Where or with whom would you put $15k if you had it to invest?

[lucy16076]

Well the good old government agency that I work for just paid out our severance, so I'm now on a mission to find the best RRSP spot for it. I have $15k to invest....any suggestions?? The only stipulation is that it be put into an RRSP as I didn't have grad taken off at source. I have 15 yrs left until retirement with a DBP.

[blueeyetea]

Go with index funds a la Canadian Couch Potato. Go at TD and open an RRSP mutual funds account and invest it in e-funds, which you can buy online. The set-up might be a bit of a pain, but once it is, it doesn't get any easier than this. You only have to periodically look at your account to balance things out - once or twice a year.

[lucy16076]

Thank you Blueeyetea....my thoughts were the same but this is intimidating to me...first time investing on my own! Yikes! Will read & educate myself some more!!

[canadascouponeer]

Blueeyedtea nailed it. I was going to post the exact same suggestion

[Brooke_]

BMO's Investorline is amazing for self directed investments. They'll even give you a practice code to try it out before you invest. I love it.

[blueeyetea]

Thank you Blueeyetea....my thoughts were the same but this is intimidating to me...first time investing on my own! Yikes! Will read & educate myself some more!!

If you want to learn more on index fund investing, get yourself the book "the Millionnaire Teacher" who explains how it works. The author is Canadian.

The thing about the TD e-series - it's easy to continue to add to your savings with amounts as little as $25.

[lucy16076]

I have read the Millionaire Teacher! Perhaps I should read it again! I have also read "The Millionaire Next Door" twice now & will read it again....all this finance stuff is bound to sink in eventually!
I decided to go with my Tangerine Equity Funds account within in RSP. I don't have a TD bank account & it seemed like a bit of a pain to go ahead & open one for this effort. Tangerine offers my funds for a 1.07% MER, which is yes more than TD, but I don't have to rebalance, or worry about it too much year to year.

[alicia]

Yeah, a lot of people "poo poo" the Tangerine funds, but honestly they're really good. Are they as good as the DIY Canadian Couch Potato method? Nope. But as you said they re-balance themselves, and the "Balanced" one is 40/20/20/20 just like CCP. And even he says that Tangerine funds are good. It's a matter of "the best option" and a medium option. The MER of 1.07% is better than a lot of the other mutual funds out there.