Week 4 – TDP Glidepath

If you have looked at your retirement account (or other investments) balance recently, there’s a good chance you didn’t like what you saw. While it doesn’t feel good to see your savings decrease so drastically, this is part of regular market cycles.

Let us offer you a silver lining, there are steps you can take to insulate yourself from major losses and most of them are very easy.

1. Stay the Course

   Right now, you’re suffering losses on paper. Selling and leaving the market would make those losses real. You still own the same number of shares of stock that you did before, they just have a lower value (at this time). You wouldn’t sell your car just because it’s Toyotathon, would you? If anything, you might consider buying a new car at the discounted rate.

2. Retired? Tighten the Budget (If You Can)

   If you’re already at retirement and depend on your retirement savings for income, you might not have the choice to just leave your money in your account. In this case, do your best to minimize withdrawals. Wait until the market recovers to make expensive purchases, cut out flexible costs, but take care of yourself.

3. Check Out These Resources:
   + Market Volatility Brochure – From Empower
   + Market Volatility in Perspective – From Innovest

4. Still Worried? Request a Meeting With Your CRA Client Service Manager

   
   
   
   
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