I am someone who is quite risk adverse. I'd like to be able to get over that though to grow my money a little bit more.
In the past, I've had GICs and high interest savings accounts and that was about it. I had certain reasons though, besides my aversion to risk, such as wanting my money readily available at certain times due to unknowns about where I'd be in life.
Now, I've opened a fairly conservative mutual fund. I have some money that has to be put into a TFSA or RRSP. It's not much, and I'm considering putting it into a fairly risky mutual fund.
Is this a good idea, or am I just setting myself up for further risk avoidance if it doesn't perform well?
In the past, I've had GICs and high interest savings accounts and that was about it. I had certain reasons though, besides my aversion to risk, such as wanting my money readily available at certain times due to unknowns about where I'd be in life.
Now, I've opened a fairly conservative mutual fund. I have some money that has to be put into a TFSA or RRSP. It's not much, and I'm considering putting it into a fairly risky mutual fund.
Is this a good idea, or am I just setting myself up for further risk avoidance if it doesn't perform well?