# LIRA $ for retirement - not sure what to do



## petefromguelph (Oct 2, 2014)

Hey guys! Thanks in advance for any advice. I have been lurking the forums all day trying to figure out what to do with a LIRA I have in Itrade right now. I am a novice investor hoping to make a decent decision!

So here's the skinny. $31,844.88 in my Itrade LIRA. Im 31 so I have a long term window to invest and compound. 

I was originally thinking of spreading it across three Mawer funds. Mawer 150 (Small Cap), 106 (Canadian Equity I think) and the balanced fund. The MER would be higher than doing ETF funds BUT I wouldn't have to have much involvement and could let it sit. I then started looking at ETF funds due to lower MER. Maybe allocate in that direction. VCN, XIU, VTI - those have all come across my radar. Lastly, dividend stock. I purchased a BNS share a few months back after reading about DRIPs. I enrolled the stock in the DRIP program and off it goes. I like the idea of generating an "income" but am not sure how it works through a discount brokerage account when it comes to re-investing the dividends. Also, as I am 31, I don't think I will be using the "investing time" in the best way possible. 

As you can see I am a noob. Scattered, not sure what to do. Still scared at looking at a big number (to me anyways!) waiting to be invested. ANY help would be appreciated. Like I said, I have taken out books at the library, read through a few blogs, lurked on forums. Ran the gamut and here I am - too many options. I don't mind some risk as I have time to wait out fluctuations. I wouldn't want to go Vegas style investing, but would like a decent return. 

Thank you in advance to everyone!

Pete in Guelph


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