Are Your Investments Right for You?

How can you know that your current investments are right for you?

There are several reasons that knowing the answer to this question is essential for your future success.  For example:

  1. You may be holding a mix of investments that are inappropriate for your risk comfort level
  2. You may have multiple portfolio’s in place that are not effectively working together for your success
  3. You may be missing out on planning or tax opportunities that you are not currently taking advantage of

Your Take-Away: Your first step should be to clearly understand and define your financial goals.  Without this, you might as well try to drive to Florida from Toronto without a map! Your second priority should be to take a look at your current portfolio to determine if your investments match your recently defined goals.  Finally, your third priority is to make the necessary changes as quickly and effectively as possible.

Whether you invest in your own self directed portfolio or have a Professional helping you achieve your goals, an annual review is a very “Must Do” item.  No matter how new or old you are to the investment world, you can and will benefit from making sure your portfolio is consistent with your overall financial objectives!

Until next time, have a Terrific Tuesday!

Chris

It’s RRSP Time Again!

We at SAFEBRIDGE hope you all had a very Merry Christmas and an amazing start to the New Year!

The beginning of January marks the end of yet another year and the potential of another great year.  It also marks the beginning of what is affectionately called RRSP Season.  Many Canadians take advantage of the first two months of a new year to add too or top up their existing RRSP.  This year’s deadline is February 29th due to the leap year, and the maximum contribution amount is the lessor of $19,000 or 18%.

Your Take-Away: Why wait until the last week, or even the last day, to make your annual RRSP deposit?  This is a great time to take a serious look at your overall financial situation and determine for yourself if you are track to achieving your desired retirment and financial goals.  By beginning the process of determining where you are, where you want to be, and how much you have to contribute now, you will be better prepared to make the right decision for you and your family.

Until next time, have yourself a Magnificent Monday!

Chris

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