My column on private portfolio management is celebrating its first birthday. I want to thank the readers who follow me every month and then contact me for a second opinion on their portfolio, or simply to find out more about the subject raised.

We all have busy lives and our days are often over-full, and it’s rare for us to take the time to think about our retirement. Studies show that close to a third of Canadians aged over 50 are not prepared.

The first step is to identify a target date. That date allows you to establish an investment horizon. In normal times, the investor with more than 20 years ahead of himself or herself to save and build their assets can weather stock market fluctuations more easily.

Once the investment horizon has been identified, the second step is to allot shares in accordance with risk tolerance. What part should one risk for growth and what part save to ensure security?

The third step involves a simple mathematical calculation. Starting from the elements provided by the first two criteria and in view of retirement goals, it is easy to anticipate the amount of savings needed and compare it to what has already been accumulated.

It is recommended that you work with a counselor or financial planner to safely negotiate this important stage of life. Their role is to help the client in his or her actions and plan the financial portrait with retirement in mind. Don’t hesitate to contact me if you need assistance, because in addition to being a portfolio manager, I am also a financial planner.