Hi all,
I'm a Canadian just getting started in investing, and I have a lot of money in two savings accounts and one managed investment portfolio that I want to put into passive investing. I'm 22, and I want to put every spare penny towards early retirement planning. I have no debt. I've opened an RSP with Tangerine's Equity Growth portfolio, and I'll deposit the full 18% of 2015's income (about $4700). I'll also open a TFSA. I turned 18 in 2010, so I can invest $36000 through that.
The 'problem' is that I have about $49000 to play with here. Even after I do all that and reserve a few thousand for an emergency fund, I have about $9000 that could be compounding somewhere. I just don't know what my options are! Are there any more tax shelters I could take advantage of? Should I just open a non-registered discount brokerage account and pick a broad allocation of ETFs? I know I'm in a good position, but I don't have the experience to know how to take full advantage of it. Any advice would be very appreciated.