What to do with a small pot of money
Jun 25th 2015, 1:35 am
#1
Account Closed
Thread Starter
Joined: Jan 2015
Posts: 318
What to do with a small pot of money
Downpayment on a house? and pay off all future earnings to the mortgage? i.e. throw everything at it (Vancouver houses are blindingly expensive)
Put a downpayment and invest the rest (especially as interest rates are so low)? - keep at a regular mortgage payment schedule and try to beat the mortgage rate through investments.
Put it in stocks? And keep renting?
Buy an investment property and rent it (which areas? It seems like Vancouver and North/West Vancouver might have better tenants, rendering those properties out of reach - move out further?)
Put a downpayment and invest the rest (especially as interest rates are so low)? - keep at a regular mortgage payment schedule and try to beat the mortgage rate through investments.
Put it in stocks? And keep renting?
Buy an investment property and rent it (which areas? It seems like Vancouver and North/West Vancouver might have better tenants, rendering those properties out of reach - move out further?)
Jun 25th 2015, 3:55 am
#2
Dive Bar Drunk
Joined: Nov 2006
Location: Toronto
Posts: 8,649
Re: What to do with a small pot of money
Downpayment on a house? and pay off all future earnings to the mortgage? i.e. throw everything at it (Vancouver houses are blindingly expensive)
Put a downpayment and invest the rest (especially as interest rates are so low)? - keep at a regular mortgage payment schedule and try to beat the mortgage rate through investments.
Put it in stocks? And keep renting?
Buy an investment property and rent it (which areas? It seems like Vancouver and North/West Vancouver might have better tenants, rendering those properties out of reach - move out further?)
Put a downpayment and invest the rest (especially as interest rates are so low)? - keep at a regular mortgage payment schedule and try to beat the mortgage rate through investments.
Put it in stocks? And keep renting?
Buy an investment property and rent it (which areas? It seems like Vancouver and North/West Vancouver might have better tenants, rendering those properties out of reach - move out further?)
Jun 25th 2015, 9:03 am
#3
Yo
Joined: Nov 2012
Location: UK
Posts: 24,474
Re: What to do with a small pot of money
Depends on how small and your life stage. Not enough info.
Jun 25th 2015, 11:13 am
#4
Lost in BE Cyberspace
Joined: Nov 2011
Location: Somewhere between Vancouver & St Johns
Posts: 19,849
Re: What to do with a small pot of money
While figuring out what to do with it I have a bank account you could deposit it into until you figure it out
Jun 25th 2015, 3:40 pm
#6
BE Enthusiast
Joined: Sep 2006
Posts: 605
Re: What to do with a small pot of money
As Shard said not really enough info.
If your thinks of investing in realestate this is an interesting evidence based website
RossKay.com - Home
Generally diversification is always a good way to go after paying of any expensive debt and building up an emergency fund.
If your thinks of investing in realestate this is an interesting evidence based website
RossKay.com - Home
Generally diversification is always a good way to go after paying of any expensive debt and building up an emergency fund.
Jun 26th 2015, 11:59 am
#7
Dichotomus tinker
Joined: Aug 2013
Location: Ontario, Canada
Posts: 6,678
Re: What to do with a small pot of money
Put a downpayment and invest the rest (especially as interest rates are so low)? - keep at a regular mortgage payment schedule and try to beat the mortgage rate through investments.
Put it in stocks? And keep renting?
Buy an investment property and rent it (which areas? It seems like Vancouver and North/West Vancouver might have better tenants, rendering those properties out of reach - move out further?)
Make sure you screen the good paying tenants, take no crap & that the rent pays at least all the utilities & maybe some of the mortgage
says this old fella
.....
Jun 26th 2015, 12:34 pm
#8
Oscar nominated
Joined: Jan 2008
Location: Moncton, NB, CANADA
Posts: 50,821
Re: What to do with a small pot of money
Make sure you screen the good paying tenants...
Unless you have multiple places and build in the losses of unrented periods or you're just looking to get some rent occasionally, you might just have to accept the occasional loss that a problem brings.
Of course, if you're on site, as it were, it's easier to keep an eye (or ear) on things. You might notice that U-haul parked in the drive and the furniture being loaded up.
Jun 26th 2015, 1:36 pm
#9
Pictou County Superstar™
Joined: Sep 2007
Location: On top of the Green hill, NS
Posts: 4,219
Re: What to do with a small pot of money
Buy a fancy sports car and drive the hell out of Canada.
Jun 26th 2015, 4:25 pm
#10
Beep
Joined: Jan 2009
Location: Here
Posts: 8,311
Re: What to do with a small pot of money
Do you believe a balanced diversified portfolio is more risky than buying property in Vancouver at this time? If so, why 
Personally, I'd buy a few decent ETF's, REITS, and Preferreds that pay you around 3% to 6% a year in tax free (or minimal tax) income to own them and can be sold in a minute for about $9 if needed, putting them in a TFSA or RRSP if no TFSA room. I'd sit on the rest in cash within that TFSA or RRSP until later in the year before jumping in and buying a chunk of US and EU ETF's.
I'd rent for the next couple of years to see what happens.
My own opinion of course
Personally, I'd buy a few decent ETF's, REITS, and Preferreds that pay you around 3% to 6% a year in tax free (or minimal tax) income to own them and can be sold in a minute for about $9 if needed, putting them in a TFSA or RRSP if no TFSA room. I'd sit on the rest in cash within that TFSA or RRSP until later in the year before jumping in and buying a chunk of US and EU ETF's.
I'd rent for the next couple of years to see what happens.
My own opinion of course
Jun 26th 2015, 4:28 pm
#12
Lost in BE Cyberspace
Joined: Nov 2011
Location: Somewhere between Vancouver & St Johns
Posts: 19,849
Re: What to do with a small pot of money
Treat yourself to some decent cheese now you can afford it.
Jun 26th 2015, 6:14 pm
#13
Dichotomus tinker
Joined: Aug 2013
Location: Ontario, Canada
Posts: 6,678
Re: What to do with a small pot of money
Personally, I'd buy a few decent ETF's, REITS, and Preferreds that pay you around 3% to 6% a year in tax free (or minimal tax) income to own them and can be sold in a minute for about $9 if needed, putting them in a TFSA or RRSP if no TFSA room. I'd sit on the rest in cash within that TFSA or RRSP until later in the year before jumping in and buying a chunk of US and EU ETF's.
no guarantees, no guarantee on the preservation of capital & definitely not for the faint of heart eh!
we are talking simple investments & the likelyhood the OP (inexperienced at clever investing) will lose money, sleepless nights, dumb investment advisors & stockbrokers ....
I'd rent for the next couple of years to see what happens.
My own opinion of course
My own opinion of course
to each their own....
Jun 26th 2015, 6:16 pm
#14
Yo
Joined: Nov 2012
Location: UK
Posts: 24,474
Re: What to do with a small pot of money
bloody hell
no guarantees, no guarantee on the preservation of capital & definitely not for the faint of heart eh!
we are talking simple investments & the likelyhood the OP (inexperienced at clever investing) will lose money, sleepless nights, dumb investment advisors & stockbrokers ....
to each their own....
no guarantees, no guarantee on the preservation of capital & definitely not for the faint of heart eh!
we are talking simple investments & the likelyhood the OP (inexperienced at clever investing) will lose money, sleepless nights, dumb investment advisors & stockbrokers ....
to each their own....and more to the point, no leverage.
Jun 26th 2015, 6:17 pm
#15
Dichotomus tinker
Joined: Aug 2013
Location: Ontario, Canada
Posts: 6,678
Re: What to do with a small pot of money
Do you believe a balanced diversified portfolio is more risky than buying property in Vancouver at this time? If so, why
Personally, I'd buy a few decent ETF's, REITS, and Preferreds that pay you around 3% to 6% a year in tax free (or minimal tax) income to own them and can be sold in a minute for about $9 if needed, putting them in a TFSA or RRSP if no TFSA room. I'd sit on the rest in cash within that TFSA or RRSP until later in the year before jumping in and buying a chunk of US and EU ETF's.
I'd rent for the next couple of years to see what happens.
My own opinion of course
Personally, I'd buy a few decent ETF's, REITS, and Preferreds that pay you around 3% to 6% a year in tax free (or minimal tax) income to own them and can be sold in a minute for about $9 if needed, putting them in a TFSA or RRSP if no TFSA room. I'd sit on the rest in cash within that TFSA or RRSP until later in the year before jumping in and buying a chunk of US and EU ETF's.
I'd rent for the next couple of years to see what happens.
My own opinion of course
http://britishexpats.com/forum/trail...market-839010/