- Slow and steady wins the race! Getting started and staying the course are “catch phrases” you will hear forever when it comes to investing. Not planting, or sowing means there will never be anything to reap, and not tending or adding to your garden means it will never reach its’ full potential.
- Stay focused! Investments can be scary at times. A strong financial advisor will help through tough times and encouragement to remain focused on the ultimate goal – retirement – will be one of their (Frank’s) most important attributes. You have either been saving all your life or you are planning to. Contact Frank to guide you through the investments most suited to your situation!
- Focus on equity based mutual funds! This garden will stand the test of time developing deep roots. Great companies achieve growth over long periods and establish strong foundations. Portfolio managers analyze these companies and the best are included in our mutual fund portfolios. A portfolio with an appropriate amount of equities will help new and mature portfolios bloom consistently.
- Use the right tools! RRSP’s are a cornerstone of most ‘Dream Retirements’ and the retirement landscape in general. They are not evil, though often misunderstood. RRSP’s allow money, otherwise used to pay tax, to be used for investing. $5,000 per year that would otherwise be paid to CRA, could grow significantly over time. Tax Free Savings Account or TFSA! In my opinion, probably the best and most timely option ever presented to the Canadian public! Consider this. Since instituted in 2009, maximum contribution room would equal $57,500 by 2018. Even better, the TFSA can have named beneficiaries and successors who can receive the proceeds upon the death of the account holder, TAX FREE! If money is taken out, it can be put back in future calendar years. Ask Frank for examples of how a TFSA can be an essential part of your retirement!
- Spending less doesn’t mean living less. It means looking closely at the experiences you have or wish to have, and realizing which expenditures do not add to your happiness. You will likely find that vacations, cars, homes, dining out or eating in, can be done on 80% to 90% of current spending, possibly less. Start by practising the habit of paying yourself 1st. This will force you to look more closely at costs and simply make choices that fit within the new budget! Remember, you are just putting off spending the money.In retirement you will be able to afford more instead of less! Ask Frank for a free consultation on where to save money!
- Investing regularly reaps rewards! Assuming a $5,000 annual investment, at 5% annual rate of return over 30 yrs and your total will be $348,804 which includes $198,804 of growth. If in a TFSA, completely TAX-FREE! Many mutual funds perform very well, keeping in mind, future performance is not guaranteed, learn which track records will impress you and why. Contact Frank Gasper to inquire about exceptional long-term results for your portfolio!
These are just 6. There could be 50 more reasons for starting and continuing to sow seeds in your garden AND your retirement garden. Frank can discuss many of these with you. His experience and dedication to helping you fulfill your dreams can ensure that you understand that this IS achievable. So many buy into the retirement dream of a lifestyle depicted in lottery commercials, next time imagine that IS you and that you did all this yourself, with 100% certainty, because you made the decision to plan! Sow your garden, make your own lottery!