Investors can’t control the markets. Here are six things they can.

By Tom Bradley

Are you doing all you can to control the things that you can control?

As I wrote recently, there are plenty of factors in the investment landscape you can’t control, such as the AI revolution, geopolitical dysfunction and seemingly unchecked speculation. It feels worse right now, but the fact is, the path of investment returns is always unknowable and beyond your control.

There are strategies and habits, however, that will give you the best chance of success, no matter what AI or U.S. President Donald Trump do, or how your portfolio gets to its destination.

Saving

Saving is a prerequisite for investing. You need unencumbered money that won’t be called on for decades to come – money set aside now to replace your paycheque during the last third of your life.

The easiest and most disciplined way to save is a preauthorized contribution, or PAC. Money comes out of your chequing account every month before you miss it and is automatically (and unemotionally) invested.

Clarity

Every investment dollar needs to have a purpose. Is it for retirement and therefore focused on above-inflation returns over the long term, or is it being set aside for a specific purpose and therefore needs to be secure?

Each goal should be in a separate bucket and have its own strategy and measure of success.

SAM

There also needs to be a road map for each bucket. At Steadyhand, we call the map a strategic asset mix, or SAM. Your SAM considers all your financial assets, including real estate and pensions, and lays out the mix of asset types that best fit with your goals and time frame.

SAM is your North Star. It’s your portfolio’s default position. When people ask me where they should go to hide in these crazy times, I point them to their SAM. It’s the best mix of assets for what they’re trying to accomplish.

Who

It may seem obvious that who you choose to work with for the next 10 to 30 years is important, but too many investors are stuck in bad relationships. They aren’t getting what they need, don’t understand what’s happening or just don’t feel comfortable.

It takes effort to make a change, and likely triggers some angst, but there’s no excuse. If you’re not happy, look for someone who has the right qualifications and experience, and is at a firm with the necessary resources and products. Someone who will field any question you throw at them and put your best interests ahead of company sales targets. And, of course, someone who is a good fit personality-wise. You’re going to spend a lot of time with them in the coming years.

Cost

This is another biggie. Trading commissions, advice and service fees and administration charges all represent lost return. Whether you’re a do-it-yourself investor or rely on an adviser, make sure what you’re paying matches up with what you’re getting. Don’t pay too much and don’t pay multiple people to do the same thing.

Routine

If you’ve taken care of the above items (a high proportion of investment plans end up buried in a desk drawer, along with good intentions), then keeping on top of your portfolio is a lot easier.

Your investment routine doesn’t have to be a burden. Quite the opposite. Less is more. You’re far better to do a thorough portfolio review once a year as opposed to checking your portfolio balance daily or weekly. As the adage goes: A portfolio is like a bar of soap. The more you touch it, the smaller it gets.

If you have an adviser, dedicate one meeting a year to the most important topic – you. No economic charts or market predictions. Just a review of your goals, SAM, fees and long-term returns, with plenty of questions along the way. Questions like, am I on track, can I reduce my costs, do I need to adjust my plan for a life event and am I sitting on lazy money at the bank that’s earning next to nothing? Questions that help you understand what you’re doing and how much your adviser knows about you.

To be sure, there’s a lot going on right now and not a lot you can do about it. You can, however, put your house in order by saving enough, being clear on what you’re trying to achieve, working with a firm that fits your needs and personality and not diminishing your returns by paying too much. In other words, controlling the controllables.

Tom Bradley is a portfolio manager with Purpose Investments, co-founder of Steadyhand Investment Management, a member of the Investment Hall of Fame and a champion of timeless investment principles.