Whether you’re new to investing or already have a plan in place, you can rely on us for trusted advice on building your financial future. Together, you can work with a financial advisor, who will play active role in developing the best investment plan possible.
With our Future Success Planning (FSP) tool, you can begin the first phase of the planning process from the comfort of your own home. Our tool allows you to enter preliminary financial and investment information, select your investment goals, identify your investment style and build a profile that you and your financial advisor can use as a foundation. Ask your financial advisor for an FSP invitation to get started.
Once we understand your situation and goals, we’ll recommend the right products and solutions. We can also explore ways to maximize your wealth accumulation and tax savings to ensure a steady stream of retirement income.
What’s your investment style?
Finding your personal investment style begins with understanding your risk tolerance. The basic investment principle of risk and return is that higher risk brings higher returns, while lower risks brings lower returns. The “risk” with any investment is losing money.
What determines your risk tolerance?
Age, income, experience and personality are a few of the most common attributes that factor into determining your risk tolerance. Younger people tend to gravitate toward riskier investments, while older demographics typically pick safer investments. First-time investors and people with moderate finances tend to be more conservative than those with greater disposable income. And some people are just risk-takers in life, while others aren’t.
What do I invest in first?
Establish a set of goals before investing to determine which plan is right for you. If your goal is to purchase your first house, you could use funds from a Registered Retirement Savings Plan (RRSP) for a down payment using the Home Buyers Plan. However, if you have the money saved in a Tax-Free Savings Account (TFSA), it may make more sense to use that money as a down payment instead of borrowing from your RRSP. By investing in a TFSA, you won’t benefit from the RRSP tax deduction on your contributions, but withdrawals are tax free. You can also choose to re-deposit the money on your own schedule, without any further tax implications.
Whatever your decision, try to invest at least $50 a month in an RRSP so you’re saving something toward your retirement. Compound interest turns that $50 into a lot more money by the time you retire, especially if you start when you’re in your 20s or early 30s. Contributions to an RRSP can also be used to reduce the amount of income tax you pay.
Choosing a variety of investment options is always a good plan. Successful investors often have a mix of high- and low-risk assets. A typical investor may have their RRSP locked in segregated funds to keep their retirement savings secure, but also trade online stocks for more short-term gains.
Segregated Funds
Depending on the registered plan you’re investing in, a segregated fund will guarantee most or all of your initial investment. That means your funds are insulated against a hard market crash. If you’re just starting out and don’t have a lot of money to invest, this is a great choice for a secure and growth-oriented investment.
It’s important to protect what you work so hard to earn. Your financial advisor will help every step of the way. They’ll tailor a solution specific to your insurance needs and financial goals.
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
