Wednesday, January 14, 2009

driving a rickshaw in the rain

So... we met with our financial advisor last night to take care of our new TFSAs and he recommended using the same fund that we have as our RRSP for this account, stating that in the long run it is a great time to buy and once we rebound from this recession we'll make tremendous gains. My wife agreed with him, but he also offered a different fund that was a little more conservative which is the one I picked. So now we'll see whose prognostication is correct - is the economy contracting permanently?

5 comments:

ghost said...

im afraid it might be, brother.

Mercenaria said...

I'm not sure if it is or not - but being in a position to save is far better than not.

I'd say to everyone I know - pay off your debts as quickly as possible - and then save as much as you can for those rainy days... (or freezing days)

meznor said...

Is the universe contracting or expanding right now?

I just moved some money into a 2-year GIC since my savings account interest rate went down by 0.3% and the GIC will offer 0.5% more than what my original savings account offered.

Debstar said...

I think the next two years are going to be nasty.

Zhoen said...

Regression toward the mean.