Use this checklist to find out if your Registered Retirement Savings Plan (RRSP) is in shape and on track to help you reach your long-term goals:

• Contribute in time. The deadline for your contribution is within the first 60 days of the year. But don’t wait until the last minute. Get a head start by making (or at least starting) next year’s contribution when you top up this year’s.
• Contribute regularly. Pre-authorized contributions can go automatically from your bank account to your RRSP.
• Make your contributions as early as you can. Over time, this is an effortless way to increase your nest egg. Investing earlier in the year, rather than later, gives your savings more time to benefit from tax-sheltered, compound growth.
• Maximize your foreign content. Under current rules, you may invest as much of your RRSP holdings in foreign assets as you want. Investing outside Canada can lower your overall investment risk by improving your portfolio’s diversification and offering the potential for higher returns overall.
• Rebalance regularly. Have you reviewed your portfolio in the past 12 months? Rebalancing it at least once a year ensures that your asset allocation stays aligned with your investment objectives.

An investment professional can help you get your portfolio back into shape quickly. Call Servus at 187SERVUSCU(1.877.378.8728) and make an appointment with one of our wealth advisors.

Servus Wealth Strategies Ltd. is a subsidiary of Servus Credit Union Ltd. offering financial planning, life insurance and investments. The information contained in this article is provided as a general source of information and should not be considered personal tax advice or investment advice.