No fund!

A week ago I invested in mutual funds for the first time in my life and I'm already regretting it.

9 Comments

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You do not...

Mar 3, 2021 at 7:45pm

... tend to buy mutual funds on a 2 week horizon. Good luck! Remember, never invest what you cannot afford to lose.

9 2Rating: +7

Frank Costanza

Mar 3, 2021 at 8:44pm

These things take time...relax...and like what the other comment said: don’t put in more than you can afford to lose...

4 1Rating: +3

Me too!

Mar 3, 2021 at 10:04pm

I bought mine years ago, but I didn't put them in an rrsp or a tfsa. The money they make just rolls over and gets re-invested into the funds and I end up paying the taxes owing on the profits which comes out of my chequing account and it ends up costing me money out of my pocket. It certainly looks good on paper but it doesn't put beer in the fridge. And when I eventually sell the funds the profits will come across as capital gains and I'll end up paying more taxes and my income will rise and it will cheat me out any government benefits I would otherwise be intitled to. What a mistake. I wish I had bought bank or railway shares or telecommunications stock instead.

5 5Rating: 0

Anonymous

Mar 4, 2021 at 6:17am

They are all scams.
Did you need to do this so you didnt have to pay any income tax this year ?
Still scams all of them.
Invisable money.
Im sure the bank was very happy.

7 5Rating: +2

Mutual Funds

Mar 4, 2021 at 4:24pm

Are a waste of time. they're more concerned with getting fees out of you and attracting more clients than actual performance.
Learn how to trade the markets and/or buy dividend stocks- and with dividend stocks you can earn up to $50k...tax free.

4 3Rating: +1

@Anonymous

Mar 4, 2021 at 4:43pm

They are and they aren't.

Term deposits are more secure but inflation eats.

IMO real estate is best, but even that, you can be in a position where you can't pay.

Ultimately, security, securitas in Latin means carefree/carelessness, and that is undesirable and/or fake. We all have cares unless we are dead.

I would say that calling the stock market a scam (casino is more accurate) is entirely true, but what do we do in alternative? My grandmother bought term deposits and ironed her aluminum foil...

But as for all stocks being ripoffs, I recently saw a chart (is it true? who knows) that said if you had invested in the S&P 500 index as best you were able, over the last 50 yaers it made > 8% a year on average. Of course, not every year, so maybe your 10-20 year window wouldn't have been as good, but my question is, these mutual funds that underperform the S&P 500, what is the target market?

From the one time I went with mom to the "financial advisor," the clients were exclusively little old ladies investing father's pension money with no capacity to even bother to research.

I ask my mom to read her statements from her advisor and it's "too much work." I can only imagine what it is like being a boomer, must be a hell of a drug to have so much money you literally dont care about it.

3 4Rating: -1

@ @Anonymous

Mar 5, 2021 at 2:40pm

Funny you state this "with no capacity to even bother to research", yet claim the markets are a casino, obviously with no research.
There are non directional,seasonal trades you can make that win 95% of the time.
Plus the other post about dividend stocks and taxes is dead on.

2 1Rating: +1

Like the shearers say to the lambs

Mar 6, 2021 at 8:22pm

Stay still. The person that sold you, there’s a commission, the fund managers there’s a commission, the brokerage firm that trades, there’s another fee. I got out of mutual funds after I figured it out.

1 1Rating: 0

OP here

Mar 7, 2021 at 1:31pm

Yes I get there are fees and taxes (For the record, I do not mind paying taxes, I want to make sure roads are fixed, kids are in school and I have pension when I retire) I do not invest in the stock market myself because I know fuck all about the stock market, three friends I know lost thousands by trying their own investing. I'm more annoyed that I decided to invest in funds when the markets are all starting to tank.

3 1Rating: +2

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