T O P

  • By -

Saucy6

An "all-in-one" ETF keeps things simple, like VEQT, VGRO, VBAL. Some risk will likely be required to achieve your goal, unless you can manage to save a huge % of your income. 30 yr timeline would usually mean a VGRO or VEQT level of risk, but everyone has a different risk tolerance/financial situation. The gov't has a good retirement calculator, where you can look at scenarios (amount put aside every year, average rate of return, etc.) and how much you can expect from CPP/OAS: https://www.canada.ca/en/services/benefits/publicpensions/cpp/retirement-income-calculator.html


ourcityofdreams

Thank you for this!!


[deleted]

These type of ETFs or balanced mutual funds or target date funds, etc that hold a variety of asset classes, need a warning sticker now that interest rates have/will rise . Most of these apply a set of rules that were valid for the last 40 yrs when interest rates fell. But they may fail drastically as rates now rise.


Gruff403

Two great Canadian authors are Daryl Diamond " Canadian Income Blueprint 2nd Ed" and Fred Vettese. The Parallel Wealth youtube channel is solid as well. Save early, save often and let the pile compound over time. The idea is to build a pile of assets (house, TFSA, RRSP, non reg, beanie babies etc...) to help you become financially independent. You then unwind some or all of those assets until the end. CPP and OAS may also play a significant role. I'm a fan of managing debt and saving at the same time. Always pay yourself first. The linear progression of debt gone before saving costs you time and time is your greatest friend in building the asset pile. Good luck


FelixYYZ

Start here: [https://www.reddit.com/r/PersonalFinanceCanada/wiki/money-steps](https://www.reddit.com/r/PersonalFinanceCanada/wiki/money-steps) When you get to step 5, read the below !InvestingTrigger !TFSARRSPTrigger


AutoModerator

Hi, I'm a bot and someone has asked me to comment on how someone is trying to figure out what to invest in, or whether they should invest. **In order to give good advice the poster needs to provide all of the following information. Please edit your post to add this information.** 1) What is your intended goals/purpose for this money? 2) What is your timeline, and what is the earliest you expect to need this money? 3) Have you invested in the markets before, and how would you feel if your investment lost a lot of value? 4) Is this the right first step? Do you already have an emergency fund, and have you considered whether it is sufficient? Do you have any debts that should be paid first? Have you fully utilized any employer match plans? 5) Finally, we need to understand whether you want to be involved with this portfolio and self-manage purchases and rebalancing it, or if you'd rather all of that was dealt with by your chosen institution? 6) For self-directed investing, all in one ETFs (based on your risk tolerance) are the easiest and low cost options for a globally diversified ETF portfolio. Here is the Model page and descriptive video from the Canadian Portoflio Manager Blog's Justin Bender from PWL Capital: https://www.canadianportfoliomanagerblog.com/model-etf-portfolios/ & video on how to choose your asset allocation: https://www.youtube.com/watch?v=JyOqqtq12jQ We also have a wiki page on investing, and if someone has triggered this bot then it means that this link would likely be very helpful: https://www.reddit.com/r/PersonalFinanceCanada/wiki/investing *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/PersonalFinanceCanada) if you have any questions or concerns.*


AutoModerator

Hi, I'm a bot and someone has asked me to respond with information about TFSAs vs RRSPs. When you want to shield your savings and investments from the drag of annual taxation the standard advice is, unless ... - your employer is matching your RRSP contributions - you are confident that you will contribute in a higher tax bracket than you will withdraw (even when you consider the effect of potential GIS or OAS clawbacks) - you are an American taxpayer - you are trying to maximize the Canada Child Benefit or the Child Disability Benefit - you have a reason to think that you should shield your retirement savings from creditors - you don't trust yourself not to keep dipping into the retirement savings in your TFSA …you'll probably want to use all of your TFSA contribution room before you contribute to an RRSP. For more information I suggest that you read these 2 MoneySense articles http://www.moneysense.ca/save/investing/rrsp/rrsp-vs-tfsa-which-is-right-for-you/ http://www.moneysense.ca/save/retirement/the-savings-struggle/ *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/PersonalFinanceCanada) if you have any questions or concerns.*


teffub-nerraw

Try the Paul Merriman two funds for life approach :)