what is the best way to save for retirement and where should I invest?
I invest in rrsp's but I am not happy with their returns. I am wondering what I should be investing in since I will not be retiring for 30 more years. There are so many options and I am looking for something with good growth potential but not too much risk.
Public Comments
- read bobbrinker.com
- The best way to save for retirement is to start early and save regularly. Why not have a certain amount of your paycheck deposited into a special account that you use to purchase a mutual fund. The closer you get to retirement, the less risk you will want to have in your portfolio. I recommend Vanguard www.vanguard.com They have low fees and their site can tell you all you need to know. Start early and save regularly!!
- There is not enough information to answer your question. It depends on how old are you right now and how much money you make each year and how much you already have and how much are you going to need in the future and many other factors. Drop me a line if you need more detailed information.
- Alot depends on your current and anticipated future earnings. If you have an employer sponsored plan that matches, start there. Get all of the free money you can. Beyond that, consider a Roth IRA. Having both taxable and tax free sources of income in retirement will allow you to have more control on taxation of cash flows in retirement. Find a financial planner in your area. Ask your colleagues, friends and relatives who they have used. Check out the Planner Search feature on the Financial Planning Association's website, www.fpanet.org
