Wealthsimple Trade 2024 - Quick Tutorial for Beginner Investors in Canada!

[@LivinginCanada]

Hey guys, Wealthsimple will give you a free Mac or IPhone 16 💻📱when you transfer $100,000 or more to Wealthsimple, promo ends December 13, 2024. Simply use my referral code: ZCZSZQ here: www.wealthsimple.com/invite, and make sure you register for the Mac/IPhone promo! *Note: You'll need to maintain your funds for 365 days after the funding period ends.

[@johnmatters8140]

Thank you!! You saved me from getting taxed. I didn’t realize that the TFSA you could still invest in stocks with it. I was currently using a non-registered account

[@arielquiabang9257]

Finally someone make a video step by step! Unfortunately i made mistakes when i tried to set up my account in WS 😂.

[@LivinginCanada]

Hope you got things sorted out! :)

[@aggiemsd28]

Love this girl. What a lifesaver with these tutorials.

[@JayB-JayB]

This is one of the BEST channels on KZbin for both Canadians and for those interested in investing in Canada!😊❤

[@LivinginCanada]

Thanks for the endorsement 😎

[@Chang-r6k]

This is only from Canada? Or can I trade outside Canada?

[@getoutofCanadaB4its2late]

I saw a video of yours a year ago and I really liked how you present info. Now you're talking about WS; the very thing I need help with. 3 minutes in and I already trust you. Glad i found you!

[@LivinginCanada]

That means a lot to me! I'm glad if the way I explained it worked for you! Happy weekend!

[@karinefrommontreal]

Great video for Canadians!!🇨🇦You were clear on every step, amazing explanations. Ps Investors please dont underestimate the power of time: I was investing only 10$/pay at the beginning but with years, its a snowball! Start invest for the long term, you will be proud of yourself as the account will skyrock!💵🤑

[@LivinginCanada]

Thanks for sharing your experience! I hope it will motivate many other viewers to start with small amounts and keep going. You're right, it's amazing to see how quickly investments grow if you keep at it!

[@bujambisibomana]

@@LivinginCanadadefinitely, yes. Thank you for your lesson.

[@Easyservice-x8q]

You talk very well and informative

[@bradsaul236]

This is a great tutorial I had a lot of questions that you already answered as your video went on

[@delijs]

Thank you so much for this video and all of your Canadian content on investing!!

[@LivinginCanada]

Thanks for watching and being part of this community!

[@moraa_rioba]

Thank you Chiu Yen! Always looking forward to your uploads.

[@LivinginCanada]

Thanks for being part of this community! Cheers!

[@ISAhcoolscene]

Thanks so much, I'm new to Canada had a few hiccups with signing up but I got on and I feel so excited...❤🎉

[@ISAhcoolscene]

Thanks for your code as well!!

[@LivinginCanada]

Enjoy the journey!

[@D4rkBl4de]

Great tutorial! Thank you! I'm a baby investor, I can only put 50$ a paycheck into it but it's slowly building up on Wealthsimple.

[@LivinginCanada]

That's awesome, a great start! Even $50 adds up over the years, and with gradual increases it will quickly snowball. Happy investing!

[@chillkid1465]

@@LivinginCanadaHi I was wondering if you had any videos relating to reward apps to save money Like airmiles , scene+ and others I may not know of What would be the best one for shopping and getting cheap fuel in Canada

[@MegaLifeHappiness]

Your comment just encouraged me to start. I have been terrified to death - not kidding. The thought of making big financial investment mistakes really scare me to the extent of real anxiety. Thank you for sharing how you started.

[@doreenwilliams2018]

​@@LivinginCanadawhat's the minimum amount can you start off with or does it depends on the the type of stock you want to purchase?

[@kbomera87]

@@doreenwilliams2018depends on the stock price you want to purchase but u can start with even 3 dollars. It takes money to make money.

[@pierrejackson6865]

Thank you for the video. My question: after buying say 1 share of etf. Can you have recurring buys of the same etf, growing your share every month. For example after first buying a share, next month you had 0.5 share and so on. How does it work?

[@LivinginCanada]

Yes, you can scheduling recurring purchases of the same share or ETF, it's explained here: 10:27-10:46, cheers!

[@olufolahanoluyide550]

Great video!! Is it possible to split between the Managed portfolio and Self directed investing at the same time? If for example I have money in my TFSA account and i want to split into both?

[@LivinginCanada]

I haven't seen that option! But you could try to open a second TFSA on the same platform and see if it will let you choose a different mode!

[@vinitjakhar3817]

Great!! I have One question. I’m investing in TFSA and FHSA in CIBC bank as my account is in that bank. So is there any difference between Investing in CIBC and Wealthsimple? If yes then which one is safe and better for outcomes?

[@KehindeOmikunle]

Would like to know more as well, as i just started a tfsa with cibc. Thanks ahead.

[@LivinginCanada]

@vinitjakhar3817 @KehindeOmikunle The TFSA itself is the same (in terms of tax advantage and how it works in general). The difference would come down to the types of investments which can be bought (I don't know what CIBC's offering is, but I would guess that many are similar), and the interface (Wealthsimple has both desktop and mobile version, while I don't know how CIBC's look like). In terms of outcomes, for self-investing there's no difference, since you would be the one picking your investments. As for their robo-advisor (if they have on), I don't know. One of the reasons I like using Wealthsimple compared to traditional bank's platforms is that the app is really easy to use. Uncomplicated and clear. Maybe someone else who's actually used CIBC can add more here! Cheers!

[@vinitjakhar3817]

@@LivinginCanada thanks for your input.

[@amtam8664]

CIBC's self managed trading account is called 'Investor's Edge' and they charge $6.95 per trade.

[@jerinmbinoy8832]

Haiii your video was great Had a doubt , benefits of recurring investment on weekly basis. It’s good or bad

[@mclaughlinkory]

Appreciate your clarity and simplicity for beginners. Do you have other socials I can follow? I'm in Toronto as well, would love to learn more from you.

[@LivinginCanada]

I only post this content on KZbin, cheers!

[@steeve3386]

I would like to only buy US stocks. Do you recommend Questrade in that case? Or there is a way around it with Wealthsimple. For example by pating the 10$ fees

[@Itsmekams]

Hi,I have a quick question : will I earn any interest from TFSA just by keeping money in it but not investing?

[@LivinginCanada]

No. The TFSA is just a 'pot' that holds your money/investments and gives you certain tax benefits (no tax on capital gain, interest, dividends). If you just leave it there as cash, you'll not earn anything. To grow your money, you need to invest it in something. Cheers!

[@b-rare]

Would you say it’s good idea to use your CIBC investor edge (what ever other investing platform) for USA stocks since you can Norbert gambit, and then wealthsimple for cad stocks,? Can I push my usd from my tfsa into my wealthsimple portfolio?

[@LivinginCanada]

I'd say it's fine to buy small amounts of US stocks, even on Wealthsimple with the forex fee. But if you plan to have a lot of US holdings, then the fee makes a difference. Questrade is a popular choice for buying US stocks as well, I have a link in the descriptions as well

[@paxtun-k8o]

Thanks for the analysis! I have a quick question: My OKX wallet holds some USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). Could you explain how to move them to Binance?

[@LivinginCanada]

Sorry, I'm don't use Binance!

[@idiotsicn]

I think you should not be posting your seed phrase. It's supposed to be kept secret

[@Marnel12-b3l]

Following the Trump victory,My spouse and I 've set aside $250k to follow up these stocks I believe it is a good time to capitalize on the market for long-term gains, but it wouldn't hurt to know means of actualizing short term profit.

[@StephenBones-s2g]

Find quality stocks that have long term potential, and ride with those stocks. I have found it takes someone who is very familiar with the market to make such good picks.

[@DavidCharles-w4n]

Yes. It is very easy to buy in on trending stocks but the problem is knowing when to sell or hold, which is why a coach is important. I've been in touch with one for about a year now and although I was initially skeptical about it, I will say I've made more progress within a year generating 6figure profit

[@stu-i3w]

how can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.

[@DavidCharles-w4n]

Svetlana Sarkisian Chowdhury a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.

[@damian-e2r]

I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.

[@alexandrasalas1198]

Wow, I didn't know about the FHSA, is there a limit for that account? Can I combine that account with my spouse?

[@LivinginCanada]

Yes, the total limit is $40,000, and you can combine it with the HBP (RRSP) as well. I have videos just on that, you can look at my playlist on investing or home purchase. Cheers!

[@pavanp1130]

Nice content 👏I’m subscribed. Looking more content on some stock analysis and recommendations

[@josephvrianzabala6502]

If you already have a TFSA account and with a managed portfolio, am I able to change to self-directing?

[@carloscanizares4699]

Yes. There is an option to transfer the account “in kind” and WS will take care of the rest.

[@liyojoseph]

Which is good etf to buy ?

[@LivinginCanada]

I like index etfs!

[@J.FamGuy.M]

For example, S&P 500 etf or tsx 60 composite etf.

[@Santi9431]

Great video, just started investing. How do u enter the referral code?

[@LivinginCanada]

Thank you! You can click on the referral link in the descriptions of the video, then follow Wealthsimple's prompts to enter the code. Cheers!

[@moniryousefian8782]

I was told if we buy American stocks with TFSA n we make profit when we sell them we need to pay tax?! What about VFV it's Canadian version of voo,do we still need to pay tax ?

[@LivinginCanada]

The withholding tax of 15% only applies to dividends, it's directly applied to the dividends paid out by the ETF (at the fund level, so it's already reflected in the dividends you receive), there's no 'additional' tax to be paid on top of it, so 'tax-free' in TFSA holds. The 15% withholding tax applies to both VFV and VOO held in a TFSA. But if you hold VOO (a US-domiciled ETF) in your RRSP, you'll be exempt from the 15%.

[@moniryousefian8782]

@@LivinginCanada So what (stocks)are you suggesting to hold in my TFSA and not pay tax later ?! Greatly appreciated 🙏👍😍

[@J.FamGuy.M]

I wouldn't worry so much about paying the US dividend tax. 1. You will also pay canadian taxes on Canadian dividends. 2. CRA allows you to apply a foreign tax credit. I use index etfs like S&P 500 or TSX 60 as well as a global index etf. You can decide your percentage of exposure. I.e. 40%-40%-20% ATM my amateur split is 30-60-10 with 30% of my Canadian holdings in individual stocks of companies I support.

[@b-rare]

Can you Norbert gambit in another area and then transfer your usd into wealthsimple? If not then this app is just for Canadian investing only otherwise forget it

[@ericg5193]

I had opened a wealthsimple account a long time ago; i don't remember if I choose managed portfolio or not. how do I check and is there a way to switch?

[@berhanetaame6667]

Great content, keep it up,

[@LivinginCanada]

Thanks!

[@Komuu_]

I have a doubt, lets say I deposited $7000(2024) in my TFSA this year, and the next year limit is $7000(2025). So, can i still contribute in my TFSA $7000 + new deposit.

[@LivinginCanada]

If this year you've already maxed out your TFSA, next year January your limit increases and you can contribute again.

[@jfdumont7731]

i have paid off my house worth 730 k to 750k 77 in free from taxes account and 24k in tsfa do u think that its a good start and im disabled so only working with 48 k yearly im single and how could i build on and grow those numbers

[@stephenn88]

How do you use debit Visa deposit

[@AmitBk-kt5ss]

Can I buy stocks, even im not Canadian citizen?

[@LivinginCanada]

You don't need to be a citizen, but a Canadian resident with a SIN number, hope that helps!

[@RashedulAlam-y9f]

Do you post videos on tiktok?

[@LivinginCanada]

I only publish on KZbin :)

[@arnelgarcia5823]

Tell more about this thanks

[@Ahyeon_____]

I started from 8k and now, I have only 5k left and I never put more money again 😂. That was my 8 months of savings as a student tho

[@J.FamGuy.M]

😢 did you try your hand at picking individual stocks or did you buy standard market etfs like s&p 500 or tsx 60?

[@stephenn88]

BM is rich 😂

[@Ahyeon_____]

@@J.FamGuy.M i started with zero knowledge and I bought Tesla stock when it price dropped at 142 then a week later , I gained like almost 1.5k then I sold them and started buying other stocks and even crypto then I lost more than 1k in it first day, and more than 3k after a week . 😂😂

[@CanadaVibes-fd7bh]

is Cash account in wealthsimple is not registered account?

[@janhavipatil2732]

It say some investment options arent available for this type of account

[@tekunji9884]

🎉😊

[@LivinginCanada]

Cheers!

[@ሃብተ]

Wealth Simple weaken me on the exchange. I am a prenum, 1.5 per transaction, with Wealth Simple being very accommodating as it does not allow transfers between accounts without exchange. I am thinking of leaving this company in the future and I cannot continue like this

[@carloscanizares4699]

Other platforms charge a similar fee as well. 1.5% is a lot smaller compared to banks.

[@stphzIRL]

Wondering if I can still invest in registered accounts if my status is still under international student? or do i have to be a PR in order to do this?

[@LivinginCanada]

You don't need to be PR, but you have to be a resident, and have a SIN. Hope that helps!

[@esther-mordecai]

Great content

[@LivinginCanada]

Thank you!!

[@brownboss876gad]

Hello can you reach out to Me? I have some questions I would like to ask personally... I live in alberta. Can we set up a simple meeting?

[@Ms_Meowingtons]

I didn’t think you could buy crypto on you tsfa

[@KirstyWilsonPhotography]

she says in the video that it cannot be held in a tfsa.

[@nielgoh]

lol i just opened my Wealthsimple account...then only I come across this video on my feed.... that's a waste of a referral right there..... sobs

[@nielgoh]

oh oh...managed to enter referral XD.... and gotten my $25 =P

[@b-rare]

Imagine paying a management fee to a robo investor when all you could have done was bought voo and closed your eyes 😂 one book can save you from many errors . People should read books and learn ! Or watch KZbin videos 😂

[@LivinginCanada]

Not a big fan of robo advisors!

[@scardera]

guy deposit 100k to get a iphone... xD

[@superdaddychannel8270]

She is so unprofessional, you cannot choose TFSA and other registered accounts if you trade frequently. It all depends on how you use your account.

[@LivinginCanada]

TFSA and other registered accounts are not meant for frequent trading. I'm a proponent of long-term investing for consistent growth. These accounts are meant for saving and investing money long-term while getting tax benefits.

[@ashirmyratsaparov8049]

​@@LivinginCanada0:18

[@KharenViloria-b5k]

Hello I hold a work permit and have SIN can I use wealthsimple.