Hello All
I have been reading this Personal Finance forum for a couple weeks now, and have found some of the information to be excellent. I am comfortable asking my question and seeing what kind of objective info comes to light.
The scenario is this: In 4 months my daughter will be done daycare, freeing up approx $1000 / month. My wife and I are going to be using some of that money to "loosen" up the monthly finances. We don't have a cc balance worth worrying about. I am looking at having approx $500-$700 / month to invest, split in some way between TFSA/RESP/RRSP. For arguments sake...lets assume none of these have been started or contributed too. We both have defined ben pentions.
My dilema is this: I work for a US brokerage (but live in Canada). I am Series 7 & 63 licensed, and have been doing a lot of personal finance reading. I am fairly confident that I can put together a "Couch Potato" style portfollio and do some dollar cost averaging in Index ETF's and perhaps after diversifing there, start some good div paying cdn stocks (DRIPS etc...). I feel like I can be un-emotional and take the long view...and be prerpared for the bumps in the road along the way IE: volatility.
My wife and I recently met with an Investment Advisor who works solely in MF's. He has been around the block, and to this point has helped us with our monthly finances and paying down our high int debt. We like and trust him. He wants to manage our money in a well diversified mutual fund portfollio.
I'm torn. I don't have a lot of spare time. But think that a couch potato port is some work upfront, and then re-balancing quartlery, annually...whatever.
Or I can have a hands off appraoch...let someone do the work for me...all the while thinking I'm getting torched by high MER's.
I'd love to hear your take...
I have been reading this Personal Finance forum for a couple weeks now, and have found some of the information to be excellent. I am comfortable asking my question and seeing what kind of objective info comes to light.
The scenario is this: In 4 months my daughter will be done daycare, freeing up approx $1000 / month. My wife and I are going to be using some of that money to "loosen" up the monthly finances. We don't have a cc balance worth worrying about. I am looking at having approx $500-$700 / month to invest, split in some way between TFSA/RESP/RRSP. For arguments sake...lets assume none of these have been started or contributed too. We both have defined ben pentions.
My dilema is this: I work for a US brokerage (but live in Canada). I am Series 7 & 63 licensed, and have been doing a lot of personal finance reading. I am fairly confident that I can put together a "Couch Potato" style portfollio and do some dollar cost averaging in Index ETF's and perhaps after diversifing there, start some good div paying cdn stocks (DRIPS etc...). I feel like I can be un-emotional and take the long view...and be prerpared for the bumps in the road along the way IE: volatility.
My wife and I recently met with an Investment Advisor who works solely in MF's. He has been around the block, and to this point has helped us with our monthly finances and paying down our high int debt. We like and trust him. He wants to manage our money in a well diversified mutual fund portfollio.
I'm torn. I don't have a lot of spare time. But think that a couch potato port is some work upfront, and then re-balancing quartlery, annually...whatever.
Or I can have a hands off appraoch...let someone do the work for me...all the while thinking I'm getting torched by high MER's.
I'd love to hear your take...