<p>Any successful portfolio needs a smart plan behind it. While most of us look at earnings and interest rates and a range of factors outside our control, one of the biggest factors when it comes to portfolio success is actually investor behaviour.</p>
<p class="p1">With our May 7 <a href="http://www.moneysense.ca/save/investing/moneysense-event-invest-for-success-2016/">Invest for Success event</a> coming up this week in downtown Toronto, we reached out to one of our panelists, Rona Birenbaum, a <span class="s1"><a href="http://www.moneysense.ca/approved" >MoneySense Approved</a> financial planner at Caring for Clients, for some advice.<br />
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<p><strong><em>MoneySense</em></strong>: Rona, what would you say are the biggest mistakes that investors make when it comes to their relationship with their investments?</p>
<p><strong>Birenbaum</strong>: I&#8217;d say the biggest mistake investors make is avoiding the type of comprehensive financial planning exercise that would identify:</p>
<ol>
<li>The rate of return they need to meet their goals. (Most investors unknowingly take on more risk than necessary); and</li>
<li>The areas over which they do have control and that can influence their long-term financial security</li>
</ol>
<p>More tips:</p>
<p><a href="http://www.moneysense.ca/save/have-canadian-stocks-really-become-less-risky/">Have Canadian stocks really become less risky? » </a><br />
<a href="http://www.moneysense.ca/save/investing/find-out-what-kind-of-stock-picker-you-are/">What kind of stock picker are you? » </a><br />
<a href="http://www.moneysense.ca/save/investing/bonds/the-new-rules-of-bond-investing/">The new rules of bond investing » </a></p>
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<p><a href="http://www.moneysense.ca/save/investing/moneysense-event-invest-for-success-2016/" rel="attachment wp-att-154004"><img class="alignleft size-full wp-image-154004" src="http://www.moneysense.ca/wp-content/uploads/2016/04/IFS_FACEBOOK_HEADER.jpg" alt="IFS_FACEBOOK_HEADER" width="401" height="217" srcset="http://www.moneysense.ca/wp-content/uploads/2016/04/IFS_FACEBOOK_HEADER-300x162.jpg 300w, http://www.moneysense.ca/wp-content/uploads/2016/04/IFS_FACEBOOK_HEADER.jpg 401w, http://www.moneysense.ca/wp-content/uploads/2016/04/IFS_FACEBOOK_HEADER-400x217.jpg 400w" sizes="(max-width: 401px) 100vw, 401px" /></a>Want to learn more?</p>
<p>Hear Rona Birenbaum and others, including Kurt Reiman, chief investment strategist for BlackRock Canada and <em>MoneySense</em> columnist Dan Bortolotti share more investing tips on <a href="http://www.moneysense.ca/save/investing/moneysense-event-invest-for-success-2016/" >May 7 in Toronto</a>.</p>
<p>Tickets to Invest for Success <a href="http://www.moneysense.ca/save/investing/moneysense-event-invest-for-success-2016/">are still available</a>. You won’t want to miss out. <a href="http://www.moneysense.ca/save/investing/moneysense-event-invest-for-success-2016/">Register now</a>!</p>
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<p>The post <a rel="nofollow" href="http://www.moneysense.ca/save/the-biggest-mistake-investors-make/">The biggest mistake investors make</a> appeared first on <a rel="nofollow" href="http://www.moneysense.ca/">MoneySense</a>.</p>
