Give Me Back My Five Bucks

Currently browsing: emergency fund

Investments give me headaches

I’ve been wondering if I’m making sound choices with my investments. I want the most “bang for my buck,” but with limited investment knowledge, it’s hard for me to grasp exactly what I should be doing.

My emergency fund is currently in a PC Financial Interest First account that’s earning 3% interest. Once I have over $1000, I will transfer the balance into the Interest Plus account, which will earn me 4%, plus an anniversary bonus each year I keep a minimum of $1000 in the account. The reason why I chose this account is because it’s highly liquid. I’ll have access to my funds in 24 hours, and as high interest savings accounts go, PC Financial beats practically everyone.

My mortgage down payment fund is being held in a non-registered mutual fund with TD Canada Trust. This is where I don’t think I’m making the right move. The MER on this MF is quite high (I believe it was at 2.39%). I want to earn more than a 4% return, but since I plan on spending the money within 2 years, I don’t really know where to park it. I’m getting a 7.5% return right now, which is practically nothing. I’d like to be earning at least 10% … but how?

My RRSP is being held in a registered Balance Growth mutual fund with TD Canada Trust. It’s the same fund that my mortgage down payment fund is in, with the difference being this one is tax sheltered. This is earning 7.5%, and I’m okay with that for now. Once I’ve gotten more investment knowledge, I’d like to try TD’s eFunds, and manage my own financial portfolio (goodbye, ridiculously high MER!).

Page 8 of 8« First...«45678

Buy the Book!

A beginner's guide for Canadians looking to get their financial life in order. Get great info on budgeting and saving, RRSP's and pensions, investing types, insurance, and where to go for additional resources.

Recent Tweets

  • Tried to get away with just a 50L backpack for our bike/camp trip this weekend but have to pack tarps & rain gear just in case.
  • @Poochsmommy ... maybe one day we'll get an actual hockey pitch in Burnaby.
  • @Poochsmommy Are three really needed for Commonwealth Games??!

Instagram

  • Sushi date night! The rolls never turn out to behellip
  • Celebrated our two year anniversary today with a bike ridehellip
  • Home for the next 3 nights secretcampingspot
  • Took an hour yesterday to meal prep Seemed annoying athellip
  • Finally got to check Mt Harvey off the list! hellip
  • Rode our bikes over to Campbell Bay today for somehellip
  • No big deal just met bluejays legend Fred McGriff athellip
  • Good morning! mayneisland

© 2017. Give Me Back My Five Bucks. All rights reserved. Powered by WordPress & Designed by Mike Smith