Jonathan D. Corpina, Senior Managing Partner at Meridian Equity Partners, offers insights into the 2024 market and provides four resolutions for investors in 2025 to achieve financial prosperity.
Meridian Equity Partners Senior Managing Partner Jonathan D. Corpina shares his 2024 market wrap up.The new year brings an opportunity to decide and take action. After a banner 2024 for equities and fixed income, here are four potential resolutions for 2025 that will help clear a path to prosperity.Most Canadian investors saving for retirement also hold debt. According to the latest Statistics Canada tally, Canadian households owe $1.73 for every dollar they take in.
Debt levels have been dropping since the pandemic but have rocketed since the 1990s when debt-to-income was 90 cents to the dollar. Despite several interest rate cuts by the Bank of Canada, the payback rate on most debt ranges from 4.5 per cent for a variable rate mortgage to nearly 30 per cent for some credit cards. That debt is guaranteed to compound over time at its posted rate. No investment available on the public market can guarantee an equal return. In short, every dollar compounding against you in debt is one less dollar compounding for you in investments.Mortgages and other secured debt have the lowest rates, which brings an opportunity for homeowners to consolidate their high-interest debt into one low-interest loan.If your debt is under control, you can turn the tables on the bank and generate guaranteed returns by becoming a lender. Annual yields on fixed income, such as guaranteed investment certificates (GICs), remain at about four per cent but growing a significant portion of your portfolio in fixed income regardless of yield also has the ability to stabilize returns as you age and need a reliable cash stream in retirement. A good strategy to get the most from a fixed income portfolio is to stagger maturities over several time periods to get the best going rates. How much fixed income you hold in your portfolio depends on your age, return goals and whether you can stomach the volatility of potentially lucrative equity market
INVESTMENT FINANCE DEBT RETIREMENT FIXED INCOME
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