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hey! good site
March 10, 2023
8:31 pm
vic
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Hi,
I was doing my own research on best savings accounts and GICs, starting from wikipedia "banking in canada" , then the list of banks and credit unions,
and then somehow found this site.
It's going to be my time saver in the future 🙂
So thank you for existing

I'm also interested in investments like mutual funds and beyond, gradually starting out...

March 11, 2023
5:30 am
Nehpets
Ontario
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Welcome to the Forum! Hope you find the info you need, and offer your own feedback and insights.

Stephen

March 11, 2023
5:57 am
savemoresaveoften
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Welcome Vic !

March 11, 2023
9:56 am
Dean
Valhalla Mountains, British Columbia
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vic said

Hi,

. . .  

Welcome to the club, Vic ❗

Stick around, participate, and take notes.

You've come to a Great Place ... there's a 'Lot' to be learned here. sf-smile

    Dean

sf-cool " Live Long, Healthy ... And Prosper! " sf-cool

March 11, 2023
12:29 pm
toto
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thats how i found this site 15 years ago too, its been my bible ever since.
Welcome Vic!

March 11, 2023
12:44 pm
Loonie
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Welcome, Vic.. I have literally saved at least tens of thousands of dollars extra based on info here, quite possibly more.

March 23, 2023
1:51 pm
vic
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thanks all for welcoming 🙂

Dean said

You've come to a Great Place ... there's a 'Lot' to be learned here. sf-smile

    Dean

  

I guess that would be in the forums of this site

March 23, 2023
2:19 pm
Dean
Valhalla Mountains, British Columbia
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.
True that , Vic.

There's a lot to be learned in the forums here, as we have a fairly good collection knowledgeable people here.

But then of course (like most interweb forums), we do have the odd member who's Full O' Poop. sf-wink

Stick around for a while, and you'll soon figure out who's who.

Cheers,

    Dean

sf-cool " Live Long, Healthy ... And Prosper! " sf-cool

March 24, 2023
3:17 am
Nirvana7734
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vic said
Hi,
I was doing my own research on best savings accounts and GICs, starting from wikipedia "banking in canada" , then the list of banks and credit unions,
and then somehow found this site.
It's going to be my time saver in the future 🙂
So thank you for existing

I'm also interested in investments like mutual funds and beyond, gradually starting out...  

Welcome, Vic! I also began my investing by starting in mutual funds, but if I could do it all over again I definitely would have skipped that step and saved myself money on management expense ratios (i.e., fees) by doing self-directed investing. If you would like to know more, I would be happy to provide more information. A great site for beginner investors is http://www.canadiancouchpotato.com. Having said that, I am 100% out of the stock market as of May 2022, and I would not recommend getting into it for AT LEAST the next few months.

But, I digress. Once again, welcome!

March 25, 2023
7:21 pm
Dean
Valhalla Mountains, British Columbia
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.
What Nirvana7734 said (Post #9), Vic.

I also dabbled in Mutual Funds a Long time ago, before I woke-up and educated myself about Stock Investing & GIC's.

It's a rather long & steep learning curve ('especially' with stocks), but it's Well Worth the time & effort ... and it can pay off in Spades

No offence meant to anyone here, but IMHO Mutual Funds are for Couch Potatoes, with low expectations.

My Two Centavos,

    Dean

sf-cool " Live Long, Healthy ... And Prosper! " sf-cool

March 26, 2023
5:21 am
savemoresaveoften
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Dean said
No offence meant to anyone here, but IMHO Mutual Funds are for Couch Potatoes, with low expectations.

My Two Centavos,

    Dean

  

Mutual funds make people rich, namely the fund managers and the firm that offers it, the list stops there.
>90% of mutual funds lag market performance in the long run, that tells u something.
I got rid of all my mutual holdings when ETF became a thing, 20years ago or a little longer. The money saved on just the annual MER and fees over the years is just a very very very big number.
One type of mutual fund worth looking at right now are the money market mutual funds, most are yielding mid 4-low 5% yield at the moment. Thats a good alternative to logging into GIC for liquidity / flexibility purpose. Be mindful some discount brokers like RBC charge u a hefty transaction fee on any mutual funds, and potential min. hold period too.

The ultimate couch potato is the one that uses a financial advisor, who in turn put the money into a mutual fund and call it professional investment advicesf-surprised

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