Speaking of RESPs, stay tuned to government developments regarding a new Bill that is being disputed before bringing to law. The bill allows RESP contributions to qualify for tax reductions in the same way that RRSP contributions do.
There is opposition to the plan within the government because they claim it will cost $900 million. I find that ridiculous. Here is a good idea that encourages education, savings and tax benefits for us peons but the government is worried about 'losing money'. Did they forget that they will eventually get their money back when it comes time for people to withdraw their RESP savings?
Ah ok, well even with more reason you should change advisors. Why stick with someone who seems not to care about looking out for your investments? At least you can make much more informed decisions with your baby's RESP's and stay in the loop with how it's going with an advisor who cares.
__________________
The opinions expressed by this poster can be offensive and are mainly directed at Dogo. Delta gamma b i t c h-orama. Copyright 2008 All rights reserved.
Hogo, you're better off changing advisors. And RESP's are for your children. RRSP's are for your retirement.
What i do is: at the end of every month, i make a deposit to my RRSP's. That way come RRSP season, you're not doing a huge lump sum all at once.
__________________
The opinions expressed by this poster can be offensive and are mainly directed at Dogo. Delta gamma b i t c h-orama. Copyright 2008 All rights reserved.
I only lost like $ 90 last year so I guess I have a pretty conservative portfolio lol I don't even know who or what I am supporting, my financial advisor never picks up the phone! I wanna get into RESPs now but the idiot won't pick up the damn phone I wanna retire by 50 or 55 tops, any tips from the pannel of experts here?!
This year will be prime time to get into the markets but I don't advise that you rush into it. There is still some downward trend left in the markets with the U.S. dollar weakness, high oil prices, subprime mortgage hangover and real estate boom tapering off.
Focus on stocks. Start doing research now. Go to the library and read books on stocks to get a good sense of the lingo and how to evaluate stocks. Talk to friends who have experience and more importantly, have been successful in the markets. Compile a list of stocks you like and follow them closely.
Assuming there are no huge meltdowns or catastrophes, I think October will be the ideal time to start investing, just prior to the U.S. elections.
The opinions expressed by this poster can be offensive and are mainly directed at Dogo. Delta gamma b i t c h-orama. Copyright 2008 All rights reserved.
Have you checked lately your Investments, Pension Plan, RSP's ???
Mayday ! Mayday we're going down!
Tell me about it. I don't know if you guys remember (or gave a s hit back then OR now), but I went through a fever of reading financial books (the wealthy barber, all Robert Kiyosaki and Warren Buffet books, etc). Anyway, because of my "extensive" research, I decided to start investing... very little, but investing nonetheless. Well, the MONTH that I started investing, Mutual Funds started going down. I check the friggin' thing every week ('cause of my OCD) and this past week it's been just awful!
Not only that, but because I thought I was an expert, I changed my RRSP to a more aggressive portfolio... needless to say, I've lost some much of my retirement funds, it's not even funny. But Buffet says to hang in there and ride the wave, so that's what I'm doing.
We're in the same boat....I lost 6K from my Pension Plan is 2 weeks period.
Are you serious??? I haven't checked up on my RRSP's. I hope i didn't lose any money or i'll be furious as well
__________________
If love is the answer, could you rephrase the question?
Quien les manda ser tan greedy pues? quieren todo de un solo. Slow and steady gano la tortuga.
__________________
The opinions expressed by this poster can be offensive and are mainly directed at Dogo. Delta gamma b i t c h-orama. Copyright 2008 All rights reserved.
Have you checked lately your Investments, Pension Plan, RSP's ???
Mayday ! Mayday we're going down!
Tell me about it. I don't know if you guys remember (or gave a s hit back then OR now), but I went through a fever of reading financial books (the wealthy barber, all Robert Kiyosaki and Warren Buffet books, etc). Anyway, because of my "extensive" research, I decided to start investing... very little, but investing nonetheless. Well, the MONTH that I started investing, Mutual Funds started going down. I check the friggin' thing every week ('cause of my OCD) and this past week it's been just awful!
Not only that, but because I thought I was an expert, I changed my RRSP to a more aggressive portfolio... needless to say, I've lost some much of my retirement funds, it's not even funny. But Buffet says to hang in there and ride the wave, so that's what I'm doing.
We're in the same boat....I lost 6K from my Pension Plan is 2 weeks period.
Have you checked lately your Investments, Pension Plan, RSP's ???
Mayday ! Mayday we're going down!
Tell me about it. I don't know if you guys remember (or gave a s hit back then OR now), but I went through a fever of reading financial books (the wealthy barber, all Robert Kiyosaki and Warren Buffet books, etc). Anyway, because of my "extensive" research, I decided to start investing... very little, but investing nonetheless. Well, the MONTH that I started investing, Mutual Funds started going down. I check the friggin' thing every week ('cause of my OCD) and this past week it's been just awful!
Not only that, but because I thought I was an expert, I changed my RRSP to a more aggressive portfolio... needless to say, I've lost some much of my retirement funds, it's not even funny. But Buffet says to hang in there and ride the wave, so that's what I'm doing.