How to start investing as a beginner in Canada (3 simple steps!)

[@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.

[@chikku807]

Since i started my full time job i was lazy about saving and put it off for too long. Now I'm going through your videos learning about all the basics of savings and investing (i hadn't even opened a rrsp or tfsa even though my company has matching contribution for rrsp and even stock i believe)

[@s.kkhatri5873]

beautifully explained. I took around 3 years to think to invest and keeping my savings in saving account, it seems that the time has come to invest appropriately

[@LivinginCanada]

Did this video help you to finally start investing? Let me know, I'd love to hear from you! 😎

[@26pearlpearl]

I started investing only two months ago after seeing your videos and also checking out a few others. Thank you for all the tips.

[@sachithraperera]

HI I watched your video and signed up with your reffereal code.Thank you for the information.

[@robashow5055]

Your video is very helpful! I have so many questions about exchange rates when buying USD stocks. I was wondering if you offer any classes or guidance on how to invest successfully. Please let me know!

[@rudizzle6290]

You’re the best. Thank you!

[@mbahgugel271]

During my working years, I chose 50% "high risk" GIC investment in my RRSP and 50% into "low risk" chosen by the management, at the retirement year before withdrawing, the capital gains were exactly the same figures.

[@orfatron]

AMAZING well explained to the point videos ! .

[@painuchiha2694]

Great video! I am uneducated about investing and missed many years of investing opportunities…

[@LivinginCanada]

Thanks so much! Everyone starts somewhere, many not knowing anything about money and investing. It's never too late to catch up though, a lot of growth can happen in 10, even just 5 or 3 years. Cheers!

[@kevinmccarthy8879]

Hey, I love the videos. Very informative. I think you said wealth simple doesn't trade options, but I'm doing covered calls on there. I think it's new. I have a question about TFSA. Can you go over on the max contribution room by your stocks just growing in there?

[@LivinginCanada]

Thank you! Yes, I think they added that some time ago. To answer your question: No, the TFSA contribution count is based on deposits, and doesn't count the growth of your investments.

[@pierrejackson6865]

Hello, thank you for the video. After you buy say a share, when you periodically deposit more money into the fund, does it mean buying more shares or? Its still confusing me.

[@LivinginCanada]

There are roughly 2 parts to the process, and it's similar on most app/platforms. First, when you deposit money into a registered account on an investment app (registered accounts are where you can get tax advantages), at first the money just sits there and is not invested. You can do this manually by transferring money into the account or via auto-deposit where the app automatically deducts a certain amount from your back account every x weeks/months. Second, to invest that money into certain stocks or Index Funds, you can either manually buy them each time, or you can set what's called 'recurring investment', where the app will auto-purchase certain investment products for you. Another way is to use the function 'limit buy', where you set your target price for an investment product. The app will then automatically buy that stock/fund for you once that specified price is reached. If it helps, I will make a step-by-step tutorial in the future!

[@pierrejackson6865]

@@LivinginCanada thank you so much for the reply. I think step by step video will be super helpful especially for a beginner like me. Much appreciated!🙏

[@mandanakisomi5389]

@@LivinginCanadaplease do! I'm a beginner and want to start! Very confused!

[@ivanmolinachavarria308]

What happens if I already have some savings in a HISA and I already have the room limit in my TFSA ? Should I create an RRSP Account to move the money of my HISA to the RRSP?

[@LivinginCanada]

If you mean that you've overcontributed (put more money into your TFSA than the limit), then you can move it out. But the balance will only be reset (so you're contribution room restored) in the beginning of the next year.

[@ivanmolinachavarria308]

⁠​⁠​⁠@@LivinginCanadano no, I reach the room limit in TFSA for this year, but not over contribute yet, I have some money in regular high interest savings account what account you recommend to place my money

[@LivinginCanada]

The RRSP is a good choice, if your current income is relatively high, and you foresee earning less by the time you retire and withdraw the money. Just in case you're planning to buy your first home soon, then the FHSA is a better choice!

[@luffydmonkey9400]

Thank you for the great videos, just wondering if you could do a video on the Canadian government bonds? Speaking of not putting all the eggs in one basket, have you heard a theory called "All Weather Portfolio" by Ray Dalio, this might be something good to share.

[@LivinginCanada]

Thanks for the video ideas!

[@luffydmonkey9400]

@@LivinginCanada the least I can do, ur content is extremely helpful for people who wants to get into investing without knowing anything. Everything is really easy to understand and nanny detailed. I wish I had something like this I first stepped into the investing world back then. lol thank u once again!

[@peterwong5898]

How to invest in High yield ETF in US funds ?

[@siantuang1]

Hey how are you? Greeting from Ottawa, ON! which city are you living? My platform is NDAX. Have you report to CRA every year? Do you still use NDAX and what do you think about it?

[@geraldramos5770]

Super great video!! ❤❤❤

[@LivinginCanada]

Thanks, happy to hear!

[@geraldramos5770]

@@LivinginCanada you are pretty and amazing! 😍

[@ICICUNO]

Short term investments will be taxed more right?

[@sweetleybailey]

Really good advice.

[@LivinginCanada]

Glad you think so!

[@diannaman1918]

Do you have a video on how to use wealth simple app?

[@LivinginCanada]

It's coming out next week Friday, stay tuned! :)

[@zeroic2]

Is it just me, or do you look strikingly similar to Constance Wu from Fresh off the boat.

[@thomaszied]

Thanks alot❤

[@SivaKumar-kh3rb]

Hi, really good intro video for beginners 👍

[@Dannytube46]

great video thanks

[@net-42]

gah.. keeping that water break in the video making me drink water too.

[@funspectrum68]

Thanks for your information. I'm planning to go back Canada and I'm planning to do trading too, but not sure if I do investment... Honestly I keep losing trading on demo, but we can always start with small amount of money, I have fear of losing money in Canada 😅I think I will try trading one year first in Canada see how it goes 😅 I might have to ask bank about RRSP or others, I'm quite confused about tax system in Canada...I don't want to pay many taxes

[@LivinginCanada]

Glad if it was useful!

[@josephfajardo8192]

You’re cute ❤️😇 new subscriber here

[@JayB-JayB]

Great advice!😊👍

[@LivinginCanada]

Thanks! :)

[@forte7991]

Are you a qualified financial planner 😊

[@orfatron]

What the hell are we doing in this country ? 😅. The taxes are ridiculous , owning a buisness is horrible. The canadian culture is gone , the medical system and every other system is broken , the politics are nuts and do we really like the horrific winters ? . The canadian economy is in the gutter, and we don't understand that everything runs on the United States . I am slowly moving my assests away and packing my bags for the united states of America 🇺🇸. At least there when your asks what are you ? They answer "I'm american". Here we identify with our race not being proud of being candian. Good luck to everyone, God bless

[@sanaall5920]

How exactly will i be taxed say i invested US stocks on either TFsa or RRsp. And how about the cost to hold it for example.

[@ADobbin1]

If the investment pays dividends you will see something called a withholding tax. Essentially this is an income tax for non US Citizens who have us holdings that generate an income and is taken out immediately when the dividend is issued. There is generally is no need to claim it on your taxes. As far as TFSA I believe this tax is still taken on us holdings though I am uncertain. I expect RRSP's also have to pay it but because it is a fund and not a stock holding you will never see the tax. The fund management company would see it instead. Regarding capital gains taxes I have no idea how that works for US stocks but I believe they are paid in canada not the US as your account is canadian. Exchange rate applies I think. I would suggest you talk to a tax accountant to verify all this as I'm not an expert on the subject and may be mistaken on some or most of it.

[@alexanderh.999]

I am watching this video because she is cute. Lol😂

[@MdZares]

I want to come Canada from Indonesia can I come there, can you help me?

[@plantsandpom]

Canada is not accepting immigrants. Too crowded and no job.