My Portfolio: Seeking Advice
 | This article is intended to help new investors request assistance from the FWF membership. The format is designed to help new investors think about the "big picture" while providing a standardized format which allows experienced FWF members to evaluate the portfolio. |
Welcome to the Financial Wisdom Forum (FWF) wiki. There are many knowledgeable and experienced investors who are part of our online community. A lot of these posters are willing to share their time and expertise with new posters. In order to be able to help, we need to know some important things about you, including all the investments you already have. To make sure you get the help you need, we would like to provide a few suggestions.
Posting
We do not need to know your name or the amount of money you have invested or anything else that will identify you. To help us help you please post in this format:
- Emergency funds: Three to six months of expenses (indicate if you have this, but it is generally not part of your asset allocation)
- Debt: Indicate if you have any debt (credit card, school loans, car loans, mortgage) and the interest rate you are paying on each loan.
- Marital Status: (Married (formally or common-law), Widowed, Divorced, Separated, Single)
- Tax Rate: (Your combined federal & provincial tax bracket)
- Provincial Residence:
- Age (a range would suffice):
- Desired Asset Allocation: xx% stocks / xx% bonds (indicate if you are unsure)
If you want to give us a detailed breakdown within each asset class (xx% large caps, xx% mid caps, xx% bonds, xx% cash, etc.), go ahead. (Most people probably will not want to do this. If you are not sure what this means, please disregard.)
Please provide a hint as to the size of your current total portfolio (as in high four-figures, mid five-figures, low six-figures, etc.) What might be appropriate for a very large portfolio might not be appropriate for a new investor.
Providing the split of your assets and contributions between taxable and tax-advantaged accounts is also helpful. For example:
Current Assets
Taxable (or non-registered)
xx% cash (for investing – do not include emergency funds)
xx% fund name(s) (fund symbol, if known) (management expense ratio, if known)
xx% stock company name(s) (ticker symbol, if known)
His Tax-Free Savings Account (TFSA)
xx% cash (for investing – do not include emergency funds)
xx% fund name(s) (fund symbol, if known) (management expense ratio, if known)
xx% stock company name(s) (ticker symbol, if known)
Her tax-free savings account (TFSA)
xx% cash (for investing – do not include emergency funds)
xx% fund name(s) (fund symbol, if known) (management expense ratio, if known)
xx% stock company name(s) (ticker symbol, if known)
His RRSP / RRIF / LIRA
xx% cash (for investing – do not include funds earmarked for the Home Buyer's Plan)
xx% fund name(s) (fund symbol, if known) (management expense ratio, if known)
xx% stock company name(s) (ticker symbol, if known)
List any restrictions in available investment choices
Her RRSP / RRIF / LIRA
xx% cash (for investing – do not include funds earmarked for the Home Buyer's Plan)
xx% fund name(s) (fund symbol, if known) (management expense ratio, if known)
xx% stock company name(s) (ticker symbol, if known)
List any restrictions in available investment choices
Total of All Accounts Together (not each account individually) should equal 100%.
Pensions
Also mention any pensions you and/or your spouse may have at work, annual percentage contributions by the employer/employee, and for how long they have been accumulating.
If retired, mention the CPP, OAS and annuities you and/or your spouse may be collecting or are soon expecting to do so.
RESP(s)
Plan Type: (Family, Individual, or Group)
Plan sponsor:
Age of child(ren):
xx% cash
xx% fund name(s) (fund symbol, if known) (management expense ratio, if known)
xx% stock company name(s) (ticker symbol, if known)
Total of percentages for RESP(s) should equal 100%.
Contributions
New annual Contributions
$xx taxable (for retirement, not short term goals)
$xx his Tax-Free Savings Account
$xx her Tax-Free Savings Account
$xx his RRSP (also specify any employer matching contributions)
$xx her RRSP (also specify any employer matching contributions)
$xx RESP(s)
Questions:
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3.
Etiquette
Please make all responses and additions to your original post in the same conversation rather than creating a new topic. It helps everyone if the history of the discussion is available in one place.
Many posters put a great deal of effort into their replies. We simply ask that if you receive replies, you go back and respond to them in some way. Remember, the purpose of this is to have a conversation! We are NOT expecting a thank-you necessarily, but feedback on what you found helpful, if anything. We appreciate hearing back from you.
Preparing to make a post can be a significant learning experience for you. We appreciate posts that show careful planning. This doesn't mean your questions must be complex or show extensive investment knowledge. We really enjoy simple ones and want beginning investors to feel very welcome. Our goal is to help. We hope that this post gives you some guidance, so that you can get the kinds of answers you deserve. And, if you'd like, give us a friendly first name at the close of your post.