Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Discussing Investments
(2017-01-16, 12:47 AM)TheNumber13 Wrote: My company started an RRSP thing with Sun Life Financial. Do you guys get involved in the whole RRSP gig?

At your age? Dear lord, yes - if your company does a matching contribution, take full advantage of it. It's as close to free money as you'll ever get.
Thanks given by:
(2017-01-16, 05:56 AM)Stevie_Y Wrote:
(2017-01-12, 08:03 AM)art_vandelay Wrote:
(2017-01-12, 07:58 AM)PaliSENS Wrote: Here's another question, I have a friend who works there and I can buy pre-IPO shares through him. Can I do that through my TFSA?

Sent from my HTC One_M8 using Tapatalk

I've never bought pre-IPO shares but in theory you should be able to.  You would need to coordinate the funds through your bank to the company selling the pre-IPO opportunity.

A TFSA is just another type of bank account which can be used to buy a whole basket of different things (I think it's possible to buy a house through a TFSA).

I believe this to be correct which would explain why the interest rate is so incredibly low and in my opinion not really a great way to make money grow. the interest rate on my TFSA is 0.8%. How is anyone supposed to build wealth with that sort of return? I need to figure out where else to put this money.

This is why a lot of people have been forced to take risk in the stock market (savings plans have been punished by low interest rates for quite a while now).  

People are looking for (and generally need) a decent return on their investment to realize their financial goals.  It's tough to retire comfortably off of wages alone.
Thanks given by:

Forum Jump:

Users browsing this thread: 1 Guest(s)