Thinking about buying your first ETF or stock? Nice. Below is a clean, step-by-step guide to open a self-directed account at Wealthsimple and Questrade—two of the most popular choices for Canadian DIY investors.
They’re savings/investment accounts the government registers with the CRA, which gives them special tax treatment (e.g., tax-free or tax-deferred growth). Two core ones for individuals are the TFSA and RRSP.
Compound interest might not be the most exciting topic, but understanding it is one of the most powerful tools you have for building wealth. Start investing early, be consistent, and let the power of compounding work its magic. Your future self will thank you!
Mindset is the first piece of the puzzle. If we want to make fundamental changes, we must have the right mindset. Without it, we cannot get that far, and we are here to run a marathon called life.
Money is present in our life whether we want it or not. The good part is that it doesn't need to be hard.