Hi folks. I am committing to this type of savings strategy that I plan on using as a supplement to my pension when I retire. I'm currently 32, but this plan may go until 55 or 60.
I was thinking of making purchases once my reached ~$1,000 of cash in my brokerage account. I know that it might not be ideal to have funds sitting for over 6 weeks before purchasing equities, but I wanted to reduce trade commissions (currently $7.95 CDN a trade).
I was going to invest across a few different sectors after doing some research, as I haven't been in the market for a while. I understand that funds can be bought regularly without trade commissions, but I'm not sure whether I want any fees taking their long-term tolls on my returns.
My risk tolerance is high, but I will be keeping approx. 30% of my investment in fixed-income vehicles (and follow the old "carry whatever your age is as a percentage of fixed income" as a half-assed way to manage some risk and re-balance as I go).
Additional info: I have ~$30K in RRSP contribution room, at least that in my TFSA, and my current marginal tax rate is 33.25%.
Any advice would be great!
Submitted June 18, 2017 at 10:31AM by mcki0068 http://ift.tt/2rJL372
