How should i invest $5000?

[timonwong]

I have never done this before so I need suggestions.

[NewBieDoobie]

I agree with the Ivory Actuary...

In the end, do something with it that you want to do...Be careful not to be too influenced in your final decision as to what you need to do with your money...

My sister is a financial advisor, my fiancee's father is a senior financial advisor and my Uncle is one as well...Even with all that, in the end, I need to educate and empower myself as to what I need to do with the money. You should do the same.

[angel_wing0]

try a tfsa for now.

[brockster]

I've always wanted to say this, and waited to become a full member at RFD. I suggest, with my full heart and head to invest it all in:

PUMPKIN FUTURES!

[angel_wing0]

I've always wanted to say this, and waited to become a full member at RFD. I suggest, with my full heart and head to invest it all in:

PUMPKIN FUTURES!

..huh?

[timonwong]

try a tfsa for now.

what bank is best to start one?

[urameatball]

what bank is best to start one?

urameatball's bank of good faith and good times.

[rpeatt]

I've always wanted to say this, and waited to become a full member at RFD. I suggest, with my full heart and head to invest it all in:

PUMPKIN FUTURES!

My guess is they'll peak around November 15th!!

[angel_wing0]

what bank is best to start one?

i would say td's cashable GIC...with interest rates so low now no pt in locking your money or put in low interest rate accounts.

[seatiger778]

Casino Baccarat

[budfrogs]

It depends what this money is for.

Long term investing? - may want to think about mutual funds although you need to learn before doing this. Finding a financial adviser that is willing to help teach you would help with this or some books.
Short-term savings? - Cashable GIC/high interest savings account/People's Trust/Money market
Emergency fund? - high interest savings account/People's trust/Money market

If it is for retirement you may want to put it under the RRSP umbrella or the TFSA umbrella.

If it isn't for retirement you may want to also put it under the TFSA umbrella. Many banks have "high" interest savings accounts or GICs that qualify for TFSA.

Other questions to ask yourself:
How fast do you want to be able to access the money?
What happens if it goes down 20% how freaked out will you be?

A safe non-committed choice would be to put it in a TFSA of either a cashable GIC or a high interest rate savings account. This would give you a lot of flexibility to do something else with it once you know what you want to do in the long run. Just make sure you read on the fees of the TFSA accounts you are looking at related to transfers and withdrawals. As someone else found out TD's high interest savings account has a $5 withdrawal fee. With it account paying so little interest the $5 SUCKS.

[King of Clones]

Proctor and Gamble has given steady returns over 30 years. Good dividends, good way to learn the market

[AirBosh]

NYSE:FAS Direxion Financial Bull 3X Shares
NYSE:FAZ Direxion Financial Bear 3X Shares

Triple or Nothing ETF funds. It's like gamblin with most Bull/Bear ETFs ...

[Thalo]

I've always wanted to say this, and waited to become a full member at RFD. I suggest, with my full heart and head to invest it all in:

PUMPKIN FUTURES!

I disagree. Although it is good to get in early before the seasonal October rally, pumpkins are a discretionary expense and thus, with the recession most definitely lasting past October, I think pumpkins will be in oversupply this year.

[P1x44r]

As someone else found out TD's high interest savings account has a $5 withdrawal fee. With it account paying so little interest the $5 SUCKS.

Whoa, really? Can you point me to the original thread please?

Thanks!