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Shares / TFSA ETFs: what to do from 55-65?
« on: March 12, 2019, 04:13:13 pm »
Greetings all,
I'm new to this forum and to investing. Unfortunately I wish I could say that I am new to the workforce. I'd certainly have done a few things differently from a financial literacy and planning point of view. I'm now in my mid fifties and am pretty bleak that TFSAs weren't around when I started my first job. My husband and I have invested in traditional RAs from the start (through a broker - groan when I think of all those 1-2% charges we've paid down the years). We've always been frugal, but with two kids to raise and educate, on a teacher's salary (SGB, so minus many of the perks that government employees get), there is a limit to what we've been able to put away for our retirement. I've done the numbers, using the formulae I've found on this site (thanks Patrick) and suffice it to say that we are probably only a third of the way towards what we need. Our focus now is to do all we can to improve our situation.
So, I've signed up on the Satrix and Easy Equity platforms and am ready to invest in my first TFSA ETF. Given the short timeframe to retirement (8 years), what advice would you give re. selection/blend of ETFs? I'd really appreciate any advice y'all could give me. Thank you!
I'm new to this forum and to investing. Unfortunately I wish I could say that I am new to the workforce. I'd certainly have done a few things differently from a financial literacy and planning point of view. I'm now in my mid fifties and am pretty bleak that TFSAs weren't around when I started my first job. My husband and I have invested in traditional RAs from the start (through a broker - groan when I think of all those 1-2% charges we've paid down the years). We've always been frugal, but with two kids to raise and educate, on a teacher's salary (SGB, so minus many of the perks that government employees get), there is a limit to what we've been able to put away for our retirement. I've done the numbers, using the formulae I've found on this site (thanks Patrick) and suffice it to say that we are probably only a third of the way towards what we need. Our focus now is to do all we can to improve our situation.
So, I've signed up on the Satrix and Easy Equity platforms and am ready to invest in my first TFSA ETF. Given the short timeframe to retirement (8 years), what advice would you give re. selection/blend of ETFs? I'd really appreciate any advice y'all could give me. Thank you!