Instrument Selection...

I vividly remember the reason I am not a flute player today... a friend in 5th grade pressured me to join her in the empty clarinet section. Because I had no siginificant back-bone, I succumbed to sucking reeds and playing 2nd seat while she played 1st. I think I liked the clarinet best polished, pieced and laying in its velvet-lined case. Not surprisingly, I did not have a career in it.

Selecting an invesment instrument is kind of like that; indecisiveness usually gives way to what someone else says.

Not wanting a repeat performance of this earlier ephisode, I researched and can across this handy little savings calculator from the Aussies. There are probably many others out there, but I like this one because I found it.

Now, I had read about the 'magic' of compounding and understood the concept, but when I started plugging in my numbers, it emerged in my mind as a 'new reality'.

Shopping around for an investment instrument basically comes down to the interest rate (rate of return), since the other variables like time and contribution and initial deposit are, for me, fairly rigid.

Avoiding the load, registered fixed deposits from my local credit union look pretty good. But I am eager to see what else is out there.