I'm saving money for a big downpayment on some property which I'm not
going to buy for a few years. So far, I've got $10,000. I'd like to
put this money into something where the chances of me losing any amount
of the money is minimal. I'm thinking of putting it in a GIC, but my
cousin says I should put it in a "money market" fund. So,
1) What is a "Money Market" fund?
2) Are there other kinds of funds that have the same minimal chance of
loss?
3) Which companies are good for this sort of thing? Altamira? CIBC?
Primerica?
4) What does "load" and "no-load" mean?
5) How much does it cost to purchase the fund units? How much does it
cost to sell the fund units?
6) How can I invest in such a way that I don't pay anything, such as
fees like a maintence fee or a transaction fee? Note: If I put the money in a GIC, I pay for nothing and lose nothing.
7) What are some good sites for looking at the performance charts of
mutual funds?
going to buy for a few years. So far, I've got $10,000. I'd like to
put this money into something where the chances of me losing any amount
of the money is minimal. I'm thinking of putting it in a GIC, but my
cousin says I should put it in a "money market" fund. So,
1) What is a "Money Market" fund?
2) Are there other kinds of funds that have the same minimal chance of
loss?
3) Which companies are good for this sort of thing? Altamira? CIBC?
Primerica?
4) What does "load" and "no-load" mean?
5) How much does it cost to purchase the fund units? How much does it
cost to sell the fund units?
6) How can I invest in such a way that I don't pay anything, such as
fees like a maintence fee or a transaction fee? Note: If I put the money in a GIC, I pay for nothing and lose nothing.
7) What are some good sites for looking at the performance charts of
mutual funds?