Could your RRSP use a friendly kick in the pants?

The past couple of years have been tough on many RRSP portfolios. If yours isn't getting the attention it deserves, consider giving it a friendly "kick in the pants".

KICK #1: BOOT IT OUT OF THE BANK
If the big banks are not working hard enough for your business, try a specialist who operates a smaller practice. Working with me, your RRSP will still be held at a trusted Canadian financial institution, however it won't be competing with thousands of other accounts for attention.

KICK #2: DEVELOP A PLAN AND FOLLOW IT
Instead of being a feather in the wind, your RRSP should follow a plan - a roadmap - that leads to your financial goals. I can help you create a Sixty-Minute Plan, and together we will monitor progress and make adjustments at our annual reviews.

KICK #3: PUT AN END TO "DIWORSIFICATION", AND GET BACK TO BASICS
Many Canadians own complicated portfolios with too many similar mutual funds. Consider a simpler portfolio, with more thoughtfully-chosen investments that complement each other. Quality over quantity.

KICK #4: KNOW WHEN TO HOLD 'EM AND WHEN TO FOLD 'EM
You would notice very quickly if your mailman stopped doing his job, because there would be no mail. But how would you know if your mutual fund managers had stopped doing their job correctly? Would you know when to be patient versus when to take action? Hire a specialist who understands how fund companies operate, and is on the lookout for potentially troublesome changes.

Email don@doneberley.ca if you feel that your RRSP could use a kick in the pants. Tell me about your situation, and I will give you a detailed proposal. I welcome your business!