Quote:
Originally posted by DP_gta
RRSP: Long term- if you are above 45, try GWMB you are assured of atleast 5% bonus growth with market downside & creditor protection, like Manulife Income Plus, IA Ecoflextra or Helios (the last two give 7% gauranteed bonus over and the above the equity growth). If you are younger yet have no stomach for risk but want the malai (cream) of market growth then go Seg fund like IA asset Allocation, CI Harbour,
What is GWMB.?
Location: carl sagan's universe
Posted on: 10-02-09 14:24:07
Quote:
Originally posted by DP_gta
Quote:
Originally posted by Bingo
Meat comes from equity market, they grow fastest. The market is unlikely to turn around for 3 yrs (they say maybe market will recover after going down a further 30%)
RRSP and TFSA are complimentary to each another
Clem Chambers has a different take.
http://watch.bnn.ca/#clip138450
Some say his middle name is 'Chakram' others 'clairvoyant'
Be very careful and suspicious of anyone who says with supreme confidence that the worst of the recession is over, recovery is just round the corner and this is the time to buy into the equity markets with managed mutual funds (usually the ones he/she or their company is selling).
The problems with the recession are structural in nature and rooted into the very guts of how the Western economies have been functioning for the past couple of decades or so.
It will take time to work itself out and until then the risk levels will stay very high.
Seemingly stable companies can go bankrupt and large, too big to fail type companies will also bite the dust.
-----------------------------------------------------------------
"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."
-- Rhett Butler in "Gone with the Wind"
so at this time safer option should be Gic for a year or so and then go how market is
Quote:Yes, unless you have deep convinctions on where and how the market will move in the next little while or have advanced trading skills.
Originally posted by Bingo
so at this time safer option should be Gic for a year or so and then go how market is
As Investpro says, "kaleja"
To keep your investment safe and get guarnateed return, go with GIC, Savings Accounts or just pay off debt.
Unlike what the banks and mutual fund sales people want us to believe, RRSP is not the be-all and end-all of everything.
It's not the end of the world to skip RRSP one year and focus on debt repayment or building cash reserves.
-----------------------------------------------------------------
"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."
-- Rhett Butler in "Gone with the Wind"
How is State Bank of India (Canada)'s RRSP. They are giving interest rate of 3.35% for 1 yr. But this is handled by Canadian Western Trust.
Is it insured by CDIC?
