WWYD? - 30% decrease in RRSP

NYSpeed Automotive NYSpeed Off Topic
1

i dunno if you guys call them RRSP’s down there…

anywho… didnt happen to me, happened to my wife. she received her statement for the year and between december 31, 2014 and march 31 2015 her mutual fund driven RRSP lost 25% and then lost the other 5% in the next 3 months…

immediately prior to this she was told to take the $ out of a GIC account and into that mutual fund labelled moderate risk.

how the hell does a moderate risk mutual fund lose 30% in less than 6 months anyways.

so yeah… no recourse? some recourse?

this is through one of the big 5 cdn banks btw.

2

It’s similar to a 401k I assume?

3

probably held a lot of energy stocks?

Thank your lucky stars that you aren’t old yet. Do not sell. It will go back up even if it takes years.

There is no recourse.

4

If that’s moderate risk I’d hate to see how the high risk fund performed.

5

Were they all in China companies? Holy shit. I manage and log into mine every 3 months. Too much going on in the world to not check it more than just a yearly statement to be honest.

6

Jesus… I should check my shit asap…

7

im in US large cap 50% and small cap 50%, i’m just about even YTD… i check my shit daily,though.

8

[TABLE=“class: grid, width: 320”]

3 Months
YTD
1 Year
3 Years
5 Years

-0.29%
6.40%
8.12%
16.62%
13.05%

[/TABLE]

Not too bad except for recently. This is mostly blue chip, midcap, and some other misc funds tossed in.

9

3Mo
2.1%

YTD
5.85%

1YR
9.4%

3YR
24%

I had some real estate ones that pulled me down a bit this year and some international ones that I got out in the summer that were hurting me.

10

I wish i knew what i was doing. Im lost when it comes to this stuff. I have a 401k setup but no clue if I’m even pulling from the right Investments. Who can i pay to take a look and steer me in the right direction?

11

If you are in a company one, a lot of HR groups have financial people come in and give people planning advice through the investment fund they are in. Most people are clueless and have no where to turn or even how to get involved in their funds so they usually are more than happy to have contacts to get basic advice.

12

thx I’ll be inquiring this morning with HR on my way out.