I need a financial advisor!

Serotonin · #1 (**permalink**) Jul 30, 07

right away!

Serotonin · #2 (**permalink**) Jul 30, 07

hoping that someone on this site has the right credentials.
I need some investment advice

Carrie · #3 (**permalink**) Jul 30, 07

how about going to your bank and talking to someone there?

Pussy*Kat · #4 (**permalink**) Jul 30, 07

My mom is a financial advisor but she lives in Victoria. Let me know if you want her number or something.

Most likely youll find someone on here though :)

dabbler · #5 (**permalink**) Jul 30, 07

did you win the lottery or something?

Serotonin · #6 (**permalink**) Jul 30, 07

Quote:

Originally Posted by dabbler

did you win the lottery or something?

Actually the opposite i just jumped into a higher tax bracket and i am astounded as to what i am now paying in taxes fuck man $1500 off each cheque is not a walk in the park if you ask me. Thank you for the responses Jay and everyone else. I was beginning to wonder if i still had any contacts on this site anymore.

Serotonin · #7 (**permalink**) Jul 30, 07

Quote:

Originally Posted by Carrie

how about going to your bank and talking to someone there?

Me and the scotiabank have not been able to get over our irreparable differences i sense a break up looming.

Serotonin · #8 (**permalink**) Jul 30, 07

Quote:

Originally Posted by Pussy*Kat

My mom is a financial advisor but she lives in Victoria. Let me know if you want her number or something.

Most likely youll find someone on here though :)

Thank you for the reply.

laska · #9 (**permalink**) Jul 30, 07

here's my advice: should have bought stocks in LLL yesterday, went up 30% ! Not expensive either!

Carrie · #10 (**permalink**) Jul 30, 07

try other banks?

like TD waterhouse?

there are tons of places to talk to someone.. usually a consult is free

#11 (**permalink**) Jul 30, 07

too bad i'm not yet a financial advisor, but i could recommend

#12 (**permalink**) Jul 30, 07

Quote:

Originally Posted by laska

here's my advice: should have bought stocks in LLL yesterday, went up 30% ! Not expensive either!

fantastic advice :|

Pete, this is my advice.

I am currently with CIBC. This past year, I started throwing money into my investment portfolio. In the past, I used to take out RRSP loans, but I wanted to throw more money into my RRSP's based on the same reason as you, I was in a higher tax bracket.

I threw two lump sum payments a month into my portfolio. It was split up 4 ways, one medium risk account, and 3 high risk. I recently changed my structure, but I made just over $700 in 6 months. I considered that playing it safe.

CIBC has a great system and fantastic support. And at anytime, you are able to change your investments, and they keep their website updated vigilantly.

Only_Glory · #13 (**permalink**) Jul 31, 07

do you have more than one job? what occupation is it and who do you work for?

dabbler · #14 (**permalink**) Jul 31, 07

you make $7500 a cheque?!??!

Serotonin · #15 (**permalink**) Jul 31, 07

Quote:

Originally Posted by Avana

fantastic advice :|

Pete, this is my advice.

I am currently with CIBC. This past year, I started throwing money into my investment portfolio. In the past, I used to take out RRSP loans, but I wanted to throw more money into my RRSP's based on the same reason as you, I was in a higher tax bracket.

I threw two lump sum payments a month into my portfolio. It was split up 4 ways, one medium risk account, and 3 high risk. I recently changed my structure, but I made just over $700 in 6 months. I considered that playing it safe.

CIBC has a great system and fantastic support. And at anytime, you are able to change your investments, and they keep their website updated vigilantly.

That was extremely helpful Avana just the direction i want to go.
kindest regards! =)

Serotonin · #16 (**permalink**) Jul 31, 07

Quote:

Originally Posted by alla

too bad i'm not yet a financial advisor, but i could recommend

I am always open to more suggestions.

Serotonin · #17 (**permalink**) Jul 31, 07

Quote:

Originally Posted by Only_Glory

do you have more than one job? what occupation is it and who do you work for?

Distribution sales for Extreme cctv

Serotonin · #18 (**permalink**) Jul 31, 07

Quote:

Originally Posted by dabbler

you make $7500 a cheque?!??!

No actually I quoted my entire deductions including cpp and all that jazz. I work like an animal. In retrospect i shouldn't be posting my income as i don't want to sound like a knob. Afterall i am a product of New Westminster.

thanks for the advice appointment made with CIBC. =)

#19 (**permalink**) Jul 31, 07

Pour the majority of your contribution into the money market account. It has had solid growth over the past few years. It is a consistent gainer and is medium risk.

My 3 high risk accounts were fuel, gold/silver and high tech.

They will warn you against these. I am a gambler so I don't mind having my money at risk. They say that you should keep your money in high risk for a longer period of time, to ensure you balance out with lows and highs.

Investing is a personal thing, if you can handle watching the fluctuations, follow my lead. If you can't, then stay medium risk.

I like the big gain I made. I hate making money slowly.

The benefit is, as long as you don't take out any of the the money, it counts as an rrsp deduction and you get that sweet sweet tax break at the end of the year.