Hello, I want to eventually make $3000 dollars a month on top of my working wage.
I'm looking for a low to moderate risk way to accomplish this. (If even possible)
I currently have 110K
10K in a ETF (locked in 5 yrs)
15K in ING 1.5%
20K in 2% RRSP (locked in 2 more months)
rest is in a 1.3% savings account
I'm open to all suggestions that can help me achieve my goal, I'm only getting 1-2% a month so there should be room for improvement.
Which bank should I be with, what should my TFSA be in? Should I be in stocks or real estate? Any suggestion are welcome.
I'm more interested in making money monthly or yearly instead of 10-15 years down the road. Is that alright or will I get much lower returns because of that.