Canadian investors who made it through a tumultuous 2022 face further uncertainty in the year ahead amid increased recession risk. Investment professionals and personal finance experts say the easiest way to grow your money this year is to keep things simple.
Canadian investors who made it through a tumultuous 2022 face further uncertainty in the year ahead amid increased recession risk, higher interest rates, persistent inflation, a jittery stock market and a plummeting real estate market.
"There is some good value out there with companies that pay steady dividends and have modest growth potential and are less volatile than, for example, technology companies. Canadian bank stocks fall into that category. They're always good to have in your portfolio." Cash, or liquid funds, in an investment portfolio gives you wiggle room during times of financial uncertainty.
Orlic said she prefers the Canadian markets for commodities, materials and utilities stocks and the U.S. markets for financials and healthcare at the moment. "I do have my eye on cryptocurrency now that it's so out of favour. It's not for everyone, but for those who can stomach higher risks, it's an asset class to keep an eye out on," she said.
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