What would be the best investment for me?

Question

I am making on average about $20-25k a month right now and have no idea where to put my money. I have RRSP's, GIC's, Mutual Funds, I am at work so often right now if i was to buy a house i i would be there maybe 3days a month. truck is paid off and i have all the toys i want. any suggestions?

Answer 1

BTGNow says it all - fee only financial planner.  good luck, and congrats on the income!

Answer 2

You need to speak to a fee only financial planner.Yahoo! Answers is a great place for ideas, but your situation requires the advice of an expert if you want to try to avoid costly mistakes.

Fee only financial planners do not profit from selling you

financial products, and as such are able to offer independent advice tailored to YOUR situation.

The financial planner will ask you questions about your current financial situation, as well as your hopes and dreams for the future. This may include buying/paying off a home, investing for retirement (and they can advise you as to WHERE to put your money!), or saving for a rainy day.

You especailly need professional advice because you wuold not spend much time in your home: you should therefore discuss it as if you were buying it as an investment (and as we've seen, real estate CAN go up, or down!)

Good luck!