BMO study finds many Canadians unaware what investments they hold

A new study from BMO found approximately 80 per cent of Canadians were confident in their investment portfolio, but nearly half were unaware what investments they actually held.

An official from the bank said the key is to monitor and add to your investments all year round.

“You should be consistently examining your portfolio to make sure that diversification exists between stocks, bonds, cash and real-estate,” he said.

With the markets being volatile and shaky, people are often scared to invest. The BMO official advises investors to look ahead to the long-term instead of being focused on the potential for a short-term loss.

“In the wise words of Warren Buffet, spend after they have saved, have a saving plan that fits you very well, then spend after you save,” he said.

The best fix includes consolidating your assets to keep track of where your money is being held.

As for investing throughout the year, most banks will set up a program to automatically withdraw money and invest it for you at set increments.

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