Your retirement dreams can come true if you have a solid investment plan in place. Follow these four golden rules and put yourself on the path to successful retirement planning.
The Aviso Wealth Mutual Funds Investment Specialist at your credit union can help you develop an investment plan suited to your unique requirements, your time horizon, and your tolerance for risk. With a plan guiding your investment strategy, you’ll feel comfortable today, and secure about tomorrow even when markets get stormy.
Short-term fluctuations in the value of any equity based investments are normal. In fact, volatility is necessary to achieve higher returns over the long term. Your investment plan should be built to withstand those fluctuations. Rebalancing may be required from time to time (your Mutual Funds Investment Specialist can help you with that) but impulse buying and knee-jerk selling are not part of the plan. Markets tend to rise over the long term, so rely on time, not timing the markets, to reach your goals.
Skipping just one annual RRSP contribution of $5,000 could reduce the value of your retirement nest egg by almost $17,000 after 25 years (assuming an 5% average rate of return, compounded annually).
The easiest way to invest regularly is with a Pre-Authorized Contribution (PAC) Plan. You’ll automatically invest a fixed amount of money every month in your chosen investments.
With this graduated approach, there’s no need to guess at the best time to invest. Your money automatically buys more units when prices are lower, and fewer units when prices are higher.
Different types of investments react differently to economic events. When you hold a variety of investments in your portfolio, you protect yourself against day-to-day fluctuations in any one category. At the same time, your portfolio has a better chance of benefiting from the current best performing asset class.
This article is courtesy of “Aviso Wealth” your credit union’s partner in providing you with wealth management services.
Mutual funds are offered through Aviso Wealth Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Unless otherwise stated, mutual fund securities and cash balances are not insured nor guaranteed, their values change frequently and past performance may not be repeated. The information contained in this newsletter is provided as a general source of information and should not be considered personal tax advice, investment advice or solicitation to buy or sell any mutual funds.
For more information on this or other retirement options,
contact Devron at 204-937-6557 or email firstname.lastname@example.org