[i-VTEC]

say I have extra 5K

is it better to put in GIC TFSA?

OR TFSA with Mutual Fund investment?

Is it the right time for doing Mutual Fund?

[Sky_High]

Casino

/thread

[i-VTEC]

Casino

/thread

hehe

Richmond Review - Murder/suicide came after man lost $200,000 at casinos (http://www.richmondreview.com/news/145986045.html)

Some people do win in Casino, but very rare. Casino is pretty much just having fun, but not to invest your money with it

[GGnoRE]

hmm I would go half and half but for 5k, I would just keep it in my savings account

[Wild_Penguin]

It sounds like you want safe investment. I hate GIC's because your money is locked in. You can look into a TFSA at a high interest savings account. One of my fav. Is Hubert financial (happysavings.ca) there current rate is 2%.

[Speed2K]

Depends on a number of factors, one being, when you need to use the money.

[PJ]

It sounds like you want safe investment. I hate GIC's because your money is locked in. You can look into a TFSA at a high interest savings account. One of my fav. Is Hubert financial (happysavings.ca) there current rate is 2%.

This.

Maxing out your TFSA every year should be a no brainer. Then the rest in mutual funds, high interest savings, stocks, whatever. That all corresponds to your risk tolerance.

Everyone will tell you a different story, but it depends on your situation. Money going straight into RRSP's doesn't seem worth it to me, personally. Depending on your bracket, for every ~$9000 you lock away, you only delay around ~$1000 in taxes. How much more could you be making with that $8000? RRSP's should be a last resort.

Unless you are absolutely terrible with saving/managing money, I think there are better investment options than RRSP's.. but that's just how I see it.

[waddy41]

What's you time horizon
I'd buy BMO and won't touch it for years...
collect dividends and sell covered calls