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Rockwater Wealth Management

Build a flexible plan that evolves with your life and the economy

Principle 3:
Take an adaptive approach If the pandemic taught us anything, it’s that life can change in an instant. We know that the world’s markets and economy are ever-changing, as are our personal lives. Our incomes can change, as can our health and our family dynamics, so your financial plan should be flexible as well.

“A plan that sits on a shelf couldn’t possibly account for all that life will throw at you,” says Jed. “That’s why we meet regularly with our clients to adjust their plans as needed to reflect the current reality.”

While Jed and his team account for market changes, he is quick to note that their team doesn’t flip their investment strategy with every investment fad that catches the media circuit.

“You won’t hear us talking about cryptocurrencies or cannabis stocks,” says Jed. “While it’s interesting to read articles about these fads, rewriting your investment strategy over an overnight sensation is a mistake we won’t risk with our clients’ investments.”

Just because everyone seems to be investing in the fad of the day doesn’t mean it is right for you.

Principle 4:
Control the things you can control “There are no facts about the future,” says Jed. “So we cannot pretend to know which way the market will go next.”

However, he says it’s important to control what can be controlled. We can control the amount we save, how long we give our savings to grow, our asset allocation, our behavior, and how we plan for various risks. These are what will ultimately determine your success.

What we can control
Unfortunately, there’s no such thing as a perfect portfolio. The performance of your portfolio hinges on several different factors, many of which are out of your control. As the stoic philosophers would say: if we focus on the things that matter, paired with the things we can control, we are probably headed in the right direction. Anything else is simply an exercise in frustration.

Invest smarters
While the hottest investment news is great for entertainment, Jed says the latest trends and media hype should not influence your investment plan. Instead, always focus on evidence-based approaches to investing, to ensure the most logical approach.

“For your financial success, your investment decisions must hold up to current empirical data, research, studies, and of course, common sense,” says Jed.

TEXT SHELANNE AUGUSTINE | PHOTOS ANDREW FEARMAN | INFOGRAPHICS CARL RICHARDS, BEHAVIOUR GAP

www.RockwaterWealth.ca

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