A Canadian going to self-directed investing


I want to move my poorer performing US stocks into a US index exchange-traded fund (ETF), most likely IVV. I see it has jumped over the last couple of days, but I’m going to wait to see what happens with some of the US news.

I’m also meeting my financial advisor next week. I’ve already told him that I’m going to transfer my US stock to my itTrade (self-managed) account.
I haven’t touched any of my CDN stocks yet. I don’t want to convert any of these funds to US. You had mentioned some CDN funded ETF’s that follow the US market. Would they be a smart choice? I’m assessing my portfolio. I have some stock picks that have done well since buying. I’m not going to move on them unless there is reason to believe they will have limited future growth.
I could use some advice on how to simplify my portfolio. As mentioned, my financial advisor had purchased many stocks in the hopes of the better ones would make up for the poorer performing ones. I’d really like to get down to a few good stocks and ETFs that I don’t have to be constantly managing.
Thanks again for your help.

Monday Morning Millionaire Program Answer:

IVV is an excellent example of a US index exchange-traded fund. Note, however, that habit number four of highly effective investors is to buy and hold. That is, they don’t attempt to time markets. Waiting to see what happens with some US news is trying to time markets. The Monday Morning Millionaire Program recommends that you just go ahead and make the switch anytime now and do so with all your stocks not just the poorly performing ones. Habit number three is buy the US market as a whole, that is, do not pick stocks.

Tell your financial adviser that you would like to hire him on an hourly basis once in a while, to review what you are doing. Over the course of a decade, more than 90% of advisers are unable to equal the simple act of buying and holding an exchange-traded fund which mirrors the S&P 500. Tell your advisor that you have joined the Monday Morning Millionaire Program and that I show my personal portfolios every Tuesday. Tell him to consider joining.

I have not communicated with a financial advisor for over two decades, now.

Concerning Canadian stocks, collectively, they have gone exactly nowhere over the last decade. The US market has risen about 400% during the same period.

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Dr. Milan Somborac

The Monday Morning Millionaire Program supports do-it-yourself (DIY) investors which I have been for over 50 years. About my team and me