FundRobot » Mutual Funds » Does my retail bank want me to invest in shares or bonds?

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Old   #1 (permalink)
 
Posts: 2,658
Default retail bank want me to invest in shares or bonds

Whenever I read an article about personal finance for a 20-something, it recommends investing in some combination of stocks, bonds and cash.



However, whenever I got to my bank, they typically recommend I invest in cash. They tell me to put my money in a TFSA, RRSP, and/or savings account, suggesting I don't invest in stocks or bonds.

Are my bank giving me good advice or are they just wanting me to save with them rather than give my money to a bond or stock issuer?

Thanks
Trader4Ever is offline   Reply With Quote
Old   #2 (permalink)
 
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Default retail bank want me to invest in shares or bonds

Banks want you to invest with them rather than with a stock/bond broker.
TheGreat33 is offline   Reply With Quote
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Old   #3 (permalink)
 
Posts: 2,546
Default retail bank want me to invest in shares or bonds

Banks are good for saving, checking and loans only

Never invest through a bank for retirement savings, mutual fund or shares due to higher third party fees

Your bank is within business to make money not educate or look out for you. A 20 year old should be investing within stocks due to many years of compound interest for their retirement goals. Leave this bank

Best of luck
Beauty2000 is offline   Reply With Quote
Old   #4 (permalink)
 
Posts: 2,512
Default retail bank want me to invest in shares or bonds

Stay away from bank products.
Invest with a brokerage firm.
If your still young, most of your money should be in stocks
or a stock mutual fund.
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Old   #5 (permalink)
 
Posts: 2,600
Default retail bank want me to invest in shares or bonds

Banks are in the banking business - checking, savings, CD's etc. You want to invest in stocks (or shares as you folks say), you open a brokerage account.
Cash754 is offline   Reply With Quote
Old   #6 (permalink)
 
Posts: 2,611
Default retail bank want me to invest in shares or bonds

Your Bank only want you to put your money in a TFSA, RRSP, and/or Savings Account because those are the products THEY have to sell you...

You need a Brokerage Account to invest for your retirement, which you can get a a Brokerage....

I'm not sure I would really "trust" your Bank any longer...
JohnyZone is offline   Reply With Quote
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