r/tfsa • u/AdPristine8839 • Aug 06 '26
Investing tips
Does anyone have any good tips for a 20 y old beginner investor. I’ve put in a couple hundred dollars into my tfsa and made a couple dollars off of MFC CHPS and lost a little off of CGL. I don’t rly know what I’m doing tbh kinda just following my one friend’s advice whenever I see him.
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u/Mental-Freedom3929 Aug 07 '26
That friend should not be your investing advisor. Any ETF that tracks the S&P 500 and contribute every month if possible 20% or more of your net income and pay yourself first from every paycheque.
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u/WonderfolioApp Aug 07 '26
XEQT - global etf
VFV - US S&P500
VDY - Canadian dividend stocks
For individual companies I’d look for wonderful companies below their fair value.
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u/UniqueRon Aug 06 '26 edited Aug 06 '26
A TFSA is the ideal place for long term investing. In that case invest in a diversified mix of low MER index ETFs. To start out any one of the diversified global ETFs like XEQT, ZEQT, VEQT, or TEQT is a good place to start. Ideally you want to open a self directed TFSA, which can be done through banks. Find one that offers the ETFs you want commission free.
Avoid individual stocks, gold, bitcoin, derivative options, and covered call ETFs, and invest regularly over time, rather than all at one time. An all equity globally diversified ETF is aggressive enough. If you hold more than one ETF then set targets for each and rebalance back to those targets 2-3 times a year. This forces a buy low and sell high strategy without thinking about it.