anyone good with investments here???

[SInCity67]

Hey, I would like to start investing my money. MY main goal is to be able to buy a house when im 27 to 30 years old. Im 20 right now, so i have some time I have 10 grand to start up with but i would only like to invest 5 K right now and would like to invest the other 5 k in the new year.


I go to TD bank and heres the link of there investing page. I want something that can gave me a good return on my money and safe. https://www.tdcanadatrust.com/invest/fixedinc/icrcipmb.jsp


IM pretty lost with this stuff, i bought a book and it says I should start with CDs or somthing. But i cant find CD on that page

 

[westwoody]

Get your money out of there!

TD sucks, when the tech bubble collapsed their "advice" was to hold on to my tech mutual funds and wait it out. Thanks to them I lost about five times what you have to invest. Their priority is keeping your money in their pockets, not making money for you.

 

[CisForCookie]

Hey, I would like to start investing my money. MY main goal is to be able to buy a house when im 27 to 30 years old. Im 20 right now, so i have some time I have 10 grand to start up with but i would only like to invest 5 K right now and would like to invest the other 5 k in the new year.


I go to TD bank and heres the link of there investing page. I want something that can gave me a good return on my money and safe. https://www.tdcanadatrust.com/invest/fixedinc/icrcipmb.jsp

IM pretty lost with this stuff, i bought a book and it says I should start with CDs or somthing. But i cant find CD on that page

Good return and safe in the same sentence? hmmm...not sure if that's possible lol.

Anyhow.

You never did say what housing market you want in on...you could easily buy a house out right in cash in say Winnipeg, but you'd be lucky to just have enough for a down payment in Vancouver

You never did say if you're just going to buy 10k and let it sit for 10 years or if you'll be adding to that weekly/monthly/yearly and how much you'll be adding.

Investing is only part of your buy a house by 27 equation, everyday spending/money management/budgeting is often overlooked. Credit Card debt is evil, dont' get into that vicious cycle if you can.

Money in the big four banks', is silly, 1/10 of 1% on money you hold with them minus those transactions costs equals you'll end up paying the bank monthly rather than the bank paying you. Look at President's Choice financial as an alternative 3% to 4% interest, plus they give you points for paying bills, using your debit card etc...etc..use those points to buy stuff grocery (or to buy video games like me PS3 and Wii out in Novemeber woohoo) lol...

If you want safe then stick with those bonds, and CDs... That's like getting married and doing it in the dark and in missionary though...

You're young, you have time on your side go with individual stocks as your best bet, and index funds for a safer more diversified route try to avoid mutual funds unless you're into Sadist and enjoy paying someone else to lose money for you

 

[visiting]

Everything is a risk, but your age, if you have no real financial responsibilities, you can afford to take higher risk, which pays off a little more than something safer. Having said this, if you take the safer road, not sure than 7 years will make you too much money, but if you invest in the stock market, regularly, and don't worry about ups and downs that happen every day, you need to look at the future. I have always invest stocks that have DRIP's (Dividend re-investments Plans) so that the dividend's that I would normally receive a check for, get re-invested automatically. (not every company has this) Also some of the companies will let you invest directly once you are already a shareholder.

You need to do your home-work, and find out what type of companies you like, and what you consider safe, just remember there is no such a thing a Guaranteed return. You can always consider Mutual funds, but you still need to do your homework, as there are some that are more aggressive than others..

Lastly if you don't want to take any risk, you can get.....
http://www.csb.gc.ca/eng/ (still a risk that the government can't pay, but that is pretty much unlikely) Pigs will fly before this happens.

I am sure craiglist-lover will agree with me on the fact you need to be carefull, as stock brokers, or fincial advisers, get commissions, from your investment, they may get biggers bonuses or commissions for pushing you into a certain direction. So you need to be alert, and understand what your investing in.

Good Luck... and remember think long term at your age!

 

[SInCity67]

I should say, i put away $500 every pay check away. I make pretty good cash at my age so its not a big deal. Unless i knock some broad up , im all good. I was thinking of changing over to ing direct. The ygave you like 3.5 interest on there investing savings account. They have a calulator and if i put 10 k in the savings and invest $500 every 2 weeks. Id have 23 grand by end of next year. I think its close to a grand for interest or somthing id make.




^^^^^^^^^^^^^^^


IF the housing markets dont come down, i plan on moving back east some where. Like kingston or somthing. Where i can a huge down pay ment on a house and my payments will be like car payments...

 

[Rod Steel]

A lot of financial institutions now provide 100% financing for owner occupied homes. You should take that up. If you are in the lower mainland or several other Western Canadian centres, you just can't save fast enough to keep up with the price increases.

 

[Bexhock]

Investments

Well, if it was easy then everyone would be doing it successfully.

I have become hacked off with Mutual Funds because they have not performed well and have high management fees, typically about 2.5%. I now have all my long term investment (>5 years) in ETF's with most being large cap funds, high dividend funds or well performing sectors. Some can go into RSP's

http://www.efficientmarket.ca/article/Exchange_Traded_Funds

http://www.ishares.ca/index.do

However, I am 50 so my investment goals are different from that of a 20 year old. Under the 'Rule of 72', a 10% return on your holdings will double your money in 7.2 years. I attached a calculator to help understand how that works. I find it helpful to set some realistic timelines

http://www.moneychimp.com/features/rule72.htm

I'm not completely without risk and hold some Mutual Funds with potential high growth - BMO Resource is good at the moment.

My picks for investment in the next week (and yes I am buying myself) are

EZM - Zinc is the new silver (TSX)
VOX - Commuication ETF (Vanguard, US)
CCO - Cameco mining. Stocks went down due to flood. HUGE amount of uranium still in the ground.

I use RBC for my transactions

Hope this helps

 

[wolverine]

I was thinking of changing over to ing direct. The ygave you like 3.5 interest on there investing savings account. They have a calulator and if i put 10 k in the savings and invest $500 every 2 weeks. Id have 23 grand by end of next year. I think its close to a grand for interest or somthing id make.

Do it.

What they (ING) encourage you to do is transfer from your bank account a fixed amount every paycheque. So you can easily do the "pay yourself 10%" thing this way. It also serves as a handy emergency stash, although it takes them a couple of days to transfer funds back to your bank account.

Also, check out the GICs being offered by ING.

There's also Canada Savings Bonds, and now is the time when companies are offering them for payroll deductions. Although it's not a great investment, the interest rates are getting a bit better, so it's another nice alternative to a savings account. Only problem is that if you need to dip into those funds it takes about 4 days to tranfer to your bank account.

 

[mrtan]

No one can really tell you what your risk tolerance is but yourself.

However, if I were in your shoes, I would invest in real estate right away and not bother with the stock market. You would be amazed at what 10k can get you if you talk to the right mortgage broker. Your 10K in savings will not be able to keep up with the real estate market.

Just one warning: Big pay offs come with big risks.

Depending on what you are passionate about, you can make good $ in either choice. Some people just happen to know more about the real estate market than stocks.

If you do your homework and learn about real estate and get started now, it will be the best thing that has ever happened to your life. By 27, you will be laughing because your buddies will still be renting while you wake up to a nice condo in Coal Harbour overlooking the water (that you OWN) in addition to the other rental properties!

If anyone tells you you're too young to get into real estate, don't believe them.

Also, if you want to get into stocks, go deep (or go home) and learn about CAPM, betas, and all that fun stuff! There are so many investment options out there and can be quite addictive too!

Good luck and more importantly, have fun!

 

[HeMadeMeDoIt]

five times what you have to invest. Their priority is keeping your money in their pockets, not making money for you.

And thanks to RBC advice of sit and hold I lost about 12 times what you lost ! Fucking cocksucking maggots!

 

[SG4EVAH]

Serious investments require serious thoughts, and education to where you will put your money. My two cents, go see a financial advisor Good luck, and remember us when you get rich

 

[kalel]

what you need to understand is the higher the degree of safety the lower the rate of return - most likely. i don't dislike banks or mutual funds but i'd say they both suck and for the same reason - they make the banks and fund managers money NOT YOU! the whole concept of play it safe or diversify is basically cheating you out of the highest rate of return. there's a guy named michael lathigee who does financial investing seminars, he's pretty good at dispelling the myths and setting up high interest savings funds.

 

[visiting]

Here's a good site for comparisons purposes.




http://www.cannex.com/canada/english/

craig....... check your link!

 

[visiting]

Can't get it to open..... maybe it's only me....

 

[visiting]

Nope, nothing, Yet I do a google, and I see it, but can't get to it! Maybe the site is down, and you have it in your history, so that is why you see it, I will try later...

 

[SInCity67]

Wasnt expecting this many replys I opened a ING direct account yesterday. Im mailing a check to them today to activate my account. Im just gona put most of my cash in there investing savings account. Till i learn more about this stuff.


I just bought a book, called millionaire in 7 years. ANd this guy keeps on talking about how you should find savings account with 10 % interest. He said most banks will till you , you wont be able to find it. But he keeps on saying its out there You guys know any of these places