[sonick]

Just a few thoughts, pretty much reiterating points made by others but boiling down my thoughts:

* To RRSP or not to RRSP is a whole other discussion altogether since we have no details of your future plans, income levels, etc. But just off the top when you ask 'what would you do', I would put it in some ETFs and diversify under your TFSA. Personally, I contribute to RRSP and put the return towards TFSA in ETFs.

* As mentioned by others, big fan of ETFs due to how easy it is to get a solid balanced and diversified portfolio. I use Questrade where it's free to buy ETFs and only charge commission when you sell (from $4.95 up to max of $9.95 IIRC)

* As for talking to a bank advisor, it is indeed pretty much asking a car salesperson for advice on what car to buy. Most of them are glorified salespeople. Find a CFP, ask around for recommendations, and find one you feel you can trust (luckily in my case my dad is a CFP).

* Garth Turner must be taken with a grain of salt. He is bold and very convincing, but you have to pick and choose advice. Again, a CFP that you trust can provide insight into the other side of the arguments that Garth dishes out.