A mutual fund is a pooled investment that allows a large number of investors to purchase a portion of a fund, which is known as a unit. These assets collected from the investors are then used by a professional money manager to purchase stocks, bonds, and other types of securities. The mutual fund’s investment objective…
Category: Savings & Investments
Active Saving Can Help With Your Financial Well-Being
It’s always a good time to set some financial goals and we can help that happen. The financial Consumer Agency of Canada (FCAC) recently reported that, from a recent survey of financial well-being in Canada, Canadians who practice active saving behaviours have much higher resilience as well as higher levels of financial well-being. Captain Obvious…
TFSA vs RSP: What’s Best For You?
As a new generation of Canadians begins dealing with the tricky field of finances, a common question we hear is “What kind of account should I have?” At Encompass Credit Union, we have a wide array of plans and programs for money-savvy Canadians and the most popular are TFSA and RSP accounts. Here are the…
Why is Contributing to a Registered Retirement Savings Plan Still Important?
While the decision to use a Registered Retirement Savings Plan (RRSP) has been made more complicated over the last ten years by the popularity of the Tax-Free Savings Plan (TFSA), it is still an important savings tool. The TFSA allows an individual to contribute after-tax dollars into an investment and withdraw funds with no tax…
Why Did Stock Markets Decrease Early in October 2018?
Global equity markets experienced volatility not seen since the beginning of February (2018). The most significant losses happened on Wednesday, October 12th with the S&P 500 decreasing 3.3%, the Dow Jones 3.1% and the NASDAQ 4.1%. Canadian markets were also affected with the TSX dropping 2.1% on that same day. There were several reasons that…
What are the Important Factors in Determining Risk Tolerance?
The accuracy of risk tolerance is important at all times when it comes to investing. It is even more important during market volatility. Some investors could lose a lot of sleep at night during market volatility if their investments were higher risk than they expected. When an investor is working with a financial advisor in…
How to Start Saving Money to Plan Your Future
It’s that time of year again! We’re only about a month away from 2019, and many people have started to reflect on how much they have accomplished in the past year. If you’re one of them, you might also be thinking about your goals for the next few years. Are you considering purchasing a home,…
