My portfolio (any suggestions???)

[champion_qh]

I've graduated from school three years ago and currently working full time currently. My girl friend is coming from Germany to stay with me soon. Hopefull she will bring some $$ (>20K). We're planing to buy a condo in 3-4 yrs and save enough $$ for retirement. I'm not a high risk person. I want to my $$ having a mix of income and growth. My portfolio:

1. US$15,000 in ING US saving account.......don't know what to do with it??


2. $20,000 in PC interest plus saving account (think about moving to CT hight interest saving, 5.5%)


3. $7,300 RRSP allowance for two years. I want to spend all by Feb 29th.

1) I bought $1,500 high risk mutual funds with HSBC (chinese equity and Bric equity) by friend's recommendation
2) I'm thinking about buy $1000 ING streetwise balance funds (got $25 bonus)
3) For the rest of RRSP $$, I'm looking for a mix of income and growth investment, thinking about TD market growth GIC (3 yrs) or TD waterhouse (but TD charges $105/yr of admin fee for RRSP account :mad: )....haven't decide yet


Any better way to invest my US$?? TD GIC vs. waterhouse?? Any input is much appreciated :!: :-0

[Impossibles]

Why wait 3-4 years to buy a condo? Prices in metro vancouver will keep going up during that time.

[champion_qh]

when it gonna drop? I think no one really knows the real estate market after 3-4 years. I just estimated after 3-4 years we will be ready.

Why wait 3-4 years to buy a condo? Prices in metro vancouver will keep going up during that time.

[asdfvcx]

1. US$15,000 in ING US saving account.......don't know what to do with it??
Is this money meant for the down payment or retirement? No one knows what the US dollar is going to do, so if it is for the condo, you'll just have to guess when the best time to convert it is.


1) I bought $1,500 high risk mutual funds with HSBC (chinese equity and Bric equity) by friend's recommendation
Ummm... like you say these are rather high risk. You don't sound like someone who has enough investment knowledge to be holding something high risk like this on their own.

2) I'm thinking about buy $1000 ING streetwise balance funds (got $25 bonus)
Is it really worth the hassle of having 3 different RRSPs just to get a free $25.

3) For the rest of RRSP $$, I'm looking for a mix of income and growth investment, thinking about TD market growth GIC (3 yrs) or TD waterhouse (but TD charges $105/yr of admin fee for RRSP account :mad: )....haven't decide yet
Market linked GICs are in general horrible investments. And why do you feel you need a Waterhouse RRSP account? You can open up a normal RRSP with TD, hold GICs and mutual funds, and not pay any fees.

Any better way to invest my US$?? TD GIC vs. waterhouse?? Any input is much appreciated :!: :-0
Maybe I'm wrong and I don't mean to be rude, but you don't appear to know what you are doing. There's nothing wrong with getting some help. You might want to talk to a bank advisor. If you can't see one before the 29th, then just open up a RRSP online with the bank of your choice and place the money in a money market fund (similar to a savings account). Then make an appointment to see an advisor in March.

[brunes]

1. US$15,000 in ING US saving account.......don't know what to do with it??

...

3. $7,300 RRSP allowance for two years. I want to spend all by Feb 29th.

...

Any better way to invest my US$?? TD GIC vs. waterhouse?? Any input is much appreciated :!: :-0

Questrade now allows you to hold USD in your RRSP so this might be a good way to kill two birds with one stone - you could put ~ 7,300 USD in your RRSP, use it to buy some US index-based ETF funds. This way you will save around $200+ in conversion fees for this money. You can take the CDN you would have put in the RRSP and keep it high interest savings or a GIC for the down payment.

when it gonna drop? I think no one really knows the real estate market after 3-4 years. I just estimated after 3-4 years we will be ready.

If any of us knew in advance when the real estate market would rise and fall, we wouldn't be posting it on this forum :)

[BillyParadise]

Maybe I'm wrong and I don't mean to be rude, but you don't appear to know what you are doing. There's nothing wrong with getting some help. You might want to talk to a bank advisor. If you can't see one before the 29th, then just open up a RRSP online with the bank of your choice and place the money in a money market fund (similar to a savings account). Then make an appointment to see an advisor in March.

Agreed, except for the bank advisor part. Get an independent financial advisor. Not one that's linked to a bank, trust company, insurance company, or whatever. They only sell what their bank sells, which are invariably not the best funds.

Look for the CFP designation. I've got a great one here in Ontario, sorry dont know anyone out west.

[Thalo]

Agreed, except for the bank advisor part. Get an independent financial advisor. Not one that's linked to a bank, trust company, insurance company, or whatever. They only sell what their bank sells, which are invariably not the best funds.



Not true, at least as far as those advisors with a bank's investment house (RBC Dominion, TD Waterhouse, CIBC Wood Gundy, etc). The OP doesn't have enough assets to be with one of those advisors anyway, but a bank advisor can at least offer free advice and I know for a fact there are at least some advisors at banks with CFP designations.