Q – My husband and I are both 45 and set to retire in 15 years. We have the majority of our money invested in mutual funds divided between RRSPs and cash accounts. We are looking to do some planning and wonder where we should be withdrawing money from first in...
Q – I would like a guaranteed income stream from my investments, but the return on GICs and T-bills is very little these days. A friend of mine just purchased an annuity and highly recommends it. What is an annuity, and will it provide guaranteed income? – Melissa...
Q – I am a 25-year-old single female, and I just started my first job. I have put together a savings program for major purchases like a home and hopefully one day a wedding and children, but I have not saved a cent for my retirement. What is the best way to go...
Q – I am a self-directed investor, and I am growing very tired of the huge swings in the market. Can you please give me your opinion on the latest market downturn? James R., Victoria, British Columbia A – Markets are going through an equity cycle, and we are in a...
Q – My wife and I put all of our savings into our mutual fund portfolio. We are doing okay but fear that we may not have enough money to retire while supporting our growing family and taking care of our aging parents. Do you have any advice for people like us?...
Q – How much should I be paying my financial advisor in fees? I invest primarily in mutual funds, and the costs are all embedded, so it is difficult to tell if I am overpaying. — Diane B., North York, Ontario A – There are many ways financial advisors charge fees,...
Q – Should I be redeeming my mutual funds to protect my investments in this volatile time? – Jim B., Strathroy, Ontario A – Not necessarily. First of all, don’t panic! Markets fluctuate and regularly experience periods of volatility. During especially uncertain...
Q – I am 64 and will retire next year. I have a locked-in pension from my old employer. Do I need to wait until 72 to cash out my mutual funds? Please help! – Samantha K., Niagara Falls, Ontario A – When an employer makes contributions to a registered plan for you,...
Q – A friend of mine says she invests in a “couch potato portfolio,” and her returns are higher than my mutual fund portfolio! Is this possible, and do you recommend this type of strategy? Candice S., Vancouver, BC A – The “couch potato” portfolio is so named...
Q – I am 70 years old, and my investment advisor has proposed that I reduce the risk in my portfolio. I require a high level of income from my investments and do not want to erode my principal. What is the right asset mix? – Melissa T., Banff, Alberta A – The...
Q – I have 16 different mutual funds in my portfolio of $600,000. I am a novice investor, and feel much better to have my assets diversified. Is there such a thing as being too diversified? – Glen B., Peterborough, Ontario A – A properly diversified portfolio will...
Q – I am a 60 year old male and make $120,000 annually. I am looking for a way to shield as much tax as possible while allowing my investments to grow. What structure do you recommend? – Ted Y., Stratford, Ontario A – If you have maximized your Registered...