Seniors

As Nova Scotia’s population gets older a large portion of the province is getting closer to retirement. Many are already investing or are thinking about investing to get them there. Whether you’re new to investing or have been investing for years, this page can offer you helpful information to make sure you are an informed investor. An informed investor is a safe investor, avoiding scams, fraud and financial elder abuse. Take the time to learn about investment fraud, financial elder abuse, investment fees, registration, risk and more, to protect yourself, and your money.

 

   

  

 

  

Part One: Are you or a loved one vulnerable to financial elder abuse?

Part Two: What are the warning signs of financial elder abuse?

Part Three: Start the Conversation. Talking about financial elder abuse.

Many people invest in RRSPs or TFSAs for their retirement, or to reach other financial goals. But how many of them know what they are and how they work? Did you know that if you have an RRSP eventually you’re going to need an RRIF or an annuity to receive your money as income?

If you are an investor then you are paying fees. It may be to an adviser or to the company offering the investment product you are buying. It could be commissions for the purchase or sale of an investment. Do you know how much you paid in fees last year? Do you know what fees you pay at all? Take the time to learn about the types of fees that exist and how to find out if you are paying them.

Did you know that anyone selling or advising on securities in the province of Nova Scotia must be registered with the Nova Scotia Securities Commission? An adviser’s category of registration also determines what investments he or she can offer you. Learn about the different categories and what they mean, and make sure you always check the registration of any adviser you are dealing with.

All Investments have risk. But the type of risk you are facing can differ depending on what you are investing in. Take the time to learn about risk tolerance and how it affects what investments are suitable for you and learn about how different investments are affected by different types of risk.

We know investing can be confusing for a lot of people. What’s the difference between a mutual fund and an ETF? What is diversification and why is it important? How does time horizon effect a senior when investing? Learning some basic investment terms can help make navigating the sometimes complicated world of investing a little easier.

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Investing Information for Seniors