You’re probably hearing a lot about RSP season and may feel you are in no position to save money now, let alone for retirement. However, there are immediate advantages to opening an RSP or TFSA now without having to invest a lot of your money upfront. Plus, you can choose from investment strategies such as the ones below, which take into account your financial objectives and risk tolerance.
In the end, there’s no right or wrong method of investing – and you don’t have to have an RSP or TFSA to begin now. Investing all comes down to understanding your risk tolerance and getting started.
Dollar Cost Averaging, Value Dollar Cost Averaging or Lump Sum: What investing strategy is right for you?