A Money Coach in Canada

Follow & Subscribe

This year, the adverts for RRSPs have sounded a bit hollow. It’s hard to convince *anyone* that your firm is the one firm that’s got it together and will handle your money prudently.

Nevertheless, I’m excited. For the first time in a few years, I’m going to be able to really sock away some dough (last few years I’ve added, but only just. Most of my money went into my business). There are buying opportunities all over the place and by the time I retire, I anticipate my purchases over the coming months will have rebounded several times over. Either that, or we’re all going down together.

I haven’t started my serious investigations (read the financials on these, or scoured for news etc) but here are a few companies I’m planning to check out:

Denny’ as in “Grand Slam”. They had a free Grand Slam breakfast to anyone who wanted it a few weeks ago, and it struck me as ingenious: At precisely the time people are thinking Frugal, they come out strong reminding everyone that they can still afford Denny’s. I’m thinking their revenues will increase significantly if the mood remains sombre and people choose frugal options, including where they eat.

Northern Property Real Estate I have owned some units (“units” not “shares” because it’s an Income Trust, not a typical corporation) here for a while, and think it may be worth buying some more. The north continues to have an exceptionally low vacancy rate, plus, diamond-mine slowdown notwithstanding, it looks to me like the economy is going to carry on strong up in the north.

Some kind of front-loading (laundry) washer – makers. I suppose they are all owned by a company that makes many products, but I’m going to suss this out. Why? Because that’s the direction we’re all heading, they’re eco-friendlier, and by all accounts people love them.

So those are going to be some starting places for me to start investigating.
NOTE: NOTE WELL: NOTE BENE: NB: These are not, repeat not, recommendations. I’m simply pointing out what I plan to investigate. Please do your own research or meet with a qualified financial planner (I’m not one. See my header).

READERS: Do you have any companies you are investigating? Care to share your plans for your RRSPs?

About the Author


Imagine if Canadians were known for being all over their money. Engaged. Proactive. Getting out of debt. Savvy. Saving. Generous. Nancy wants to help. Nancy started her own journey with money over 15 years ago, and formed her company “Your Money by Design” in 2004 to help others along the same path. It’s not the usual financial advising/investment stuff. It’s about taking control of day-to-day finances –managing monthly cashflow effectively, spending appropriately, getting out of debt, saving. If you're ready to take control over your finances, pop by her business site, YourMoneybyDesign.com

6 Comments

  1. I’m not buying any RRSPs this year, but I like your reasoning. It’s hard to figure out which companies will do well in a recession, yet there must be quite a few opportunities for the long term out there, like the Yellow Pages or the banks, places that aren’t likely to go away.

    Shireen’s last blog post..Coyotes Head to Beaches and a Fight with City Hall

    [Reply]

    Feb 25, 2009
  2. I am learning about the Couch Potato Strategy and investing in index funds. This is primarily for my son’s RESP, but also I think in the future my RRSP strategy will be similar.

    I like reading about your adventures up north, glad you and the dogs made it there safe and sound.

    Wooly Woman’s last blog post..Arrives the first tooth!

    [Reply]

    Feb 26, 2009
  3. I’m with Wooly Woman! I too do the MoneySense Couch Potato with index funds. I also do GICs for the cash portion of my RRSP. 🙂

    Squawkfox’s last blog post..6 Words That Make Your Resume Suck

    [Reply]

    Feb 27, 2009
  4. I am also with Squawkfox and Wooly Woman. As I don’t have an account with TD, I just opened a TFSA account. After that, I can open an e-Series account and then, start buying.

    How to Live in Canada’s last blog post..Best of How to live in Canada in Feb 2009

    [Reply]

    Mar 03, 2009
  5. brad

    I’ve been in index funds for many years, as far as I’m concerned it’s the only way to go for a long-term investment. I’m still at least 15 years away from retirement so I have most of my RRSP in equities, just a small portion in bonds and GICs. The fact that their value has dropped in the past year doesn’t bother me, because with 15 years between now and retirement there’s a lot of time for them to recover. What matters now is how many shares I own, not what they’re worth. And right now, with index funds at bargain prices, I’m buying more shares for the same amount of money. It’s a gamble, but any long-term investment is a gamble. If I put all my money in bonds and GICs, that would be risky because inflation is likely to pick up once the economy starts recovering, and in 15 years my investments would probably be worth less than they are today.

    [Reply]

    Mar 04, 2009

Trackbacks/Pingbacks

  1. Canadian Personal Finance Blog » Blog Archive » Random Thoughts

Leave a Reply




CommentLuv badge