A financial plan to put you on the right path
A financial plan is basically a tool that helps an individual or a family meet their needs and manage their overall financial situation throughout their lifetimes and in response to life-changing events. It takes into consideration income, savings, taxation and insurance, and it usually has as its starting point a specific need, such as accumulating funds to buy a house or to retire.
Investment is part of the journey you take as an individual to achieve your goals. To plan your route, you must answer a number of questions that will help you establish an optimal savings plan that will enable you to achieve your goal.
Investor profile
| Goal | Amount needed for your project |
| Investment horizon | Time required to accumulate the amount |
| Savings terms and conditions |
Payment amount and frequency |
| Level of risk tolerance | Amount you can tolerate losing if your investments decrease in value |
| Savings vehicle |
Type of account used |
| Investment products |
Asset classes used to build your investment portfolio in line with your risk tolerance |
Source: FÉRIQUE Fund Management
Depending on your level of financial literacy, you may have the answers to all these questions, or possibly just a few of them. Other factors will affect your plan, such as your age, assets, job stability and income. With all this information, you can set yourself on a path that will allow you to achieve your goal.
A bulwark against market fluctuations
In times of heightened volatility, such as the conditions we’ve experienced in recent months, having a well-established savings strategy is quite beneficial.
The reassuring effect
The fact that you have a financial plan is reassuring. The key is to develop and maintain a savings strategy aligned with your goal, your investment horizon and your risk tolerance.
The neutralizing effect
A financial plan enables you to keep a cool head. By neutralizing your emotions, you can avoid short-term, random trading, which may cause you to lose money.
At a time when financial markets are more volatile than normal, a financial plan is an effective way to maintain your peace of mind.
Simplify your life by consulting a professional!
Building a financial plan isn’t rocket science, but it does take a little time. If your days are full and every moment counts, why not ask an advisor to help you with this process?
- Your advisor will work with you to develop the right financial plan, regardless of your age or assets.
- Your advisor will periodically review the plan with you and adjust it according to your life events.
- Your advisor will explain how to optimize your financial situation so that you can save more while increasing and preserving your assets.
Want to take action? Contact the Advisory Services team at FÉRIQUE Investment Services.