Peter Tessari and Patrick Nesci were the guest presenters at our February meeting. They are wealth and investment advisors.
Takeaways by Heather Woodley
THE RETIREMENT CHALLENGE: With an anticipated 19 years of retirement the average Canadian anticipates only 11 years of savings.
RRSP ADVANTAGES: Your tax rate and the amount of tax paid in a lifetime are reduced.
TFSA ADVANTAGES : Your investments grow tax free and withdrawals do not impact income tax.
EMERGENCY FUND: Have 3 to 6 months of income in a savings account for any emergencies.
ESTATE PLANNING: Important documents include: wills, Power of Attorney, trusts and charitable donations
BEAR AND BULL MARKETS: A bull market describes a period when securities are on the rise. During a bear market securities fall for a sustained period of time. Historically bear markets last approximately 13 months, so if history is a guide the bear market will end this year as this is the 13th month of the current bear market.. Remember that bull markets last four times as long as bear markets.
FEAR IMPACTS OPPORTUNITY: To ensure your portfolio will always benefit from big positive days in the market , you must be willing to accept the bad days too. Stay invested; it pays off in the end.
DIVERSIFY YOUR PORTFOLIO TO MANAGE RISK: Have a plan talk to an advisor and make certain your money is growing to meet your needs.
