Before you can have a solid investment plan, you have to know your objective and the reason why your are investing. Once you that, figuring out your choices becomes easier.

Here are 5 questions that will help you make decisions.

Which Purpose Are You Pursuing?

Investments must be chosen with the main goals in mind: safety, income or growth. Decide which of these 3 is most important to you. Do you need current income to live on in your retirement years, growth so the investments can provide income later, or is safety (preserving your principal value) your top priority?

How Much Can You Set Aside Realistically?

Many investment choices have minimum investment amounts, so before you can lay out a solid investment plan, you have to determine how much you can invest. Do you have a lump sum, or are you able to make regular monthly contributions? By identifying the amounts, we can definitely make recommendations in your best interest when we build your portfolio.

When Will You Need This Money Again?

Establishing a time frame you can stick with is of utmost importance. If you need the money to buy a car in a year or two, you will create a different investment plan than if you are putting money into a retirement plan on a monthly basis for the future. What you should care about is what choices are most likely to help your account be worth the most by the time you reach retirement age. In reality, significant growth typically requires at least 5 years or more of time in the market.

How Much Should Risk?

Some investments entail what we call five level of investments risk; the risk that you can lose all your money. These investments are too risky for most people. One easy way to reduce investment risk is understand your goals and objective. And have a clear goals and plan to build your portfolio to achieve your goals. One of the major part if to diversify your investments and have a proper asset allocation. By doing so you may still experience swings in investment value. However, you can reduce the risk of a complete loss due to bad timing or other unfortunate circumstances.

What Should You Invest In?

Too many people buy the first investment product presented to them. Better to lay out a thorough list of all the choices that meet your stated goal. Then take the time to understand the pros and cons of each. Next, narrow your final investment choices down to a few that you feel confident about. Some investments are great for long-term retirement money. Others are more speculative, which means maybe you can put some “play money” or “take a chance” money into them, but not all of your retirement savings.


There is various investments vehicle GIC, bonds, mutual funds, ETF, Stocks and segregated funds and etc. low-cost investment solution. During the Pandemic COVID-19 crises, the world is experiencing one more unprecedented volatility, risk, uncertainty, and down market.


Most people working with qualified advisors are feeling secure and guided during this market crash.


Lesson learned from this, tactical advice, along with the right investment choices for our particular goals, are extremely important to mitigate the risk of our investments. It’s essential to Investing in strong companies with proper fundamentals and sound business models in today’s world.


If you have time, energy, and skills to do your own investment research and invest by yourself, you can cost-effective, do it your self investments, and build your money. However, if you don’t have time, energy, and wanted to give to the professionals, find the right advisor or right fund managers. At LifePlan, we are happy to help you build your wealth in a tax-efficient way. We put your interest and goals in the first place.