SOURCE: Scotiabank

Scotiabank

January 21, 2016 14:37 ET

The 1, 2, 3s of Investing This Season

Scotiabank Offers Top 3 Tips for Canadians During 2016 Investment Season

TORONTO, ON--(Marketwired - January 21, 2016) - As Canadians from coast to coast turn their minds to the annual investment season, Scotiabank offers three tips to those looking to invest for the future this year.

"The RRSP is the most popular way that Canadians talk about saving for their future, but an RRSP is just one part of an overall financial plan," said Ahmad Dajani, Vice President, Retail Deposits and Investments at Scotiabank. "Saving for your future is a highly personal process that should take into account how much you can comfortably afford, how close you are to reaching your goal, the types of investments best suited for you, and more. There is no one-size-fits-all solution. We encourage Canadians to meet with a financial advisor to map out their own unique plan for saving for the future."

There are many investment options available to Canadians -- Mutual Funds, GICs, High Interest Savings Accounts -- which can be invested in an RRSP or a Tax Free Savings Account (TFSA). The most important thing is to create a plan that is tailored for your goals whether short, medium or long term.

Three tips for Investment Season:

  1. Work with an advisor1 to prioritize your financial goals and build a plan that works for you and your budget.
  2. Explore ways that an RRSP and TFSA can complement each other as part of your overall retirement plan and decide what is right for you. 
  3. Invest early and invest often. Skip the last minute RRSP scramble. Just choose the amount you want to save and how often you want to save it. You'll save money on a regular basis without even thinking about it, and it will help maximize your savings.

"Every client I meet has unique short- and long-term goals for their investments," said Darren Farwell, Senior Wealth Advisor at Scotia Wealth Management. "Whether making an investment in an existing RRSP or building a brand new savings plan for the future, our team provides thoughtful analysis that considers market conditions, risk appetite and where clients are in their life stage to create a long-term financial plan that meets their personal goals."

For more information about Scotiabank's investment options, visit a local Scotiabank branch to speak with an advisor2 or visit www.scotiabank.com/investing.

About Scotiabank:

Scotiabank is Canada's international bank and a leading financial services provider in North America, Latin America, the Caribbean and Central America, and parts of Asia. We are dedicated to helping our 23 million customers become better off through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of approximately 90,000 employees and assets of $856 billion (as at October 31, 2015), Scotiabank trades on the Toronto (TSX: BNS) and New York Exchanges (NYSE: BNS). Scotiabank distributes the Bank's media releases using Marketwired. For more information, please visit www.scotiabank.com and follow us on Twitter @ScotiabankNews.

1 In Quebec: your Scotiabank Investment and Personal Banking Specialist or your Scotia Securities Inc. Mutual Fund Representative.

2 Ibid.

Contact Information

  • For media enquiries only:
    Allison Watkin
    Public, Corporate and Government Affairs
    Scotiabank
    T: 416.866.5657
    M: 416.254.9559
    E: allison.watkin@scotiabank.com

    Amrita Labana
    Consultant, Narrative Public Relations
    T: 416.644.4141 ex. 4118
    M: 416.568.2286
    E: amrita.labana@narrative.ca