I came into 11k and have no idea what to do!
Hey guys, I am really in need of some help here.
I am 19 and have no real experience in investing or saving large amounts of money. This is the story of how I came to aquire the money.
The first ~6k of the money is in an account that my parents have been putting money into since I was born. It is a CIBC Wood Gundy Investment account. All I have is the paper with the current balance on it, it says that Jan 30 2009 it was worth 5,430 and on June 4th its now worth 5,900. On the side of the statement is the U.S exchange rate. So I am assuming that its fluxuating because of the current market conditions? I have no clue as I am used to fixed interest bank accounts.
The second amount is just a 5000 dollar check made out from my dad. He gave it to me under the direction of my late grandmother who gave my dad 5k to give to me when I was going to move out.
There are alot of things I can do with the money, but Id rather invest it or get some kind of high rate fixed savings account.
You people know alot more about this stuff than I do, so Im all ears. Thanks in advance for all your advice.
I am 19 and have no real experience in investing or saving large amounts of money. This is the story of how I came to aquire the money.
The first ~6k of the money is in an account that my parents have been putting money into since I was born. It is a CIBC Wood Gundy Investment account. All I have is the paper with the current balance on it, it says that Jan 30 2009 it was worth 5,430 and on June 4th its now worth 5,900. On the side of the statement is the U.S exchange rate. So I am assuming that its fluxuating because of the current market conditions? I have no clue as I am used to fixed interest bank accounts.
The second amount is just a 5000 dollar check made out from my dad. He gave it to me under the direction of my late grandmother who gave my dad 5k to give to me when I was going to move out.
There are alot of things I can do with the money, but Id rather invest it or get some kind of high rate fixed savings account.
You people know alot more about this stuff than I do, so Im all ears. Thanks in advance for all your advice.