Thursday, February 19, 2009

People are Going to Save, not Spend

The inevitable outcome.

5 comments:

Skye said...

Good, screw the malls.

Cynixinc said...

"Good, screw the malls."

And all the people that work there. And all the people that work making stuff they sell there. And all the people that cut the hair of the people that make the stuff...etc...

patriotz said...

Once you get past "And all the people that work there", everyone is in China.

dom said...

I need some advise. I currently have a financial planner and she has done nothing but loose me money. I contribute about $1700 a month to RRSP and non-registered holdings. I understand that the market has fallen and that everyone has lost money, however, my trust and faith in my current planner has severely diminished. I was thinking about not giving her anymore money and put future investment in i-shares/index funds. Any thoughts in this? I thought buying solid blue chip companies stocks and wait 10 years would be a good move. Help if you can...perhaps setting me in the right direction or giving me some sites that I can read and get more informed.

thanks,
DN

jesse said...

"I was thinking about not giving her anymore money and put future investment in i-shares/index funds."

Are you using a financial planner or investment advisor? Personally I would pull all your $ into self-directed. If you need advice, pay for it through a fixed fee service. mohican can likely recommend people if you email him directly.

The problem with FPs is the money from back end commissions and insurance is so lucrative it's very hard to find one who can be considered unbiased. When interviewing one, ask some questions about how they value an asset. If they can't simply explain it to you in a few sentences, keep looking.