We keep hearing that markets are pretty volatile. What should people do with their cash?
Investing is long term wealth building strategy, so it’s important that you don’t need this cash for the foreseeable future. The market will go up and down, but the general long-term trend is up.
For Canadians, a TFSA is the best wealth building tool. It’s the only account that both holds your money and shelters you from taxes. You should invest within this account to get the full benefits.
When building your portfolio, it’s so important to make sure your investments are well-diversified to weather risks in the market. Once set up, leave it alone (even in the downs) and let it grow.
Janine Rogan is the Founder and CEO of The Wealth Building Academy, an award-winning Chartered Professional Accountant (CPA), TEDx speaker, and the author of The Pink Tax. She also publishes weekly videos on Youtube and shares financial tips and tricks on Instagram.