ill try and keep my post brief
i got about 700k to invest, the hope is that i get at least a 10% return, i am okay taking medium risk but not medium-high. I was thinking ETF's, however i am a Canadian presently, would like to avoid the instability of the currency and banking system in this country in which i am moving from and becoming a tax resident in another country.
Not looking for long shots but was hoping peeps here could give me some direction at a 30k foot level, any advice is appreciated
Should i get a financial advisor?
byu/Hungry-Storage6789 ininvesting
Posted by Hungry-Storage6789
5 Comments
At least 10% and medium risk at the same time
Good luck
lol no
That is an impossibility. Medium risk is roughly the 7%, a little over what is considered a stable dividend maximum rate. Safe is around 5%. High risk is likely around 10%.
Do not mistake the fact the market is putting out absurdly high numbers right now with safe.
Where did the money come from? Yes it matters.
If you inherited and this is the first time you’ve ever had money: find a trustworthy pro, your mistakes will be more costly than their fees.
If you’ve slowly saved this up: yes, get an advisor, you’ve already cost yourself a fortune in missed investment opportunity.
If you make a ton of money (like a doctor or something): yes, get an advisor, learning personal finance is literally not worth your time. Find someone trustworthy and ethical, don’t be surprised if you have to move more than once (most advisors suck).
It’s too much money to just learn as you go. Though you should educate yourself. Bogleheads is great. Rome wasn’t built a day. Best of luck to you.
> i got about 700k to invest, the hope is that i get at least a 10% return
10% total return in like 3-5 years time? Or 10% per year? If you’re looking for 10% per year you will need to be in high-risk investments.
If you haven’t done much investing before, then I agree with the other comment – *yes*, it would be a good idea to get some professional guidance.