Investing

Advice for a person using IG, who wants to learn more

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  • Jul 14th, 2015 2:05 pm
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[OP]
Member
User avatar
Jul 11, 2015
347 posts
170 upvotes
Victoria, BC

Advice for a person using IG, who wants to learn more

I was looking for people to point me to some really good sources, or give me advice on what i should invest my time and money in to maximize my money's future growth.

So I am 28 and have been investing in mutual funds through Investors Group for the past 3 years, my current investment ratio is a 60%/40% split between: Investors income plus portfolio(low risk)/Allegro Aggressive Portfolio(medium risk).
I'm not really planning on buying any real estate any time soon as I still haven't found the dream career that will keep me in the same location for a long enough time to make that kind of commitment. Im doing the max contribution to tfsa and have some money in RRSP's and the rest in a non reserve, as this is what i have been advised to do.

I'm making monthly contributions of 1k and my current holdings are about 80k now(obviously I made additional payments and didn't start the account at zero) overall I'd say I'm making ~4% per year.

I make about 2.8k a month: i pay $800 rent, and about $300-500 a month on everything else. So i am putting about 1k a month into the investments and the rest is building up in my savings for a nice safety net.

I really want to know how much better i could be doing if start investing more time in learning how to do this stuff myself, because from what I have read so far is I'm probably paying too much in MER's. so maybe Tangerine or ETF's might be a better option.

If you could give me ideas of how much reading and research i will need to do and time i would need to invest to maintain different types of investment strategies that would be ideal as well. For instance ETF re balancing, and what tools i would need to use to do this successfully.

Or perhaps what i am doing is the best option, please let me know.
5 replies
Deal Addict
User avatar
Aug 1, 2007
1479 posts
246 upvotes
IG funds are typically near the high end for fees plus there are often extra load or deferred sales charge fees tacked on depending on holding periods. Review what some other options might be - this forum had loads of suggestions
Deal Addict
Aug 13, 2008
3361 posts
402 upvotes
Mississauga
here are some starting points to help you transition out of Investor's Group (which I highly recommend you do once you've learnt a few basics of DIY investing):

start by reading up on canadian couch potato, and then go over the blogs that i've listed below. the ones with the red dots are the ones I personally think you should start with.
[IMG]http://i.imgur.com/KH4rPWB.jpg[/IMG]

the topics that you should look for on these blogs are:
- index investing
- canadian couch potato
- tfsa vs. rrsp debate
[OP]
Member
User avatar
Jul 11, 2015
347 posts
170 upvotes
Victoria, BC
mbk.2k3 wrote: here are some starting points to help you transition out of Investor's Group (which I highly recommend you do once you've learnt a few basics of DIY investing):

start by reading up on canadian couch potato, and then go over the blogs that i've listed below. the ones with the red dots are the ones I personally think you should start with.
[IMG]http://i.imgur.com/KH4rPWB.jpg[/IMG]

the topics that you should look for on these blogs are:
- index investing
- canadian couch potato
- tfsa vs. rrsp debate
thanks mbk, this is more or less what was looking for. I have been checking out other threads on this forum, But I was mostly hoping for someone to point me in the right direction so I could read as much relevant information to my current situation. Im not saying i don't need the irrelevant information, and Im sure there's lots of future knowledge to come. But sometimes i find myself reading people arguing and it gets a bit tiring when your looking for the facts.

I definitely will be checking these out. I came across the couch potato from other threads. It seems to be in the right area of what i was looking for. I will definitely check out your suggestions.

looks like the consensus suggests i should be moving on from IG very soon.
Deal Addict
Oct 1, 2006
2566 posts
3009 upvotes
Montreal
Yes, I also think you should move away from IG. These high fees may cost you hundred thousands of dollars over the long-term.
http://www.michaeljamesonmoney.com/2009 ... tures.html

http://canadiancouchpotato.com/ will teach you everything you need to know about investing or buy the Moneysense guide to the perfect portfolio

http://www.moneysense.ca/uncategorized/ ... rtfolio-2/

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