Taking Control of Your Financial Future

09 February 2010

 spiritofmoney

By Allison McDonald-Sordo, Investment Advisor TD Waterhouse Private Investment Advice

Necessity is the mother of invention. Long gone are the days when employees could count on an employer or the government to provide for their retirement income. We live in a “do it yourself” world and Canadians, recognizing this, are taking increasing control of their financial future, especially when it comes to planning for their retirement.

As a result, increasing numbers of Canadians are relying on regular personal investing as a way of ensuring they have enough income to support them comfortably during their retirement years. And in making this decision, many are considering stocks, bonds, mutual funds and other kinds of investments as a means of securing their future.

Until quite recently, many investors tended to hold “low-risk” investments, such as Guaranteed Investment Certificates (GICs) and Canada Savings Bonds. While such investments offered the advantage of exceptional safety, the returns they delivered were rarely enough to keep pace with inflation and pay tax.

Times have changed. Increasingly, Canadians are turning to higher risk investments to put them in a more favorable financial position in the long run.

The final move is to get started. Talk with an investment advisor and establish a strategy that maximizes your regular monthly contributions. And make investing a priority. Keeping your investment strategy consistent with your personal needs is vital. Your investment advisor can help you do just that.

This article was prepared by TD Waterhouse Private Investment Advice for Allison McDonald-Sordo who is an Investment Advisor with TD Waterhouse Private Investment Advice and is for informational purposes only. It is not an offer or solicitation with respect to the purchase and sale of any investment fund, security or other product and does not provide individual, financial, legal, investment or tax advice. Please consult your own legal and tax advisor. TD Waterhouse Private Investment Advice is a division of TD Waterhouse Canada Inc., a subsidiary of The Toronto-Dominion Bank. TD Waterhouse Canada Inc. – Member CIPF. TD Waterhouse is a trade-mark of The Toronto-Dominion Bank, used under license.

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