How can Demographics Help your RRSPs Grow Faster?
Why are you investing your money in RRSPs?
Most people do it to get the tax savings.
But as the money starts to grow they then realize that having money grow for retirement is a good thing. It’s the old saying “Live for today but plan for tomorrow”.
Which is the same thing Bill Gates meant when he said recently “If you were born poor it is not your fault, but if you die poor, it is your fault”.
So the growth of your RRSPs become more and more important as we age because we are all living longer now which requires you to have a lot more saved if you do not want to outlive your income.
So how do you do it? Banks say you should be happy with a 7% return.
Which means it would take your investments over 10 years to double.
In Case you did not see the past few month’s headlines, the CBC broke the news that Banks having been overcharging the public for years and giving bad advice in order to create large profits.
So let’s put the profits in your pocket instead of them.
Demographics shows us how.
We all understand how demographics work.
But I discovered years ago that if you use demographics as a guide to where to invest as the great Warren Buffett did when he purchased Wal-Mart, Disney ,Coco Cola and American Express years ago before the Baby boomers started to use them.
Then our returns will double faster and the more doubles you will have before you retire will help your money last longer in retirement. So let’s see how two investments have both doubled in 5 years, giving us an average return of over 20% for those 5 years.
When I ask my clients do they think that technology will slow down over the next 20 years. They all answer the same way, believing if anything it will speed up.
They are correct because in the 1980’s all the information in the world took 30 years to double. By 1990 it was reduced to 11 years.In 2010 it became 11 hours. Because of the internet.
So Technology is here to stay and if we invested there you will make more money, faster.
Another area of great growth is Health Care Funds.As a Baby boomer, we are all aging and we all want our health to be good.
That’s why this investment is not based on the ups and downs of the economy but the demand by us using health care services and all the innovations coming from Stem Call research and using T-cells which uses your own immune system to fight disease.
Over the last 10 years, we have used these investments to double our money twice which again is an average of 20%.
So stop letting these big banks make big profits on your money.
Contact us and we will guide you to doubling your money faster so that you do not outlive your income at retirement.