How To Invest Your First $1,000 In The Stock Market - Step By Step Investing For The First Time

[@stephandden]

If you weren't ready to invest before, you are now! Don't forget to check out our recommended investment platforms linked above. 🙂

[@Kaz_Cream]

is it safe for me to put in my sin number in wealthsimple

[@yxmichaelxyyxmichaelxy3074]

Get to recommending! Chop chop! Lots of cash to invest!

[@pigsonwings]

people need to learn these things in school. i’m so glad you guys are educating us like this

[@stephandden]

They really do! Thanks for watching 😊

[@nicolecruz7561]

Let me just say this channel is completely underrated. There should be millions of people watching. I’ve been watching for about 1.5-2 years and I always look forward to the next video. The content is ✨Gold✨ Because of you guys I started investing early and have enjoyed seeing your journey.

[@stephandden]

Thank you so much, Nicole! We appreciate you, and so glad to hear you started investing! 😊✨

[@deepseahorses]

Thanks for creating Canadian specific content. It's so helpful!

[@stephandden]

Of course! We're happy to hear that it's helpful 😊

[@Jess101479]

You both explain everything so clearly. I did invest $100 just to try it out.

[@stephandden]

Thanks, Jessica! 😊

[@SouLife_Chats]

How is it going @Jess101479

[@ruman2565]

I'm coming to Canada as an international student and am really interested in investing stuff. I'm really grateful I found you guys. Thanks for your efforts. 🥰🥰

[@stephandden]

We're so glad you're here! 😊

[@Ruth-AnneKlassen]

This was a concise summary of what I've heard about passive investing, but wasn't too confident about. Thanks you two!

[@laurenkines6320]

It’s very overwhelming to get started and I’m very lacking in the knowledge department on money and stuff so these videos are definitely gonna be apart of my routine hah

[@stephandden]

Hey Lauren! It's definitely overwhelming to get started. But, we love hearing that - hopefully our videos give you a strong starting point 😊 let us know if you have any questions!

[@joemarchant8963]

@stephandden ...could you talk about what happens if you one day you need to withdraw all your money in case of an emergency ? are there fees ?

[@mazwrld]

I bit the bullet and invest just right now.. Thanks for putting me on. Also the production on these vids is crazy good!

[@stephandden]

Amazing! And thank you 🙌🏿🙌🏻

[@IslandGirlSue]

Love your content! Do you have a demo video of the DYI approach on Wealthsimple? I think I saw you have a step by step demo for the robo advisor version but one for the DYI approach and how to automate the monthly transfers/ buying would be greatly appreciated 🙏🏾

[@alyciamg]

but why use the tax free saving accounts first(and max those out? rather than the taxable ones ? approx 11:30

[@Dor_alien]

It's so you don't have to pay tax on your investments in a TFSA! Might as well use as much tax free room as possible first

[@t.lynch-major8521]

From a fellow Canadian, thank you for creating this video!

[@stephandden]

Thank you for watching! 😊

[@tigrayalula9502]

I was waiting for such kind of tangible video. Thank you folks!

[@stephandden]

Thanks for watching! 😊

[@Sirhlande]

Thanks a lot ! I like your Ramit sethi attitude 😊 was looking for the Canadian version and I think I’ve found it ! You’re great ! I have a question though, I do ETFS on my French bank account and I wonder if I should open one in Canada or just keep one and continue investing on it ? Thanks for your time 😊

[@nickistlouis]

Very clearly explained. Thank you!

[@stephandden]

Thank you for watching! 😊

[@angelabrown9141]

How did I miss this video ?? Such a good video !

[@stephandden]

Thank you! 🙌🏿🙌🏻

[@being.compiled]

So if "time in the market" out performs "timing the market" and I have $6000 ready to rock my TFSA, I deposit it all at once January 1st right, no need to stagger it into tiny recurring payments throughout the year?

[@hhewitt4772]

Great job on the video guys keep them coming. I will forward this one to my kids to start investing time is on my kids side. Thank's 💯💥

[@stephandden]

Thank you! 😊

[@ashton2618]

I know this video is over a year old now, hoping you can still be of help though! I can’t seem to make a choice on which brokerage (online/bank) to go with. On one hand I bank with a credit union which uses Qtrade. I just haven’t heard the greatest things about it. Starting with anything say qtrade is probably still better than nothing for now until I learn more? Or would you hold off and just save my money in my savings until I’m more knowledgeable? I also don’t mind the idea of my bank being there to answer any questions I may have. Is Qtrade that bad?

[@stephandden]

Hey Ashton! 😊 After taking a quick look at their website - we see that they have a quarterly administration fee and account specific fees as well. This seems a bit odd considering that even the big banks have eliminated most of these types of fees. In general, Wealthsimple is a great beginner friendly brokerage that has no fee trading if you decide to go down that path. Have you decided if you want to go down the robo-advisor or DIY path? I would recommend you watch our videos on wealthsimple and in particular Steph most recent ‘Wealthsimple Invest Portfolio Results After 3 Years’ video where she talks about what she’s learned so far and some of the changes she’s made. Hope that this points you in the right direction. Also, you can sign up for our newsletter via our website where we’ll be sharing updates on a step by step investing course thats coming soon.

[@mirandaspruyt6117]

I needed this video! Thank you!

[@stephandden]

Thanks for watching! 😊

[@cheettaah]

Love your videos. Well done 👍

[@stephandden]

Thank you! 😊

[@mazwrld]

Dennis that sweater the fire??? Link??

[@stephandden]

Thank you! I got it in Kenya 🙏🏿

[@yxmichaelxyyxmichaelxy3074]

I have mutual funds out of the wazoo. Problem is, they are not insured.

[@stacy-annmorgan6685]

Would u ever make a video on GIC’s. Trying to put some money in there. Some of the big bank platforms are so hard to understand. RBC has me everyday ready to switch only because they are my longest credit standing. Also what about KOHO bank account.

[@nataliesmith4012]

is there any platforms you recommend investing in Australia

[@tinamiller7345]

Thanks for the video! I’ve been watching for a couple years now and this was a nice recap. I always feel hesitant with US index funds, as I get confused by the conversion rates and fees from CAD to USD when buying into these funds. Would love a video on this piece, or a link if you already have one. :)

[@stephandden]

Hey Tina! Thank you 😊 good point re: the US funds with conversion rates/fees - there's a good article from Young & Thrifty called 'Sorting Out Canadian Listed ETF's vs US Listed ETF's' that gives a great overview! We can talk about it more in future videos, too.

[@armantahaboor7142]

Hi Steph and Den, agreed with Tina. Video on CAD vs USD conversion would be very helpful

[@tj95premeboy69]

Just subscribed to you guys 🎉

[@camillegroulx7420]

in Wealthsimple TFSA, can I sell and buy stocks as long as I am inside the tfsa account? I am not supposed to use the wealthsimple tfsa account for day trading, right??

[@julsh9776]

TFSAs are registered accounts intended for investing and growing your savings over time.” If you buy and sell investments frequently inside a TFSA, the CRA “may consider your account to be ‘carrying on a business,'

[@camillegroulx7420]

@@julsh9776 Thanks for the explanation. It helps me understand.

[@ydesign7661]

Would you invest first or pay a relatively mid amount of consumer debt ?

[@raymondhoho]

Great video. Very informational. Thank you for this. :^)

[@samanchhabra9237]

Hands down..Your best video so far! Great job guys!!

[@stephandden]

Thanks so much, Saman! 😊

[@imhotep1613]

Denny, how can I contact you, man? I need some help with getting my investment journey started

[@stephandden]

Hey! We’ve got a waitlist on our website for our Simple Investing course that’s coming soon. You’ll be able to ask me and Steph questions directly once it launches. Check it out 😊

[@imhotep1613]

@@stephandden Thanks .I will . What's your website again ?

[@autobotdiva9268]

index funds and vanguard!!

[@stephandden]

🙌🏿🙌🏻

[@paujee]

8% return? How?

[@Jott_14]

Can you guys do a video how to invest with Wealthsimple step by step , You guys explain good

[@thivyanagamuthu6963]

How would I determine my risk level if I want to invest with robo advisor ?

[@stephandden]

They help you at the start by asking you a series of questions 😊 there are also risk level tests out there (Vanguard has one for free online!). Lastly, we do have a video talking about this from earlier this year - called "Why I'm Investing In 100% Equities (No Bonds)".

[@gorillaglue458]

What are your opinions on TSLA for exposure to growth regarding Artificial Intelligence as well as the etf’s ROBO and BOTZ?

[@paulbarnaba4236]

I’ve been watching your videos for about a year and being in Gen Z the two of you have been very educational! What high interest savings accounts would you use in Canada?

[@stephandden]

Thanks for watching, Paul 😊 we use the EQ Bank high interest savings account, they just increased their interest rate to 1.50%! We have a link in our bio

[@eminem3251]

I played with python code. This is well put together. Now I’m building strategies with pluto io as it is a lot more easier for me and faster to see results without spending a lot of time. I also tried desk, etc. with little wins.

[@stephandden]

Thanks for sharing!

[@eleritreano7248]

are you guys interested in cryptos ?

[@Keepcool233]

any idea plz why does wealthsimple require SIN number ? is it safe to provide it