Judy Thomson, director for BMO Mutual Funds answers some common questions from investors.

Q: I want to make the right investment choices, but I'm so busy that I often don't have the time. What should I do?

A: Even with a wealth of investment knowledge at your fingertips, some people just don't have the time to decide when and where to invest. Finding an investment professional to advise you in making those decisions will help you feel more comfortable with your investments.

A visit to your local bank branch to meet with an investment professional, whose services are free, is a great way to start building a portfolio, or to evaluate an existing one.

Q: Why should I know what kind of investor I am? How do I determine that?

A: Determining what kind of investor you are is a very important first step toward building an investment portfolio that you are comfortable with and that will help you achieve your goals.

Using online tools like BMO Investor Profiler, you can take the initial step of evaluating your investing knowledge and determining your risk tolerance.

Whether you're an aggressive or conservative investor, the key is to maintain a diversified portfolio in order to potentially get more out of your investments.

Q: Should I consider taking out a loan to invest in my RRSP?

A: Borrowing from your bank to invest in your RRSP can be an effective way to build on your investment portfolio. Banks typically lend at the prime rate for retirement accounts, and you can pay down your loan with the tax refund from your RRSP contribution.

Be sure to pay off your loan sooner rather than later to avoid potential interest buildup.

Q: How can I figure out how much I will need when I retire?

A: There is an easy way to find out approximately how much you will need for retirement. BMO Financial Group's RRSP Savings Calculator can help take the guesswork out of planning by taking you through a few simple steps to put you on the path to finding the retirement solution that's right for you. You can find the calculator at www.bmo.com/rrsp.

Information provided by BMO Retail Investments. More information is available at your local bank branch or online at www.bmo.com/investments.