26 y/o trying to start investing

[tokitee]

I'm a 26 year old, got into a job paying about 70k a year. After rent and insurance and everything, I could possibly save about 1000-1500 a month.

What is the best way for me to invest this if I am looking to buy a house in the next couple of years. I've looked at HISA's that give about 5.2% for just the first year, but are there any other reliable investments that I could make that could grow my principle investment?

Thanks to everyone who is able to help out.

 

[lynturc]

@tokitee Max FHSA then TFSA

get a nice and locked in GIC if you can for a number of years. or you can consider HISA etfs such as psa.to or cash.to

 

[resistthedark]

@tokitee !investingtrigger

 

[richardlp]

@tokitee get out of canada

 

[eurombrem]

@richardlp Why, he seems to be doing good for himself. Making good income for his age and saving over 20% of his gross income. He will do just fine.

 

[richardlp]

@eurombrem buy the time he finish saving up that 200k that money will lose a good chunk of its buying value. feel like 60k

 

[eurombrem]

@richardlp It’s called investing. If you let 200k sit in a chequing account then that’s on you

 

[richardlp]

@eurombrem how do u cancel-out the goverment being retarded. These last 7 years feels like we paid for a ww3 in advance.

 

[neely]

@tokitee read the richest man in babylon. If you want to invest in stocks read buffetology. we retired well at 50 and started with nothing