Breaking down barriers to investing

Debunking myths for new investors

You’ve been told you should invest, but you tell yourself you’re not ready. Or you’ve been thinking about it, but worry that you lack the knowledge, resources, and time. Investing is hard, right? Wrong!

If you’re just starting out and are building a career, putting cash aside to save for long-term goals may not be top of mind. With limited income and, often, student debt as big barriers, investing can seem like a “someday” activity. But starting early, even with small amounts of money, can yield a number of real advantages.

Let’s dispel six of the biggest myths young and new investors believe about investing and a look at a few tips to get you started on your investment journey.

1. Not enough funds

You tell yourself that you don’t have enough money to make investing worthwhile. That’s not necessarily true. When you’re young, time is your friend. Get started early, even if in small increments, and you’ll be surprised by the results. You can begin to save by depositing small amounts of money on a regular automatic basis in your savings account – even $25, $50 or $100 a month – it adds up quickly!

2. Lack the knowledge to invest

Don’t feel confident that you have enough knowledge to invest wisely? Investing can seem daunting; there’s a whole “language” around investment with a long list of acronyms – ETFs (exchange-traded funds), TFSAs (tax-free savings accounts), RRSPs (registered retirement savings accounts), and more.

But we’re here to help you achieve your goals. From building your financial literacy though online advice articles and videos, to one-on-one sessions with an advisor, we can help you move forward on a sound financial track. We’re always available to answer your questions in clear, “non-jargon” terms and to guide you through the investment process.

3. Help is hard to get

You don’t have deep pockets, so you might assume you wouldn’t qualify to work with an investment specialist. But that’s not the case at BlueShore.

Our core purpose is to improve our clients’ financial well-being, and a key part of that is making sure you get the expert advice you need – regardless of the size of your holdings. We have mutual fund licensed representatives on hand in every branch location and at our Solution Centre; if you become a Qtrade Guided Portfolios robo-advice investing client, you again are assigned a BlueShore investment specialist as your “go to” person for help.

4. Don’t have enough time

Life is hectic and you don’t have time to deal with investing right now. You aren’t alone! That’s why many people find it best to work with BlueShore to set up pre-authorized monthly or bi-weekly transfers into their savings or investment accounts. A quick check-up once a year or so is enough to decide if you want to increase or decrease the amount you are saving or shift into another type of investment product.

5. It’s just too risky

You have limited savings and just don’t want to take risks with the markets. This is one area where time is on your side. Investmentsᶲ in mutual funds, stocks, bonds, or ETFs will fluctuate with economic and market conditions, but for longer-term savings goals they frequently outperform more conservative savings accounts or term deposits. Taking on more risk gives you the potential for more reward.

6. Robo-investing is too complicated

Sure, you’re great at understanding the latest tech device or app on your phone, but robo-investing? Sounds kind of scary.

Even if you don’t know enough about robo-investing to consider it as an investment option, we can help. BlueShore Financial offers robo-investing through the Qtrade Guided Portfolios platform.^† It’s designed for people who want a simple, low-cost, online option to build their savings without spending time selecting, monitoring, and rebalancing their investments.

BlueShore offers a “hybrid” advice model, combining the ease and convenience of a digital investment platform with a dedicated BlueShore advisor, helping you make sure your savings and investment plans stay on track. 

One thing that is true, though, is there’s a lot to talk about when it comes to investing. And the sooner you start, the better off you’ll be. Connect with us and start your own myth-busting today.