Ever wonder why some people throw their money into crypto like it’s Monopoly cash, while others panic at the idea of switching from a savings account to a GIC? It all boils down to one thing: risk tolerance. Understanding your risk level isn’t just for investors or finance nerds—it’s something everyone should know. Because here’s…
In the last article, I asked you to think about how you would invest your TFSA for the long term. Would you go all-in on stocks? Stick with mutual funds? Mix it up with ETFs? Let’s now dive into some practical strategies—especially for those who are new to investing. If you’re just getting started and not…
So, you’ve got a TFSA. That’s awesome—seriously, well done! It’s one of the most powerful tools Canadians have for growing their wealth tax-free. In my last post, I broke down the basics of the Tax-Free Savings Account—what it is, how it works, and why it’s not just a savings account. If you missed that one,…
Introduction: “You’ve already learned about the power of Tax-Free Savings Accounts (TFSAs) and their vital role in your financial strategy. Now, let’s turn that knowledge into action. This guide will walk you through the simple process of opening a TFSA with Wealthsimple, a platform that makes investing accessible and efficient for Canadian residents.” Why Wealthsimple…
Introduction: Okay, let’s be real. “Tax-Free Savings Account” sounds about as exciting as watching paint dry, right? Wrong! This little acronym, TFSA, is your secret weapon to building serious wealth in Canada. Imagine: your investments growing, and not a single penny going to the taxman. Sounds good? Let’s dive in and turn you into a TFSA…
If you are Canadian resident and interested in investing, then you should know TFSA. It is a amazing account that was introduced in 2009 by Canadian government to help people save money. So what! what’s the catch here? The catch is that the money in this account remains tax free. Read further. A Tax-Free Savings…
The most important thing that I could suggest someone with respect to wealth building is start investing early. You will be amazed how power of compounding will make you wealthy if you start early. What is Compounding? Compounding is when your investments generate returns, and those returns start earning even more returns. Over time, your…
In 2000, twins John and Jane were born. For their 10th birthday, their father gifted them a unique present: $500 each, with the promise of another $500 every year until they turned 25. John, a social butterfly, decided to spend his annual gifts on birthday celebrations with friends. Jane, however, took a different approach. She…
My Journey in the Stock Market: The stock market has always amazed me, and I know I’m not alone—millions of people share this fascination. But here’s the hard truth: 99% of people who try to navigate the stock market struggle. I was one of them for most of my investing journey. They say mistakes are the…