OP you're asking all the right questions. Whatever you do, don't hand your money to someone else. DIY is really possible.
What would I do? Open cheap broker, not at a bank. Questrade or Interactive Brokers.
Load TFSA's first, then RSPs, then other. If possible to load all, then load RSPs first and use tax rebate to load TFSAs.
Where to invest? Debatable but look at the dividend aristocrats first. I love MCD. Don't be afraid of USD, learn to use Norbit's gambit. Growing dividends for the long term is the best long term winning strategy. I also don't believe you need to over diversify. For example, if you want Canadian banks, go with one (probably RY/TD if it really counts).
If you don't have time to research, and you are making a monthly deposit, each month, make your selection by first screening best performing by past month, year, 5 years. Outperformers outperform, generally.
Another way to go is just create a global balanced fund. Canadian couch potato gets you started there. New money goes to either underweighted or best performer.
Whatever you do DON"T TRADE OFTEN. You'll just make your broker richer.
What would I do? Open cheap broker, not at a bank. Questrade or Interactive Brokers.
Load TFSA's first, then RSPs, then other. If possible to load all, then load RSPs first and use tax rebate to load TFSAs.
Where to invest? Debatable but look at the dividend aristocrats first. I love MCD. Don't be afraid of USD, learn to use Norbit's gambit. Growing dividends for the long term is the best long term winning strategy. I also don't believe you need to over diversify. For example, if you want Canadian banks, go with one (probably RY/TD if it really counts).
If you don't have time to research, and you are making a monthly deposit, each month, make your selection by first screening best performing by past month, year, 5 years. Outperformers outperform, generally.
Another way to go is just create a global balanced fund. Canadian couch potato gets you started there. New money goes to either underweighted or best performer.
Whatever you do DON"T TRADE OFTEN. You'll just make your broker richer.
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