Okay, I had intended to sit down and learn investing last night after work. I was too mentally drained from the busy day to be able to focus on that, so I pushed it off till morning.
This morning I got up and took a stab at it . . . I was left frustrated and disappointed. It was a complicated interface and the only options open to me were: stocks, bonds and mutual funds. None of which I wanted to invest in at this moment.
I tried to find something simple and safe, like a 30 Day GIC that I could just add a bit to as I rolled it over each month . . . nope. Even figuring out how to buy anything was not there, so even if I saw a bond that seemed not too hideous, I couldn’t do that.
I really have neither the patience nor the extra cash to play in the markets. I just want something simple and safe. With all returns so stupidly low, there is no point to really shop around when the rates are below 1%.
I have already sent an email to the bank stating that I want to reverse this and close these accounts. I still want the RRSP and the TFSA, but in a more (alleged) “High Interest” Savings Account style.
For me, the RRSP is just something thrust on me that I see no purpose in. Perhaps if I had started years ago, it might interest me. Right now it is a trash can into which I have been guilted to throwing money into. Once it goes in, it ain’t yours anymore. Maybe when you turn 65 you can get a bit of it back, maybe.
I am looking to just save up cash until I decide to pay off loans. That’s it, keep the money safe until I can use it thanks.