Investment benchmarks are pretty much useless unless you are invested in an index fund. There has only ever been one combination of you, your money, your objectives, and your strategy. Let's create a benchmark that reflects that.
Boogeymen aside, right now there are two things that scare me: Interest rates and Inflation. I know, I'm a strange person. But hear me out.
Each year we spend money on things. For the last few years I’ve let you in on the best things I’ve exchanged money for and what I got out of it (more room, improved health, better coffee) This year, most of the list takes place in the bathroom…..
I read a lot of books. Well, I have other people read them to me while I drive and work out (audiobooks) but I think that still counts. Since I’ve been keeping track, I average about 20 books a year. Some are amazing, some are awful and most are a different take on the same ideas. Every once in a while though, a book just connects with me and changes the way I see things. Here are 3 of those books from this past year.
Today, I want to look at one that has burned my clients in the past: Group RRSP default investments. Chances are, that default is a Money Market fund, a glorified savings account that will never keep pace with inflation. Some companies use this as a holding tank until you make a decision on what else to invest in.
"It all started in 1950 when a diner forgot his wallet at a New York restaurant. That day, the modern credit card was born and the way people pay for things was changed forever."