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How well do you think you’re investing the savings from your employer-provided group RRSP savings program?
It’s the most important question when it comes to your investments and your lifestyle. After all, you work hard your whole life so that one day you can reach that proverbial light at the end of the tunnel and spend the rest of your days enjoying the freedom of spending your time however you’d like. It’s a nice goal, and it’s not out of reach, but you have to know what it’s going to take to get there and contribute accordingly along the way.
It’s that time of the year when we all set goals for ourselves. Whether it’s to lose 10 pounds, exercise more or something else, most goals are often short term in nature. Sometimes they are achieved, but whether we like to admit it or not, many go down the way-side.
Goal setting is important. Without one would you even know which way you are headed? However, goals should also include longer term plans that need to be built up incrementally, year after year. Retirement is one of such goals. It might sound absurd to think of something that might be 30 years away. But people who have gotten there will vouch - the earlier you start working towards it, the better the chances are of accomplishing the goal.
Here are 7 tips as you work through building up your retirement goal.
This blog by Invisor CEO Pramod Udiaver was originally published on Huffington Post Canada.
Retirement planning can seem challenging. How do you plan for an event that may be so far in the future? How do you know how much money you will need? And how do you avoid many people's biggest fear -- outliving your money?
When it comes to investing, many people ask questions such as what company’s stock should I buy, when should I buy, and how much return can I expect. The questions they should be asking are:
The beginning of a new year is when many investors start to assess the longer term performance of their investments and start to think about investing any year-end bonus payments received to top-up their RRSP (Registered Retired Savings Plan) and TFSA (Tax-Free Savings Account) limits.
It was in the summer of 2013 that I was planning to get a new mini-van to replace my old workhorse. I’d set up an appointment with a personal banking associate at my bank to review the various financing options available to me. As the meeting was wrapping up, the associate told me that I was ‘eligible’ for financial planning services offered by the bank.