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/biz/ - Business & Finance

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14116401 No.14116401 [Reply] [Original]

I have never invested before, so I set aside $1000. One financial advisor I talked to briefly suggested using Quest trade to put it into index ETFs, and that (generally) I should keep things 70% stock and 30% bonds.

What I want to know is, is it better to put that amount into a TFSA and then invest, or a savings account? I'm not planning on being that active with trading so something for mild passive income would be appreciated(rather than fucking it all up investing in dragon dildos on a whim). Please tell me what to avoid, and how not to be stupid doing this. $1k isn't all that much, but its a start.

>> No.14117345

>>14116401
If you have en employer who matches RRSP contributions put in the max theyll match and no more, then Tfsa until you've hit your contribution limit, then refocus on topping up your RRSP.

After that you decide if you want to start saving up for a house and liquidating positions or rent and open a non-sheltered brokerage account and put your forward capital there. Both good options.

Pay down any existing debt prior to any of this of course. And it's not a bad idea to keep 1-6 months of living expenses in a cash account. If not make sure you have a line of credit equal to as much and stress test your ability to pay the maximum withdrawal back.

Also if you're under 30 just go 100% stocks. You're still structurally short on the market.

Over 50 you want to be 55% bond (40% long 15% intermediate) 30% stocks, 7.5% gold (or other classical hedge), 7.5% commodities.

20 years between 30 and 50 you slowly reallocate until you're rebalanced.

>> No.14117363

>>14116401
Put it all into chainlink.

>> No.14117386
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14117386

>>14116401
>buying boomer instruments
Good luck making $4 a year in returns. Put it all into ChainLink.

>> No.14117655

>>14117363
Came here to post this

>> No.14117696

>>14116401
BUY TERRAX MINERALS FAGGIT<
I GOT INFO ON THAT SHIT
ALSO BUY XEBEC ITS ALREADY DOUBLED THIS MONTH AND WILL DOUBLE AGAIN SOON> INSIDERS BUYING LIEK MAD BRO