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How should I invest my money at the bank? |
I am still young and have a part time job and was wondering which way would be the best to invest my money. I've heard of a GICs or RRSPs but what would be the best for me? I'm making up to 2000 per month but also have other expenses such as phone bills, car insurance, ie... So how should I invest my money for the long run. I live in ontario canada and bank with TD canada trust I would invest in a low cost index fund to match market returns.. go to Vanguard.com and look up their Index funds (Index funds are like a mutual fund but probably 10x cheaper). You can buy an index that tracks (matches) the S&P500 or the Dow and just collect the dividends and watch your money grow. Even better if you keep adding money to it monthly and enroll in a DRIP (Dividend reinvestment plan).. Hope this gives you an idea of what is possible. Smart Idea and Financial Strategy for Success! I got a program from a young millionaire a few months ago and found that it has been very helpful for me in my investment decision/ portfolio choice. The best way if you don't want to make decisions is to give it to a money manager...your bank may have some products or see a financial advisor. |
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My pocket ...50% in Shares( 30% in large cap, 15 % Medium and 5% small cap) 30 % Mutual funds ( 20% in Equity, 10 % balanced, 5% Liq... Property is booming at the moment so i would sugest invest there. ...Standard investment advice is that you should invest in a diversified mix of stocks, bonds, and money market funds. If you are like most people you will invest part of your money aggressively in s... Congratulations on taking charge of your life. If you keep it up, there's no doubt that you'll do well. There are so many things you can do or ways you can invest. You can save and... first pay off ur bills , great return on investment and no risk. 2nd set aside 1000 for 'emergencys' so u don't go into silly debt. 3rd set aside 3- 6 months emergency living f... Hello, I also had a similair problem as you have. I had a good amount of money, and wanted it to grow. So I looked around on the internet to find something that is: 1) giving me great returns... Instead of individual stocks, look for a well diversified mutual fund with no load and a low expense ratio. Check Vanguard funds (I personally like the Total Market Index for a core holding, but t... |
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