When was the last time you had a really good experience? It may have been a while given the pandemic situation. We as humans are experience driven. From choosing what we pick for dinner to our favourite holiday destination, most Canadians are looking for a great experience to fill their time.
Amazon, who has been a friend to many during these times, has provided a unique experience of their own. Getting goods to individuals in a safe, fast, and reliable way more so than ever before.
Often when we talk about experiences, we mention restaurants, businesses or hospitality that impressed us (or greatly disappointed us). Although, when talking about finance, outside of one’s customer service representative, I often rarely hear people discussing their “investment experience”.
Investments can have an experience…
Whenever you put your money to work, there is always a type of experience that is associated with it. If you purchase GIC’s (Guaranteed Investment Certificate) from your bank, the experience may be very boring with minimal returns that are very safe. Leaving you with a very underwhelming experience. Whereas if you purchase an investment property, your experience may involve a great return, but one associated with constant tenant issues, lawyers, and additional payments. Therefore, something that started out as exciting, comes with many potential issues along the way. So, it is important to ask yourself – what type of experience am I looking for?
Whenever you are looking to invest, it is important to understand what type of investment experience that opportunity may be associated with. There is no one perfect experience, or investment experience, that can satisfy all your financial needs. Select investments that seek to leave a meaningful result on your wealth, just like a special night out leaves an impression on your memories forever.