Investing 101 for Beginners

Step-by-step guide

1. 1

   Understand the basics

   Investing means buying assets (stocks, bonds, ETFs) that can grow in value over time. It's riskier than savings but offers higher returns long-term.

2. 2

   Start with a TFSA or RRSP

   Tax-Free Savings Accounts (TFSA) let you invest without paying tax on gains. RRSPs reduce your taxable income and are better for retirement.

3. 3

   Choose low-cost index funds

   Index funds track the whole market and have low fees. Robo-advisors like Wealthsimple make it easy to start with $1. Avoid picking individual stocks at first.

4. 4

   Invest regularly and stay patient

   Set up automatic contributions even if it's just $25/month. Don't panic during market dips—investing works best over 5-10+ years.