Hi, in Canada! Also, I am asking this hypothetically ( like the other one). Thanks.
Hypothetically it would be difficult to invest in the stock market not to mention it is a high-risk high reward strategy and I would avoid that especially if this your first investment.
Stock market is something that you have to really investigate and do and therefore not really what I would call a safe investment. If you are up for the challenge I would suggest you do a thorough analysis of the companies and how you are going to purchase stocks. This requires a lot of though.
Property investment is also something I would not recommend as your status in Canada is of a temporary nature. I would also generally discourage buying property unless you are thinking of settling down in one place permanently. If you get a job in another province, for example, you will either have to pay rent and the loan or you will have to limit your opportunities.
The odds of you winning a lottery a next to zero and if you really want to help some needy children or whatever these people are advertising in lotteries then it is better to donate directly and claim it in your taxes then playing the lottery, it is NOT an investment.|
I am not sure where you are from but in India, for example, the Fixed deposit rates are much higher than Canada so a simple solution would be to setup a NRE/NRO account where you can freely transfer your foreign currency and since India does not tax foreign income you can put it in a Fixed deposit and get a 6-7 % interest rate pretty easily. You can set the time depending on if you want to save it for a major event or something. While this isn't a high return it is really risk-free.
Depending on what country you are from you should be having similar ways of repatriating your income. Obviously, if you are in a western country your rates might be the same as Canada in which case you can put it in A similar type of deposit or GIC scheme in Canada itself.
