It’s quite easy to end up with mutual funds in different places. You might have joined a group Registered Retirement Savings Plan (RRSP) through an employer. Or opened Registered Education Savings Plan (RESP) or Tax-Free Savings Account (TFSA) at your bank. It could be other investments too...
Are you looking to make a lump-sum contribution to your Registered Retirement Savings Plan (RRSP) this year? Maybe a top-up to increase a potential tax refund?
Canadians amassed $212 billion in savings last year, versus $18 billion in 2019, according to Statistics Canada. So far, most of us have simply been sitting on the savings or paying down consumer debt. If you stashed your cash in a bank savings account, you’ll likely have been disappointed at how little you earned on those savings...
As the pandemic situation began to improve with the launch of vaccination programs in many major economies, market watchers and economists began to raise the spectre of inflation. A rapid economic recovery, fueled by unprecedented monetary and fiscal stimulus and economies reopening with consumers flush with unspent earnings all signalled that inflationary pressure, long dormant, might resurface.
Mutual funds are designed to be long-term investments. To maximize the benefits of fund investing, it’s best to stay invested throughout the market cycle. But last year’s bear market and the severe economic disruption of the pandemic may have tested even the most resilient investor. If you took money “off the table” last year or are just sitting on some available cash, now may the time to invest.
Happy New Year! Please accept our best wishes for a year full of happiness and prosperity. Whatever the year ahead holds, we are grateful for your continued confidence and trust in our services. If you are setting goals for the year and they include financial ones, please let us help you achieve them. We’re here for you!