Victoria: The ABCs Of RRSPs
By Don Reed
(NC)- Saving for your retirement does not need to be complicated. Keep it simple by following the ABCs of RRSPs:
- Start thinking about your retirement.
- Remember it's never too late to start contributing to your RRSP.
- If you don't have an investment advisor, get one. Find out how online at www.franklintempleton.ca.
- Develop a retirement plan with your advisor and stick to it.
- Determine your RRSP contribution room to maximize your savings potential and reduce your personal income tax.
- Diversify your portfolio by asset class, geographical region, investment style and market capitalization.
- Ignore short term market volatility and think long term. Do not lose sight of your financial goals.
- Meet annually with your advisor to review your RRSP.