A Guide for the Beginner Investor

Check out these tops tips for a beginner investorFebruary 1, 2013

Are you a new earner looking to make a plan for your money? With so many savings and investing options, it can be overwhelming to get your finances on the fast track.

That’s why we’ve created this handy investing guide, brimming with basic do’s and don’ts for savings vehicles, RRSPs, mutual funds and more.

The ABCs of Your Savings Options

You know you should grow your savings – but are you picking the best options for that nest egg? From RRSPs, RESPs to GICs, it’s easy to get wrapped up in the ABCs of putting your money away.
We’ve explained which savings vehicles are best suited for you, based on your age and financial goals.

Read Allan’s Blog | The ABCs of Your Savings Options

Busting Myths About Mutual Funds

Mutual funds are one of the most popular investment methods, but they’ve gotten a bad rap lately for hidden fees and misleading advisors. A recent study from ING Direct shows 50 per cent of poll takers are in the dark about the costs of their investments.

If you’re looking for an honest approach to your mutual funds, check out our top tips and questions to ask your financial advisor.

Read Diane’s Blog | Busting Myths About Mutual Funds

9 Common RRSP Mistakes to Avoid

RRSP season is here – but are you guilty of making one of these common money mis-steps? Turns out, committing these savings sins can leave you with less in your piggy bank.

Check out the top 9 RRSP mistakes made by investors, and how you can avoid them on your road to successful retirement savings.

Read Melanie’s Blog | 9 Common RRSP Mistakes

And in other finance headlines…

Q&A With Gail Vaz-Oxlade

We caught up with Gail Vaz-Oxlade, renowned personal finance author and host of popular TV series “Princess” and “Til Debt Do Us Part”. Read on for her take on the financial literacy information gap, why new earners struggle with finances, and how to get your kids started off on the right financial foot.

Read Penelope’s Blog | Q&A With Gail Vaz-Oxlade

Canada’s Income Gap: A Global Issue

New numbers from Statistics Canada show that 10 per cent of all wealth generated in Canada go to its richest earners. What are the causes behind this income gap, and what can the average wage earner do to get a bigger share?

Read Rubina’s Blog | Canada’s Income Gap

Visa Outage: Would You Be Prepared If Your Credit Card Stopper Working?

On Monday, a nationwide Visa outage left thousands of cardholders in a lurch. The incident cast a light on just how dependent we are on our plastic. Read on for our tips for staying prepared in the case your credit card stops working.

Read Sean’s Blog | Visa Outage: Would You be Prepared?

Moody’s Downgrades 6 Canadian Banks

A new round of Moody’s downgrades has cut the ratings of 6 Canadian banks by one notch. What does this mean for Canadian consumers and borrowers?

Read Penelope’s Blog | Moody’s Downgrades 6 Canadian Banks

You Answered!

This week, we asked Money Wise readers:

What is your preferred method of investment?

46.2% say mutual funds are their investment of choice, preferring to leave the details in the hands of their financial advisor.

40.7% of poll takers say GICs take top spot – even with today’s low interest rates, nothing beats a foolproof guarantee!

13.2% prefer to invest their money in Government of Canada bonds, despite our nation’s “safe haven” status.

Want the chance to WIN a great prize? Check out this week’s poll:

Would you rather pay down your mortgage or take advantage of RRSP contributions?

Have a topic you’d like us to cover? We’d love to hear from you! Give us a shout in a comment, or visit us on Twitter and Facebook.





Related Topics

Savings / Savings News

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>