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This newsletter is courtesy of Terry Fay and RetirementByDesign.ca. Please remember that while strategies outlined within this newsletter may be appropriate for some investors, you should always consult a financial advisor to determine if they are appropriate for you.
Sincerely,
Terry
Unfortunately, the summertime is over and for most of us this means we have had our vacation, the kids are back in school, and the golf clubs have been put away. However, this is a great time to take a minute and look at your finances and make sure you are saving accordingly and on the right path towards your desired retirement, where it can always be summertime.Below you will find a short article emphasizing the fact that consistent investing is key. It explains how the dollar cost averaging technique can help you maximize your gains and minimize your losses. The article also provides you with some helpful hints on how to get started.
The second article found below gets you to picture what you want your retirement to look like and whether you are taking the right steps towards it. It provides you with seven practical questions to consider as well as some other useful points to think about.
Please take a minute to read through these helpful articles and feel free to pass them on to anyone who you think may find them useful. If you have any questions please do not hesitate to give me a call.
Yours truly,
Terry Fay, CFP, RFP
Investment Advisor
Picture the retirement you want, then build a plan.
What does retirement look like for you? It’s a personal vision of course, but my guess is that—at least for the majority of you—it doesn’t look much like the hackneyed retirement images of slim, mature models sailing on their yachts. Maybe it means travelling the world. Are you hitchhiking or flying Concorde? Perhaps you’ll finally build that greenhouse you’ve always wanted, or maybe you’ll take up photography.
Your vision for retirement is an important step in your planning for the last 30 years of your life.
CLICK HERE for seven questions to help define your retirement
When it comes to investing, consistency is key.
Wayne Gretzky once said, “You will always miss 100% of the shots you don’t take.” Coming from someone who holds more scoring records than any other player in history, that’s pretty good advice. Investors can benefit from this advice as well by using dollar-cost averaging.
The idea is to invest on a regular basis rather than just when you think the time is right. By following the principal of dollar-cost averaging you can avoid the pitfalls of market timing. If you don’t invest today in the hopes that you’ll get a better deal tomorrow you may miss the mark altogether. Dollar-cost averaging encourages you to invest consistently based on a schedule that fits your budget. Even a small investment, made regularly, will add up over time. And dollar cost averaging can offer some important advantages.
All you really need to know is that we are committed to helping our clients achieve financial security and peace of mind.
Our Mission: Enhancing peoples lives by creating a positive life vision and the money to support it through our unique approach to financial planning.
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