Hi guys! Need some advice from experts. I got 15k on hand and I’m thinking to put it in an etf, but don’t know which one. The goal is to use the money for mortgage downpayment, I’d say I’m planning to withdraw it in 6 months or 1 year max. Any recommendations? Thanks in advance!
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3 Comments
Scott S@scottsinvesting · 6h
Being you NEED the $15k in 6-12 months, I wouldn't mess around with any ETFs. I'd stick to a money market fund or short-duration T-Bills, as I'm assuming you don't want to risk that $15k dropping much if at all. $SGOV is what I use in the U.S. for our T-Bills and I believe $CBIL is the Canadian version. If you choose money markets, an internet search is your friend. Good luck to you!
Max Penders@mjpenders · 9h
I'd put it in a short duration tbill or money market fund! A HYSA could also work. I'm not too familiar with the canadian money market funds but I'm sure a google search would rectify that for you
Jason @retiredjay · 4h
I'm in 100% agreement with @scottsinvesting. The market is far too unpredictable to park important, short term money into. The goal for you is to not lose money. You can't worry about how much you can possibly make, because you want 0 risk.
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