Hi Friends,
My wife and I are on the verge of investing roughly $30,000 USD with a financial advisor. We've met him and had a long correspondence with him including completing a 'risk assessment survey', (on which we scored a 4/10 meaning we're moderately cautious and this in turn has led him to put together a portfolio that reflects this).
The catch is that my wife and I are complete fools when it comes to stocks/bonds/financial markets. We have 0 background knowledge and while we do trust this guy, (he's well known in our community, is the spouse of a colleague) we have not had a lot of luck finding references in our community to help guide our decision.
Luckily, the sum of $30,000 is not going to make or break us. We're willing to spend that much initially because we have other savings and a small piece of real estate. Best case we see small growth over a long period of time. Worst case, we lose some money and it won't be the end of the world.
We would like to maximize this opportunity and are meeting the guy one last time before making the transfer, (to the platform he uses call Praemium).
What is some general advice you could give to people considering investing in stocks/bonds/assets?
Additional background: I will say the initial push for this was a friend of mine at work who started investing in cannabis stocks prior to the legalization announcement. At the time, he said the stocks for one company was in the $25 range and recently he told me it was almost $60. I tried to invest using an app but got spooked when the app said I needed to have X amount of net worth and X # of years experience in investing. I am a Canadian citizen and don't want to lie or engage in any behaviour that will potentially come back to haunt me when I move back to living in Canada, (currently living overseas).
Submitted October 05, 2018 at 07:46AM by rashado https://ift.tt/2RtOcWD
