[GS8]

So I have money bulking up in my TFSA and was debating whether to invest it into something like RRSPs / GICs or invest it in the market.

The tanking dollar and talks of another interest rate cut have me wondering if there's even a point?

Instead of investing, I was also considering buying SOME car parts for the money I've saved so far. Namely a new front bumper for my G8.

I already have a bunch of RRSPs that I've amassed for the last 12 years.

I'm no money expert. Uncertainty always keeps me at bay especially considering how hard I work for my money. I'd rather leave it stagnant than to lose any of it.

What would you guys do?

[pastarocket]

Here's what I would do. Talk to an investment advisor with your bank. The advisor can help you set up an investment plan. You need to find out what kind of an investor you are? Risk averse or aggressive investor looking for capital gains? What is your expectation for investment return? These are the kinds of questions that you need to answer.

What investment products are you comfortable using? GICs, mutual funds, stocks, ETFs (exchange traded funds). Again, the investment advisor can help you by doing an investment review of your investment goals, aversion to risk, to determine what type of investor you are.

You also need to think short term, 1 to 3 years, long term 5 to 10+ years, what you are going to do with your money from investments. Do you need that money down the road to buy a home? I assume that you know that a TFSA enables you to get a return on your investment tax free. You can with draw money from a TFSA without paying tax.

Conversely, you pay a penalty tax to the government when you withdraw money from an RRSP. Unless you are withdrawing the money from an RRSP through a homebuyer's plan, you're paying tax from the RRSP withdrawal.

I would definitely talk to an accredited investment advisor. Talk to your account manager at your bank to see if he/she can recommend a certified financial planner. Ask the financial planner about their employment history, what services they provide, how they can help your investment portfolio, and what service fee/commission that he/she charges for services. We want to make sure this financial planner/investment advisor is a legit advisor instead of some scammer who wants to run investment scams by stealing your money.

[tiger_handheld]

Wrong section

The Business and Financial Forum - Vancouver's Top Classifieds and Automotive Forum - REVscene.net (http://www.revscene.net/forums/business-financial-forum_303/)

Leave stagnant = -2% return (inflation is around 2%)
GIC = - return (most GIC's are around 1.5 or lower these days)
Market = ??? (whats your age, goals, risk tolerance, time frame)
Car parts = ? (how much do you value a nice looking car? could yeild to some sexy time with a cute girl who's into cars, could not..)

Before you see any advisor, come up with some answers to those questions. Most major bank advisors are nothing more than sales people with a fancy title and office. They more you can show you know something, the less they will clown you.

[duc_evo_sp]

"legit advisor" LOL

If your not interested in learning how to invest you should allow a "legit advisor" to take your money to place it in anything that get him his commission.

Worst Advice EVER

[DaFonz]

Here's what I would do. Talk to an investment advisor with your bank. The advisor can help you set up an investment plan. You need to find out what kind of an investor you are? Risk averse or aggressive investor looking for capital gains? What is your expectation for investment return? These are the kinds of questions that you need to answer.

I would definitely talk to an accredited investment advisor. Talk to your account manager at your bank to see if he/she can recommend a certified financial planner. Ask the financial planner about their employment history, what services they provide, how they can help your investment portfolio, and what service fee/commission that he/she charges for services. We want to make sure this financial planner/investment advisor is a legit advisor instead of some scammer who wants to run investment scams by stealing your money.

Investment advisors at banks are perhaps one of the worst people you can go to for unbiased information. They all work on commission there and will sell you funds that gain them the highest commissions, not the things in your best interest.

There's also no such thing as an accredited investment advisor. The only licenses they hold are to sell mutual fund products / insurance / etc. Having the license to sell products is completely different from being able to provide useful advice.

A CFP is a decent recommendation though.

To OP:

- You are losing money by sitting on it. GICs will also lose you money over time.

If you want simple:
A Periodic Review of Diversification (http://canadiancouchpotato.com/2014/01/30/a-periodic-review-of-diversification/)

If you want a good financial advisor, look for one that is fee based. Anyone that works for you for "free" is costing you a ton of money in the long run.

[RFlush]

Book and Weblog ? Authored by Garth Turner ? Greater Fool ? Authored by Garth Turner ? The Troubled Future of Real Estate (http://Www.greaterfool.ca)
Posted via RS Mobile

[duc_evo_sp]

RFlush is a G, just won my respect.

Book and Weblog ? Authored by Garth Turner ? Greater Fool ? Authored by Garth Turner ? The Troubled Future of Real Estate (http://Www.greaterfool.ca)
Posted via RS Mobile

[GS8]

Book and Weblog ? Authored by Garth Turner ? Greater Fool ? Authored by Garth Turner ? The Troubled Future of Real Estate (http://Www.greaterfool.ca)

Good read. Can't say I've ever been bothered to touch real estate.

My friend bought a Duplex for $500k. It wasn't even perfect. The basement was far from it. He must have invested another $70k just in repairs and landscape. I asked him why did he buy now and he just responded with 'I don't want to rent'.

Then he lost his job....

And now he and his fiance struggle. To top it off. his tenants are moving out. So now they have a giant mortgage with no tenant to help leverage the payments.

As for myself:

Looks like I have a lot of reading to do if I want to establish some direction. I don't revolve around money but still need to be smart about the choices I make. Kind of feels like I'm throwing money in the washing machine and hoping it doesn't wash out.

[radioman]

Depending on how much money you make contributing to your RRSP isn't a bad idea. Make sure you use any matching contribution amount your employer currently offers.

If you dont like risk consider looking into some segregated funds. Which you can have your registered funds (TFSA, RRSP). For what its worth my TFSA Returned 11% in the last 12 months in a "low" volatile fund.

Find a CFP and don't think the bank is the only option.

[duc_evo_sp]

I don't like RRSP's, it's a fools investment or a lazy man's investment

Depending on how much money you make contributing to your RRSP isn't a bad idea. Make sure you use any matching contribution amount your employer currently offers.

If you dont like risk consider looking into some segregated funds. Which you can have your registered funds (TFSA, RRSP). For what its worth my TFSA Returned 11% in the last 12 months in a "low" volatile fund.

Find a CFP and don't think the bank is the only option.

[radioman]

Care to elaborate?

[duc_evo_sp]

Care to elaborate?

Exactly, your so lazy to figure it out for yourself. I'm not your mother, I don't want to hold your hand.

[rawr]

Why not rsps? Lowers your income for the year, potentially putting you in a lower tax bracket. Tax deferred until you withdraw. By the time you withdraw yourw gonna be retired, so you'll pay less taxes. If you're putting money aside for retirement I don't see why this is a stupid idea like you say.
Posted via RS Mobile

[SiRV]

My top two reasons for RRSP:
1 - lower's taxable income for the year
2 - evades US-withholding taxes on my US holdings

[SiRV]

My personal favorite piece of advice is to build up a well diversified portfolio of a few ETF's that capture the market in it's entirety.

If you're afraid of buying ONE specific stock due to fears of one company crashing, why not buy ~7000-50,000 stocks? Over the long run (10-20 years) your bound to come out positive.

Check these links out:
https://personal.vanguard.com/us/funds/snapshot?FundId=0970&FundIntExt=INT
https://www.vanguardcanada.ca/individual/etfs/etfs-detail-overview.htm?portId=9554
https://personal.vanguard.com/us/funds/snapshot?FundId=3369&FundIntExt=INT

Just by holding those 3 symbols in your portfolio will expose you to ~10,000 stocks
Removes risk of 100% failure (you're money going to zero).

The worst that can probably happen will probably be a 30% decline, followed by a rebound over a few months/years depending on circumstances.

Another piece of advice... don't try to time the market, it's just as bad an idea as picking a stock. Jump in when you can, otherwise you'll get priced out. Think back to 12 years ago when you started your RRSPs, don't you wish you had invested in anything at all?

[1.7El_guy]

You also need to think short term, 1 to 3 years, long term 5 to 10+ years, what you are going to do with your money from investments. Do you need that money down the road to buy a home?


You really need to think about this before seeing any investment adviser for help.

If you want peace of mind, stick with managed solutions that gives you the right amount of risk/reward. If you don't have an idea, ask yourself this question: If you invest 1000 and lose $50, will you be able to sleep at night? How about $100?

That % will give you an idea which category of risk tolerance you fit into. Now go on globe and mail investment to read up on some funds. Do your own DD.

[DaFonz]

Book and Weblog ? Authored by Garth Turner ? Greater Fool ? Authored by Garth Turner ? The Troubled Future of Real Estate (http://Www.greaterfool.ca)
Posted via RS Mobile

Garth Turner gives questionable investment advice at best.

Garth Turner - Greater "What" - Exactly ? (http://garthturnergreaterfraud.blogspot.ca/)

Anti-Turner ETF - Theoretical Returns 2010 -2011 |Garth Turner - Greater "What" - Exactly ? (http://garthturnergreaterfraud.blogspot.ca/2013/01/anti-turner-etf-theoretical-returns.html)

Garth Turner as a personal wealth manager? (http://canadianmoneyforum.com/showthread.php/11763-Garth-Turner-as-a-personal-wealth-manager?)

Garth Turner Economic forecasting (http://canadianmoneyforum.com/showthread.php/1531-Garth-Turner-Economic-forecasting)

Garth Turner Can Be Wrong, But He?s Mostly Right (http://www.timelessfinance.com/2012/11/12/garth-turner-can-be-wrong-but-hes-mostly-right/)

Worthwhile Canadian Initiative: Garth Turner bleg (http://worthwhile.typepad.com/worthwhile_canadian_initi/2011/04/garth-turner-bleg.html)

[radioman]

Exactly, your so lazy to figure it out for yourself. I'm not your mother, I don't want to hold your hand.

It's my line of work. I can't figure out your opinion based off of one sentence.
I'm always up to hear what average folk have to say.

[DaFonz]

It's my line of work. I can't figure out your opinion based off of one sentence.
I'm always up to hear what average folk have to say.

I couldn't figure out if you invested in a seg fund from your TSFA from your post, but if you did - why?

1-2% extra drag over already high MERs on mutual funds and all you get a protection from creditors and guaranteed principle (after being locked in for ages). Seems silly if you're young and doing the long play.

[radioman]

You're completely correct DaFonz.
There really isn't any compelling argument for a young person to hold a seg fund as the maturity and death guarantees aren't that useful.
I'm not mutual fund licensed so the only way I can make money on trailers from my investments are through segregated funds.
Hope that answers your question sufficiently!

[SiRV]

It's my line of work. I can't figure out your opinion based off of one sentence.
I'm always up to hear what average folk have to say.

Dont even bother entertaining that guy. His post was completely uninformative, and perhaps even dangerous to someone looking accumulate wealth
Posted via RS Mobile

[sonick]

Just a few thoughts, pretty much reiterating points made by others but boiling down my thoughts:

* To RRSP or not to RRSP is a whole other discussion altogether since we have no details of your future plans, income levels, etc. But just off the top when you ask 'what would you do', I would put it in some ETFs and diversify under your TFSA. Personally, I contribute to RRSP and put the return towards TFSA in ETFs.

* As mentioned by others, big fan of ETFs due to how easy it is to get a solid balanced and diversified portfolio. I use Questrade where it's free to buy ETFs and only charge commission when you sell (from $4.95 up to max of $9.95 IIRC)

* As for talking to a bank advisor, it is indeed pretty much asking a car salesperson for advice on what car to buy. Most of them are glorified salespeople. Find a CFP, ask around for recommendations, and find one you feel you can trust (luckily in my case my dad is a CFP).

* Garth Turner must be taken with a grain of salt. He is bold and very convincing, but you have to pick and choose advice. Again, a CFP that you trust can provide insight into the other side of the arguments that Garth dishes out.

[Tapioca]

I used to work for a bank and they pay their run-of-the-mill financial advisors 30K a year to sell you products you don't need. You're better off reading from a variety of sources, talking to some colleagues, and figuring out what your financial goals are.

I actually enjoy reading youngandthrifty.ca. It's an all-around finance blog for people under the age of 40. You should also try lurking around RedFlagDeals' finance forum.
Posted via RS Mobile

[Wild_Penguin]

I used to work for a bank and they pay their run-of-the-mill financial advisors 30K a year to sell you products you don't need. You're better off reading from a variety of sources, talking to some colleagues, and figuring out what your financial goals are.

I actually enjoy reading youngandthrifty.ca. It's an all-around finance blog for people under the age of 40. You should also try lurking around RedFlagDeals' finance forum.
Posted via RS Mobile

I also like Canadian Money Forum (http://www.canadianmoneyforum.com) It's a good place to start reading and a lot of knowledgeable people on there.

[duc_evo_sp]

It looks like people agree about Financial Advisers being sketchy at best when it comes to investing.

But when it comes to RRSP's, most people can't find the flaws.

Even with Real Estate, I can see that there will be a "BIG CORRECTION" aka "COLLAPSE" that will benefit the few and burn the majority.

[RFlush]

I have a question to those who might know the answer. I have been a non resident of Canada since the end of 2009. I have never contributed to any RRSP or TFSA. If I return to Canada let's say tomorrow and claim residency again, can I use the the past 5 years of zero contribution and add to my limit? Or it doesn't work like that. Sorry, I really don't have the slightest clue.
Posted via RS Mobile

[GS8]

I will be man enough to say that I don't really care for money but I accept its purpose and come to terms with how I need it to survive but I guess I'm not good at looking ahead as I'm too busy living in the present. I know that's dangerous but part of me doesn't even want to live into my 60s.

The main reason I started hording my money was due solely to the high cost of living in this part of the country. Wages don't rise to compensate so gradually you get further and further away from that line that keeps you in the financial safe zone.

BUT it looks like I should do a 180 and start thinking about this thoroughly. I don't even know what I want other than not to lose the money I worked for.

[SiRV]

Even with Real Estate, I can see that there will be a "BIG CORRECTION" aka "COLLAPSE" that will benefit the few and burn the majority.

Anyone reading this... or any other absurd article about housing crash in Vancouver, or stock market crash or end of the world type article... please take it with a grain of salt. These are all really just extremist opinions about what could potentially happen.

Stocks for example... there was a huge scare a few years ago (2011?) due to media hype - much like the media hype about RE in Vancouver. In 2011, the world was going to end, USA was going to shut down yada yada. The following years, if you invested in the US economy, your portfolio would have soared, especially with the 30% gains over the last year alone. Say the economy tanks in 2-3 years, so what, at least you collected the dividends and made money on the run up before getting hit with a correction.

Same thing goes for housing, you never know when a correction will come. It might come soon, it might come 10 years from now (it's 4 years from the 10 year anniversary of the major recession!). But do you really want to miss out on the next run up in property value - you could wait and totally get priced out of the market... but will the dip be enough to price you back in at that point?

[duc_evo_sp]

But do you really want to miss out on the next run up in property value - you could wait and totally get priced out of the market... but will the dip be enough to price you back in at that point?

I am guessing the SIRV is in Real Estate at the moment and has a biased opinion on RE. But something most if not all Canadians aren't aware of is why is the Canadian RE properties soaring.

Don't be swayed by being "priced out" of the market. What a ridiculous opinion. "IF you don't buy now, you'll never be able to get in." That's awful way of thinking.

[Carl Johnson]

Buy now or buy never. You gotta love these real estate agents. It's like asking a barber do you need a haircut. I don't have a crystal ball on where the Vancouver housing market is heading. But I do know that when a 2-bedroom 700 square feet condo is selling between 400k-500k in Burnaby this is grossly out of reach for most first time home buyer. The real blood bath will probably come when rates go up in a couple years but as with the high consumer debt and sluggish BC economy a lot of folks are already dumping.

[dasani604]

Not everyone has the time or the capability to educate and take time to invest for themselves. Hence, the reason there still is a lot of people who flock to big banks to have advisors do their investments.

If you're going to an advisor who only sells mutual funds, watch out for which one they put you into. A lot of them don't know what they're talking about and have no clue about the markets. I, myself, was a victim until I started to take the time to educate myself. Ask the advisor about index funds - if they steer you away from them, then you know there's something up.

[finbar]

Fee based financial advisors >>> commission based financial advisors.

Bob Brinker (http://www.bobbrinker.com/) has helped with the learning curve without having a selling agenda.

[!LittleDragon]

I tend to keep most of my money invested with only $1000 in the bank to cover car and insurance payments. Why let it rot in there? If I need more than $1000, there's the line of credit that I can pay back with the next pay check or by cashing out some holdings.

I used to trade daily and did very well but now with a few business ventures on the side in addition to the full time job, I don't have time to do my market research every evening. Instead, I've been buying up dividend funds. Specifically, PGP, PHK, NCV and NCZ. I don't have to do squat and it brings me a steady monthly payout. PHK at it's current price yields 12% right now, that's 1% per month. Because their dividends are a fixed dollar amount, the principal can go up/down/left/right and I'll still get the same dividends. Reinvest the dividend and your payout the following month will be bigger.

What I do with the dividend every month depends on my mood but I never spend it. Sometimes I reinvest it into the same funds, sometimes I reinvest in a new fund I found, sometimes I buy some gold for insurance and sometimes I'll buy a stock if it's low and I feel like speculating.

As always, don't take my word for it regarding these funds... do your own due diligence before buying.

[GS8]

I'm going to do a lot of reading on this and see what works for me.

Thanks everyone for the provided links. I'm not in any rush to act soon and will take my time and baby step it.

[duc_evo_sp]

Little Dragon is a savy fellow. ;)

[!LittleDragon]

Not really lol... I used to think I was a hot shot investor. I started at a time that you could've bought anything and turned it into gold. When the market started to go back to normal, I wasn't making as much and pretty soon was just breaking even. Thought it wasn't worth my time anymore, somehow I found the Wealthy Barber... great book.

People don't often talk about dividend investing because it's not as glamorous as stock trading and it's slow to build up that snowball effect. These days, I literally log on once a month to reinvest the dividend and to take some profit to put into funds that fell in share price. Much much less stressful and come tax time... dividend income is taxed at a lower rate than capital gains.

At the end of the day, the goal with this type of investing is to create a second steady stream of income.... instead of building up a million dollars and depleting it during retirement, that million dollars can bring you $10k a month to live on for the rest of your life.... and you still have your million!

[SiRV]

Excellent advice. Use caution with high dividend funds though as they tend to be fairly risky in the form of volatile share prices.
Posted via RS Mobile

[!LittleDragon]

Yes, of course do your research before investing in a fund. The reason I chose the funds I mentioned previously was because their dividends are relatively fixed. The two Pimco funds pay consistently 12c and 18c a share. Even when the share price was down below $5 in 2009. I would've loved to have picked up my shares back then, I'd own twice as much as I do now and my monthly dividend would be double.

You kind of get into a different mindset with this type of investing. When the share price goes down, you don't think "oh crap, I just lost a bunch of money". You'll see a lower share price and think "sweet, I can buy more shares than I normally would with my next dividend payment"

Share prices go up and down all the time but over the long run, it all averages out. It's not something I stress out about too much.

[SiRV]

Just did a quick glance at those funds, and from the looks of it, they look like they are primarily composed of bonds?

For tax purposes, are the monthly distributions taxed as 'dividend' or as 'interest' income?

[minoru_tanaka]

It looks like people agree about Financial Advisers being sketchy at best when it comes to investing.

But when it comes to RRSP's, most people can't find the flaws.

Even with Real Estate, I can see that there will be a "BIG CORRECTION" aka "COLLAPSE" that will benefit the few and burn the majority.

Are you pretending to mistaken REITs for RRSPs? hahah that's so funny

[sonick]

Good article going over pros/cons of TFSA vs RRSP:

RRSP or TFSA: Which one do you want fighting in your corner? | Financial Post (http://business.financialpost.com/2014/02/04/rrsp-or-tfsa-which-should-you-choose/)

[tubbs]

troll failed.

[RFlush]

TFSA is for pansies
tax free? savings account?
it already sounds cheap
ETF is where its at.

You use your TFSA to invest in ETFs to save on your taxes.

[4444]

TFSAs and RRSPs are investing VEHICLES for taxation purposes. they are not investments.

a bank will offer you a TFSA investment - this is a terminology fuck up and will be a GIC in a TFSA.

I think the majority here are so clueless - as such, get an investment advisor - you'll be ahead of the game by investing something, even better if you invest something regularly.

to be honest i'm very knowledgeable, and i use an investment advisor as in the long run it's easier and will grow my wealth better - i just don't have the time to learn the trading platforms, rebalance my portfolios, etc. i've now just gotten to the stage of my life where i'd rather pay someone to do this for me and get better than market returns (if i don't get at or above market returns, i'll just manage it myself, in a broad world market & fixed income set of etfs)

[Carl Johnson]

TFSAs and RRSPs are investing VEHICLES for taxation purposes. they are not investments.

a bank will offer you a TFSA investment - this is a terminology fuck up and will be a GIC in a TFSA.

I think the majority here are so clueless - as such, get an investment advisor - you'll be ahead of the game by investing something, even better if you invest something regularly.

to be honest i'm very knowledgeable, and i use an investment advisor as in the long run it's easier and will grow my wealth better - i just don't have the time to learn the trading platforms, rebalance my portfolios, etc. i've now just gotten to the stage of my life where i'd rather pay someone to do this for me and get better than market returns (if i don't get at or above market returns, i'll just manage it myself, in a broad world market & fixed income set of etfs)

how do you go about finding a financial planner? there are so many of them around it seems. i find it hard to trust other people with my money, so I rather just do it myself.

[Gucci Mane]

financial panther eh?



sorry had to go there.

[will068]

TFSA is for pansies
tax free? savings account?
it already sounds cheap
ETF is where its at.

http://www.reactiongifs.com/r/2011/05/kobe_wtf.gif

[4444]

how do you go about finding a financial planner? there are so many of them around it seems. i find it hard to trust other people with my money, so I rather just do it myself.

as with everything, you would hope someone you know uses one they trust.

word of mouth is their strongest tool.

if you have >$50K, pm me and i'll give you the name of my one, but he won't touch anyone with less than $50K (that's something that will happen as they grow their business / book)

[Jas29]

Anyone else do dividend investing. I was looking at PHK after !LittleDragon said it above but its a us mutual fund and canadiands can't invest in it atleast that's what TD told me
Posted via RS Mobile

[MelonBoy]

People are really ragging on bank advisers.. I think they are great to a certain extent.

Not all of them are out to just get your money and commission. I'm currently working in a bank and I know a few individuals who honestly tries to help there clients. On the flip side i've seen other just invest for commission and sell products the clients don't need.

I personally tell my friends/family/clients to see an advisor at your bank and create a relationship. Its all about getting to know the person whose going to be taking care of your money. At the same time don't just blindly invest in whatever he/she may tell you. Take the time, research the product he/she offers and make a decisions on what you believe. Also don't be afraid to get a second opinion from someone/somewhere else.

To add on to what 4444 said about "I think the majority here are so clueless - as such, get an investment advisor - you'll be ahead of the game by investing something, even better if you invest something regularly." This is VERY TRUE, I go through hundreds of accounts each week and let me tell you the majority 60%(if not more) of the people I help. Either have barely anything in a savings account or doesn't even have one opened!

Honestly, If you don't have a savings account opened yet or have very little. Instead of worrying about what to invest in, just start off by opening a regular standard account. Set up a auto-deposit and just put money aside without taking any of it out.

Back to OP post, Car parts are great but saving that extra few grand for a down payment or large investment in the future is even better!

[4444]

i'd rather have an investment advisor that can offer me everything vs. bank advisors, which i believe (though could be wrong) are pushed to sell the bank products. agian, i could be wrong and would be more than happy to hear that i am.

my financial advisor is a friend - i trust him, there are controls in place, and i know how to invest and he and i share the same investment strategy, so i'm happy (don't go with a friend b/c they're ur friend)

[dasani604]

i'd rather have an investment advisor that can offer me everything vs. bank advisors, which i believe (though could be wrong) are pushed to sell the bank products. agian, i could be wrong and would be more than happy to hear that i am.

my financial advisor is a friend - i trust him, there are controls in place, and i know how to invest and he and i share the same investment strategy, so i'm happy (don't go with a friend b/c they're ur friend)

I wouldn't say bank advisors are pushed to sell products. The system plugs out certain recommended funds/most advisors don't know any better. Vast majority don't trade nor do they understand underlying mechanisms of the market.

Easiest way to tell, sit down and have a conversation with them if you have to see them in the first place.

You're right though, I would rather have an Investment Advisor because they have more and different securities to play with. Same case though, vast majority don't know shit.

Frankly, I would rather have a portfolio manager who can act under discretion. The time lag between an IA contacting a client, asking to confirm the trade, and performing the trade is just too damn annoying.

[4444]

If ur IA is trading, u need a new IA.

If they're trading, they're doing it bc they make commissions on each trade. Any IA worth his weight will also preach diversification with slow and steady approaches - trading is more for a portfolio manager, and in that case I think they don't need permission to do what they do in their portfolio

[4444]

I tend to keep most of my money invested with only $1000 in the bank to cover car and insurance payments. Why let it rot in there? If I need more than $1000, there's the line of credit that I can pay back with the next pay check or by cashing out some holdings.

I used to trade daily and did very well but now with a few business ventures on the side in addition to the full time job, I don't have time to do my market research every evening. Instead, I've been buying up dividend funds. Specifically, PGP, PHK, NCV and NCZ. I don't have to do squat and it brings me a steady monthly payout. PHK at it's current price yields 12% right now, that's 1% per month. Because their dividends are a fixed dollar amount, the principal can go up/down/left/right and I'll still get the same dividends. Reinvest the dividend and your payout the following month will be bigger.

What I do with the dividend every month depends on my mood but I never spend it. Sometimes I reinvest it into the same funds, sometimes I reinvest in a new fund I found, sometimes I buy some gold for insurance and sometimes I'll buy a stock if it's low and I feel like speculating.

As always, don't take my word for it regarding these funds... do your own due diligence before buying.

Do u know what the premium over their nav is? I think at least one of them has a 50% prem! that's pretty risky. I assume u've done this analysis as part of ur dd, but that would scare me especially in the junk investment space

[mr.wonderful]

I am 17, but I think I can help. DO NOT go to any investment advisor, they alwayd tell you to diversfiy, which is stupid. Invest your money into a business your passionate about and follow your dream, life is short. One of my dads friends got a degree in accounting and started a small firm where only he and another employee worked from his house and he raked in $300,000 a year although he is now retired.
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[sonick]

I am 17, but I think I can help. DO NOT go to any investment advisor, they alwayd tell you to diversfiy, which is stupid. Invest your money into a business your passionate about and follow your dream, life is short. One of my dads friends got a degree in accounting and started a small firm where only he and another employee worked from his house and he raked in $300,000 a year although he is now retired.
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Lolololol truth. Are you multucartual Jr.?
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[4444]

I am 17, but I think I can help. DO NOT go to any investment advisor, they alwayd tell you to diversfiy, which is stupid. Invest your money into a business your passionate about and follow your dream, life is short. One of my dads friends got a degree in accounting and started a small firm where only he and another employee worked from his house and he raked in $300,000 a year although he is now retired.
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no man, starting a business is for old ppl, what you want to do is take your money, buy a bunch of drugs, and sell it.

i know this one guy, he did this, now he's dead.

you're an idiot,

[speediandy]

I would invest in RRSP's or at least stocks. You dont want to be 60 and not have enough

[waddy41]

RRSP is not an investment, it's an investment vehicle