>My First RDSP Wrinkle

>Remember when I opened my RDSP? Well, I’ve found my first minor annoyance.

Every month, I’ve been plopping money in the plan, but I’ve been so busy with everything that I haven’t been able to look over my options on how the money should be invested. I’d love to get lots of reward, but I also don’t want to lose what I’ve put in. That would be a royal kick in the crotch. So I want to choose wisely.

Yesterday, I called the lady who helped me set up the plan and asked her if I could come see her and we could have a long and involved chat about investment options. I know her, I’m semi-comfortable with her. I thought this would be a good plan. But oh no, that was not to be. BMO says she can only start the RDSP’s. Now if I want to do anything with them, I have to call the investment line.

In other words, when I have to make important decisions, I have to call and talk to who knows who, who doesn’t know me at all. Plus, I always feel this sense of pressure when I’m talking to a random rep on the phone. The lady at the bank tells me over and over that they are not timed and paid by how many they can get through, but it’s just a psychological thing. You get what you need over the phone as quick as you can. You know others are holding and need stuff as much as you do. I know someone’s time is valuable when you meet face to face, but when you go see someone, you’ve scheduled that appointment, so you know that time is yours and yours alone.

So, now I have to track down my mom and dad’s financial planner. He said I could talk to him, so I’ll have to take him up on that. I’ll have to talk to him over the phone, but he’s not one of a million reps in a bank of cubicles taking zillions of calls. I can schedule a time and talk to him. Plus he knows my family.

I guess the lesson is if you have an RDSP and feel the same way I do about this sort of thing, either find a rep at the investment center and get their number and always deal with them, or find someone who you trust to discuss this stuff with. You can’t just walk in the bank and talk to someone there. That’s what I’ve learned, so I might as well pass it on.

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