The RRSP deadline for 2021 deposits is fast approaching on March 1st. Some of the basics of the benefits of RRSPs are worth repeating, especially for Millennials and other younger, or beginner investors.

The goal of building investment assets is to someday (retire) be able to sustain your desired lifestyle without having to work to earn an income. This is often referred to as passive income where the assets generate the monthly income needed to maintain your standard of living.

A year ago, Faye and David decided to get smart around saving money. "We both love the idea of retirement," says Faye. "But we could never seem to close the gap between what we earn and what it costs to run our life to increase our savings." As the couple approached their fifties, they decided to find innovative ways to save. "One of the ways we could do that was to spend less on the things we needed," says David. "We love a challenge, so we decided that we wouldn't make any major purchases for a year without comparison shopping or a money-saving coupon."

Time is one of those daily realities that we usually take for granted. But when it comes to building wealth and managing investments, it is tremendously important. How you view, manage, and interact with "time" could deeply impact your financial success more than any other variable that you personally control.

"At this point last January, I was determined to change my relationship with money forever," says Daniel. This is a New Year's resolution he shared with 69% of Canadians last year¹. However, unlike most others, Daniel has been able to stick with his promise to get control of his financial life. "I'd say 100% of my success comes down to working with a financial advisor who offered me a powerful way to get started and keep going."

Many investors are very focused on annual returns and others worry about losing money if the economy goes into a recession. The reality is that how to approach or react to different scenarios really depends on what type of investor you are. In other words, context and your financial plan are everything!

According to the Financial Consumer Agency of Canada¹, good health is determined by mental, physical, and financial wellness. In other words: mind, body, and money. Physical and mental health makes sense, but what is financial wellness?

Financial wellness doesn’t necessarily mean you have millions of dollars invested, although you’ve achieved an admirable goal if you do. While it’s not about the balance in your savings account, financial wellness means you’re feeling good about the relationship you have with money, including:

Whether you're expecting a child, planning to have one soon or have just become a new parent, you're about to embark on one of the most rewarding journeys that life has to offer. It's also one of the most expensive: an average of $12,500 per year until age 18.¹. That's $225,000 per child, and it doesn't include the cost of post-secondary education. Planning for this is one way to be the best parent you can be.

There are moments in time when significant economic shifts occur that alter the future. One such moment occurred in late August 2019 at the close of the Jackson Hole Economic Symposium. This is an annual and exclusive central banking conference to foster open discussion about important and current policy matters.

Just as each of us is unique as a person, we also have a distinct investing personality. One isn't better or worse than the other, but understanding "who” you are as an investor is helpful, no matter your circumstances, or how much money you have to invest. While it's a complex matter that depends on various factors, exploring the questions below may give you some preliminary insight into your investing personality.

It is increasingly difficult to ignore some of the trading action in the markets that is causing surprising moves in equity values while the underlying economy continues to struggle (refer to U.S. unemployment data, for example). This type of divergence has occurred in the past and at some point, the values reflected in the stock, bond and real estate markets are expected to closely reflect the underlying economy eventually.