify;\">He suggests approaching your foray into the markets gradually, over the span of a year, so that you train yourself to put your money at risk and learn to deal with the highs and the lows.<\/p>\n<p style=\"text-align: justify;\">To educate yourself, Mr. Mastracci suggests reading a few books on the topic and talking to friends, all while trying to figure out how much time you have to devote to investing and whether you know enough to move forward.<\/p>\n<p style=\"text-align: justify;\">Mr. Mastracci, for example, put together an investment club when he was in university, rounding up some like-minded friends for regular meetings. Each person would bring forward a stock or bond and make a pitch for it. If the others were interested they could go out and buy some shares. If not, they would move on to the next.<\/p>\n<p style=\"text-align: justify;\">He also suggests trying to diversify your investments, buying quality stocks and making your strategy a straightforward one that makes sense to you.<\/p>\n<p style=\"text-align: justify;\">\u201cThis is the time when it\u2019s going to cost you the least amount to make a mistake, this is the time to make it,\u201d he said.<\/p>\n<p style=\"text-align: justify;\">It\u2019s also a good idea not to get overwhelmed by the sheer amount of information available to the average investor, through mainstream media outlets and countless investment websites.<\/p>\n<p style=\"text-align: justify;\">\u201cThere\u2019s never been so much noise, there\u2019s never really been so much (financial) coverage,\u201d said Ernesto Salvi, a financial adviser with Edward Jones in Vancouver.<\/p>\n<p style=\"text-align: justify;\">Over the last four to five years in the US, investors have faced a barrage of uncertainties linked to the financial meltdown, largely reflecting an agonizingly slow recovery from the financial collapse of 2008.<\/p>\n<p style=\"text-align: justify;\">The complications have made it difficult for some new investors to navigate their investment options with any sort of confidence.<\/p>\n<p style=\"text-align: justify;\">When it comes to the actual sectors you should invest in if you go straight to the stock market, what you pick will depend on your comfort level with risk.<\/p>\n<p style=\"text-align: justify;\">If you want to play more offence, Salvi said, you should look at the energy sector, as well as financials, industrials, materials, technology and consumer discretionaries.<\/p>\n<p style=\"text-align: justify;\">If you\u2019d rather take more of a defensive stand, you\u2019d be better off looking at communications, health care, consumer staples and utilities.<\/p>\n<p style=\"text-align: justify;\">When in doubt, buy a balanced fund that includes stocks and bonds, because the mix can shield you from potential downturns.<\/p>\n<p style=\"text-align: justify;\">\u201cYou can buy a balanced fund for as little as $50 a month, so there\u2019s no excuse,\u201d Mr. Salvi said.<\/p>\n<p style=\"text-align: justify;\">He suggests starting as soon as possible, because of the effect of time on compound interest.<\/p>\n<p style=\"text-align: justify;\">An investment of $50 a month at an average rate of return of 8%, for instance, will give you $9,000 in 10 years or $45,000 in 20 years.<\/p>\n<p style=\"text-align: justify;\">An exchange-traded fund, or ETF, is a helpful way to go because it provides diversification with just one trade, which saves on fees and commissions.<\/p>\n<p style=\"text-align: justify;\">Mr. Salvi also cautions against borrowing to invest, which increases your risk because if you incur losses on your investment, that will multiply how much money you owe the lender, and could send you into a debt spiral.<\/p>\n<p style=\"text-align: justify;\">If you start to panic, you can also approach a financial adviser, who can talk you through some of your investments and be a voice of reason.<br \/>\n\u2014\u2014\u2014<br \/>\nHere are some books experts say can offer some helpful tips on investing :<br \/>\n\u2014 \u201cWinning the Loser\u2019s Game,\u201d by Charles Ellis.<br \/>\n\u2014 \u201cThe Elements of Investing: Easy Lessons for Every Investor,\u201d by Burton Malkiel and Charles Ellis.<br \/>\n\u2014 \u201cThe Wealthy Barber,\u201d by David Chilton.<\/p>\n<p><a href=\"http:\/\/business.financialpost.com\/personal-finance\/young-money\/young-money-forget-about-stock-performance-and-focus-on-learning#!\/\" target=\"_blank\">Young Money : Forget About Stock Performance &amp; Focus on Learning<\/a> by Romina Maurino | National Post<\/p>\n","protected":false},"excerpt":{"rendered":"<p>If you\u2019re new to financial markets, the thought of jumping right in and taking all your savings with you may seem like a terrifying leap. There are frequently stories about &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2017\/02\/building-wealth-through-home-ownership\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-4809","post","type-post","status-publish","format-standard","hentry","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Building Wealth Through Home Ownership &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2017\/02\/building-wealth-through-home-ownership\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Building Wealth Through Home Ownership &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"If you\u2019re new to financial markets, the thought of jumping right in and taking all your savings with you may seem like a terrifying leap. 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