faq
Want to know the questions we're most commonly asked? If you've got questions like this, you are not alone. We can help you tackle yours, one at a time.
Should I contribute to my TFSA or RRSP?
Short answer: you can't go wrong with either and getting your money into a tax sheltered account is a smart step to building wealth. Either is generally better than investing in a non tax sheltered account. Which account is specifically better for you? That depends on your marginal tax rate now and the amount of income you expect to pull in retirement. We talk through this decision in Investing 101.
How much do I need to retire?
A good rule of thumb is 25x the income you think you'll need to live on each year. But everyone's number is different. Mine is different from my best friend’s and different from my boss. And how much you’ll need to save is also based on if you have a pension, if you’ll qualify for CPP and OAS and other income sources. Let’s chat about it more in our Investing 101 module.
What should I invest in?
Did you know that a blind folded monkey throwing darts picks stocks better than a pro 98% of the time? It’s true, search it up. People can pick individual stocks and they can perform well, but it’s really solid advice to invest in boring index funds. Which index fund depends on your time horizon and risk tolerance. We chat about that in Investing 101 modules.
Have a question you want to see here?
Use our contact form and send it to us. If others are asking it too, we'll add it here. Want to understand your question in the context of your specific situation, with your numbers and your needs on the table? Book a session and we'll help you get the clarity and confidence you need.