Time is running out to make your RRSP contribution and take advantage of a tax deduction for 2010.
With the March 1, 2011 deadline fast approaching, here are three last-minute tips to consider:
1. Find an advisor
Chasing returns or the next big thing can only lead to disappointment. Guidance from an experienced investment advisor will take emotion out of the mix and help you meet your financial goals.
2. Contribute now
Don’t worry about how to invest your RRSP contribution. Temporarily park your contribution in a money market fund today and rebalance your portfolio tomorrow.
3. Diversify, diversify, diversify
Canada’s equity market represents only about five per cent of the world’s entire stock market. It makes sense to diversify your portfolio and invest in global markets. Consider different asset classes too to limit risk. (Source: News Canada)
