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You’re a Millennial with $10,000 Saved — What Should You Do?

It’s never too early to start investing and preparing for your future. If you’re a millennial, now is the time to start doing so if you haven’t already. However, the mere thought of investing can be intimidating for those who haven’t done it before. We hope this article can help you finally decide to invest that money. We’ll outline a few popular investment options below.

Graph showing what are Millennials investing in

Short-Term Investing For Millennial (5 Years or Less)

If you can, focus on long-term investments (ex. Investing to save for retirement). However, if you’re looking for money in the short-term (saving for a home, car, etc.) you can invest for that accordingly. For short-term gains, you can invest in:

  • Government of Canada bonds
    • Government of Canada Bonds offer safe returns and are fully guaranteed by the federal government
  • Other bonds
    • Bonds are debt securities issued by corporations, governments, or other organizations and sold to investors
    • Bonds usually pay regular and stable interest
    • Bonds are also a good way to diversify your portfolio
  • Broad Market Index Funds
    • An index fund is a type of mutual fund or exchange-traded fund (ETF) with a portfolio constructed to match or track the components of a financial market index, such as the TSX/S&P Composite Index
  • Peer-to-Peer Lending
    • Peer-to-peer (P2P) lending is also known as social lending or crowd lending, and allows people to get loans directly from other people, cutting out the financial institution as the middleman

Long-Term Investing For Millennial (10 Years or More)

You should leave your investments alone for 10 years or more if you can. Long-term investing is almost always the better option, and allows you to take more risks. For long-term gains, you can invest in:

  • Individual Stocks
  • Growth Mutual Funds
    • A growth fund is a mutual fund (a type of financial vehicle made up of a pool of money collected from many investors to invest in securities like stocks, bonds, money market instruments, and other assets) invested usually in a company with above-average growth
  • Exchange-Traded Funds (ETFs)
    • Mutual funds that trade like stocks
  • Target-Date Funds
    • Target-date funds are mutual fund or exchange-traded funds (ETFs) structured to grow assets in a way that is optimized for a specific time frame

For more information and tips on investing for Millennials, visit

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