Click here to close now.

Welcome!

Web 2.0 Authors: Yeshim Deniz, Carmen Gonzalez, Alena Prokharchyk, Elizabeth White, Ian Khan

News Feed Item

REPEAT-BMO: Investing Strategies Should Vary With Age and Stage

- As the RRSP contribution deadline approaches, Canadians of all ages should review their portfolios to ensure they align with their retirement goals

TORONTO, ONTARIO -- (Marketwire) -- 01/26/13 -- As the March 1st deadline approaches to contribute to a Registered Retirement Savings Plan (RRSP), BMO reminds Canadians to take their age, anticipated life goals and milestones into consideration when developing their investment strategies.

According to a study by BMO Financial Group:


--  Sixty per cent of Canadian investors have time frames or target dates in
    mind to reach their financial goals. 
--  Eighty-nine per cent agree that it is important to hold investments that
    evolve over time to become less risky as key life events approach. 
--  However, only 49 per cent currently hold investments that become less
    risky over time.

"Whether retirement is many years away, just around the corner or already here, there are strategies investors can implement now to make the most of their money," said Steven Shepherd, Vice President, Investment Strategist, BMO Asset Management Inc. "By making wise choices and reviewing their financial plan regularly, investors of all ages and stages can ensure they are on track to reaching their retirement goals."

BMO offers the following investing strategies for each life stage:

In Your 20s - Getting That First Job:


--  Though you may be just starting off your career and cannot even imagine
    retirement, it is not too early to think about establishing a long-term
    financial plan. 
--  With years to your advantage, consider taking a more aggressive approach
    to your asset mix by diversifying with a higher mix of equities compared
    to fixed income instruments or cash. 
--  Pay down debt and try to save as much money as possible.

In Your 30s and 40s - Family and Big Purchases:


--  You may be getting married, raising a family, saving for a child's
    education and making large purchases such as a house, car or cottage. 
--  Build a relatively balanced portfolio across all asset classes. Include
    a Registered Education Savings Plan (RESP) to help save for your child's
    post-secondary education. 
--  Set up a Continuous Savings Plan that automatically puts money into your
    RRSP. Investing smaller amounts regularly is easier than coming up with
    a lump sum at the end of the year, and it allows you to take advantage
    of dollar cost averaging for any investments that fluctuate with the
    market. 
--  Some employers will match your RRSP contributions up to a maximum, so be
    sure to contribute enough to take full advantage.

In Your 50s and 60s - Serious Business:


--  Retirement is on the horizon - start strengthening your retirement
    savings by shifting investments from a long-term to a mid-term focus and
    taking a low-risk approach. 
--  Consider a conservative asset mix with a good portion of fixed income
    instruments such as GICs.  
--  Create a snapshot of how much you own to help you understand how your
    assets could help fund your future. For instance, an RRSP can be a
    source of income during retirement while other accounts can pay for a
    child's education or a major purchase. 
--  Pay off outstanding debts.

In Your 60s and Older - Looking at Retirement Head-On:


--  Adjust your financial plan to achieve your ideal retirement lifestyle,
    whether that includes taking early retirement or an extended trip, or
    launching a second career. 
--  Consider income-generating investments coupled with a conservative asset
    mix. 
--  Maximize your RRSP contributions and consider an RRSP loan for making
    catch-up contributions, as you will only be able to contribute to your
    RRSP until the year you turn 71. 
--  Review and update the beneficiary designations for RRSPs, Registered
    Retirement Income Funds (RRIFs), TFSAs and insurance policies.

To assist Canadians in choosing investments that match their current age, life stage and risk tolerance, BMO SelectClass® Portfolios(i) come in four portfolios options designed to align with different client risk profiles. Whether an investor is conservative, bold or somewhere in between, or they are approaching key life events and want a portfolio that matches their risk level, there is a portfolio tailored to that investor. Additionally, investors can transfer money between SelectClass Portfolios in a tax efficient manner. This type of portfolio design can give investors confidence that they can be financially prepared for retirement.

For more information on saving for retirement, please visit www.bmo.com/retirement.

Get the latest BMO press releases via Twitter by following @BMOmedia.

Risk is generally the uncertainty of a return and the potential capital loss in your investment.

The following are general comments and do not constitute financial advice by BMO Financial Group. Investors should always seek advice from a qualified financial advisor prior to investing.

(i)BMO SelectClass Portfolios are offered by BMO Investments Inc., a financial services firm and separate legal entity from Bank of Montreal.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus of the mutual fund before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

Contacts:
Media contacts:
Amanda Robinson, Toronto
416-867-3996
[email protected]

Valerie Doucet, Montreal
514-877-8224
[email protected]

Laurie Grant, Vancouver
604-665-7596
[email protected]

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories
Chuck Piluso will present a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. Speaker Bio: Prior to Data Storage Corporation (DSC), Mr. Piluso founded North American Telecommunication Corporation, a facilities-based Competitive Local Exchange Carrier licensed by the Public Service Commission in 10 states, serving as the company's chairman and president from 1997 to 2000. Between 1990 and 1997, Mr. Piluso served as chairman & founder of International Telecommunications Corporation, a facilities-based international carrier licensed by t...
There are lots of challenges in IoT around secure, scalable and business friendly infrastructure for enterprises. For large corporations, IoT implementations are one of the top priorities of the decade. All industries are seeing a competitive need to sustain by investing in IoT initiatives. The value addition comes from improved customer service, innovative product and additional revenue streams. The data from these IP-connected devices can be leveraged for a variety of business applications as well as responsive action controls. The various architectural building blocks of an IoT ...
“In the past year we've seen a lot of stabilization of WebRTC. You can now use it in production with a far greater degree of certainty. A lot of the real developments in the past year have been in things like the data channel, which will enable a whole new type of application," explained Peter Dunkley, Technical Director at Acision, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
WebRTC is an up-and-coming standard that enables real-time voice and video to be directly embedded into browsers making the browser a primary user interface for communications and collaboration. WebRTC runs in a number of browsers today and is currently supported in over a billion installed browsers globally, across a range of platform OS and devices. Today, organizations that choose to deploy WebRTC applications and use a host machine that supports audio through USB or Bluetooth can use Plantronics products to connect and transit or receive the audio associated with the WebRTC session.
The best mobile applications are augmented by dedicated servers, the Internet and Cloud services. Mobile developers should focus on one thing: writing the next socially disruptive viral app. Thanks to the cloud, they can focus on the overall solution, not the underlying plumbing. From iOS to Android and Windows, developers can leverage cloud services to create a common cross-platform backend to persist user settings, app data, broadcast notifications, run jobs, etc. This session provides a high level technical overview of many cloud services available to mobile app developers, includi...
SYS-CON Media announced today that @WebRTCSummit Blog, the largest WebRTC resource in the world, has been launched. @WebRTCSummit Blog offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. @WebRTCSummit Blog can be bookmarked ▸ Here @WebRTCSummit conference site can be bookmarked ▸ Here
SYS-CON Events announced today that Ciqada will exhibit at SYS-CON's @ThingsExpo, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Ciqada™ makes it easy to connect your products to the Internet. By integrating key components - hardware, servers, dashboards, and mobile apps - into an easy-to-use, configurable system, your products can quickly and securely join the internet of things. With remote monitoring, control, and alert messaging capability, you will meet your customers' needs of tomorrow - today! Ciqada. Let your products take flight. For more inform...
Health care systems across the globe are under enormous strain, as facilities reach capacity and costs continue to rise. M2M and the Internet of Things have the potential to transform the industry through connected health solutions that can make care more efficient while reducing costs. In fact, Vodafone's annual M2M Barometer Report forecasts M2M applications rising to 57 percent in health care and life sciences by 2016. Lively is one of Vodafone's health care partners, whose solutions enable older adults to live independent lives while staying connected to loved ones. M2M will continue to gr...
Dave will share his insights on how Internet of Things for Enterprises are transforming and making more productive and efficient operations and maintenance (O&M) procedures in the cleantech industry and beyond. Speaker Bio: Dave Landa is chief operating officer of Cybozu Corp (kintone US). Based in the San Francisco Bay Area, Dave has been on the forefront of the Cloud revolution driving strategic business development on the executive teams of multiple leading Software as a Services (SaaS) application providers dating back to 2004. Cybozu's kintone.com is a leading global BYOA (Build Your O...
As enterprises move to all-IP networks and cloud-based applications, communications service providers (CSPs) – facing increased competition from over-the-top providers delivering content via the Internet and independently of CSPs – must be able to offer seamless cloud-based communication and collaboration solutions that can scale for small, midsize, and large enterprises, as well as public sector organizations, in order to keep and grow market share. The latest version of Oracle Communications Unified Communications Suite gives CSPs the capability to do just that. In addition, its integration ...
The IoT Bootcamp is coming to Cloud Expo | @ThingsExpo on June 9-10 at the Javits Center in New York. Instructor. Registration is now available at http://iotbootcamp.sys-con.com/ Instructor Janakiram MSV previously taught the famously successful Multi-Cloud Bootcamp at Cloud Expo | @ThingsExpo in November in Santa Clara. Now he is expanding the focus to Janakiram is the founder and CTO of Get Cloud Ready Consulting, a niche Cloud Migration and Cloud Operations firm that recently got acquired by Aditi Technologies. He is a Microsoft Regional Director for Hyderabad, India, and one of the f...
The 17th International Cloud Expo has announced that its Call for Papers is open. 17th International Cloud Expo, to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, APM, APIs, Microservices, Security, Big Data, Internet of Things, DevOps and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal today!
While not quite mainstream yet, WebRTC is starting to gain ground with Carriers, Enterprises and Independent Software Vendors (ISV’s) alike. WebRTC makes it easy for developers to add audio and video communications into their applications by using Web browsers as their platform. But like any market, every customer engagement has unique requirements, as well as constraints. And of course, one size does not fit all. In her session at WebRTC Summit, Dr. Natasha Tamaskar, Vice President, Head of Cloud and Mobile Strategy at GENBAND, will explore what is needed to take a real time communications ...
SYS-CON Events announced today that Litmus Automation will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Litmus Automation’s vision is to provide a solution for companies that are in a rush to embrace the disruptive Internet of Things technology and leverage it for real business challenges. Litmus Automation simplifies the complexity of connected devices applications with Loop, a secure and scalable cloud platform.
In 2015, 4.9 billion connected "things" will be in use. By 2020, Gartner forecasts this amount to be 25 billion, a 410 percent increase in just five years. How will businesses handle this rapid growth of data? Hadoop will continue to improve its technology to meet business demands, by enabling businesses to access/analyze data in real time, when and where they need it. Cloudera's Chief Technologist, Eli Collins, will discuss how Big Data is keeping up with today's data demands and how in the future, data and analytics will be pervasive, embedded into every workflow, application and infra...
From telemedicine to smart cars, digital homes and industrial monitoring, the explosive growth of IoT has created exciting new business opportunities for real time calls and messaging. In his session at @ThingsExpo, Ivelin Ivanov, CEO and Co-Founder of Telestax, shared some of the new revenue sources that IoT created for Restcomm – the open source telephony platform from Telestax. Ivelin Ivanov is a technology entrepreneur who founded Mobicents, an Open Source VoIP Platform, to help create, deploy, and manage applications integrating voice, video and data. He is the co-founder of TeleStax, a...
As Marc Andreessen says software is eating the world. Everything is rapidly moving toward being software-defined – from our phones and cars through our washing machines to the datacenter. However, there are larger challenges when implementing software defined on a larger scale - when building software defined infrastructure. In his session at 16th Cloud Expo, Boyan Ivanov, CEO of StorPool, will provide some practical insights on what, how and why when implementing "software-defined" in the datacenter.
How is unified communications transforming the way businesses operate? In his session at WebRTC Summit, Arvind Rangarajan, Director of Product Marketing at BroadSoft, will discuss how to extend unified communications experience outside the enterprise through WebRTC. He will also review use cases across different industry verticals. Arvind Rangarajan is Director, Product Marketing at BroadSoft. He has over 19 years of experience in the telecommunications industry in various roles such as Software Development, Product Management and Product Marketing, applied across Wireless, Unified Communic...
SYS-CON Events announced today that MangoApps will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY., and the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. MangoApps provides private all-in-one social intranets allowing workers to securely collaborate from anywhere in the world and from any device. Social, mobile, and easy to use. MangoApps has been named a "Market Leader" by Ovum Research and a "Cool Vendor" by Gartner...
SYS-CON Media announced today that @ThingsExpo Blog launched with 7,788 original stories. @ThingsExpo Blog offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. @ThingsExpo Blog can be bookmarked. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago.