Thread: Stock Market
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Old 11-08-03, 02:12 AM   #7 (permalink)
Join Date: Mar-2003
Location: Ontario Canada
Age: 58
Posts: 1,485
Yeah, I'm in the markets..have been for years.
Rather than own stock direct you can buy mutual funds. You only lose if you sell. Although techs and science probably won't hit those highs again until after I'm retired.
Best advice, go into a good mutual fund with a long term history of few loss years...they are hard to find, and as any prospectus will tell you, past history is no guarantee of future unit prices...
keep diversified, Put some in cash vehicles like money markets and bonds, and some in the more volatile equites.
Dividend funds can both yield reasonable gains while posing fairly low risk
PH&N has some good funds, but you'll need 10k to get in.
Canadians should take advantage of RSP contribution room. It's one of the few leg ups the government gives us.
Maxing your RSP room will mean a healthy refund.
I constantly hear about young people having to pay the government. This makes no sense, and is avoidable..
Max your RSP to bring your taxable income to zero, pay yourself, and get a refund.
That money will only be taxable when you retire, and at that point your marginal rate will be much lower.
Uncle Roy
Herpetology - more than a hobby
It's a Lifestyle
celebrating 26 years of herp breeding

Last edited by Stockwell; 11-08-03 at 02:15 AM..
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