What your concerns tend to be
You believe in investing your money for growth, and you want your money to grow. You have set money aside for your kids’ education, but you don’t know how far that will go. RSP contributions have always been a priority for you, but you are not sure if your pace of savings is the right one for you or what your retirement could look like. Tax Free Savings Accounts are in the media and you are unsure if you should use them and stop contributing to your RSPs or Group RSPs, and if so, what investments should you choose and do you really need both? How do all these work with your pension plan?
Additionally you wonder about the potential for ailing health of your parents and in-laws and how that could affect your retirement.
On top of this, you are concerned with what’s been happening in the markets. All you hear about are the issues of global recession, the effect the US debt could have on us, and the failure of major institutions to name a few. It’s bad economic news all around and it causes you to feel uncomfortable, sometimes not really understanding how this will impact you and requiring you to question whether you are doing the right thing. That’s because you “don’t know what you don’t know” about the right investments and strategies yet, and you’re still learning what’s going to work for you. You are frustrated because you see your investments mostly going down, and your bank or other advisor keeps saying “you need to hang in there”, but the results aren’t exactly what you want them to be, and you know you can’t keep doing the same things anymore because you keep getting the same under-whelming results. If we were really being honest, lately you’ve been wondering if you should be getting a second opinion.