I am 16 years old and I am a senior in high school. I currently have 5,000 CAD to invest with. My dad has already setup an account with my bank (CIBC) in order to have my portfolio in order to invest my money. I am given many portfolio options but I want to focus on a portfolio that is not risky. I have this option with US Index funds and on average 7% annual interest. I want to be able to graduate University (around 9,000 CAD per term, 4 terms so around 36,000) with little to no debt. I will be applying for a part time job for 10.75 (student wage) an hour for around 20 hours a week and will hopefully be doing this for the next 5 years (and work full time during the summer) till I graduate from university. I have little to no expenses, I will be living with my parents at home during university so no rent or food expenses. I will have to pay 0 dollars but be able to make money during my part time job. I want know how much I should invest into my portfolio every month while I am working, I will have around 700 dollars (after taxes) every month from working part time. Should I invest it all into my portfolio?Make an emergency fund? What should I do with my money and the other money I will make in the future.
Submitted September 15, 2017 at 08:13PM by Stoicism42 http://ift.tt/2f2eLR0
