A little about me first. Im 32, live in Canada, work a steady full time job (i bring home around 1500 bi-weekly), dont have any debt, good credit score which i think was about 771 last time i checked about 4 months ago. Only monthly payments i have are rent, phone bill, utilities, car and home insurance, as well as food and entertainment etc. I do not have an SO or any dependents.
I generally do pretty well and can live comfortably. However, I am pretty sick of working so hard for my money and think its long past due that my money start working for me. I just opened a TFSA (tax free savings account) this year and put 1000 in there just to start, but im completely unsure what to do with that. I opened my TFSA with TD canada trust, but a friend of mine suggested questrade as apparently their fees for trading are lower (and i cant find any details about costs to trade from TD for whatever reason). Honestly I find it all kind of confusing.
I would love to have my own place, but i feel like that might be too much of a stretch for me right now. A house is a big investment and i dont think i have enough savings for that right now, and have no idea how long that might take to get there.
I want to make some longer term, low risk investments, but I think im mainly scared to take the risk. The money I have represents my life savings til now and id hate to lose it.
What would some of you recommend as a good course of action to get things rolling?
Submitted July 05, 2017 at 10:27PM by mrfossy http://ift.tt/2tKVVXj
