TD Reddit Mentions | ChartExchange

> 1. Which platform should I use for Canadians?

Wealthsimple is fine. If you want other options, Questrade or something more well-known like TD Easy Trade / Scotia iTrade / RBC Direct are fine too.
> 3. Which stocks should I begin with? Also, should I invest in USD or CAD?
> 4. Should I buy individual stocks, or is there another approach?

You should not buy individual stocks, you should buy index funds / ETFs. You should invest in Canadian funds that trade on the TSX in CAD, even when the funds you buy track US companies.
> 6. What are ETFs, INDEXs, and are there any other investment categories to consider?
When you say what are INDEXs, I assume you mean "what are index funds?"

Let me answer this with three parts.

First, what are mutual funds? Mutual funds are an alternative to buying individual stocks. Buying individual stocks can be very high risk, because individual companies can do all kinds of crazy shit. But, buying stocks is still an awesome investment. What do you do?

The solution is to get a bunch of people to get together and buy a ton of different stocks, then put those all in one pie and slice that pie up so each person has a piece. Now, instead of having a share of one company, you have 1/500th of a share or 500 companies.

Great, but what stocks do you chose?

The old method was to pay someone to pick the stocks. The downside of this is that it wastes a ton of your money paying that person. And, often, the stocks they pick don't happen to be so brilliant. People noticed that many mutual funds did worse than indexes, like the S&P 500.

Hence, index funds. An index fund is a mutual fund where, instead of paying someone to pick the stocks, it is just automatically built to track an index like the S&P 500. There's no thinking or theory, so you pay much lower fees, and the funds tend to do well.

What is an ETF? An ETF is an Exchange Traded Fund. This means, basically, that instead of being bought and sold like a traditional mutual fund, an ETF is bought and sold on the stock market. In your case, XEQT, VEQT, VFV and VSP are all traded on the TSX, just like stocks. This makes them really fast and easy to both buy and sell.
> 2. Is my starting amount sufficient? If so, how should I continue adding to it weekly or monthly?
> 5. Let’s say I invest in the S&P 500. After a month, how much should I add to it, and how much should I allocate to the other stocks I own?
> 7. After investing $1,000, should I add $500 per month, divided equally among all my holdings? Or less would be okay ?

You're thinking about this all wrong / that's not how any of this works.

How it works is, the more money you put in, the more rich you will be when you retire. Put in as much money as you want / as much money as you can afford, and let it cook for 20, 30, or 40 years. The more money you put in, the richer you will be later. The difference between $400 a month and $500 a month is, if you do $500 a month you will be richer when you retire.

How different would it be? Let's say you invested in XEQT and made an average 8% return over 30 years.

If you start with $1,000 base and put in $400 a month, after 30 years you'll have $611,000. If you put in $500 a month, after 30 years you'll have $760,000. If you put in $700 a month, after 30 years you'll have $1,061,000.

> 8. What other factors should I consider as a beginner investor?

Don't buy memecoins. Don't buy individual companies stock. Don't try and make money to spend in the next 5 years. Put money in now so you can retire rich.

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