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Developing an Investment Plan

Knowing where you want to go is one thing. But, mapping the path to get there is another. In today's environment, having an investment plan is essential. It helps keep you on track, disciplined and focused on your investment goals.

 

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Part of a successful investment plan includes:

  • Identifying and prioritizing your goals
    These may include entrepreneurial ventures, education, home purchase or retirement.
  • Determining your time horizon
    Each goal normally has a specific timeline for when money is required. Conservative investments complement short time horizons, while equities are more appropriate for longer term goals (of more than 10 years).
  • Determining your risk tolerance
    Defining your comfort level with risk helps to determine the mix of cash, fixed income and equities that is right for your portfolio.
  • Understanding the investments in your portfolio
    Knowing what you currently own enables you to determine whether you need to make adjustments to achieve your long-term goals.
  • Determining where to invest next
    Once you've built a strong foundation for your portfolio, you can work with your advisor to understand how trends and market events can shape your investment decisions.