Do-it-yourself RSPs on the Rise as More Canadians Save for Retirement Online
More and more Canadians are turning to do-it-yourself (DIY) investing as an effective way to build their retirement nest egg. According to Investor Economics, as of September 2007, RSPs made up almost one-third ($56 billion) of the $180 billion investments made online. That percentage is even higher and growing at BMO InvestorLine where registered investments now make up more than 40 per cent of total assets.
Many more mainstream, long-term investors are choosing to take control of their investments by investing online. DIY investing is no longer considered the exclusive domain of sophisticated investors or day traders.
There is an abundance of information and resources available online today to empower a wide range of investors to make their own investment decisions. For example, BMO InvestorLine offers a comprehensive package of planning, investment selection and management tools to guide investors towards a more disciplined, long-term investing approach. To help them make more informed investment decisions, BMO InvestorLine’s MyLink service sends personalized messages directly to individual investors with timely and relevant information, specific to their holdings.
BMO InvestorLine also has tools to help investors develop a retirement plan and easily build and manage a diversified RSP portfolio. For those investors who are new to online investing, there are online tutorials and interactive demos available to help them get started.
National and regional online investing experts, including Connie Stefankiewicz, President and CEO, BMO InvestorLine, are available to provide straightforward guidance on DIY RSPs and online investing. They can discuss:
* Retirement planning online
* Benefits of investing online
* Who should consider investing online and who should not
* How to get started
* Tools and information available to help DIY investors
Online investing experts are also available to present live demos of DIY RSPs.
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