Start early and pay yourself first.
Growing your money is about having the discipline to save regularly, investing in a solution which meets your reward and risk expectations, and allowing time for the magic of compound interest to work for you.
By saving even a small amount every month and allowing your savings enough time to grow, you'll be surprised how quickly your money can grow.
If you save $375 a month over a 45-year career, with a 6% return and the power of compounding returns, you could have $1 million by the time you retire.*
To help with the discipline of saving, you can pay yourself first.
Whenever you have earnings, the first thing you should do is take a percentage for you and your savings. For example, every time you get paid you could take 5% of your pay and invest it.
You can make a Smart Money PlanTM to keep your savings on track.
A Smart Money Plan™ is a free, custom financial plan to help you get where you need to go. You tell us about your goals and your current financial situation and we work together to create your plan. Read more about how to make a plan.
There are many ways you can grow your money.
Here’s a list of investment products available:
- Term deposits
- Registered plans
- Mutual funds**
- Stocks and bonds**
- Responsible investing**
- Low-fee investing**
- Investing on your own**
*Example only. Talk to a G&F expert about your specific needs.
**Mutual funds are offered through Credential Asset Management Inc. Mutual funds and other securities are offered through Credential Securities, a division of Credential Qtrade Securities Inc. Credential Securities is a registered mark owned by Aviso Wealth Inc. Online brokerage services are offered through Qtrade Investor, a division of Credential Qtrade Securities Inc.
How to get started
The best way to get started growing your money is to meet with a G&F expert to talk about your short and long-term goals. We can help determine what returns and risks you are comfortable with. Once we have a good understanding of your situation, we can recommend a plan and the best investment vehicle to fit your life.
Book an appointment with us today!