north shore news -. a ad IGH TECH Assessing your risks NO investment is risk- free. So fill in the blanks in the following categories to see how you have dealt with each risk-reward trade- off. Have you imple- mented the solution(s)? B Market risk. Problem: The value of stocks, mutual funds, real estate, antiques, precious metals and so on could drop. Solution: Understand the market fac- tors; invest for the long term — perhaps five to 10 years. Your approach: ® Currency risk. Problem: Everything priced in forcign currencies goes up in cost when the Canadian dollar drops. Solution: Hold for- eign currency investments, from a U.S. dollar account to international mutual funds to individual stocks, property or other invest- ments outside Canada. Your approach: @ Mismatch risk. Problem: Investments may not suit needs and circum- stances. Solution: Decide what you want your moncy to do for you (e.g. provide income, or grow in value without income), then choose the appropriate instruments. Your approach: & Lack of diversity. Problem: Uf your one invest- ment sinks, so do you. Solution: Have a (manage- able) variety of investments. Your approach: & Liquidity risk. Problem: You can’t get your cash when you need it without penalties. Solution: Estimate the amount and timing of your cash needs, and choose liquid instruments; get in writing both the procedures and costs of getting back your money. Your approach: @ Inflation risk. Problem: The buying power of your money won't keep pace with inflation. Solution: Choose investments (within your market risk comfort zone) wich the potential to keep up with and ideally ahead of MAKE A inflation, Your approach: @ Reinvestment risk. Problem: With GICs, bonds, cte., vou reinvest interest and maturing money for a lower return. Solistion: Stagger the maturity dates; choose instruments that compound at the original rate. Your approach: Credit risk. Preblem: The institution might not be able to pay interest or repay a maturing instrument. Solution: Stay within deposit insurance limits; cheek the financial soundness of gov- ernments, companies, etc. Your approach: @ Tax risk. Problem: Income tax eats into your returns; tax shelters could collapse. Solution: Use RRSPs, RRIFs, RESPs; focus on capital gains; focus on the investment first, tax breaks second. Your approach: Mike Grenby is a columnist and independent personal financial adviser. He'll answer questions in this col- nmin as space allows but can- not reply personally. Contact him at P.O. Box 50029, South Slope R.P.O., Burnaby, BC. V5] 5G3; e-mail . COMPUTER SALES, SERVICE & SUPPORT - 980-9447 ener 103 East 2nd, PENTIUM. II - 45. System includes: Mirco-Stor 6163 Pentiumll BY AGP ATX MB, 128 MB PC100 SD-RAM, S3 Savage 4 GT 3D AGP 32MB Video Card, Panasonic 1.44 Floppy, 8.4 GB EIDE UDMA Herd Drive ,19" Mid Tower ATX Case w/250 Watt PS, 56.7K V.90 Int. 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