For my 21st birthday my Uncle opened a bank acounnt in my name with $500 on a mutual fund investment (tax-free).
Im really noob at investment, but at least I have $500 to play with. Do people just leave money on the mutual savings or is there some tricks I have to learn?
Like I said, he literally just gave it to me to get my feet wet.
For reference this is the name of portfolio: https://www.tdassetmanagement.com/fundDetails.form?fundId=6321&lang=en
Please help,
confused investor.
>>1032474
500$ can only bring something if you go into penny stocks, for everything else it is to miniscule.
>>1032488
I thought so.. So best I should leave it running here, and check back in maybe 5 years?
>>1032490
it is not a fund that will outperform, if your uncle put 500$ in it in 2015 you've got 6,50$ out of it.
you can use it in a compound interest manner and everything you earn and can spare you put into that fund. with time if we say ideally your fund will have 5% average yearly performance and you put 5000$ in it every year, you will have 29 000$ in 5 years.
>>1032474
$500 is nothing.
You can add to the fund, but as of now it will never earn you anything, or take the money out and spend it on a business investment.
Like a cleaning company for ex.
>>1032520
I dont mind putting in 500$ into it every month. Basically its like a savings account with a chance to lose/gain with "balanced" risk?
I dont mind not touching the money in 5-10 years. I just want to set it and forget it, and add into it every month.
>>1032528
>but as of now it will never earn you anything
Why not? Even in 5 years?
I am willing to invest $500 into it every month
>>1032529
then do it, risk is not something you should really worry when looking at your fund, unless something major happens to Canada.
>>1032528
>$500 is nothing
I literally started with $500 and almost got to $3000 in two years just by longing and shorting (esp shorting) big cap/mid cap. it was some sort of day trading tho
$500 is the same as $0. Is how much you *regularly* put in that will boost your gains through compound interest.
>>1032570
>$500 is the same as $0
Is this a meme?
I will make gains but small. So yes, I will be putting into it
Everyone in this thread is fucking retarded. $500 isn't anything spectacular, but you can grow an account with it pretty quickly if you're smart and use options.
Also, your money is in a mutual fund meaning you have no access to it, because it's in a fucking fund. Just let it sit and grow. You're obviously too retarded to trade stocks anyway.
>>1032529
Do a calculation. Basic compound interest.
The DJIA is outperforming it for the previous 3 years. And keep in mind in 2005 only half of fund managers beat the S&P.
Find out what risk/return you want. if its totally disposable go for it
>>1032474
>moderate long-term capital growth
The fund objective is right in their in the description OP.
You don't play with the $500. Just leave it alone and it will slowly grow by itself, or add in more money and it will grow slightly faster.
