As a member of the Sandwich Generation, you may feel pressured to make quick investment decisions to make up for insufficient funds as you near retirement. Because of this pressure, it is easy to expose yourself to more financial risk than you are comfortable with when trying to meet your financial goals. Understanding the risks associated with every investment opportunity is important. An investment may seem legitimate, but it may be not be right for you.
Many people turn to a financial adviser for help in simplifying their life and reaching their financial goals. An adviser can help you set goals, build a financial plan, choose investments, track your progress and make adjustments when needed. You can also look to an adviser for answers to your questions about investment products and strategies. Check out our free online course, Who’s Taking Care of Your Money?, to learn more.
Take time to familiarize yourself with common investment scams. Each year, investors are targeted with a variety of misleading sales tactics and practices, unregistered activity and securities fraud. If you’ve encountered any of these, contact the Alberta Securities Commission to determine if you should file a complaint.
Checklist - You
- Organize your financial records including brokerage statements, bank records and insurance documents.
- Create a realistic budget and control your debt.
- Start retirement planning early. Review your investments in relation to your financial goals and risk tolerance. Take a risk test now.
- Evaluate your investment knowledge and experience, and consider working with a financial adviser.
- Contact your local securities regulator to inquire whether your broker or financial adviser is registered to sell investments or provide advice.
- Learn about common scams and how to Check First.
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