Experts urge retirees to 'stay invested' as concerns over devalued RRSPs rise

TORONTO -- Growing economic uncertainty and fluctuating global markets are putting additional stress on Canadian retirees who face both financial insecurity and increased health risks due to the spread of COVID-19.

“All the market is doing is valuating companies and investments in a very short timeframe,” said Del Greco. But Paul Shelestowsky, senior wealth adviser at Meridian, says experts are still holding out hope for a V-shaped market rebound that will have a positive effect on most people’s investments -- retirees especially, providing their portfolios are well balanced and low risk.

For urgent matters that require in-person assistance, most of the country’s banks have dedicated their first opening hour to serve seniors and populations with greater health risks. Many financial advisors are also offering virtual or phone appointments. “They can even look at something like home equity lines of credit to cover shortfalls, things like that.”Both experts agree that the government has taken good steps to ease withdrawal requirements foras part of its slate of measures aimed at reducing the financial toll COVID-19 is having on Canadians.

peetygone It will bounce back big time!

There are no experts.

Yeah lose more money it’s not mine so I don’t care!!! Do what you need to do to keep your hard earned money

Why ? the govts killing them all off

'experts'

Canada Latest News, Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Cherry Blossoms Tests People's Dedication To Physical DistancingCherry blossoms tests people's dedication to physical distancing
Source: HuffPostCanada - 🏆 61. / 53 Read more »

Birthday In Isolation? Canadian Family Finds Sweetest Way To Show UpRalph Pisani's family came up with a heartwarming present for his birthday in isolation.
Source: HuffPostCanada - 🏆 61. / 53 Read more »

U.K. PM Boris Johnson 'in good spirits' in hospital, stays in chargeBritain's Prime Minister Boris Johnson said he was in good spirits Monday after spending the night in a London hospital where he was admitted with the new coronavirus. He couldn’t organize eggs on toast Give your photo editor a raise. Thats a nice meme.
Source: CTVNews - 🏆 1. / 99 Read more »

Toronto FC, Argos president Bill Manning ‘staying connected’ during hiatusManning’s staff have set up everything from meal delivery to daily virtual workouts for the Toronto FC players
Source: globeandmail - 🏆 5. / 92 Read more »

Experts look to rates of hospitalization, ICU admission to predict COVID-19 curvePublic-health officials, infectious disease experts and provincial data show that B.C.'s and Alberta’s efforts to flatten the curve may be starting to pay off. By contrast, Ontario and Quebec appear to be in an uphill battle ☹️ that might work in countries with universal health care, it won't work in the USA where perhaps 100 million people no longer can afford a doctor bill much less a hospital stay, as such millions could die in that country before any 'flattening' will occur Alberta and B.C. have similar populations. Quebec and Ontario also have similar populations. Ontario has had a high number of travellers in and out. Ontario testing has lagged.
Source: globeandmail - 🏆 5. / 92 Read more »

2020 Open Championship called off over coronavirus concernsThe golf major was scheduled to be played at Royal St. George’s from July 16-19
Source: globeandmail - 🏆 5. / 92 Read more »