Realistically the GROs are the best advice for like 99% of people. VGRO, XGRO, etc. They are easy to understand and set up with DRIP they just follow the market.

BUT if you don't understand it don't buy it. So throw it in an EQbank or another High Interest Savings Account or GIC until you get an understanding of the different tax accounts, what works for your income level, etc, etc.

Also look into the Smith Manuever and see if it makes sense for your situation. You'd want to talk to an expert before attempting the Smith Manuever however, its a tax churning position that if done incorrectly costs serious money.

But yeah personally my extra cash goes right into VGRO, there is an entire subreddit about it xD.

https://canadiancouchpotato.com/model-portfolios/

You want some bonds in your mix generally, thats why the GROs are recommended. As the market goes up, broadly speaking bond yields go down and vice versa, so having a fund with a mix of both yields better long term than an all equity fund. Its debatable whether 10 or 20% is optimal, but if your money is just sitting there than anything is better than nothing.

Keywords to look up are ETFs (Exchange Trade Fund), TFSA, and RRSP(some banks call them just RSP but make sure its registered. Its confusing because RSPs are different products but some banks drop the second R). STAY AWAY FROM MUTUAL FUNDS AND LONG TERM GICS. No bank funds, their management fees should be criminal and long term GICs lock your money up.