Monday, 18 January 2016

Stocks, Bonds, GIC’s, Oh MY!

Okay, so either I didn’t quite understand what the Banker was saying or he didn’t understand exactly what I wanted. What I ended up with was being turned loose on the money markets to play with my money. 

My RRSP and my TFSA are both “Market Investment Accounts.” What this means, is that I can do what I want with them. It is up to me to choose and invest my money in any one of a wide variety of investment vehicles. 

This is a far cry from the “Stuff it in a high interest savings account and forget about it” concept that I had when I opened these accounts . . . and this can of worms. 

I have a bit of time to figure out what to do with the Long Term Savings end of things. As far as the RRSP goes, I will look into some sort of GIC, bond or something else nice and safe for that bonus I received. I will have to look into something that I can put my planned $50.00 per paycheque into. 

All in all, this means more learning, reading and researching on stuff that I never had any inclination to learn about in the first place. Oh well, I’m in it now, so I might as well make the best of it. . . . Oops, I’m an investor.

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