feature The Key Decisions How the really smart money invests With all of the different investment options available, it’s difficult to know which direc-tion is best. To make decisions that lead to a successful investment experience, it’s critical to change your way of thinking about what it takes to really succeed at investing and growing your money. e live in a world full of choices. But, because our busy lives are crammed with family, friends and work commitments, sometimes the possibilities can seem overwhelming. Finances are a perfect example. With all of the different investment options available, it’s difficult to know which direction is best for us. There’s so much information out there (and much of it unreliable) that we often end up making bad choices that lead us to take unnecessary risks, not diversify our portfolios properly, and pay way too much in management fees and taxes. The result is poor investment returns that impede our financial success. If this sounds familiar, it’s critical that you change your way of thinking about what it takes to really succeed at investing and growing your money. You can have a successful investment experience, but to do so, you have to make some impor -tant decisions. Throughout this series of articles I will outline the key decisions you need to make to be a successful investor. Each of these important decisions will be outlined and explained without any financial mumbo-jumbo – just honest common-sense advice. Paul Philip, CFP,CLU, has been advising hundreds of chiroprac-tors across Canada on building and protecting their wealth since 1992. His firm, Financial Wealth Builders Inc. is located in Toron-to, Ontario. To learn more about building your wealth visit www. fwb-inc.com or contact Paul at [email protected], 1-866-735-5581. W Paul Philip, CFP, CLU THE DO-IT-YOuRSELF DECISION Successful investing is not easy – if it were there would be a lot more wealthy people out there. If you are thinking of do-it-yourself (DIY) investing it’s critical to do an honest self-appraisal before you begin. First, this means you need to make sure you have the time, knowledge and interest to invest on your own. Secondly, how do you determine your asset allocation? That means deciding how your investments should www.canadianchiropractor.ca 22 • CANADIAN CHIROPRACTOR | MAY 2013
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