Steadyhand Investment Funds sells no-load low-fee mutual funds directly to investors.
They've prepared an easy-to-read report called Five Essential Elements To Being A Better Investor (PDF). The focus is on sound, timeless basics rather than trendy quick-fix tips.
You'll find interpretations at
- My Own Advisor by Mark Seed
- Retire Happy by Jim Yih
- CPA Magazine (co-written by Steadyhand’s Tom Bradley)
- The Globe and Mail (by Tom Bradley again)
WatchYou can also watch my chat with David Toyne, their Toronto-based Director of Business Development on Tea At Taxevity (interview #20).
An ExtensionThe steps to becoming a better investor also apply to becoming better insurance buyer. The following list shows the Steadyhand recommendation in bold and my interpretation for health or life insurance in italics.
- Be realistic: risk happens even if you’re optimistic and we have a knack for worrying about the wrong risks
- Have a long-term plan: prepare for your financial risks during your working years (disability), retirement years (longevity), throughout (morbidity, mortality) and at death (taxes!)
- Commit to a routine: if your insurance gets cancelled because you missed premium payments (e.g., cheques bounced during a long vacation), you lose your protection.
- Prepare for extremes: that’s precisely what insurance does by transferring unpredictable financial risks from you
- Act as the CEO of your portfolio: be proactive to make sure you get the service for which you're paying. Without regular checkups, you risk having the wrong amounts of insurance and perhaps the wrong types of insurance.