I've been doing a lot of reading lately as recommended when I first joined the board. I'm now feeling more overwhelmed about my options and I just need some more opinions please.
I have $800-$1,000 a month to invest/save, and I am now very confused as to where I should be putting it, what vehicles are good choices, etc. The money currently goes into my TFSA and RSP accounts, with the TFSA money ear marked as emergency funds/general savings.
What I was thinking my plan should be is that I should
1. Max out my TFSA
2. Find a better vehicle for my RSPs, but what?
3. Sign up for online trading, mostly likely a Cash account
I keep hearing all this discussion about Mutual Funds and MERs, and its just starting to get to be too much.
So in your opinion what should I be doing with this money each month to maximize its long term value? I'm savings for retirement, to build wealth, and to maintain my emergency fund.
I have $800-$1,000 a month to invest/save, and I am now very confused as to where I should be putting it, what vehicles are good choices, etc. The money currently goes into my TFSA and RSP accounts, with the TFSA money ear marked as emergency funds/general savings.
What I was thinking my plan should be is that I should
1. Max out my TFSA
2. Find a better vehicle for my RSPs, but what?
3. Sign up for online trading, mostly likely a Cash account
I keep hearing all this discussion about Mutual Funds and MERs, and its just starting to get to be too much.
So in your opinion what should I be doing with this money each month to maximize its long term value? I'm savings for retirement, to build wealth, and to maintain my emergency fund.