Hello i am a 22 year old student with around $12,000 in all with zero debt. I will begin working in 2010 around sept or november hopefully.
Here my Strategy
1. Open a margin Account with Questtrade.
2. Put $5,000 into the account borrow $5000 on margin(3.75%).
I was thinking of mostly investing in ETFs because of the diversification and low maintenance fees.
maybe $5,000 into an Canadian ETF and $5,000 into an ETF that mirrors the Broad Chinese market.
I am aware of the dangers of margin accounts and have enough in my other account to easily cover any margin calls.
My question to all you other investors out there is what do you think of this plan? My time horizon for this investment is 5-8 years.
P.S.
These are some of the Canadian ETF's i've been considering.
iShares CDN LargeCap 60 Index
iShares CDN Composite Index Fund
iShares CDN Dividend Index
iShares CDN Value Index
This is my first post on this forum
Here my Strategy
1. Open a margin Account with Questtrade.
2. Put $5,000 into the account borrow $5000 on margin(3.75%).
I was thinking of mostly investing in ETFs because of the diversification and low maintenance fees.
maybe $5,000 into an Canadian ETF and $5,000 into an ETF that mirrors the Broad Chinese market.
I am aware of the dangers of margin accounts and have enough in my other account to easily cover any margin calls.
My question to all you other investors out there is what do you think of this plan? My time horizon for this investment is 5-8 years.
P.S.
These are some of the Canadian ETF's i've been considering.
iShares CDN LargeCap 60 Index
iShares CDN Composite Index Fund
iShares CDN Dividend Index
iShares CDN Value Index
This is my first post on this forum