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 down more than 200 points in late-morning trading, weighed down by losses in the technology, base metal and energy sectors, while U.S. stock markets also fell.
The S&P/TSX composite index was down 239.24 points at 22,749.04.
In New York, the Dow Jones industrial average was down 312.36 points at 40,443.39. The S&P 500 index was down 80.94 points at 5,422.47, while the Nasdaq composite was down 380.17 points at 16,747.49.
The Canadian dollar traded for 73.80 cents US compared with 74.00 cents US on Thursday.
The October crude oil contract was down US$1.07 at US$68.08 per barrel and the October natural gas contract was up less than a penny at US$2.26 per mmBTU.
The December gold contract was down US$2.10 at US$2,541.00 an ounce and the December copper contract was down four cents at US$4.10 a pound.
This report by The Canadian Press was first published Sept. 6, 2024.
TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in technology, financial and energy stocks, while U.S. stock markets also pushed higher.
The S&P/TSX composite index was up 171.41 points at 23,298.39.
In New York, the Dow Jones industrial average was up 278.37 points at 41,369.79. The S&P 500 index was up 38.17 points at 5,630.35, while the Nasdaq composite was up 177.15 points at 17,733.18.
The Canadian dollar traded for 74.19 cents US compared with 74.23 cents US on Wednesday.
The October crude oil contract was up US$1.75 at US$76.27 per barrel and the October natural gas contract was up less than a penny at US$2.10 per mmBTU.
The December gold contract was up US$18.70 at US$2,556.50 an ounce and the December copper contract was down less than a penny at US$4.22 a pound.
This report by The Canadian Press was first published Aug. 29, 2024.
The crypto market has recently experienced a significant downturn, mirroring broader risk asset sell-offs. Over the past week, Bitcoin’s price dropped by 24%, reaching $53,000, while Ethereum plummeted nearly a third to $2,340. Major altcoins also suffered, with Cardano down 27.7%, Solana 36.2%, Dogecoin 34.6%, XRP 23.1%, Shiba Inu 30.1%, and BNB 25.7%.
The severe downturn in the crypto market appears to be part of a broader flight to safety, triggered by disappointing economic data. A worse-than-expected unemployment report on Friday marked the beginning of a technical recession, as defined by the Sahm Rule. This rule identifies a recession when the three-month average unemployment rate rises by at least half a percentage point from its lowest point in the past year.
Friday’s figures met this threshold, signaling an abrupt economic downshift. Consequently, investors sought safer assets, leading to declines in major stock indices: the S&P 500 dropped 2%, the Nasdaq 2.5%, and the Dow 1.5%. This trend continued into Monday with further sell-offs overseas.
The crypto market’s rapid decline raises questions about its role as either a speculative asset or a hedge against inflation and recession. Despite hopes that crypto could act as a risk hedge, the recent crash suggests it remains a speculative investment.
Since the downturn, the crypto market has seen its largest three-day sell-off in nearly a year, losing over $500 billion in market value. According to CoinGlass data, this bloodbath wiped out more than $1 billion in leveraged positions within the last 24 hours, including $365 million in Bitcoin and $348 million in Ether.
Khushboo Khullar of Lightning Ventures, speaking to Bloomberg, argued that the crypto sell-off is part of a broader liquidity panic as traders rush to cover margin calls. Khullar views this as a temporary sell-off, presenting a potential buying opportunity.
Josh Gilbert, an eToro market analyst, supports Khullar’s perspective, suggesting that the expected Federal Reserve rate cuts could benefit crypto assets. “Crypto assets have sold off, but many investors will see an opportunity. We see Federal Reserve rate cuts, which are now likely to come sharper than expected, as hugely positive for crypto assets,” Gilbert told Coindesk.
Despite the recent volatility, crypto continues to make strides toward mainstream acceptance. Notably, Morgan Stanley will allow its advisors to offer Bitcoin ETFs starting Wednesday. This follows more than half a year after the introduction of the first Bitcoin ETF. The investment bank will enable over 15,000 of its financial advisors to sell BlackRock’s IBIT and Fidelity’s FBTC. This move is seen as a significant step toward the “mainstreamization” of crypto, given the lengthy regulatory and company processes in major investment banks.
The recent crypto market downturn highlights its volatility and the broader economic concerns affecting all risk assets. While some analysts see the current situation as a temporary sell-off and a buying opportunity, others caution against the speculative nature of crypto. As the market evolves, its role as a mainstream alternative asset continues to grow, marked by increasing institutional acceptance and new investment opportunities.
