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Take Action - Control Your Financial Future Why do people spend more time researching the purchase of a new car or planning a vacation than investing their life savings? Most know they should pay more attention to their investments but don’t know where to start.
According to a recent survey by the Canadian Securities Administrators, 84 per cent of New Brunswickers agree that it is important to build their personal savings and investments.
So where do you start? You start by creating a financial plan which includes clear investment goals outlining what you want to accomplish and by when. Next, think about how much risk you’re comfortable with taking. Once you’ve set your goals and decided how much risk you can take, spend some time learning how different types of investments work. Get a sense of what kind of returns you can reasonably expect for a particular level of risk, and what type of costs are associated with different investments. If you need some guidance, you may want to talk to a qualified financial adviser.
More than half of New Brunswickers are worried they don’t have enough savings to meet their financial needs, yet 41 per cent don’t have any savings or investments set aside for the future. Are you one of them?
The New Brunswick Securities Commission has fair and unbiased resources available anytime. Our brochures and on-line tools can help you find answers. Call us toll free at 1 866 933-2222 for more information.
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