Dollar cost average into a simple balanced mutual fund. Any one of the big banks' Monthly Income funds will work well for this purpose. Invest 1/4 of your money now, then in 4 months time invest another 1/4, repeat and repeat until the entire sum is invested. This way, no matter which direction the market goes, you will be participating. If it goes up, you have some money working for you; if it goes down, you still have money to invest to take advantage of lower prices. With the balanced fund, you are buying a selection of both stocks and bonds, so you will have exposure to whatever is doing well at the time. With a monthly income type fund, the monthly distributions allow you to reinvest in additional units on a monthly basis further smoothing out the average cost of all units owned over time. This will get you started, but before you move to anything more sophisticated than that, you will need to educate yourself on investing. A good place to start is www.shakesprimer.com
Deer In Headlights, Self Directed RRSP Help
So last year, I contributed about 15k into a self directed RRSP account. And when the market took the plunge, in fear, the account remained in cash. To this day, it still is in cash not earning anything or working for me. I'm just worried about investing, wondering if this is a M curved recession. Another stock market crash may be on the horizon after the stimulus money runs out.
I'm glad I found this site, I was just wondering if anyone could good me some advice on what to do with the money? Thank you.
PS. I am a beginner invester as well.
I'm glad I found this site, I was just wondering if anyone could good me some advice on what to do with the money? Thank you.
PS. I am a beginner invester as well.
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1 - 1 of 13 Posts
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