Your investments might have changed
The investments you selected months or years ago may not look the same anymore. Managed investments, like mutual funds, frequently undergo changes, such as updates to their investment style or portfolio management team. You won’t necessarily be informed about these updates, and an expert second opinion can help you identify any changes that might deserve your attention.
Even if your investments haven’t changed, the economic and market environment certainly has. For example, investments that made sense during the record-low interest rates of a few years ago may not be as attractive today. There might also be new opportunities to consider, such as the introduction of the First Home Savings Account (FHSA). A second opinion can help make sure you’re not missing anything valuable.
You might have changed
When life changes, so does your financial picture. If you’ve been posted or deployed, released, married or divorced, had a child, or experienced any other significant life change, it’s almost surely a good time to update your financial plan and investment strategy. You might have new goals, new risks, and new opportunities to think about.
Even if there haven’t been any major changes, things can change just as a result of moving through the stages of life. For example, earlier in your career, you might focus on maximizing long-term growth. As you get closer to big goals including retirement, you might want to take less risk. And as you transition into retirement, you’ll want to make sure that your personal investment choices will work hand-in-hand with your CAF pension.
You could be missing opportunities
An expert second opinion from a SISIP Financial advisor can uncover opportunities that just aren’t obvious when you have your investments on cruise control. Here are some examples:
- Could you be saving tax? There are many tax-advantaged investment accounts that you could potentially be using, including a Registered Retirement Savings Plan (RRSP), Tax-Free Savings Account (TFSA), Registered Eduction Savings Plan (RESP), Registered Disability Savings Plan (RDSP), and First Home Savings Account (FHSA). An expert second opinion can help make sure you are making the most of each of them.
- Could you be missing out? Life gets busy and sometimes things simply slip through the cracks, whether it’s forgetting to make tax deadlines or failing to put all your available money to work for you. There could also be a chance to update or rebalance your portfolio to help make sure you aren’t overlooking risks or opportunities. An expert second opinion can help close any gaps.
- Could you be planning smarter? Financial planning as a CAF member involves several special considerations, including how and when you get paid, potential income adjustments, and of course the CAF pension. An expert second opinion can help you keep everything running smoothly.
If you’ve never sat down with a SISIP Financial advisor, there’s one more thing you should know: we’re part of the CAF community! In fact, you’ll find us exclusively serving CAF members, veterans and their families on bases and wings across Canada.
When you sit down with us for an expert second opinion on your investments, we’ll run all the numbers, but we’ll never treat you like a number. We care about our people and we’re here to help you and your family build wealth and achieve lasting financial security.
The comments contained herein are a general discussion of certain issues intended as general information only and should not be relied upon as tax or legal advice. Please obtain independent professional advice, in the context of your particular circumstances. This article was written, designed and produced by SISIP Financial, for the benefit of SISIP Financial, Investment Funds Advisor, a registered trade name with Investia Financial Services Inc., and does not necessarily reflect the opinion of Investia Financial Services Inc. The information contained in this article comes from sources we believe reliable, but we cannot guarantee its accuracy or reliability. The opinions expressed are based on an analysis and interpretation dating from the date of publication and are subject to change without notice. Furthermore, they do not constitute an offer or solicitation to buy or sell any securities. Mutual Funds are offered through Investia Financial Services Inc. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently, and past performance may not be repeated.
