RRSP buy and hold recommendations.
Hi all,
I am still pretty new to all of this. Have been accumulating a TFSA via Wealthsimple. We've now made the decision to move our (my wife and I) spousal RRSP from 4 Mackenzie mutual funds to Wealthsimple where we hope to invest in, ideally, one or two ETFs.
Here's our parameters:
* Funds will remain in the spousal RRSP for at least 7 years but more likely 10 years. (Yes, we're that close to retirement :-))
* Current value of spousal RRSP is just over $200k
* For next 7 years will contribute approx $8k / year - likely lump sum in the first months of the calendar year.
* Are not interested in doing any trading - just buy and hold.
* Been thinking of one of the EQT funds like XEQT.
Questions:
* Some research suggests that as you approach retirement you should increase holdings in bonds. Perhaps even go for an ETF like VGRO that has an approx 20% bonds. Do you agree/disagree? We'll be able to avoid drawing down the RRSP during a down turn.
* Is the one ETF approach reasonable given that out basic goal is growth without undue risk?
* Any other suggestions or thoughts.
Thanks in advance for any help. Much appreciated.
