RESP
WisdomTree U.S. ESG Fund
stock NYSE

You can put your investments into several different types of financial accounts. You can hold stocks, high-interest savings accounts, GICs, mutual funds, index funds, or individual stocks in these accounts, depending on your choice:
First, there’s the TFSA (Tax-Free Savings Account), which can be used for all sorts of goals. The great thing about a TFSA is that if you earn a return, you won’t pay taxes when you withdraw your investment. You accumulate contribution room every year starting from the year you turn 18. You can see how much contribution space you have on the Canada Revenue Agency’s website by logging into your account. The amount is updated based on the previous year’s contributions arround March 1st. If you put too much money into your TFSA, you’ll have to pay a penalty of 1% per month on the excess amount.
Second, there’s the FHSA (First Home Savings Account), which is designed for buying a property. The FHSA combines the advantages of a TFSA and an RRSP. Contributions reduce your taxable income by the amount invested, and the gains are also tax-free. You can contribute up to $8,000 per year, with a lifetime limit of $40,000. You can keep the FHSA open for 15 years; if you haven’t bought a property after that time, the FHSA is converted into an RRSP.
Next, there’s the RRSP (Registered Retirement Savings Plan), which is meant to fund retirement. You accumulate contribution room every year starting from when you begin working. RRSP contributions lower your taxable income and can entitle you to a tax refund. You can check your available contribution room on the CRA website by logging in. Usually, you accumulate a contribution room of 18% of the previous year’s earned income, up to a maximum written here: [https://www.canada.ca/en/revenue-agency/services/tax/registered-plans-administrators/pspa/mp-rrsp-dpsp-tfsa-limits-ympe.html](https://www.canada.ca/en/revenue-agency/services/tax/registered-plans-administrators/pspa/mp-rrsp-dpsp-tfsa-limits-ympe.html)
There’s also the RESP (Registered Education Savings Plan), which is used to fund your children’s post-secondary education. Earnings in the RESP are tax-free while invested but are taxable when withdrawn. Since the withdrawals are in the child’s name, and they will likely have a lower income than their parents, the tax payable will probably be lower.
Finally, if you’ve maximized all your registered accounts, you can invest in non-registered accounts. These are subject to capital gains tax. A capital gain is the increase in the value of your investment—for example, if you invest $2,000 and sell for $2,500, you have a capital gain of $500. The taxable portion of the capital gain is based on the 50% inclusion rate, so only $250 would be taxable out of the $500 gained.
And you can also take McGill University’s free personal finance course—it’s made up of short 5–10 minutes videos that talk about budgeting, debt, real estate, investments, etc: [https://mcgillpersonalfinance.com/](https://mcgillpersonalfinance.com/)

You can put your investments into several different types of financial accounts. You can hold stocks, high-interest savings accounts, GICs, mutual funds, index funds, or individual stocks in these accounts, depending on your choice:
First, there’s the TFSA (Tax-Free Savings Account), which can be used for all sorts of goals. The great thing about a TFSA is that if you earn a return, you won’t pay taxes when you withdraw your investment. You accumulate contribution room every year starting from the year you turn 18. You can see how much contribution space you have on the Canada Revenue Agency’s website by logging into your account. The amount is updated based on the previous year’s contributions arround March 1st. If you put too much money into your TFSA, you’ll have to pay a penalty of 1% per month on the excess amount.
Second, there’s the FHSA (First Home Savings Account), which is designed for buying a property. The FHSA combines the advantages of a TFSA and an RRSP. Contributions reduce your taxable income by the amount invested, and the gains are also tax-free. You can contribute up to $8,000 per year, with a lifetime limit of $40,000. You can keep the FHSA open for 15 years; if you haven’t bought a property after that time, the FHSA is converted into an RRSP.
Next, there’s the RRSP (Registered Retirement Savings Plan), which is meant to fund retirement. You accumulate contribution room every year starting from when you begin working. RRSP contributions lower your taxable income and can entitle you to a tax refund. You can check your available contribution room on the CRA website by logging in. Usually, you accumulate a contribution room of 18% of the previous year’s earned income, up to a maximum written here: [https://www.canada.ca/en/revenue-agency/services/tax/registered-plans-administrators/pspa/mp-rrsp-dpsp-tfsa-limits-ympe.html](https://www.canada.ca/en/revenue-agency/services/tax/registered-plans-administrators/pspa/mp-rrsp-dpsp-tfsa-limits-ympe.html)
There’s also the RESP (Registered Education Savings Plan), which is used to fund your children’s post-secondary education. Earnings in the RESP are tax-free while invested but are taxable when withdrawn. Since the withdrawals are in the child’s name, and they will likely have a lower income than their parents, the tax payable will probably be lower.
Finally, if you’ve maximized all your registered accounts, you can invest in non-registered accounts. These are subject to capital gains tax. A capital gain is the increase in the value of your investment—for example, if you invest $2,000 and sell for $2,500, you have a capital gain of $500. The taxable portion of the capital gain is based on the 50% inclusion rate, so only $250 would be taxable out of the $500 gained.
And you can also take McGill University’s free personal finance course—it’s made up of short 5–10 minutes videos that talk about budgeting, debt, real estate, investments, etc: [https://mcgillpersonalfinance.com/](https://mcgillpersonalfinance.com/)

I’m very new to investing and would really appreciate some guidance.
Currently I have:
$20K in TD Comfort Balanced Growth Portfolio — MER around 2.07% ( This is RESP for my son he is 7 currently, I want it to grow at its best rate )
$20K in TD Comfort Growth Portfolio in my TFSA — MER around 2.18%
$40K in a GIC, which matures in January
I also have another $80K that I’m planning to invest using my spouse’s TFSA contribution room
So I’m looking at around $160K that I need to decide how to invest.
I recently learned about MERs and have been reading Reddit. A lot of people seem to recommend moving away from TD mutual funds because the fees are high and using lower-cost ETFs/index funds instead.
I’m honestly very new to investing and don’t understand ETFs, asset allocation, or how to build a portfolio myself.
I tried looking for a financial advisor who could help me choose and set everything up, but the advisors I found were charging $3,000+ for a financial plan, which is more than I want to spend.
What would you recommend for someone in my situation?
If I move away from TD Comfort funds, what are some simple, low-cost options I should research? Should I consider an all-in-one ETF, a robo-advisor, or something else?
I’m looking for a relatively simple “set it and leave it” approach rather than actively trading.
Any advice or resources for a complete beginner would be greatly appreciated.