It is hard to believe today that less than half a decade ago, even people with substandard knowledge of investing had a lot of confidence in the markets. People were more than willing to listen to the advice of financial advisors who told them, go ahead and make your house plans for your retirement years, because there is no safer vehicle for your money than an RRSP. Today, of course, thousands of Canadians are reeling from the economic impact of the Wall Street Crash. They find themselves wondering where on Earth their investments are safe today.
The truth is, any investment you make has always carried some degree of risk. While there is a tendency for private citizens and the media to vilify financial advisors in the after shocks of the crash, no financial advisor could have predicted the fallout from the sub-prime mortgage fiasco. And if they could, it's likely they would have been picked up by a private firm a long time ago, rather than work for the public.
Therefore, financial advisors such as those employed by Edward Jones, Manulife, and other companies are still worth trusting as far as their opinions on where to put your money. They aren't perfect, but they do have knowledge which goes beyond that of the average individual. They can tell you which family dentist Toronto pros are likely to realize profits and pay dividends over the next half decade if you are interested in investing, or the mutual funds which have the greatest growth potential.
If investing money and letting it sit for a while does not strike you as a great option, no matter what the figures are for a certain growth industry, you might want to take a shot at real estate. Marcus Tzaferis of MorCan Direct in Toronto will tell you that people's reluctance to commit to real estate as a result of the crash means there are better chances to realize profit than ever, provided you make the right choices.
Just where is real estate likely to be a growth industry when it comes to your money? Well, traditionally the areas around university and college campuses always do well. There are always students looking for housing near to the University, so real estate owners in these areas are guaranteed renters. Not only that, the profits realized from these buildings can be quite healthy indeed.
If you want a concrete answer to the question of where your money is safe, the unfortunate answer is nowhere. You can keep it all in the bank, but even banks have been known to crash. The best advice is to listen to those with proven knowledge if you want to invest; odds are good it will pay off.