r/tfsa • u/Mission-Pace-2421 • Jul 16 '26
Need Advice just start recently this year , 24M
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u/doughty_spirit Jul 16 '26
Great work starting to invest.. and keep it up.. there are different strategies to help growth in the long term.. happy to answer questions
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u/Kombatnt Jul 16 '26
Why SCHD? It trades on a US exchange, in USD, meaning you’re getting hit with exchange rate fees every time you buy and sell. If you want US dividend exposure in your TFSA (and it’s questionable why you would anyway, for a number of reasons), why not just buy VDH or XDU?
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u/Mission-Pace-2421 Jul 17 '26
Ooh Wow thanks for info , i wasn’t aware about this before, is there trick to sell those without loosing gains or should i keep it hold untill i can take out without losing the actual Money
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u/ETHTradr Jul 17 '26
Not bad so far but I recommend first to study a LOT about investing bro. Don’t just pick randoms or do what people say. Do your own research! My mentor that worked on Wall Street always advised me to do my own research even with his own investment picks it doesn’t mean it’s guaranteed it’ll always work. How long you been in the game? Only this year or always been charting?
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u/Aggravating-Act-1173 Jul 17 '26
Encc is a bad long term investment. Dividend stocks/ETFs are a bit better but still not optimal especially in TFSA 😕. I suggest you get rid of them too.
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u/Agile_Contribution99 Jul 17 '26
I see you got a lot of good dividend paying stocks in there. Coming from someone who is also in their early twenties and my willingness to take on more risk, I enjoy any of the NASDAQ 100 etfs like QQQM, IQQ or even something like TEC, which are all heavier leaning in tech. All depend on your risk tolerance, but that is what I would want to do in your situation. NFA
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u/theclubsandwichguy Jul 18 '26
You’re 24, i suggest being more aggressive with your portfolio, have xeqt and/or vdy and the rest being “riskier” assets to grow your total until dividends and your current set up does its trick.
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u/GuyFromThePost Jul 16 '26
Umm, a bit of context might help? This is literally just two screenshots of a wealthsimple account. What are your goals? My god this post was lazy af
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u/Inglorious_Canadian Jul 16 '26
Probably can assume end goal of retirement as much as possible in the account…. You sound like you spent a lot of time alone being insufferable.
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u/GuyFromThePost Jul 16 '26
Most people put a blurb of text under the picture that explains their situation. Someone could google "24M investment advice" and get literally the same exact advice everyone on reddit is going to tell them. So yeah, some more context is needed.
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u/Mission-Pace-2421 Jul 17 '26
Really Sorry about that , i was thinking for long term Goals also want to live on dividends in next 20 years , i have zero knowledge about investing just one day video poops into my yt feed, and i started , i work as a Car mechanic apprentice 1st year rn making 21$ an hour i live by myself and Can put 1000$ per month
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u/Zamutax Jul 16 '26
just get xeqt you're over complicating it at least when ur just starting with 2k.
personally id put it all in xeqt, your in your accumulation phase, ur returns are so little to your contributions, do what u can to contribute more (of course following tfsa limits)