Saving for retirement or investing for profit means you have a multitude of choices to select from before you make a decision about how much you are willing to invest. The 10% rule is good a starting point.
Once you have decided what you might like as an investment option then you have to decide upon a number of factors such as your investment horizon. Very important among these decisions is deciding how you feel about losing all of your investment. Or how does a large market decline affect my retirement.
Are my investments insured with either CDIC or Assuris and if so how would a delayed payout from these sources affect your specific plans.
Because of the purpose of RRSP’s (registered retirement savings plans) people sometimes confuse the term with an investment choice as opposed to an investment medium. For instance a mutual fund investment registered as an RRSP has no guarantee and at retirement time people are seriously disappointed to find that their account value will not support their retirement. Mutual funds used for investment retirement purposes should be used sparingly if at all and then only as an add on. On the other hand one of the characteristics of segregated mutual funds is a capital guarantee.
When coaching you with investment options we take all of your investment goals and objectives into consideration and then plan development begins. To find out how this process works for you call us today at 780-449-6292.