Investing Is a Step — Not a Guess
Many Canadians want to start investing.
However, not everyone is truly ready.
That’s not a bad thing.
It’s simply part of the process.
Investing works best when your foundation is solid.
This quick quiz will help you check that foundation before you begin.
Answer honestly.
There are no wrong answers—only clarity.
The Quick Investing Readiness Quiz
Answer Yes, No, or Not Sure.
Question 1: Do you have a clear view of your finances?
Do you know:
- How much you earn each month?
- Where your money goes?
- What your fixed and variable expenses are?
If you don’t know these numbers, investing may feel stressful instead of empowering.
Question 2: Do you have an emergency fund?
Before investing, it’s important to have cash set aside.
Ideally:
- 3–6 months of basic living expenses
- Easily accessible
- Separate from investments
This protects you from selling investments too early.
Question 3: Are you managing high-interest debt?
High-interest debt can cancel out investment gains.
Ask yourself:
- Do you carry credit card balances?
- Are interest rates above 15–20%?
If yes, prioritizing debt reduction first may be the smarter move.
Question 4: Do you understand basic investment accounts?
You don’t need to be an expert.
But you should know the basics.
For example:
- What a TFSA is used for
- What an RRSP is designed for
- Why tax matters when investing
Understanding the container is just as important as the investment itself.
TFSA vs RRSP beginner guide
Question 5: Can you leave your money invested long-term?
Investing is not for quick wins.
Ask yourself:
- Can you stay invested during market ups and downs?
- Are you comfortable not touching this money for years?
Long-term thinking reduces emotional mistakes.
Question 6: Do you have a goal for your investments?
Clear goals give direction.
Common goals include:
- Retirement
- Buying a home
- Financial independence
- Long-term security
A goal helps you choose the right strategy.
How to Interpret Your Results
Mostly “Yes”
You’re likely ready to start investing.
You have the basics in place and can move forward with confidence.
A Mix of “Yes” and “Not Sure”
You’re close.
A bit of guidance and structure can make a big difference.
This is a great time to create a simple plan.
Mostly “No”
That’s okay.
This means your focus should be:
- Financial stability
- Debt management
- Building savings first
Investing will come—and it will feel easier when it does.
Why Readiness Matters More Than Timing
Many beginners worry about market timing.
However, readiness matters more.
When you are prepared:
- You invest with confidence
- You make fewer emotional decisions
- You stay consistent over time
That’s how wealth grows.
Next Steps: Turn Clarity Into Action
Knowing where you stand is powerful.
Knowing what to do next is even better.
At Terces Finance, we help Canadians:
- Assess their readiness
- Build simple investment plans
- Choose the right accounts
- Invest with purpose, not pressure
Call to Action
👉 Book a free consultation to review your readiness and create a clear investing plan that fits your goals.
