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It’s never too early to start
For young people with budding careers and thriving businesses, retirement is a
remote dream. It seems the concern of another generation.
You may be too busy to think about retirement, but it will arrive,
regardless of how prepared you are. Right now is always a great time to start sowing the seeds for your future. Everyone should have a
retirement plan that provides for today's expenses and still recognizes tomorrow.
It's a good idea to familiarize yourself with the risks to money set aside for investment. Based on your values, you may have different reactions to risk. After all, not all investments are appropriate for all people. Be honest with yourself and assess what kind of investor you are:
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Investor Type |
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Characteristics |
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Conservative |
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Preserves capital, wants predictable returns |
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Moderate |
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Wants long-term steady growth with income potential |
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Balanced |
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Balances between risk and return, accepts moderate market swings |
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Growth |
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Does not require immediate income, accepts potential of wider market swings as part of long-term growth |
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Aggressive |
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Accepts wide market swings in pursuit of long-term capital appreciation |
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On the basis of this assessment, you can start thinking about your retirement plan. A good plan needs to factor in your goals, investment timeframe and what you can afford together with your tolerance for risk.
To more accurately determine your risk tolerance, talk with your advisor, or contact us to reach an advisor in your area.
Learn more about our insurance and retirement products for Canadians.
Start Thinking About Your Retirement »
RRSPs »
RRSP Maturity Options »
Deferred Annuities »
A Closer Look At ... »
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