By: Anna Piekarski | The Toronto Star | January 24, 2008
Read More, and see what Scott Plaskett says about rushing in your RRSP contribution.
Buying the newest tech gadget or most popular pair of shoes is fine – but stay away from fads when making your RRSP investments.
“Inexperienced people (often) buy the new flavour-of-the-month type investment,” says Marilyn Trentos, an investment advisor for RBC Dominion Securities.
With the March 1 deadline for making an RRSP contribution quickly approaching, investors may be tempted to rush decisions and buy what is popular and well publicized – instead of making lasting investments.
Last year oil-related investments were a popular choice as the price of crude climbed. This RRSP season, with gold recently reaching an all-time high, Trentos said many last-minute RRSP buyers will try to add the shiny stuff to their portfolio…
