types
philosophies and things to consider
- bogleheads investing
- responsible investing
- importance of compound interest
- value investing
- land ownership = best long term investment?
tips
- diversify your portfolio
- mix of short term emergency cash (e.g. Tax Free Savings account), long term equity (e.g. index funds) and some low risk long term stuff, just in case (e.g. money market fund or bonds)
- tax free savings account (TFSA) and registered retirement savings plan (RRSP)
- while waiting to invest, keep money in it while figuring out how/where to invest
- Max out the TFSA first and let it grow all year. When the end of the year comes around take a big chunk of it out and contribute it to your RRSP (in the very same investment it was in to begin with if you like). This way you get an income tax credit on income that was never taxed to begin with, and then you can use the bonus refund to help fund the TFSA again in January.
- Contribute your $5000 to your TFSA every year. This is the easiest way to reduce your taxes on income, allows you to trade stocks within the account (free of tax) and lets you withdraw at any time should you require (although if you do that, you can't re-invest it until the next calendar year). http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/tfsa-celi/wthdrwls-eng.html
- consider not investing and using money as down payment on something
- Contribute to your RRSPs in full if you can every year to prevent taxes.
- education=investment
industries/companies to consider
resources
- investing daily energy sector
success stories
jun 9 2011 ∞
aug 4 2011 +
aug 4 2011 +