If you are like many Canadians, you are probably just turning your attention to your RRSP and retirement portfolio. In fact, it may be the first time you’ve contemplated your retirement plan in a year, so you should probably sit down and do some reading before heading in to see your financial advisor.
This post points you to some tools and information that can help you during this RRSP season and beyond. After all, you should be checking in on your portfolio and keeping your financial plan in mind throughout the year.
- A free publication available in PDF format. You can download it to your computer, load it onto a tablet, or print it off for quick reference. It gives practical guidance on how to choose (or change) your investment advisor, and provides forms you can use to document your financial position and goals.
- The Risk Test is a good way to discover your personal risk tolerance, and the About Investments section of the website will allow you to learn about different types of investment products and the risks associated with them. Going over this section will help you discuss products your advisor might put in front of you when you meet about your RRSP.
Get Smarter About Money’s calculators
- The Investor Education Fund provides an RRSP savings calculator and Mutual Fund fee calculator on its website. There are also a number of other useful calculators on this site.
- The Investment Industry Regulatory Organization of Canada (IIROC) provides this free resource to help investors understand how equity trading works, and their rights and obligations when trading on equity marketplaces.
CBC: Special Report: RRSP Season
- This section on the CBC’s website has analysis, articles, and tools you can use to get current information on topics related to retirement and retirement planning.
- This special feature in the Globe’s RRSP section discusses various investing-related topics over the month of February.
If you have any other suggestions, please let us know through our comment section.
We’ll be following this blog post up with two more posts in the coming weeks. Our next post will talk about Fund Facts, and our third instalment will present some more tools you can use to protect yourself from fraud.