20k Complete Newbie
 

I'll have 20k in my savings by the end of the summer. 14k is in GIC's, but the interest is so poor. I'm a complete newbie to investing... Any idea as to where I should invest my money?

Thanks

Re: 20k Complete Newbie
 

[ QUOTE ]
I'll have 20k in my savings by the end of the summer. 14k is in GIC's, but the interest is so poor. I'm a complete newbie to investing... Any idea as to where I should invest my money ?

Thanks

[/ QUOTE ]

I would start with about 5-10(or more) investing books in the type of investing that interests you.

Re: 20k Complete Newbie
 

READ READ READ...put everything in something safe until you find what you like/feel like you're ready to invest in.

Re: 20k Complete Newbie
 

which books do you recommend?

Re: 20k Complete Newbie
 

Try to make a Roth IRA contribution if you are eligable and have earned income. The maximum amount you can contribute is 4K. Once you contribute money to a Roth IRA the money grows tax free and is not taxed when withdrawn at retirement age.

Re: 20k Complete Newbie
 

theres a big thread on "The Intelligent Investor" and its a great book so far.

Put ur money in something safe like a online savings account take the time to read up and then start investing wisely

Re: 20k Complete Newbie
 

Okay, I forgot to mention that I live in Canada does that change much?