Don't Be An Ostrich Investor
Posted 04-10-2015 at 07:14 AM by info4yourlife2015
There are many different types of investors: The Adrenaline Junkie, The Fraidy Cat, The Daredevil, The Worrywart. But perhaps the most common type of investor in Canada is The Ostrich.
The Ostrich finds statements annoying and investing too much of a time commitment. There is so much jargon and strategy involved, the whole thing just makes The Ostrich ignore it altogether. The Ostrich knows he should be doing something with his money; indeed, he longs for the gratification that comes with wise and participatory investing. But the task is just too overwhelming to tackle. So he buries his head in the sand.
“Keeping your head in the sand is a dangerous option when it comes to your finances. Staying in the dark about your money is never a good thing. You could be throwing hundreds away in fees and nuisance charges,” says Edward Kholodenko, President and CEO of Questrade Financial Group.
So why are so many Canadians going the way of the Ostrich? There are many reasons: risk averse mindsets, crazy busy lives where other responsibilities always take priority, inaccessibility to traditional wealth management services. These are a few of the most common culprits.
But investment innovation in Canada aims to tackle this problem head on. Industry leader Questrade, for example, has just launched a new online service called Portfolio IQ: professional portfolio management with a starting investment as low as $2000. In fact, all you need is a single dollar to open an account. While most traditional wealth management firms won't work with less than $500,000 in investable assets, Questrade's idea is to provide all Canadians with a customized, professional investment service regardless of assets or income.
The average Canadian doesn't have the time or knowledge to invest for themselves, but they still want investment portfolios to match their life goals. Innovative services like Portfolio IQ can be accessed online and pay special attention to individual goals, risk preferences and investment timelines.
A new kind of investment service aims to gently pull ostriches out of the ground. Don't neglect your hard-earned money any longer.
The Ostrich finds statements annoying and investing too much of a time commitment. There is so much jargon and strategy involved, the whole thing just makes The Ostrich ignore it altogether. The Ostrich knows he should be doing something with his money; indeed, he longs for the gratification that comes with wise and participatory investing. But the task is just too overwhelming to tackle. So he buries his head in the sand.
“Keeping your head in the sand is a dangerous option when it comes to your finances. Staying in the dark about your money is never a good thing. You could be throwing hundreds away in fees and nuisance charges,” says Edward Kholodenko, President and CEO of Questrade Financial Group.
So why are so many Canadians going the way of the Ostrich? There are many reasons: risk averse mindsets, crazy busy lives where other responsibilities always take priority, inaccessibility to traditional wealth management services. These are a few of the most common culprits.
But investment innovation in Canada aims to tackle this problem head on. Industry leader Questrade, for example, has just launched a new online service called Portfolio IQ: professional portfolio management with a starting investment as low as $2000. In fact, all you need is a single dollar to open an account. While most traditional wealth management firms won't work with less than $500,000 in investable assets, Questrade's idea is to provide all Canadians with a customized, professional investment service regardless of assets or income.
The average Canadian doesn't have the time or knowledge to invest for themselves, but they still want investment portfolios to match their life goals. Innovative services like Portfolio IQ can be accessed online and pay special attention to individual goals, risk preferences and investment timelines.
A new kind of investment service aims to gently pull ostriches out of the ground. Don't neglect your hard-earned money any longer.
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