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Saving for long-term goals Add to ...

Here are a few options to consider for long-term goals like saving for retirement or your children’s education.

Your time horizon is a key factor in choosing investments. For example, if you’re investing for the short term, you may want to choose investments that guarantee your return, so your money is there when you need it. If you’re investing for the long term, you may choose to take more risk with your investments in order to grow your money faster. But with higher-risk investments, there’s a greater chance you could lose some or all of your money. The key is knowing what kind of investor you are and creating an investment plan that is appropriate for you.

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Investment options for long-term savings

Investments like mutual funds, bonds and stocks may have a higher return over the long term. But like all investments, they come with risks and most have fees that you should consider before you invest. Learn more about choosing investments that are right for you.

Consider professional advice to help you plan for your long-term goals and make investment decisions that are right for you.

Tax-sheltered plans can help you save more

Plans like RRSPs, TFSAs and RESPs offer certain tax advantages that can help your money grow faster.


 

Content in this section is provided in partnership with Investor Education Fund, a non-profit organization founded and supported by the Ontario Securities Commission that provides unbiased and independent financial tools to help Canadians make better money decisions. To find out more, go to: GetSmarterAboutMoney.ca

 

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