Parking your money in money markets. When markets are volatile, investors often flock to the perceived security of short-term investments. People often "park" their capital in a safe low yielding investment such as money market funds until the markets settle down. But too often, they wait too long. "This is your hard-earned after-tax income," explains Saar. "You have earmarked it for retirement so why not get it working for you? By investing in money markets, you forego the potential returns that a well-developed investment plan and diversified portfolio can help deliver."
To avoid falling into these and other RRSP investing traps, it is important to take the time to develop a good financial plan. Whether you use a financial adviser or invest on your own, planning and research are essential to creating a successful RRSP strategy for the long term.
When done correctly, the deals can very easily be assimilated into your normal work day. As you do your other work, you take calls from tenant buyers on your properties, give them the information on the particular property they are calling on, qualify them, get credit checks done, and show property on your time schedule, not theirs. Again organization and time management skills come into play along with re-vamping your materials to work more efficiently.