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.
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.
