Friday, February 12, 2016
I could have done worse; I could have given all my money to London Life.
Whenever I begin feeling badly about my investments. Whenever I start berating myself for my lack of experience. I look at my London Life investment statement and my present approach to my retirement investments doesn't seem all that bad. I didn't give London Life all my retirement money. That, in itself, was a brilliant move.
Back in 2000, 16 years ago, I got a call from London Life telling me I should make the money that had collected in my insurance policies work harder. I could invest that money in a London Life RRSP.
In fifteen years they have managed to whittle that original investment down by a full $2474.18. I have lost 59% of my original investment.
If I had put the money in my old standby, The TD Monthly Income fund, I'd have had $13,893.11 by now.
Oh well, when I turn 71 this RRSP must be converted or closed. At that point the 75% guarantee should kick in. I'll only lose 25% of my original investment.
I think this experience has made me wary of believing the promises made by any and all supposed experts in the saving for retirement field. (I wrote about this some years ago. The post was called: Freedom Fund down 71%; Mattress Up 345%.