Planning for retirement is more important than ever. Yet, many Quebecers simply aren’t planning well enough to secure the income they need to sustain their lifestyle and make for a comfortable retirement.
To fully enjoy your retirement, it’s important to plan it as early as possible with the right strategy that aligns with your priorities, future projects and current savings capacity.
Want to save more to reach your savings goals? Whether you’re looking to retire, build an emergency fund, buying a home or completing a project, here are a few tips to help you get there faster.
To make your decision easier, use one of your savings goals as a starting point.
If you’re looking to save for retirement, buying a home, renovations or to build an emergency fund, it might be better to opt for an RRSP. But if you want to save for a trip or home renovations, a TFSA may be your best bet.
Since every situation is unique, meet with a Laurentian Bank advisor to discuss RRSPs and TFSAs and figure out the best solution for you.
At Laurentian Bank, we have several solutions to help you save better. Depending on your savings goals, life priorities and investor profile, our advisors will help you establish a personalized investment strategy adapted to your situation and aspirations. They will then recommend the registered plans, investment products and financing options that are best for you.
Discover our solutions.
Guaranteed Investment Certificates3 (GICs) are investments that offer a guaranteed rate of return over a fixed and pre-determined period of time.
ActionGICs4 allow you to take advantage of market performance and greater growth potential than a conventional GIC, while guaranteeing 100% return of capital.
A mutual fund2 is an investment group (made up of stocks, bonds or other securities) that is managed by a professional portfolio manager. When you invest in a mutual fund, you pool your money with other investors. Your capital is not guaranteed, but there may be a higher return potential depending on market fluctuations.
Did you know that you could invest responsibly with the Mackenzie Global Women’s Leadership Fund, the Mackenzie Global Environmental Equity Fund and the Mackenzie Global Sustainability and Impact Balanced Fund in the Laurentian Bank mutual funds range?
An ESG fund is an ethical fund based on an in-depth analysis of the companies it’s composed of, including their risk management and their societal and environmental impacts. ESG refers to environmental, social and corporate governance factors. Although they have existed for more than a decade, the public’s interest in this type of fund is growing as it encourages responsible investment, unlike other, more traditional mutual funds whose main selection criteria is profitability.
The ESG fund brings together companies that work in, among other things, green and renewable energies, or that encourage healthy working conditions and/or the presence of women on boards of directors. These criteria help minimize risk and can, therefore, generate stronger returns compared to portfolios that fail to take these criteria into account.
The PSIP is a saving solution that helps you adopt good saving habits, allowing you to put money aside on a regular basis without having to think about it. Together with an advisor, you can determine the amount you want to save and then establish the frequency of your payments (weekly, monthly, etc.).
Laurentian Bank PSIP direct debits allow you to save year-round and at your own pace, helping you reach your savings goals and achieve what’s important to you.
Borrowing funds to invest can be a great option to help you save better.
You can use these funds to contribute to your RRSP or to make up your unused contribution room.
Discover the benefits of using RRSP financing to reach your retirement savings goal faster.
This is the starting point for good financial health.
Here are some tips to help you get there. We suggest you complete this exercise before meeting with an advisor.
Taking stock of your finances is easier than you think.
If you need help updating your budget or calculating your assets and debts, our advisory team is here to help you.
Understanding your financial situation and habits will help you invest better.
Knowing your investor profile will allow you to determine your risk tolerance and find the asset and investment mix that works best for you.
Your investor profile may change over time depending on the factors above. We recommend that you review your investor profile annually or when one or more of these factors are subject to change.
Three reasons why you should diversify your portfolio:
The goal of diversifying is to spread out the risk, choosing different investments to protect your savings against market fluctuations without sacrificing potential returns. If certain investments don’t generate the expected return, other investments can compensate, allowing you to balance out your losses and gains.
The keys to a diversified portfolio:
Existing investment accounts are offered by Laurentian Bank of Canada (“Laurentian Bank”) or LBC Financial Services Inc. (“LBCFS”). Mutual funds are distributed by LBCFS. LBCFS is a wholly-owned subsidiary of Laurentian Bank and a separate legal entity from Laurentian Bank, B2B Trustco and all other issuers or mutual fund companies whose products it distributes. Newly opened investment accounts must be LBCFS accounts. A Laurentian Bank advisor is also a licensed LBCFS mutual fund representative. LBCFS’s liability is limited to the conduct of its representatives in the performance of their duties for LBCFS.
Laurentian Bank of Canada
The content of this website is for information purposes only and must not be interpreted, considered or used as if it were financial, legal, fiscal or other advice. It does not create any legal or contractual obligation for LBCFS, Laurentian Bank or their affiliates. They cannot be held liable for any damages or losses that may arise from any errors or omissions in its content or from any actions or decisions taken in reliance on such content.
Existing investment accounts are offered by Laurentian Bank or LBCFS. LBCFS is a wholly-owned subsidiary of Laurentian Bank and a separate legal entity from Laurentian Bank, B2B Trustco and all other issuers or mutual fund companies whose products it distributes. Newly opened investment accounts must be LBCFS accounts. A Laurentian Bank advisor is also a licensed LBCFS mutual fund representative. LBCFS’s liability is limited to the conduct of its representatives in the performance of their duties for LBCFS.