Well, I’m anxious to get started, but having a tough time getting a hold of my banker. The fact that today is a holiday (for most people!), doesn’t help the fact.
As you know, I’m doing the ‘Smith Manoeuvre‘ with my mortgage, and as such, I have free equity in my home that I am able to take out and invest. This money to me, is my safe money.. money in which I do not want to screw around with, or screw up. I would be ecstatic with a 15 - 25% rate of return year over year (especially when you look at what it can do in compounding). I am currently searching for the best ‘vehicle’ for this type of return. I think with a combination of dollar cost averaging, as well as proper selection with no-load (no fees) mutual funds, I should be able to make this on a yearly basis.
The problem I have so far is that I want it to be all automatic.. I don’t want to be screwing around making trades, etc.. Although if it’s going to be a tough thing to do, I may very well make it a self-directed account and do it myself on Questrade or something. We’ll see. Ideally, and what I want.. is to be able to simply say to the bank, I want to put $XXX every month and buy ‘this’ fund every month, however I want to be able to change funds at any time if I think the market is going to change directions, etc. So it’s not going to be a huge amount of movement, but I want to be able to do it without penalty or fees.
I think I’ll start researching on the net from a lot of other people on the net as to what they are doing with their free equity from the SM, I’m sure there are a lot more knowledgeable people out there when it comes to ‘safe money’.
I do have a good starting amount of money that I’m waiting to start doing this.. if my banker would ever call me back that is! (I won’t curse Scotiabank too much yet though, wait till my next post 
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