I'm kind of new to this stuff. I have an RRSP and am currently playing with money..saving and stuff. Are mutual funds better than RRSPs? or the other way around?
2007-08-29 14:18:22 · 5 answers · asked by emily45 2 in Business & Finance ➔ Personal Finance
this answer is a shot in the dark -- depends mainly your age and how much money and how much risk you want to take -- best advise is to contact a financial adviser and get the info from the professional!!!
2007-09-02 08:18:38 · answer #1 · answered by Anonymous · 0⤊ 0⤋
In the UK mutual funds most commonly describe unit trusts and oeics, of which there is a vast choice. Investment styles range from UK stocks and shares to global markets, corporate bonds, property and commodities, so there is no shortage of options. There’s no simple answer as to which is best for you. It will depend on factors such as how much risk you are comfortable taking and whether you require an income. For many investors it makes sense to combine funds across a range of areas, as this helps to spread risk. When choosing specific funds always check how successful the manager has been to date, as many struggle to beat simple index tracking funds.
2007-08-30 06:14:58 · answer #2 · answered by Unbiased.co.uk 5 · 0⤊ 0⤋
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2007-08-29 17:25:51 · answer #3 · answered by acidburn 1 · 0⤊ 0⤋
You need to sit down with a financial adviser that will TEACH you about investment options. A mutual fund is ANY investment that pools funds from many people to invest. The actual investments in the fund can be ANYTHING. Therefore any general comment comparing mutual funds to anything is WRONG.
2007-08-29 14:35:44 · answer #4 · answered by STEVEN F 7 · 1⤊ 1⤋
There is no such thing as the best Mutual Fund. There are "Asset Allocation Plans" with well managed funds to cover each class.
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2007-08-29 16:50:38 · answer #5 · answered by Common Sense 7 · 0⤊ 1⤋