How should I invest a $60,000 inheritance? + MORE Jul 31st

How to go about securing the best return for your investment in Canada.
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Five must-read books for August: psychos, sailors and sommeliersThe stomach of a dead Black Footed albatross chick filled with plastic consumed accidentally at the Midway Atoll Wildlife Refugee in Midway Island. (USFWS/Alamy Stock Photo)
This month in book reviews: A town of murderers, a family of psychics, sailing through an ocean choked by garbage, a massive wine con and a philosophical murder mystery. Read more below and check out the rest of our book reviews.

JUNK RAFT
By Marcus Eriksen
Sixty-four days into their voyage from California to Hawaii on a raft made from plastic bottles, Marcus Eriksen and his friend Joel Paschal were in the middle of nowhere, running low on food. A mentor who had sailed the same route 50 years earlier advised them via satellite phone to drag a T-shirt through the surface of the Pacific to catch plankton. They tried—but what they caught was “more and more plastic.”
This happened back in 2008; the problem is now worse. Although the widely reported image of a humongous island of discarded plastic in the ocean turned out to be an exaggeration, the reality, as Eriksen depicts, is at once less monstrous and increasingly frightening…

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How should I invest a $60,000 inheritance?
Creative Commons/Quinn Dombrowski
Q I will be coming into $60,000 in the next month or so. I will use about $10,000 to pay down my line of credit (LOC) and credit card. I already have a TFSA account with lots of room to add more money. I also have a small investment account with my bank, which has earned $44 on the $600 I put into the account five years ago. I am not very versed on financial matters so, where would be the best place to put the extra money? TFSA? GICs? A bond fund? I am six years away from retiring, but I plan to work well past age 65. I have no RRSPs and want to be able to have access to this money so I can draw on it intermittently if I need it. Your guidance would be appreciated.
—Cheryl
A Investing a large sum of money can be a daunting decision so it is important to get advice. Let’s go over your options:
Before paying down debt it is always important to take a look at the pros and cons. Paying down a debt at an interest rate of 19% like a credit card is a debt you want to pay down…

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Energy companies are focused on controlling what they can, as oil prices bump along the $50 US mark.

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Home ownership transfer fees contribute more to Canada’s economy than agriculture, logging, fishing and hunting combined.

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