Start saving. It sounds kind of obvious, but if you spend everything you make, there’s nothing left over for your RSP.
Make an RSP contribution every year, starting now. Don’t put it off. Because the biggest thing you’ve got going for you is the power of compounding. The longer your investments grow, the bigger they grow.
Set up a pre-authorized contribution (PAC). If you have a difficult time saving on your own, let us help. Once a month, or however often you wish, we’ll automatically transfer a set amount into your RSP. It spreads out your contribution through the year so you don’t end up scrambling at the contribution deadline.
Okay, so now you have some funds in your RSP. What do you do with them? Do you invest in stocks, bonds, mutual funds, GICs? Here are some questions you should ask.
This is where a Meridian advisor can help. We will work with you to clarify your retirement goals, and then help put together a plan that will help you reach them.
Because the whole point of having a plan is being able to ride out volatile markets instead of responding to every little bit of economic uncertainty. To keep yourself focused on your goals. And to let you sleep at night, knowing that you’re heading in the right direction.
To discover whether a TFSA is right for you vs. a RSP, click here.