A formula for a first home

Kiyo Masui, 26, is completing his Ph.D. in astrophysics at the University of Toronto and plans to buy his first home in eight years. MoneySense has some suggestions to help him reach his goal on-time.

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From the December/January 2012 issue of the magazine.

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Kiyo Masui, 26, is completing his Ph.D. in astrophysics at the University of Toronto and plans to buy his first home in eight years. Masui already has $20,000 in his Tax-Free Savings Account and expects to add $5,000 annually to save for the down payment. He asked us to recommend an appropriate portfolio for this goal, taking into account his preference for ethical investments. Here’s our suggestion:

The iShares ETF holds Canadian companies with strong social and environmental records. Masui should gradually increase the proportion in the bond ETF until it reaches 100% in eight years.

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