How Investment-Ready Are You? Take the Quiz

Discover your investment readiness level in just 4 quick questions. This quiz evaluates your understanding of timelines, diversification, fees, and planning—the core pillars of successful Canadian investing. Get your personalized assessment and find out exactly what you need to focus on next to avoid costly mistakes.

When you think about investing money, how do you typically approach determining your investment strategy?

I jump in based on what friends recommend or what's trending—I don't really plan ahead. I have a general idea of my goals, but I haven't written anything down or calculated specifics. I have a written plan with goals and timelines, though I review it occasionally. I have a detailed written plan with specific goals, timelines, asset allocation, and a rebalancing schedule.

How do you typically react when one of your investments underperforms or you hear about a 'hot' investment opportunity?

I panic and move my money to chase the latest hot investment or trend. I'm tempted to switch, and I sometimes do after a few weeks of underperformance. I occasionally consider switching but usually stick to my plan with minor adjustments. I stay committed to my diversified strategy regardless of short-term performance or market noise.

What's your current understanding of the fees you're paying on your investments?

I'm not really sure what fees I'm paying or how they impact my returns. I know roughly what I'm paying, but I haven't calculated the long-term impact. I understand my main fees and have considered their impact over time. I regularly review all fees (MERs, trading costs, etc.) and actively minimize them.

How comfortable would you honestly be if your investment portfolio dropped 15% tomorrow?

I'd panic and likely sell to stop further losses—I can't handle that kind of volatility. I'd be stressed and tempted to make changes, though I'd try to stay calm. I'd be concerned but confident in my long-term plan; I'd probably hold steady. I'd see it as a buying opportunity and stick to my strategy without hesitation.