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help in investing
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| Spyder |
i need to put some money away.. for the next 3 years min 5 years max... but every year i have to take a small portion out so i can pay for school..
does anyone have any idea what i could do? |
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| Atho |
Hmm usually when investing 3-5 years you can't take the money out.
Try ING Direct, they'll give you 2.4 % (3% until the end of the year) compunded monthly and you can withdraw/deposit on anytime for no fees. |
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| rabbitjoker |
If you cannot afford any loss on princple - you can get higher interest/return (compared to ING) via buying a number of GICs/CDs, with various terms (6 month, 1 year, 2 year, 3 year,etc).
Figure out how much you need at the end of 6 months, put it in a 6 month GIC.
Figure out how much you need at the end of year 1, put it in a 1 year GIC.
(repeat) |
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| Vivid Boy |
| just give me ur money. i promise to have it to u back with 5.5% intrest in coke |
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| Vivid Boy |
| quote: | Originally posted by Vivid Boy
just give me ur money. i promise to have it to u back with 5.5% intrest in coke |
hell if ud like ill even sell that 5.5% worth of coke
disclaimer: for all u rumour peeps who love drama, im in no way conected and/or involved with the abuse or selling of cocaine. this is merely a joke while im drunk., however the use of alchol and this thread has made me yearn for a line so im just going to crush up codeine i got yearsago and do lnes of those while i drink alchol.
disclaimer part 2: it ill just call my dealer..mmm coke... |
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| DigiNut |
Depending on how much you have to invest, you could put it into a dividend fund and use the dividend to pay for school. Most of the brokers consider those to be "low risk".
Otherwise, I'd tend to agree with RJ. |
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| MLB |
I'd Suggest GIC, you can invest as little as a 1000$ so have a look at a few banks and see what they have to offer you.
Look at their maturity dates when you can cash it, and what terms they offer you. |
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| St_Andrew |
How big risks are you willing to take?
If you are willing to take a risk, I would go for funds in countries like, Poland (just got a new right wing government, their economy will grow a lot in the next few years), India (huge potential, a lot more so than china imo), and perhaps China or some other Asian or east european country. You might get an awesome rate of return there, and you might lose some money. My advice would be to a put some of the money in high risks funds, and some in some rather safe ones. |
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| ghetto_fab |
| I would say open an RRSP and keep putting money in it. you will get a taxe break and when you cash it they only take 10% of it. so you really wont lose any more when they take the 10% because you will get more than enough through tax returns |
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| DigiNut |
| quote: | Originally posted by ghetto_fab
I would say open an RRSP and keep putting money in it. you will get a taxe break and when you cash it they only take 10% of it. so you really wont lose any more when they take the 10% because you will get more than enough through tax returns |
RRSPs are great, but you still have to choose where to invest the money. (Personally I'd stay the hell away from a non-self-directed RRSP)
| quote: | Originally posted by niveole
Real Estate |
Great if you have a couple hundred grand to invest ;) |
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| cono_sur |
| quote: | Originally posted by rabbitjoker
If you cannot afford any loss on princple - you can get higher interest/return (compared to ING) via buying a number of GICs/CDs, with various terms (6 month, 1 year, 2 year, 3 year,etc).
Figure out how much you need at the end of 6 months, put it in a 6 month GIC.
Figure out how much you need at the end of year 1, put it in a 1 year GIC.
(repeat) |
What he said. |
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