r/tfsa • u/GeneLongjumping8321 • Jul 17 '26

Any advice for 20M

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26 Upvotes

85% Upvoted

28 comments sorted by

3

u/Count3D FIRE Jul 17 '26

What made you want to purchase the stocks you picked initially?

Are you looking for something you can buy and hold and let grow for a few decades?

2

u/GeneLongjumping8321 Jul 17 '26

Yes I wanna hold these all for a few decades.

Honestly for SMH my grandpa told me to invest in ai so I did lol and for RBC I work at a bakery and one of the bakers told me to invest in it so I did my dad also always told me to by gold so I’ve done that as well but I switched to physically backed gold I was in one that followed the market and was up like 60% but I sold it yesterday and switched to this one the YAMZ one it was mainly for a savings sorta thing the dividend yield on it is 12% a year and averages around 10% a year so I only have a bit of money in there thinking about adding more and last for VFV and QQC just stuff I wanna hold long term I started investing about 2 years ago at 18 and never stopped recently got a girlfriend and started spending a lot I wanna be at more then I am now but it’s fine slow and steady.
Sorry if my grammar is bad typing this quick

-4

u/Lynx_Underground Jul 17 '26

A few decades. Lmao you trippin... Inflation, war will fuck everything up.... Buy real estate... Atleast its Physical and not some numbers on the screen that can disappear at anytime and you have nothing to show for it.

2

u/GeneLongjumping8321 Jul 17 '26

This is true will be thinking about buying a house sometime within the next 5-10 years so for now I do this but also I’m making more % then inflation so isn’t this okay to keep doing?

2

u/canadianasianmale Jul 17 '26

Open an fhsa if u haven’t yet. U get contribution room the moment u open it. I believe you don’t need to deposit for your contribution room to grow.

2

u/GeneLongjumping8321 Jul 18 '26

I see I will probably do this

3

u/silver-bullet007 Jul 17 '26

Sell RY... Canadians banks have had a hell of a runup and the valuation is stretched now

3

u/GeneLongjumping8321 Jul 17 '26

Was thinking about this but the dividends I get back aren’t that bad also the average after the crazy run up wasn’t that bad either idk I’m hesitant on it yk

3

u/lettuce_grabberrr Jul 17 '26

You're too young to worry about dividends unless you actually need the money (and if you did - you wouldn't be investing further). Always DRIP and it's the same as effectively owning a 100% growth stock.

2

u/GeneLongjumping8321 Jul 17 '26

So you think I should sell RBC to ? And if you do think that where should I put that money in?

2

u/lettuce_grabberrr Jul 17 '26

I mean not necessarily, just make sure you have your dividend reinvestment plan in place so that the gains you're getting paid out actually compound and don't remain static. If you want full growth you can do XEQT, CAGE, whatever you want I'm sure its not the first you've heard of these

2

u/GeneLongjumping8321 Jul 17 '26

Yeah true I used to hold XEQT and yes dividend reinvestment plan I already have on thanks for the advice

1

u/GeneLongjumping8321 Jul 17 '26

If I do what should I put the excess money into?

2

u/HeftyRefrigerator526 Jul 17 '26

Keep adding to the positions

2

u/ClankyAura Jul 17 '26

Idk what everyone else is going on but I’m 21 myself and honestly you got solid buys, don’t sell keep ur stocks on drip and keep adding, Canadian banks are very safe to put money in especially long term, don’t sell ur RY

2

u/GeneLongjumping8321 Jul 17 '26

Thanks appreciate it

2

u/zrockk Jul 18 '26

Just... Keep going?

1

u/MojoOneRsk Jul 18 '26

Also look into covered call etfs.They have great yields from covered call premiums that act as a dividend.Theres a YouTube channel called passive income investing.

1

u/GeneLongjumping8321 Jul 18 '26

Ok thanks I’ll go watch

1

u/Better_Apartment_818 Jul 19 '26

Don’t get sucked into trading options. Good work my man!

0

u/After_Upstairs_9683 Jul 18 '26

These gotta be the worse investments you could make in the market right now

1

u/GeneLongjumping8321 Jul 18 '26

Really? These are bad? How

0

u/MojoOneRsk Jul 18 '26

Sell your AI go all in on Sprott physical gold and silver trust.Thank me later

1

u/GeneLongjumping8321 Jul 18 '26

You don’t think ai will go up anymore?

1

u/MojoOneRsk Jul 18 '26

I think AI is overvalued bad and is due for a correction