TFSA REIT DRIP Investment? RRSP HBTC Short / Long term Investment?
I'm wondering if it's possible to put my TFSA into a REIT that deals with buying up cheap
US property. I want it to be DRIP.
If this is possible could I get some specifics on how to set it up, I'm new to investing.
I also have 34K worth of RRSP, 25K I'm saving for my first time home buyers plan.
I'm looking at getting a house within 1-5 years, what should I do with the 25K till then and what should I do with the left over 9K?
Thanks for the information.
Last edited by emperor; 2012-08-10 at 05:53 AM.
To set up the TFSA, choose a brokerage you want to deal with. Call them and ask them to open a TFSA account. Tell them you want to transfer the funds from your current TFSA into their account. Once the funds are there, you just buy the REIT, and then call the brokerage and tell them you want it to DRIP.
For the 25K I would just keep it in high-interest savings until you buy the house. For the leftover 9K, invest it according to your risk tolerance and time horizon.