Financial Library

As with many retirement savers, it took two stock market crashes (2001, 2008) and a global financial crisis to convince Adam and Sonya that trying to "time the market" or pick specific sectors was a costly exercise in futility. But, with the value of their RRSPs nearly halved in the 2008 crash, they also recognized that they could not afford to avoid equities if they were going to have any chance of meeting their retirement goals. That’s when they adopted the time-tested, academically-based principle of diversification in their investment strategy.

Most Canadians want to pass their life savings on to their heirs. The assets remaining once retirement needs are met will be distributed more effectively if there is a properly prepared will detailing the deceased's wishes. Many people mistakenly believe that this issue is far in the future. Preparation of a valid will and its related estate planning considerations should be the cornerstone of a proper estate plan. Whenever there is a change in circumstances, the will should be reviewed and updated as needed.

When asked if they had any regrets, Baby Boomers wished they had started investing and saving at a much earlier age.

You have probably heard the phrase; too much month left at the end of the money.