If you haven’t done so, consider entering your name in the contest where we are giving away two $50 Chapters gift cards (courtesy of InsureCan). Ben, who suggested paying down the mortgage, has a commanding lead but don’t let that discourage you. There are two prizes on offer and the race for the second spot is still wide open.
The contest has generated a number of interesting suggestions. Here are some:
Pay off high-interest debt, pay down the mortgage, set up a DRIP, try to find savings in recurring bills, invest inside a TFSA, practice guerrilla frugality, contribute to a RESP, sign up for a ING Direct TFSA account, buy a waterfront cottage, shift out of active funds into index ETFs, keep investing at lower prices, find good dividend stocks at a reasonable price, automatic and periodic investing into index funds, TD e-Series TFSA account, review your portfolio in light of your actual tolerance for risk, buy-and-hold for long-term gains, ditch the high-MER mutual funds, put high-risk assets inside a TFSA, just do it, invest in your skills and learn to think like a business person, continue buying a fraction of all those great businesses that are on sale, ignore ads and stop watching TV, open a TFSA, stick to your long-term strategic asset allocation, index and forget about it, Canadian bank shares inside a TFSA, find a balance between a TFSA and a RRSP and automatically invest in a TFSA.
Some commenters opted for a stock pick for 2009:
POT, Banks, SWS.UN, blue-chip stocks, gold stocks, GOOG, PowerShares Cleantech ETF, laddered corporate bonds inside a TFSA, RIM, energy index, XSP and XTR.
And, here’s my favourite:
“Having seen my portfolio get decimated and a reasonable chance of an impending job loss, I shall be investing in a gym membership, various grooming services and seriously consider marrying one of the boring rich men my parents keep wanting me to meet”.
Note: Four Pillars and The Financial Blogger are holding a similar giveaway and are giving away Chapters gift cards as well.
