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A great way to invest, diversify, and potentially earn higher returns
A mutual fund is a group of different investments like stocks, bonds, and other types of funds. When you buy a mutual fund, you’re pooling your money together with other investors. This makes it easier for you get into the market and diversify without paying big bucks to buy individual investments. Mutual funds are managed by professionals, so you don’t need to worry about buying and selling individual investments on your own.
You can buy mutual funds in a regular, non-registered investment account, or include them as part of your RRSP or TFSA.
You don’t need lots of money to start investing in mutual funds. An initial investment of $500, or $25 per month, is all you need to start growing your money. How easy is that?
First off, mutual funds aren't guaranteed, but they have the potential to earn more than savings accounts or GICs. Plus, they’re professionally managed.
By pooling money from lots of investors, the mutual fund can buy a variety of different investments. This helps offset risk - if one investment performs poorly, another might do well.
With savings accounts and GICs you earn interest. With mutual funds, you earn money based on the types of assets in the fund. These assets could generate dividends, interest, or capital gains/losses. While your principal (the amount you initially invest) isn’t guaranteed and returns can vary, mutual funds can typically result in more growth over the longer term.
Making mutual funds a part of your investment plan is a great way to grow your savings.
Tip: Regular investing can help you stay on track. Set up regular automatic payments, like $25, $50, or $100 per month, to grow your money!
What is a pre-authorized contribution plan?