10. What are the OTHER impacts of the investment? No investment exists in a vacuum. Every stock, every bond, every rental property, every gold bar, every long-lost Picasso stashed in your attic exists in the context of the world around it. And that context can have major implications on many aspects of your finances, your lifestyle and, increasingly, the world itself. Before you jump into any opportunity, ask yourself what economic, political, or cultural ideas you might be supporting by putting your money behind it. By buying this investment, are you implicitly lending financial support to a company or industry or organization or issue that doesn’t reflect your personal values? Will this investment make the workplace, the community, the world a better place? Worse off? These aren’t right-or-wrong questions – it’s up to you to determine what implications, issues and causes are important to you. And no one but you can tell you where your individual “line in the sand” is with respect to these implications, or when exactly a particular opportunity crosses your personal boundaries when it comes to the environmental, social and/or political impact it makes on the world. But many investors are increasingly giving some serious thought to these issues before they put their money on the table. You should too. 11. What other financial priorities do I have? Assuming that you’re not a billionaire, there’s most likely a limit to how much money you can put into any investment opportunity. And, for every opportunity into which you put money, in all likelihood, that means fewer dollars available to channel into other priorities, other interests and other pursuits. As the last item to consider before you say yes to any opportunity, ask yourself this: how might your investment affect your ability to accomplish other things on your life’s to-do list? Would it mean putting off other financial priorities – building up a cash reserve, contributing to a grandchild’s tuition or buying a dream condo in your favourite sunbelt destination? Would you need to delay or redefine some goals on your bucket list – an around-the-world cruise, or that new car you’ve been dreaming of? If you determine that these other to-dos take priority over whatever opportunity you’re considering, you shouldn’t feel guilty about it. There will be other opportunities. But you’ve only got one life to live. We’ve said it before, and we’ll say it again: money is a tool, and your investments serve your life, not the other way around. If you find yourself considering an opportunity that would require you to miss out on the things that really matter simply because you want “more,” – well, consider that the greatest missed opportunity of all. Finance Clinically proven to help prevent UTIs All-natural & locally made Doctor recommended Utiva Cranberry PACs Looking to relax without worrying about UTIs? Take Utiva. 40% OFF Use code SNOWBIRD40 at checkout Use your phone's camera to scan this code or go to utivahealth.com to use the CSA members discount on Utiva Cranberry PACs Based on 3,834 reviews 4.9 Also available at Rexall, London Drugs, Jean Coutu, Familiprix, Well.ca, Amazon and Whole Foods 1-888-622-3613 CSANews | SUMMER 2023 | 31
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