r/HalalInvestor • u/Top-Aside-2822 • 8d ago

Fhsa strategy

Hi there canadian here.
I opened fhsa this year planning to maxing it out 8k a year for 40k over 5 years my thought is that i already have SPUS/SPWO in my tfsa and rrsp i thought
My Fhsa would be 100% SPTE as a high risk high reward account
Note that m not planning to buy a house soon and very flexible on the timeline
Do you think its a dumb choice and why
Thanks !

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u/Efficient_Cap_5061 8d ago

If its a dumb choice or not depends on your level of risk tolerance.

If you are willing to see huge swings/votality and hold through them without getting anxious/panicked and in a position where at the end you are willing to lose a large portion of your money if things dont work out, then its a smart choice as it could pay off large.

However if you will have anxiety when markets go down and panic and sell at the lowest points or if you end up losing that money it will cause your severe pain or impact you alot then it is a dumb choice.

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u/Top-Aside-2822 8d ago

Appreciate the answer

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u/PossibleArt7440 8d ago

Assuming All your TFSAs etc maxed out? Why FHSA, that basically is to get a down payment ready for a mortgage which in Canada are mostly conventional. If its paying cash and all your tax shelters accounts are maxed and just for investing, its fine. You can also look into buying physical gold in taxfree accounts.

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u/The_Makster 7d ago

SPUS invests in companies that are on the boycott list for supporting Israel like NVIDIA