Question:

Hi Brad,

I'm a recent University Graduate, who is still paying off a big debt load. I want to start investing (I have no investments of any kind right now unless you count an education). The problem is, I don't have much money to work with so I want to get the biggest bang for my buck. I'm thinking of long-term prosperity, so what are my best options? Mutual Funds? RRSP's? Equities? I'm not averse to risk, but don't want to take to much of a gamble.

Thanks

Brian

Answer:

Hello Brian,

Thank you for e-mailing me, I apologize for not getting back to you sooner.
When you are looking at starting to invest the most important thing to do is set goals. Example: saving for retirement or saving for major purchase. These two goals would normally have completely different approaches in acheiving them, consequently you would use different investment vehicles.
It is also important to know your comfort zone and stay within that range, a professional advisor can help you with identifying the key areas to concentrate on.
Finally saving taxes is extremely important when considering investing, taxes will be the biggest expense you will incur throughout your working career. RRSP's are a great vehicle to put your money into to minimize your taxes.

Brad Cross
W)723-7200
e-mail:brad.cross@investorsgroup.com

Answered By: Brad Cross

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