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5 Tips For Financial Success

5 Tips For Financial Success

June 10, 2024

Hi Canopy Wealth family! This is Anna Lacy again, and while I’ve been at this internship I have learned so much about the basics of investing and skills for managing finances. So, I thought I would share some of this information with you all, coming straight from the experts themselves. 

Today, I sat down with Tanner and asked him about his top 5 tips on managing your wealth and investments. So here we go, straight from the horse's mouth, the 5 most essential guidelines to navigate your personal finances!


  1. Start early, but it's never too late to begin investing- No matter what your age, you will never be younger than you are right now, and in today’s world, time is money. The sooner you begin the more your investment will compound year after year. So save yourself the time, make yourself some money, and your future self will thank you!                                                                                                                   
  2. Make a plan- Figure out what you're investing for, and when you want it, and come up with a plan with your financial advisor on how to get there. Whether it be retirement, a new house, a car, or any future event, you need a solid game plan to actually achieve your goals. If your goal is to retire in 15 years, or purchase a new car, meet with your advisor to come up with realistic investments that will get you to your goal as responsibly and as easily as possible.                                                                                                                                                                                                                                 
  3. Stay consistent and trust the process- You can’t control what the market does or when it changes, but you can control how you save on your end. You can invest a consistent amount, watch your finances grow, and remember the big picture. The financial market changes every day, but the overall trend will only take you closer to your goals. It takes time, but leave your money in the market and trust that your investments will do the work.                                                                                                                                                                                                                                                              
  4. Don’t let emotions dictate decisions- This connects with point 3, but do not buy or sell based on emotions. The market changes every day, and just because it dropped one day, does not mean you should change your long-term investments. Over time, the general trend rises, so temporary worry will only hinder their growth. According to the 2023 Dalbar study, the average equity investor in 2023 earned 5.5% less than the overall market due to emotional decisions. In other words, if they had stayed the course, they could have earned an additional 5.5% on their investments.                                      
  5. Take advantage of company retirement plans- A lot of companies offer a retirement plan with a match on investment. Basically, you save a dollar, and they save a dollar for you, matching what investments you are putting in. There aren’t very many opportunities where someone will save a dollar for every one you save, so take advantage of the free money. You are essentially doubling your investments before you even get a return, so if your company offers this, go get your free money!


There you have it, top 5 tips from Tanner himself. If you have any more questions, want more tips, or want to know more about any topics, we’re always available, so feel free to reach out and schedule a time to meet.