As much as I like ING, their mutual funds are WAY too expensive. I'm not sure what companies offer mutual funds in Canada, but look for something with very low expense ratios. All I invest in now are index funds and target retirement funds with expense ratios less than 0.5%. Most of the funds I'm in have expense ratios less than 0.2%. In the USA, Vanguard and Fidelity offer some of the best low-cost index funds, so maybe they have comparable offerings in Canada.
First of all, let me state my amazement that you comment on a French post! ;)
Thanks for the info. I must admit I don't know much about mutual funds. I like ING because they allow me to invest my money without having to call my bank and meet with someone who'll offer me options with lesser interest rates. I do intend on calling my bank in order to have an investment plan set up, I just keep putting it off... meanwhile, I can have a good conscience because I do have mutual funds now!
It's weird that ING would have a higher expense ratio though.
I saw ING and was intrigued enough to use google translate.
I'm not too surprised that they're expensive. ING was one of the banks that nearly failed and was bailed out; their interest rates have been low and fees high ever since. I'm seriously considering switching my accounts to another bank.
As much as I like ING, their mutual funds are WAY too expensive. I'm not sure what companies offer mutual funds in Canada, but look for something with very low expense ratios. All I invest in now are index funds and target retirement funds with expense ratios less than 0.5%. Most of the funds I'm in have expense ratios less than 0.2%. In the USA, Vanguard and Fidelity offer some of the best low-cost index funds, so maybe they have comparable offerings in Canada.
ReplyDeleteFirst of all, let me state my amazement that you comment on a French post! ;)
ReplyDeleteThanks for the info. I must admit I don't know much about mutual funds. I like ING because they allow me to invest my money without having to call my bank and meet with someone who'll offer me options with lesser interest rates. I do intend on calling my bank in order to have an investment plan set up, I just keep putting it off... meanwhile, I can have a good conscience because I do have mutual funds now!
It's weird that ING would have a higher expense ratio though.
I saw ING and was intrigued enough to use google translate.
ReplyDeleteI'm not too surprised that they're expensive. ING was one of the banks that nearly failed and was bailed out; their interest rates have been low and fees high ever since. I'm seriously considering switching my accounts to another bank.