Q: My son is getting married this year and he and his fiance are planning to purchase a home in the next 2-3 years. He has opened an FHSA acct and invested these funds in a GIC. He also has cash in his RRSP and TFSA accounts that are held at TD Waterhouse Webroker which he wants to use for a down payment on the home as well when the time comes. Could you please give me your top 3 income/savings vehicles and your top 3 dividend stocks (understanding these are riskier) you would recommend he purchase through his TD Waterhouse account in this scenerio.
Many Thanks
Scott
Many Thanks
Scott
5i Research Answer:
We would suggest CASH, PSA and HSAV as savings vehicles, though not all brokers will allow purchases of all of these. If not, or as alternatives, we would be very comfortable using GICs. The timeframe noted is a bit short to add any risk, in our view. For conservative stocks, we would suggest: ENB, FTS, TD.