Darren Devine, CFP®, CLU®
Financial Planner, Sun Life
President of Devine and Associates Financial Services Inc.
Hello, and welcome to Money Monday, where we help simplify your financial journey with clear insights. I'm Darren Devine, Financial Planner with Sun Life and President of Devine & Associates. Today, we’re talking about understanding your risk tolerance—an essential step in building a financial plan that fits you.
Risk tolerance is all about how much risk you’re comfortable taking when investing your money. Everyone’s tolerance is different. It depends on factors like your financial goals, investment timeline, and even your emotional reactions to market changes.
For example, if you’re saving for retirement in 30 years, you might be more open to taking risks now for higher potential returns. But if your goal is short-term—like buying a home in the next 5 years—you might prefer safer, more stable investments.
Understanding your risk tolerance helps create a portfolio that feels right for you, balancing growth potential with peace of mind. Working with a Financial Planner can help ensure your investments align with your comfort level and long-term goals.
Remember, risk tolerance isn’t one-size-fits-all, and it can change over time as your goals evolve. If you’re ready to discuss your risk profile and build a plan tailored to you, we’re just a call away at DevineandAssociates.ca.
Thanks for tuning in. Don’t forget to like and comment for more episodes filled with tips to make your financial journey a breeze. Until next time, I’m Darren Devine and let’s make your money work for you!