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Vanguard S&P 500 Index ETF (VFV $153.06)
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Vanguard Balanced ETF Portfolio (VBAL $34.52)
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Vanguard Growth ETF Portfolio (VGRO $39.40)
Q: What might you suggest for the following situation?
There is $27,000 held in registered accounts with an expectation to augment those savings at a rate of about $1,100 per month to address two prime objectives. The first is to accumulate sufficient funds for a down payment on a condo within five years. The second is to adequately augment savings for retirement, hopefully, 16 years from now.
A financial advisor is suggesting investing in a low risk, balanced fund with a MER of 1.9%. The management fee seems high and the expected return from the investment not particularly exciting. We have a relatively low threshold for risk, especially for those funds earmarked for retirement, but are willing to try something other than a balanced fund to improve returns. Taking on additional risk is especially palatable for that portion of the savings earmarked for the condo purchase, likely about 50% of the overall savings.
Thanks in advance for your input.
There is $27,000 held in registered accounts with an expectation to augment those savings at a rate of about $1,100 per month to address two prime objectives. The first is to accumulate sufficient funds for a down payment on a condo within five years. The second is to adequately augment savings for retirement, hopefully, 16 years from now.
A financial advisor is suggesting investing in a low risk, balanced fund with a MER of 1.9%. The management fee seems high and the expected return from the investment not particularly exciting. We have a relatively low threshold for risk, especially for those funds earmarked for retirement, but are willing to try something other than a balanced fund to improve returns. Taking on additional risk is especially palatable for that portion of the savings earmarked for the condo purchase, likely about 50% of the overall savings.
Thanks in advance for your input.