YOUR INVESTMENTS

So now that we are not working we have had the time to research the best investments to have throughout our retirement. We have been with the same investment company for the past 18 years. Paying money each month towards our RRSP and recently for our TFSA’s. Something we were not aware of is that not only do they charge you a 2.5 percent per month on your investments but also when your money each month is invested in Mutual Funds it is locked up for 7 years from that date. Not really a problem as monies invested a long time ago are ok or free and clear of fees but any recent amounts are not and one has to pay a hefty fee to remove them. If you were unhappy that is with the situation and wanted to move to another financial institution that doesn’t tie your money up for 7 years and if you shop around you could get less than 2.5 percent.
The bottom line is do your homework, ask lots of questions so that you can make an informed decision.