The Eclectic Me

Blogs on many subjects to help you!

Don't see what you want to read about, let me know what you want to see. Have computer - will write.



Published by on

Why invest now? Markets are doing terrible – are you kidding!


Well that is actually one of the reasons to invest now. If you invest in down markets the potential to make a great return is far higher than when you invest when the market is up.


So, here are the top reasons to invest now

  1. It is RRSP season and markets are down
  2. Interest rates are really low if you need an RRSP loan
  3. You can get a nice tax return
  4. Feb 29th is the deadline, NOT Mar 1
  5. Now is always a good time to invest

Let’s have a closer look at the reasons


First it is RRSP season and markets are down. Did you know that most years markets are up for RRSP season, so you rarely get a good deal. This year is different, you get to buy on sale and you know it is always better to buy on sale. Just make sure you still buy quality.


Next, interest rates are low if you need a loan.


An RRSP contribution would get you a nice tax return. You can click here to go to my calculator page then click on a simple tax calculator to find what your return might be. Or if you are self-employed you can use the simple tax calculator to see how much taxes your RRSP contribution will save you. What can you do with your tax return; well there are lots of options. Pay down credit card debt click here to read how you can use your RRSP loan to eliminate or reduce that debt. Pay down your mortgage or pay down the RRSP loan. What you need to do is look at where you are paying the highest interest rate and pay off if possible. At this point it can become a little complicated so ask your advisor for recommendations.


Now, deadline is Feb 29th not Mar 1st like most years so don’t miss out.


Lastly, now is always a good time to invest. Sometimes things that are put off get put off indefinitely and then all the sudden retirement is here. If you get full CPP and OAS, your annual income will be in today’s dollars $19,956 give or take. I don’t know about you but I sure would not want to live on less than 20,000 per year. If you are a couple it is easier of course you would get 39,912 give or take. You might not be eating cat food as the old saying goes, but you won’t have a lot of extra either. However, very few people get full CPP and it means you have to work until you are 65.


There is soooo much more that I could say, so please click here for my contact information if you are interested in finding out more – remember don’t delay you might be too late!


Photo from Pixabay