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How do I start investing into this energy fund? (pg. 2)
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| rabbitjoker |
| quote: | Originally posted by Dancing*Queen
Hey RJ, is an energy fund investment something you can claim at the end of the yr like a RRSP? |
Stocks and mutual funds are either held within a registered (RSP) or non-registered accounts.
Non-registered accounts incur tax liability now, registered (RSP) accounts incur tax liability upon retirement. There is no limit on non-registered deposits/investments. Registered accounts are limited to your annual contribution limit (in addition to any unused contributions from years prior).
So - yes, one can hold an energy fund within your RSP. |
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| Swamper |
| quote: | Originally posted by rabbitjoker
They are volitile - so don't put money that one can't afford to loose into a energy or commodity fund.
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| quote: | Originally posted by rabbitjoker
Do not put money that you cannot afford to loose into medium-to-high risk investments.
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RJ you're one smart cookie but please think of the children - loose != lose
w00t! :p |
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| rabbitjoker |
| quote: | Originally posted by Swamper
loose != lose |
Ah, but when it comes to love - loose=lose. :eyes: |
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| StereoPrincess |
| what if you have an RSP GIC and want to move the money into mutual fund. should you wait for the RSP to mature for the year and then transfer or can you transfer right away and not be penalized? |
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| rabbitjoker |
| quote: | Originally posted by StereoPrincess
what if you have an RSP GIC and want to move the money into mutual fund. should you wait for the RSP to mature for the year and then transfer or can you transfer right away and not be penalized? |
A GIC is an investment (that can held within an RSP or outside of one).
Depending on the terms of the GIC (when distributions are paid, early redemption penalties, etc) it may be best to wait for the GIC to mature before cashing it in.
Once the GIC matures (or is redemed) you can use the procedes to buy any other investment (fund, stock, paper, etc). |
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| cap |
| quote: | Originally posted by StereoPrincess
what if you have an RSP GIC and want to move the money into mutual fund. should you wait for the RSP to mature for the year and then transfer or can you transfer right away and not be penalized? |
You can get your money out early, but usually there is a penalty. However, if you have an investment alternative that has a higher expected return, it may be worth it to cut your interest on the GIC and start "real" investing ;) You are younger... I would honestly allocate more of your portfolio to common stocks / mutual funds. Maybe 1 GIC to offset the risk of any speculative stocks you may like.
The problem with the energy fund is that just by merely understanding that gas prices are going up does not necessarily mean there is money to be made in the energy mutual fund. Remember, there are people who are paid lots of money on wall street to be on top of trends like this. If you are going to take an active approach to investing (as opposed to passive) - then you need to be of ahead trends.
For example, I am closely following the Nanotech industry.
Nanotechnology will have a bigger change than PC computers on the world.
Stereoprincess, if you are looking to becoming an informed / active investor I would suggest:
Taking the Candian securities course.
Afterwards, reading "The Intelligent Investor" by Benjamin Graham |
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| rabbitjoker |
| quote: | Originally posted by cap
Taking the Candian securities course.
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CSC and CPH were $1000 well spent.
https://www.csi.ca/ |
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| StereoPrincess |
i assume that the energy fund doesn't only include gas.
it's also investing in other forms of energy. i hope! |
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| Pettiscool |
| quote: | Originally posted by rabbitjoker
Ah, but when it comes to love - loose=lose. :eyes: |
:stongue: :haha: |
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| cap |
| quote: | Originally posted by StereoPrincess
i assume that the energy fund doesn't only include gas.
it's also investing in other forms of energy. i hope! |
One of the better mutual fund sites is "morningstar" - they have a user-friendly rating system and also go into detail about what exactly each fund invests in. |
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