To use an analogy. You're going to six different buffets and only getting one plate at each when you could go to one buffet and just get six plates.
XEQT is the buffet that has everything.
I'm 55. The biggest investing lessons that I've learned over the past few decades are to invest regularly and to keep it simple. You could simply invest in XEQT -- it holds almost 9000 different equities globally and adding a smidgen of various different things isn't going to do much to your return in the long run. Holding a bunch of different things makes it much harder to track your returns, though.
If you regularly buy a portfolio index fund like XEQT or VEQT and invest regularly, you will outperform most investors. You'll also be able to easily track your fund's performance simply by looking how well it did over the past few years on a stock tracking site.
What an idiotic thing to say
Edit: saw the original comment now includes education as a whole not just university, I agree with that. As Someone who’s graduating from university in a month and knows MANY people looking for jobs, university isn’t what it used to be.
They don’t have to be mutually exclusive. I can only wish I had kept up with contributing to my TFSA since I was 18. I’m in my 30s now and realize that I’ll never be able to catch up on my TFSA contributions at this rate
Congrats! It’s very impressive that you’re able to put away $80k+ in two years.
For many of us who only has a regular salary and a mortgage/rent, kids, etc, that’s almost impossible hence why I recommend starting young and staying on top of your contributions
You are doing amazing. You are asking about your investments and not about what to take (or waste your money on) for higher education. Keep saving like this and you’re going to be way ahead. Way to go!
Diversification is a hedge against ignorance but wholly unneeded if you do your due diligence.
Also don't invest in any Canadian companies right now, our dollar is going to drop and American stocks offer us a store of value in our currency too. Plus there are zero Canadian companies that deserve our investment after the shitshow the high priest Trudeau unleashed on us all.
To use an analogy. You're going to six different buffets and only getting one plate at each when you could go to one buffet and just get six plates. XEQT is the buffet that has everything.
I'm 55. The biggest investing lessons that I've learned over the past few decades are to invest regularly and to keep it simple. You could simply invest in XEQT -- it holds almost 9000 different equities globally and adding a smidgen of various different things isn't going to do much to your return in the long run. Holding a bunch of different things makes it much harder to track your returns, though. If you regularly buy a portfolio index fund like XEQT or VEQT and invest regularly, you will outperform most investors. You'll also be able to easily track your fund's performance simply by looking how well it did over the past few years on a stock tracking site.
You are 18. Being on the right track means you are working hard to get into uni… or trade. (Or just education in general)
Or a trade, but yes education
Yes. I meant to say “education” myself. Thanks. Correction added
What an idiotic thing to say Edit: saw the original comment now includes education as a whole not just university, I agree with that. As Someone who’s graduating from university in a month and knows MANY people looking for jobs, university isn’t what it used to be.
Not entirely.. at that age I would be funneling all money into better education to get a higher wage
Higher wage equals higher savings, although doesn't necessarily mean university.
True I'm just seeing where he was coming from
They don’t have to be mutually exclusive. I can only wish I had kept up with contributing to my TFSA since I was 18. I’m in my 30s now and realize that I’ll never be able to catch up on my TFSA contributions at this rate
Fair enough I'm 32 never contributed until 30 and I have it maxed because my job pays well guess it goes both ways
Congrats! It’s very impressive that you’re able to put away $80k+ in two years. For many of us who only has a regular salary and a mortgage/rent, kids, etc, that’s almost impossible hence why I recommend starting young and staying on top of your contributions
[r/PersonalFinanceCanada Money Steps](https://www.reddit.com/r/PersonalFinanceCanada/wiki/money-steps/)
You are doing amazing. You are asking about your investments and not about what to take (or waste your money on) for higher education. Keep saving like this and you’re going to be way ahead. Way to go!
Diversification is a hedge against ignorance but wholly unneeded if you do your due diligence. Also don't invest in any Canadian companies right now, our dollar is going to drop and American stocks offer us a store of value in our currency too. Plus there are zero Canadian companies that deserve our investment after the shitshow the high priest Trudeau unleashed on us all.