quote:

Originally posted by DigiNut That's only for locked-in RRSPs, I don't think every RRSP is locked-in. But that is generally true, yes.

AFAIK they are. Registered Retirement savings plan. You can change the investments within your RRSP without penalty, but if you withdraw money before you are 65 you have to pay substantial penalties on the gains.

___________________
"It's mercifully over. But a new phenomenon has taken hold. I recognize it: feelings. Now that they're back, even overcompensating, I never want to lose them again. Bitterness, anger, jealousy, sadness: They all make me happy."

I know playing the stock market is not a good way to save money but has anyone or anyone you know play/ed the stock market with any success?

Does anyone know of any good investment sites out there?

___________________
Life should NOT be a journey to the grave with the intention of arriving safely in an attractive and well preserved body, but rather to skid in sideways, champagne in one hand strawberries in the other, body thoroughly used up totally worn out and screaming "WOO HOO- What a Ride!" Unknown

quote:

Originally posted by KKEFKA I know playing the stock market is not a good way to save money but has anyone or anyone you know play/ed the stock market with any success? Does anyone know of any good investment sites out there?

Hehe, "playing the stock market" to me has the ring of gambling... which only a few people are able to prosper from.

The stock market is one of the best investment vehicles (outperforming bonds) if used correctly.

Just setup your investment philosophy, which depends on your age, future monetary goals, risk tolerance, etc.

For example, if you are a single 20 year old male with money to invest, the stock market is probably a better bet than bonds. However, bonds should still account for 20% of your portfolio, because bonds balance out the ups and downs of your stock purchases, and are more readily converted into cash than stocks in case of emergency.

As for sites, I use:

Globeinvestor.ca
Morningstar.ca
and a few IPO sites.

Not too mention, I read Fortune magazine and I find it is great for staying on top of investment trends, for exmaple ETFs.

Ask RJ....he knows.......

HIS RBC energy fund is goin UP UP UP!!!

but on a sidenote.....

If we could harness JAYS energy from when he dances like a mofo.....and translate that shit into an energy based fund/stock

That energy fund would hit opening day like Google!!!

TRIPLE DIGITS !!!!

___________________
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quote:

Originally posted by cap Hehe, "playing the stock market" to me has the ring of gambling... which only a few people are able to prosper from. The stock market is one of the best investment vehicles (outperforming bonds) if used correctly. Just setup your investment philosophy, which depends on your age, future monetary goals, risk tolerance, etc. For example, if you are a single 20 year old male with money to invest, the stock market is probably a better bet than bonds. However, bonds should still account for 20% of your portfolio, because bonds balance out the ups and downs of your stock purchases, and are more readily converted into cash than stocks in case of emergency.

Exactly, if you are "playing" the market, you haven't done your homework and probably will lose money.

I would have to say that 20% bonds is a little too much for me, my portfolio contains aout 6% bonds right now. Just depends on the level of risk you are willing to take. Different strokes for different folks, but having some bonds to balance your portfolio is usually a good idea.

And yes Jay, I've made about a 50% return over the two years i've had a portfolio. If I had invested in energy I probably would have closer to 100%+ growth, but I tend not to invest in such volatile sectors (at least at this point in time).

___________________
"It's mercifully over. But a new phenomenon has taken hold. I recognize it: feelings. Now that they're back, even overcompensating, I never want to lose them again. Bitterness, anger, jealousy, sadness: They all make me happy."

quote:

Originally posted by AwakenedAddict AFAIK they are. Registered Retirement savings plan. You can change the investments within your RRSP without penalty, but if you withdraw money before you are 65 you have to pay substantial penalties on the gains.

"Locked-in" RRSPs are generally known as LIRAs (Locked-In Retirement Accounts). Some provinces just called them locked-in RRSPs, but never without the "locked-in" qualifier. Whether or not an RRSP is locked in depends on the specific account.

Even if an RRSP is locked in, it can often still be collapsed before it fully matures - for instance, by converting to a LIF, LRIF, etc. And there are different types of RRSPs that are specifically meant for regular withdrawals, like the Home Buyer's Plan and the Lifelong Learning Plan (for paying tuition and such).

The bottom line is that any money you withdraw from an RRSP is taxable income, and I believe it is taxed up front when you withdraw the money. That's the penalty - but it still applies whether you are 65 or 35. The only way not to pay the tax penalty is to convert it to a fund as I mentioned above. The only other regulation I'm aware of is that they *have* to be collapsed or converted by a certain age, which I think is 70 in the USA and 80 in Canada.

My brother-in-law had an RRSP here and moved to the U.S. last year, so he collapsed it in order to transfer the money to an American account, and he was only 30 at the time.

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Yea, my investments are in the states... so I think we are comparing apples to oranges. Point taken.

___________________
"It's mercifully over. But a new phenomenon has taken hold. I recognize it: feelings. Now that they're back, even overcompensating, I never want to lose them again. Bitterness, anger, jealousy, sadness: They all make me happy."

quote:

Originally posted by naesean3 Ask RJ....he knows....... HIS RBC energy fund is goin UP UP UP!!! but on a sidenote..... If we could harness JAYS energy from when he dances like a mofo.....and translate that shit into an energy based fund/stock That energy fund would hit opening day like Google!!! TRIPLE DIGITS !!!!

your to funny man

Thanks everyone for your sound advice it’s been very helpful. Thanks Cap for those sites.

___________________
Life should NOT be a journey to the grave with the intention of arriving safely in an attractive and well preserved body, but rather to skid in sideways, champagne in one hand strawberries in the other, body thoroughly used up totally worn out and screaming "WOO HOO- What a Ride!" Unknown

quote:

Originally posted by AwakenedAddict I would have to say that 20% bonds is a little too much for me, my portfolio contains aout 6% bonds right now.

yeah, sometimes a complete 100% stock portfolio is optimal. however, i usually follow the philosophies of ben graham and warren buffett, who generally keep bonds around 20% depending on variables such as inflation and interest.