Investor Centre can be a complicated, jargon-filled, and even scam-ridden place. But investing can also be a great hobby to help meet financial goals like saving for a down payment or retirement. The key is to balance your priorities with your time horizon and risk tolerance.

One of the most common low risk investments is GICs, which are similar to high interest savings accounts but offer a higher return. These are ideal if you’re planning to spend your money within three to five years.

Top Investment Resources for Canadians: Tools, Apps, and More

Another option is to invest in bonds, which are essentially loans to entities like provincial and federal governments or large companies such as Apple. Bonds pay a lower yield than other low-risk investments, but are considered safe because they’re guaranteed by the government’s Deposit Insurance Corporation of Canada (CDIC).

When choosing an online brokerage, check whether they’re a member of the Canadian Investor Protection Fund and offer customer support in your language of choice. You should also look at the fees charged for each trade, as these can detract from your profits. For example, robo-advisors often charge a management fee of 0.25% to 0.70%.

Commodities are another low-risk investment option, as they’re produced in Canada and have a long history of success. The country is a top producer of natural resources like oil, gas, and natural minerals like potash. If you’re interested in commodities, you can invest directly on the TSX or through a specialized commodity trading company.