John Hok dot Com

So my first investment with the $2300 I earned from selling RapidWire and ProfileRenew is the purchase of a US Money Market Fund offered by RBC Financial. I walked into the bank a day or two after I sold the websites and invested $1400 of the $2300 I earned into the money market fund, leaving me with $900 left from the sale of the websites.

This is a pretty standard investment, I also have a chunk of my savings from my Canadian funds invested in a Canadian Money Market Fund. I find it easy to just move some money into these investments when I have no real use for the money because instead of getting little to no interest from the bank, investing in the fund at least gives you decent return on your money every month. I get around $3-4 a month from the $1000 I had initially invested in the Canadian money market which otherwise would’ve gotten like $0.01 if I just left it in the bank. Every little bit counts!

Money market funds are usually comprised of investments in different categories. This is what makes them relatively stable investments. The US money market fund I purchased had a minimum of $500 investment which is pretty much standard for most of these more simple type of investments. Looking at the informational PDF gives me some information like the current yield of this US money market fund is 4.35%(Canadian money market fund is at 4.15%) and that since the fund’s inception it has a trailing return of 3.42%(Canadian money market fund is at 4.99%). Good enough for me! What it will do is, at the end of every month, the return that is made from the investment will be reinvested into the fund automatically without me having to do anything. So this is a great way to get extra change from the money that lays in your account.

To give you an idea of how much I’ve gotten back from my Canadian money market fund investment, I initially invested $1200 into the fund in October. In October I got a return of $3.53, November $3.42, and December $3.87 bringing the total to $10.82. Not a lot but like I’ve said before, this is from money that would otherwise be doing nothing sitting in the bank.

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