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Financial Library

What's Your Investing Personality?

Just as each of us is unique as a person, we also have a distinct investing personality. One isn't better or worse than the other, but understanding "who” you are as an investor is helpful, no matter your circumstances, or how much money you have to invest. While it's a complex matter that depends on various factors, exploring the questions below may give you some preliminary insight into your investing personality.

The Many Benefits of RESPs

As busy parents, just meeting your family's needs each day can eclipse thoughts of the future. Add to that juggling act the cost of running a home, daycare, mortgage and car payments, and it's easy to see how setting funds aside for a child's future education can become something you'll "do later" when you have the time and money.

The Power of You

The key financial planning lesson that Covid-19 has taught us all, is that no matter how many planning scenarios a person considers, it is extremely difficult to get it perfectly right!

Covid has impacted Canadians' ability to hold, build and keep cash reserves. For many, it has affected their ability to work and earn a living, and for many small business owners, it has threatened their very survival. No matter how much planning small business owners did before the pandemic hit, very few set aside enough capital reserves for 12 months or more.

Questions. Questions. Questions.

It is increasingly difficult to ignore some of the trading action in the markets that is causing surprising moves in equity values while the underlying economy continues to struggle (refer to U.S. unemployment data, for example). This type of divergence has occurred in the past and at some point, the values reflected in the stock, bond and real estate markets are expected to closely reflect the underlying economy eventually.

Time-Tested Money Management Strategies

As we grow up, what we learn about money from our parents can significantly influence how we earn, save, and grow our wealth. Meaghan, an elementary school teacher, credits her mother for her healthy approach to finances today. "I was lucky to grow up understanding that I could control my financial future if I was smart about it." There's a lot to be learned from a generation that knew how to manage their finances and feel optimistic about the future. Consider these time-tested principles that you can use to enhance your relationship with money.

Preparing for Retirement? Learn How RRIFs Work

If you've been contributing to a pension or Registered Retirement Savings Plan (RRSP) and retirement or your 71st birthday is around the corner, you're required to convert that nest egg into a Registered Retirement Income Fund (RRIF). This benefits you because an RRIF allows you to withdraw savings as income while still letting you grow your investments and minimize taxes.

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This publication and website are intended for Ontario residents only and the information contained is subject to change without notice. Mutual Funds are offered and regulated through Global Maxfin Investments Inc. (GMII). Insurance products (including Segregated Funds) and Income Tax Preparation is provided under the name of Ausim Mobeen. GMII does not supervise these activities and will not be accountable, responsible or liable for such activities. This publication contains opinions of the writer and may not reflect opinions of GMII. The information contained herein was obtained from sources believed to reliable, but no representation, or warranty, express or implied, is made by the writer or GMII or any other person as to its accuracy, completeness or correctness. This publication is not an offer to sell or a solicitation of an offer to buy any of the securities. The securities discussed in this publication may not be eligible for sale in some jurisdictions. If you are not a Canadian resident, this report should not have been delivered to you. This publication is not meant to provide legal or account advice. As each situation is different you should consult your own professional advisors for advice based on your specific circumstances.