3 Investment Tips for Millennials

 

 

Let’s be honest, investing isn’t always easy – at least it doesn’t always seem that way. With so many different options available on the market (from mutual funds to stocks), choosing the best strategy can be overwhelming. That’s where the assistance of a financial advisor comes into play.

 

It’s very easy to get caught up in hot tips, news headlines and guidance from family and friends. It seems like everywhere we look someone is giving millennials investment tips. The truth is finance is personal, and that’s why it’s so important to get tailored advice from a professional. With that being said, there are some pieces of advice that all young investors should know.

 

Here are three investment tips for millennials who want to start investing:

 

Start as early as possible

 

Yes, that’s right, young people should have started investing way before they were coined as millennials. As soon as you have an income (no matter how big or small) a portion of your paycheque should go into savings.

 

Thanks to a little thing called compound interest there are big benefits for millennials who start investing early. Compound interest helps your investments grow faster because your monthly earned interest (or dividends or capital gains) is reinvested back into your account. Therefore, the next month you earn interest on the previous month’s interest and so on for years to come. It’s brilliant.

 

Think long term with your strategy

 

According to Forbes, investing for the long term helps millennials see the bigger picture when it comes to risk versus reward in your portfolio. “Risk is kind of like that friend who regularly cancels plans but always comes through in a pinch. There might be heartache in the day-to-day, but in the long run, you’ll be glad you stuck it out.

In investing, more risk means the potential for more reward. Could you lose money and never collect that premium? Sure, but that’s unlikely when you’re in it for the long-term.”

 

Be honest with your financial advisor

 

Professional advice can help find an investment strategy that fits your individual plan, financial capabilities and life goals. However, that can only happen if you are completely honest with your advisor.

 

Think of a financial advisor as your financial doctor, they can’t totally assess the situation and provide a recommendation until they have all the information. This includes your short term and long-term goals, tolerance for risk, time horizon and general knowledge of the investing world.

 

If you have questions about investing or want to start investing but don’t know where to begin, I’m happy to help. Let’s chat about your goals and investment options for millennials.

 

*This content was originally created by Manulife Securities for information purposes only. It has been distributed for advisor publication.*

Some Healthy holiday Recipes!

Published by on

Healthier holiday recipes for all types of diets
Food is a big part of holiday get-togethers, but it’s hard not to worry about the calories catching up to us in January. Those of us with dietary restrictions might also have a tough time navigating traditional dishes. If you’re hosting this month and need menu ideas, here is a roundup of healthier recipes for all types of diets. Happy eating!
Sage-Rubbed Roast Turkey
This sage-rubbed roast turkey is tasty and good for you. Thanks to the folks at eatingwell.com.
http://www.eatingwell.com/recipe/250590/sage-rubbed-roast-turkey-with-lemon-bay-gravy/
Herb Roasted Turkey Breast
Another turkey recipe, courtesy of The Food Network Canada:
http://www.foodnetwork.ca/recipe/herb-roasted-turkey-breast/17193/
Dairy-free, Gluten-free or Vegan
A list of dishes for those with dietary restrictions from cookinglight.com:
http://www.cookinglight.com/entertaining/holidays-occasions/healthy-holiday-christmas-dinner-recipes
Holiday Cooking Hacks
While it’s not a recipe per se, this list of cooking tips put together by The Food Network can make your lives a lot easier during the season: 
http://www.foodnetwork.ca/holidays/photos/life-saving-holiday-cooking-hacks/#!Add-Baking-Powder-for-Extra-Fluffy-Mashed-Potatoes


To close, we would like to wish you a warm, safe and happy holiday season. And if you want to send leftovers our way, you know where to find us!