MidnightCayman

I am 19 years old and in my first year of university. I have a scholarship and am fortunate enough to have other costs covered by my parents who contributed to a scholarship trust plan when I was born. I have about $10k in savings from 7 summers of work sitting in a chequing account that earns 10 cents per month in interest. I am looking to invest this money now and earn some interest. I would like to hear what you guys think especially finance guys if you are out there. I have been told that BMO offers a GIC which invests in blue chip stocks and guarantee from 1.5%-3.0% annually. Are GICs the way to go? My timeframe would be say 10 years.


Thanks

fbgh2o

How much risk are you willing to tolerate? Does the capital have to be 100% protected? If not, I would be looking at strong dividend yielding stocks like BCE, Telus, AGF, one of the banks or the like.

Turbodan

buy Apple and Google 50% each
or buy the tsx index and in 10 years should do very well.
GICs are safe but do not even keep up with inflation rate.
another good investment is gold and silver (disclaimer;this is what I do for living)(physical bars)

SY6TTX50

+1, Yea you can get that return rate from high dividend yielding blue chips alone. Li Ka-Shing parked some of his money in CM & HSE, can't really go wrong with him. Btw, 19 years old with a Porsche is not bad at all.

Good luck,
Tim

Chimcu

Don't listen to Tim.. he lost $200K last year lol.. listen to me.. but the way I look at it..

I was told once by a wise man (not you Tim) .. If you cannot afford to lose that money then do not play the stock market.

SY6TTX50

fbgh2o

Agreed. I hold several indices and various yielding ETFs.

MidnightCayman

I would tolerate minimal risk but not too much as I am a full-time student and do not have an income.

If I were to purchase shares of Apple, Google, or Gold. Where do I go? My branch?

I will definitely take this into consideration Tim. I don't know what it is but I always believe in my people and I think Li Ka-Shing knows what he is doing.

I don't think I'm familiar enough with the stock market yet to play with it thats for sure. Hopefully I will have a better understanding after I take some 2nd and 3rd year courses. However, I am curious as to how to buy shares in a company and make the most out of the money I currently have.

Again Thanks to everyone for the welcomed advice!

Turbodan

to buy stock you go to your bank's security discount website ie td-tdwaterhouse and you can learn on their sites. you don't need to be an expert to make money in stocks. maybe pick up a book like wealthy barber to teach you a little. but basically if the company does well stock will go up, if does bad stock goes down. stocks go up if more buyers than sellers and down when more sellers than buyers.
and there is no such thing as a bad stock...just bad timing.

TurboS

and there is no such thing as a bad stock...just bad timing.[/QUOTE]

Tell that to all the people that lost their shirts "investing" in the stock market or mutual funds b/s.

Turbodan

Eshel they had good stocks and good funds just bought and sold at wrong time

TurboS

Like Nortel, and Bre X.

When did you grow Crystal Balz?

JimV8

If you have 10 G and thats it you certainly should be risk adverse. Given the the ten year frame why not park it into Canadian bank stocks, you'll do better than a GIC and probably earn a dividend too.

Topaz330ci

add about 4K and put it all on a down payment on a new condo! You can either flip it once it's built or rent it out with a tenant. You should make at least 20K off equity on the right move...

Real-estate is the way to go!

MikeB 81SC

CDN Bank stocks (TD is my fav)