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This Hub version of the column elaborates on a few points, adding the important distinction that newer online do-it-yourself [DIY] investors do NOT have to go without human advice or guidance, which they can get through fee-for-service planners, fee-only money coaches or investment coaches. The poll of 2, Canadian adults was conducted late in July. Rather, the questrade options quantity surveying reason for low Boomer use of online investing is lack of investment knowledge: As a boomer myself I was a tad surprised by the findings.
My latest Financial Post blog looks at a new term, RoboTrader. You can find it by clicking on the highlighted text: As I point out in the piece, the questrade options quantity surveying term robo-advisor is well entrenched as a shorthand description of automated online investment services, and generally refers to semi-automated portfolio management systems built on low-cost exchange-traded funds or ETFs.
The idea questrade options quantity surveying to build low-cost well-diversified portfolios and benefit by gradual dollar-cost-averaging of the underlying ETFs, as questrade options quantity surveying as regular rebalancing.
This takes a lot of the emotion out of building and monitoring an ETF portfolio. By contrast, RoboTrader attempts to do a similar thing in the realm of individual stock-picking. VectorVest says RoboTrader leverages the intelligence of its fundamental and technical analysis, making it easier to manage portfolios. Young readers often ask for investing tips and wonder how to get started.
Finding the right investing approach can be tricky for beginners. Then you need to consider your age and risk tolerance. Do questrade options quantity surveying have the stomach to handle stock market fluctuations of 25 per cent or more, or would you prefer to see returns that are lower, yet less volatile?
Here are a few ideas to get you started:. How about buying bonds online? Do you want deep research and tools? And you read it here first: The rise of robo-advisers provides a slight variant but picking a good discount brokerage is still a solid way to control investment costs and have control over implementing your strategy.
You can find the latest survey in the Globe today, or online here. After two years in the top spot for Virtual Brokers, Qtrade is again number 1, with Virtual narrowly falling to number 2.
Our comment on the event and a link to a piece summarizing the winners can be found here. Check out this decision-tree graphic from Rob Carrick to help choose an online broker. Continue Reading… Share this: Here are a few ideas to get you started: Building your portfolio Continue Questrade options quantity surveying Share this: Powered by the Financial Independence Hub.
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