Scrounging from 08/2023 to present. Monday i’d like to adopt an actual RRSP strategy.
Do I sell all to realize the gains and reinvest better or just invest all future amounts differently (more strategically?). Something else I should do?
I’ve considered laddered GICs because I like the structure but I’m not educated in these things and there’s something exciting (read: gambling) about choosing stocks and doing well that I feel hesitant to give up. I plan on keeping my “speculative-gamble-won’t die if I lose it” money limited to an account that’s not my RRSP.
My situation: 35, earning 75k pensionable and currently schooling towards more, renting outside Vancouver.
Due to expenses that I am working to reduce, I’m only saving about $50 in my rrsp and $50 in my tfsa each biweekly. More when I’ve got more from overtime or a side gig.
I feel behind the game and that my strategy so far with my RRSP is emotional and could be more set and forget. I’d like to make a plan for the next year or more on how to distribute this money.
Thank you for the guidance, and I appreciate your time