Small Investment advice

[raxdax10]

Hi there im a 20 year student I have around 10000$ that I would like to invest but I'm not sure what I should do with it. I want to invest mostly long term ranging. from 3-20 years. I was thinking index mutual funds and some stocks. I want to make a lot of money hopefully double what I invested so duration is open for anything. I'm currently at rbc and thinking of opening a DI account but I also might apply to TD I don't know of the eseries is suitible for what I'm trying to do.

[matthook]

Screen some mutual funds with high dividend payouts. I'm 23 and currently own around the same amount as you, in 3 different mutual funds that pay monthly dividends of between 9-14% (annualized), and i have it set up to reinvest whatever dividends are paid.

I use TD and create my own screeners on their webbroker website, im sure RBC has the same type of screeners - one of my mutual funds is actually the RBC monthly income mutual fund

[rfdrfd]

My best advice: Get an education on investing. REAL one, not just from books. They teach you all the wrong things.

[Stryker]

Hi there im a 20 year student I have around 10000$ that I would like to invest but I'm not sure what I should do with it. I want to invest mostly long term ranging. from 3-20 years. I was thinking index mutual funds and some stocks. I want to make a lot of money hopefully double what I invested so duration is open for anything. I'm currently at rbc and thinking of opening a DI account but I also might apply to TD I don't know of the eseries is suitible for what I'm trying to do.

If you're interested in TD e-Series index funds, at TD Canada Trust you can set up a pre-authorized purchase plan (PPP) (http://www.tdcanadatrust.com/products-services/investing/mutual-funds/investment-options/help-eseriesfunds.jsp#ppp) for as little as $25 per fund on a regular basis.

[ccyk]

Hi there im a 20 year student I have around 10000$ that I would like to invest but I'm not sure what I should do with it. I want to invest mostly long term ranging. from 3-20 years. I was thinking index mutual funds and some stocks. I want to make a lot of money hopefully double what I invested so duration is open for anything. I'm currently at rbc and thinking of opening a DI account but I also might apply to TD I don't know of the eseries is suitible for what I'm trying to do.

if a double is all you ask for 20 years, go for high rate interest account/high yield bond fund. all you need is 3.5% per year to get it.

also be aware of mutual funds, they tend to payout return of capital in distribution to make it looks like high yield. return of capital is not income. it is not money earned by the fund.

[raxdax10]

if a double is all you ask for 20 years, go for high rate interest account/high yield bond fund. all you need is 3.5% per year to get it.

also be aware of mutual funds, they tend to payout return of capital in distribution to make it looks like high yield. return of capital is not income. it is not money earned by the fund.

well 2x is good but if i can get even more ill deff want to do that. I'm just curious do you think it is smart for me to invest at this age with $10000? Will i get good returns for investing such a small amount at this age?

[FunSave22]

Screen some mutual funds with high dividend payouts. I'm 23 and currently own around the same amount as you, in 3 different mutual funds that pay monthly dividends of between 9-14% (annualized), and i have it set up to reinvest whatever dividends are paid.

Are you sure you aren't making the same mistake rfdrfd is making and confusing distribution and dividend? Because those dividend yields seem extremely unlikely.


http://forums.redflagdeals.com/market-update-1195114/2/#post15094803

[FunSave22]

well 2x is good but if i can get even more ill deff want to do that. I'm just curious do you think it is smart for me to invest at this age with $10000? Will i get good returns for investing such a small amount at this age?
One of the first questions you need to ask is why you are investing?


Is it for retirement? Save for a home? Or some other reason?

Just investing without knowing why is never good. Only when you know why you are investing and if you should be investing, can you start to determine what the appropriate investments are.

[adeel]

Are you sure you aren't making the same mistake rfdrfd is making and confusing distribution and dividend? Because those dividend yields seem extremely unlikely.


http://forums.redflagdeals.com/market-update-1195114/2/#post15094803

thats what im wondering b/c i doubt any mutual fund is giving that kind of dividend yield

[raxdax10]

One of the first questions you need to ask is why you are investing?


Is it for retirement? Save for a home? Or some other reason?

Just investing without knowing why is never good. Only when you know why you are investing and if you should be investing, can you start to determine what the appropriate investments are.

I'm investing just to make more money

[ccyk]

also consider super oil majors stocks, low p/e and rather high yield dividend.

[raxdax10]

would buying telus bell or rogers stock be good for me?

[raxdax10]

I was also wondering whether i should stick with rbc my main bank or go to TD any suggestions?

[FunSave22]

I'm investing just to make more money
You need a better reason than that.

There's a huge difference between investing for 3 years and investing for 20 years. The length of time is going to have a large impact on your asset allocation and risk tolerance. So you need to figure out how long your are investing and that usually highly depends on why you are investing.

[boipinoi604]

I've been getting my investing education on books and on youtube, where do I get a REAL education on investing?

[ccyk]

You need a better reason than that.

There's a huge difference between investing for 3 years and investing for 20 years. The length of time is going to have a large impact on your asset allocation and risk tolerance. So you need to figure out how long your are investing and that usually highly depends on why you are investing.
i don't think so, thats a good enough reason and tell you how high risk he can take lol.

[Stryker]

I've been getting my investing education on books and on youtube, where do I get a REAL education on investing?

If you haven't already, you'll probably find "Where Are The Customers' Yachts"? worth a read. The book was published in 1940 by Fred Schwed who worked in the investment industry from 1927 right through the Great Depression of the 30's. The book's quite humorous and you'll slowly realize that things aren't all that different in the investment field today. A quote from the book.

"An out-of-town visitor was being shown the wonders of the New York financial district. When the party arrived at the Battery, one of his guides indicated some handsome ships riding at anchor. He said, 'Look, those are the banker's and brokers' yachts. Where are the customers' yachts?' asked the naive visitor."

Here's an article (http://www.forbes.com/sites/greatspeculations/2012/05/01/bill-millers-unglorious-end-points-out-dangers-of-running-with-the-crowd/2/) about Bill Miller who recently retired as a mutual fund manager in the U.S. Click on the photo and you'll get to see a nice blow up picture of his yacht "Utopia".