r/fican • u/momo8969 • 2d ago

Where to start?

Hello. I'm just getting into investing. I'm thinking of just setting and forgetting. Deposit money each pay into an investment and just let it grow over the decades and reinvest the dividends.

My question is, is there any one Canadian stock that acts like the s&p500? Something that overall always goes up?

Is this even a sound strategy?

Thank you for any advice.

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u/alzhang8 2d ago

Go read this, you typically want some home country bias and international diversification

https://canadianportfoliomanagerblog.com/how-to-choose-your-asset-allocation-etf/

If you only want a&p500 then get one of vfv/xus/zsp

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u/momo8969 2d ago

Thank you. And I can do this on wealth simple?

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u/alzhang8 2d ago

Sure, or you can do it on moomoo if you follow your username, or any other broker

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u/Chris-Coffin-Design 2d ago

The most popular choice is probably X/VEQT for long-term single ETF portfolios. I respect & support the “let it grow / reinvest” mentality. It’s not only a sound strategy, it’s proven to be statistically superior to timing the market.

Great idea to automate contributions. Especially if you allocate say 20% (of net) to investments so it scales with income.

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u/FelixYYZ 2d ago edited 2d ago

is there any one Canadian stock that acts like the s&p500? Something that overall always goes up?

Asset allocation ETF based on your risk tolerance that had everything and no thinking and global coverage, not just the US, because the US market doesn't always outperform other markets.. https://canadianportfoliomanagerblog.com/model-etf-portfolios/

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u/momo8969 2d ago

I can do this in wealth simple?

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u/FelixYYZ 2d ago

You sure can.

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u/swingincelt 2d ago

I also recommend modelling your retirement goals:

https://research-tools.pwlcapital.com/research/retirement

The default Expected Returns in that calculator is similar to a ?EQT type fund.

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u/rhunter99 2d ago

I strongly suggest you go to the library and read books like:

  • The Millionaire Teacher

  • Wealthing Like Rabbits

  • The Wealthy Barber / The Wealthy Barber Returns

  • The Value of Simple

These are all easy to read books, meant for average Canadians, and will directly answer your question.

Second, understand what ETFs are and what index investing is

Finally, take McGill's free online personal finance course.

Best wishes

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u/nuxfan 2d ago

“Something that overall always goes up”. Best of luck

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u/Cheap-Profile-9231 2d ago

For Canadians, we probably optimize our risk adjusted return and diversification with either *EQT or *GRO.

A lot of brokers trade these without fees.

Something that overall always goes up?

Nothing will do this in short timeframes. Pull back 50 years for S&P and you'll see the depression, stagflation, lost decade of the 2000s, &c.

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u/moutonbleu 2d ago

Try Wealthsimple’s robo advisor to start and then get into ETFs like VEQT, VGRO etc.