Q&A: Where to Invest
Q – I’m planning to invest $20,000 in to my RRSP. I’m 51 years old and a medium risk taker. I would like to invest it for next 7-10 year period. I was wondering if you can suggest what type of mutual fund product I can buy for this investment to get a better return. Also I’m interested in ETF funds. I know you are very busy but your advice regarding this will be highly appreciated. – Mustafa B.
A – Your best bet would be to choose a balanced fund with a history of above average results. Given your age, a fund in the Canadian Neutral Balanced category would be appropriate. There are many from which to choose. One that I particularly like, and own myself, is Fidelity Monthly Income Fund but I suggest you talk to a financial advisor before making a decision. – G.P.