Quote:
Originally Posted by MoneyGuy
First, decide what kind of investor you want to be. Do you want to be a DIYer? Do you have the time, the interest and the skill to do it yourself? If you don't have the skills, do you have the time and the interest to acquire them? DYI investing can be dangerous. I've seen portfolios blow up this way.
If the above isn't you, then you need to find a good planner to help you.
Your research and info needs are different in each case. If you want to be a DIYer, then others here are better able to help you. If you aren't cut out to be a DYI investor, I can recommend a shelf full of books to get you started, as well as other resources. Let me know if you want some titles.
The books are a good place to start even if you want to DYI.
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I have an IG financial planner, but I haven't really used him in a long time. My plan has been since I stopped consistently using him to furiously pay off my (declining) debt, and then get more serious about investing. That should happen this year.
I guess I would be a hybrid. I know that financial planning isn't my forte, as I do have a planner and I know the world of good they can do (I would recommend a financial planner to anyone that doesn't have one, they turned my rents finances around when they were young too). I want to do some investing, and would normally allow my planner to do it, but I'd like to start learning some of this myself in the hopes that I can go off and do some of my own investing in the future. I have a business degree, but really only took one finance course (sometimes I'm embarassed by this fact). That course taught me about Canadian finance, but not to the level of detail and understanding I can now focus on now that I'm done my schooling. I know what it takes to make a proper budget and to save more than you spend (and that a planner helps in this regard), but now I want to take the more complex next step.
I would love to know the books that you would recommend, Money Guy. Weirdly enough, I'm kind of casually reading a book from the 90's called Rich Dad Poor Dad. Not really about investing and terminology per se, as it is about money management.