Thursday, September 6, 2007

My RRSP transfers are complete

Last night, the last piece of my retirement savings was transferred into my self-directed RRSP account. This means that I can currently see the real-time status of my entire retirement portfolio by checking the balance in a single account. This will help me to keep closer tabs on these investments, and also give me more control over my asset allocation. I know that, in the spirit of keeping a long-term view of retirement savings, it's generally recommended to check these investments on a less frequent basis (such as quarterly or semi-annually), but I like the idea of having all these assets under one "roof". It somehow makes the money more real to me.

Anyway, in the weeks to come, I will be thinking long and hard about exactly how I want to allocate these savings. My initial plan was to switch the whole balance over into index funds, but I have started thinking that I should hang onto some of my company's stock, since it's done phenomenally well in the past, and I believe in the company's future. I certainly won't maintain the highly concentrated portfolio I have now (75%!), but I think I'll leave a chunk (less than $10K) in this stock, with a DRIP to take advantage of dividend growth. I'll also be continuing my bi-weekly contributions (with 50% employer match) into this stock, and periodically transfer and re-allocate this accumulation. I'm still wrapping my head around exactly how this will work, but at least I've now been through the transfer process, and I'll be ready to go when the next re-allocation is due.

I've done my bi-weekly update of the sidebar goals, and I've also updated my NCN Network chart. It looks like I'm on track to make my Emergency Fund and debt reduction goals for September, so we'll see how the other goals progress.

2 comments:

SavingDiva said...

Nice job staying on target for your September goals....I'm sure I'm not even close to having mine complete.

I check my retirement funds at least once a month...usually more than that...

four.pillars said...

I just converted my rrsp from low cost mutual funds to ETFs. I'll be doing a post or two on the experience since I learned a lot about the trading part.

Mike