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By Susan Lazaruk
The Province, Money RRSP Series
February 16, 2001
Some tips from Adrian Mastracci of KCM
Wealth Management, who says, "Investors spend
far too much time on the selection process and
not enough time on the investment policies and
strategies they will follow to reach the unique
RRSP goals":
- Do your homework before you invest. Park the
funds temporarily until you have all the answers.
- Build a strategy based on your goals, risk
profile, time horizon and desired level of diversification.
- Your RRSP is for your pension -- for some,
it's the only one -- so be aware of risk.
- Measure your RRSP success, whether it's against
the TSE 300, the CSB rate, or the best performing
mutual funds. But also remember the only important
benchmark is the return required to reach financial
independence in retirement.
- Determine whether you are a conservative,
balanced, growth, aggressive or speculative
investor.
- Remember: Many investors have learned that
chasing the best performing, hottest funds is
an excellent strategy to get burned.
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