One more way to manage your RRSP

Some investors want to manage part or all their RRSP portfolio themselves by selecting the securities and investment products in it. That's the whole point of self-directed RRSPs. 

With a self-directed RRSP, investors are in charge of their portfolio, they have the complete freedom to determine their investor profile, decide how they want to allocate the assets in their portfolio and select securities and investment products on their own without an advisor's help.

Like all RRSPs, it allows you to accumulate tax-free retirement savings, make non-taxable withdrawals (Home Buyer's Plan and the Lifelong Learning Plan) and to deduct contributions from taxable income. 

Plan for retirement as a shrew investor

The self-directed RRSP is a good option if you're an informed investor, prepared to put the time and energy into managing your investment portfolio. Even if you choose this option, you're never left entirely on your own; online brokerage platforms offer a number of tools to help you make the right investment decisions:

• Market analysis tools (technical and fundamental analysis)
• Access to research services that help you find information and alerts based on fundamental and technical analysis criteria
• Model portfolios 
• Market review
• Seminars and webinars 

And with some products, like Desjardins Online Brokerage's Disnat GPS, alerts allow you to track, in real time, changes to portfolios designed and managed by financial professionals.

The tools available to you as a self-directed investor help you make the right decisions. However, it's important to keep in mind that as the person who chooses the RRSP or any other type of self-directed account, only you are responsible for the decisions and transactions you make in your investment account.