yes I hate it that we're halfway through the year and summer will fly past. So good advice. Saving? For retirement? Here are some more things to consider: 1) Canada has one of the most secure banking systems in the world. You could do much much worse. 2) do continue Invest in RRSPs or other funds that over the long haul compound your money. The principle is that over only a few decades if you can keep adding to your savings, you could have enough money to keep you in the style to which you want to be accustomed. :-) May I suggest this 5 hour course in addition to your financial advisor: https://www.mcgillpersonalfinance.com/. It is well worth the time if you want reinforcement that you are doing the right thing. 3) Never forget if something dire happens that tanks the financial infrastructure, we'll all be in the same boat. If your money becomes worthless so will everyone else's and we'll make it through it. we always do. (I'm becoming hopeful at my ever increasing age!)
thanks for weighing in M. yes i was never worried about my money disappearing but more the overall strategy of this boring RRSP fund which isn't so boring if you actually use it. I think the bigger issue for most people in the past few years has been just being able to keep up with inflation and interest rates. And then if you can keep your head above water you need to get familiar with budgeting tools which are not always easy for the creative brain to tackle.
yes I hate it that we're halfway through the year and summer will fly past. So good advice. Saving? For retirement? Here are some more things to consider: 1) Canada has one of the most secure banking systems in the world. You could do much much worse. 2) do continue Invest in RRSPs or other funds that over the long haul compound your money. The principle is that over only a few decades if you can keep adding to your savings, you could have enough money to keep you in the style to which you want to be accustomed. :-) May I suggest this 5 hour course in addition to your financial advisor: https://www.mcgillpersonalfinance.com/. It is well worth the time if you want reinforcement that you are doing the right thing. 3) Never forget if something dire happens that tanks the financial infrastructure, we'll all be in the same boat. If your money becomes worthless so will everyone else's and we'll make it through it. we always do. (I'm becoming hopeful at my ever increasing age!)
thanks for weighing in M. yes i was never worried about my money disappearing but more the overall strategy of this boring RRSP fund which isn't so boring if you actually use it. I think the bigger issue for most people in the past few years has been just being able to keep up with inflation and interest rates. And then if you can keep your head above water you need to get familiar with budgeting tools which are not always easy for the creative brain to tackle.