Hey /biz/, I just need a little reassurance by people who have an educated opinion. Yes this is about mutual funds and yes I know its not a loss untill I sell. But I've lost around 1,000$ this month in the span of 20 days. I put my life savings into a tsfa, and now I've lost more money then I put in. I don't understand the concept. The market fluctuates, so why shouldn't I just take out the money I have left and put it in a savings account...I'd have more money if I just left it in my regular account. I'm canadien if that helps. I can't imagine the dollar not falling much lower and god knows how bad the economy will get. 2008 bad maybe..
Because you beginner. Investments like these aren't for fucking 20 days. They're for 1-5 years. You already bought, now sit on your ass and wait till the economy goes up and collect your 1-10%.
but the economy is gaurenteed to go down? how do I know canada will ever recover in a substantial way? could i just pull out the majority of the money, because id rather not lose any money then gain?
You're asking for advice that no one can provide you. No one knows how the market will perform in the future.
Historically if you were to buy a low cost index fund and hold for a multiple years, your stock would grow quite nicely. If you placed your money in a shit mutual fund with high expenses, I think it would be prudent to move that money to a better fund.
In the future and if you don't have the stomach for stocks, you should just invest in treasury bonds.
>and yes I know its not a loss untill I sell.
I went to my banker and asked for a loan. He asked,"What's your collateral?"
I told him I had $40,000 of Enron stock I bought in the past. He laughed and said, "Enron is out of business. That stock isn't worth anything!"
I said, "Hey dumbass banker....It's not a loss until I sell it!"
If it's a TD fund just leave it in there for the next several years until it picks back up. No sense pulling out now, you'll just be taking a loss and realistically it will go back up eventually. I invest on a monthly basis, whether market is up or down. If you don't have the stomach for it then just keep the rest of your cash liquid for the time being but definitely don't take out what you've already invested.
>HE BOUGHT MUTUAL FUNDS
WHY??? Canada has the highest mutual fund fees in the world. I've been telling you all to buy VFV. God damn you'd have made a killing recently.
Why didnt you buy VFV? Why?