Ready to Start Your Family Investment Journey?
Before jumping into family investing, there are some important things to consider. Building wealth for your family isn't just about picking stocks or funds — it's about understanding your situation, setting realistic goals, and making sure you're prepared for the commitment ahead.
Many families rush into investing without proper preparation. We've seen this lead to frustration, poor decisions, and sometimes significant losses. Taking time upfront to assess your readiness can make the difference between success and disappointment.
Are You Actually Ready to Invest?
Emergency Fund First
You should have 3-6 months of expenses saved before investing. This isn't negotiable. Without an emergency fund, you might be forced to sell investments at the worst possible time.
Debt Situation Under Control
High-interest debt (credit cards, personal loans) should be paid off first. If you're paying 18% interest on credit cards, that guaranteed return beats most investment strategies.
Stable Income Stream
Your family's income should be reasonably stable. Investing works best when you can contribute regularly without worrying about next month's bills.
Clear Financial Goals
What are you investing for? Kids' education? Retirement? A house? Different goals require different strategies and timeframes. Vague goals lead to poor decisions.
Time Horizon Understanding
Real investing requires patience. If you might need this money in less than 5 years, traditional investing probably isn't the right approach for those funds.
Risk Tolerance Clarity
How will you feel when your investments drop 20% in a bad month? Because they will. Understanding your emotional response to losses is crucial before you start.
Raina Kolbridge
"I've worked with hundreds of Canadian families over the past 12 years. The ones who succeed aren't necessarily the smartest or wealthiest — they're the ones who took time to prepare properly before starting."
Your Pre-Investment Foundation
Here's what successful families do before they make their first investment. Skip these steps at your own risk.
Get Your Financial House in Order
Track your income and expenses for at least two months. Know exactly where your money goes. Create a realistic budget that includes investment contributions. Many families think they can invest more than they actually can.
Define Your Investment Goals
Write down specific goals with dollar amounts and dates. "Save for retirement" is too vague. "Accumulate 0,000 by age 55 for early retirement" gives you something concrete to work toward and measure progress against.
Educate Yourself on Basics
You don't need to become an expert, but understanding fundamental concepts like diversification, compound interest, and risk vs. return will help you make better decisions and avoid costly mistakes.
Start Small and Learn
Begin with a small amount you can afford to lose while you learn. Many successful investors wish they had started with less money initially — the learning curve can be expensive if you jump in with large amounts.