Should retirees speculate? + MORE Nov 16th

How to go about securing the best Retirement Plan in Canada.

Should retirees speculate?

– moneysense.ca

All investors need to know the difference between investing and speculation—often summed up as what you do with “serious money” versus “fun money”—and that’s doubly true for those at or near retirement. While investing is about building wealth you can count on, speculating typically means risking money you can afford to lose, which may be in short supply for retirees on a fixed income.
No one wants to lose money, of course, but that risk is the inevitable trade-off for those in pursuit of higher returns. Take, for example, the trades happening over at the Robinhood platform where young millennials congregate. Post-COVID, many have turned to what might strike retirees as unabashed speculations—depressed airline, hotel and cruise line stocks—betting they’ll soar once a vaccine is available. (Some of these stocks did, indeed, rebound following Joe Biden’s U.S. presidential win and good news about a possible vaccine from Pfizer.) The operative word with this cohort seems to be FOMO: Fear Of Missing Out…

Continue Reading On moneysense.ca »

He flipped a property in London, Ont. and profited. Now at 27, he wants to buy a house in the GTA but his girlfriend wants to stay in the city. What next?With no debt, his goal now is to buy a home and put the rest of his savings into stocks for retirement. But with his girlfriend’s work in Toronto, where should he buy and what can he achieve?

Continue Reading On thestar.com »

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