Quote:
Originally Posted by bdub
Start with this quick read, "The wealthy barber 2". It will get you thinking about the basics, how TFSA, RRSP's work, compounding, diversification, taxes etc., in simple terms. After that there are tons of resources.
If you just want to dump your money with an "advisor" at the bank or elsewhere you are going to end up paying a huge portion of your return to the advisor/bank in fees over the course of your investing horizon. If you are getting great advice that pays for the extra cost of fees then it may be worth it. But you are going to find it difficult to find great advice unless you have a fairly large sum to invest. Most of these guys at the banks etc are clueless to be kind. They are just salespeople that group you into a risk profile and dump you into a set mix of high cost mutual funds based on your profile.(I apologize if I offend any advisors.)
You can 100% successfully invest on your own. Educate your self. When you are ready to get going with real money start off with a mix of broad asset classes in a handful of low cost ETF's and go from there IMHO.
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Great info, thanks.
I don't think the house prices hit the bottom yet IMHO and feel like I have enough money stuck in my own house so I don't want to put more money in real estate, rather try to divide it into different assets.
What services are you guys using for investing? (Banks, online traders...)
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