#InvestingTips #FinancialAdvice #WealthsimpleInvesting 🤑
Hey there, fellow investor! 🚀 If you’re 18 and wondering how to wisely invest your hard-earned 12k, I’ve got some tips for you. Here’s how you could approach this investment dilemma:
1. Assess Your Risk Tolerance: Make sure your investment strategy aligns with your risk tolerance level. It’s great to see you’ve diversified your investments with different risk levels, but always reevaluate as your financial goals evolve. 💼
2. Consider Your Time Horizon: As an 18-year-old with no immediate financial needs, you have the advantage of a long investment time horizon. This means you can afford to take more risks for potentially higher returns. 👶📈
3. Research and Educate Yourself: Keep learning about investment strategies and understand the market trends. Consider exploring other investment options beyond Wealthsimple to maximize your portfolio’s growth potential. 📚💡
4. Seek Professional Advice: If you’re unsure about your current investment choices, do not hesitate to consult a financial advisor. They can provide personalized guidance based on your financial situation and goals. 💬💰
In conclusion, your current investment approach is commendable, but there’s always room for improvement. Stay proactive, keep learning, and don’t be afraid to tweak your investment strategy to secure a brighter financial future. Good luck on your investment journey! 🌟💸
Why so many TFSAs and different levels? Is the money for different things?
Follow the !Stepstrigger and !investingtrigger
I would not invest in stock market fully until you finish university just in case you don’t get a job/ scholarship and loan money run dry
but if you must just read !InvestingTrigger
If you’re planning to spend it on school expenses you should put it in GICs so it’s accessible and risk-free.
Your greatest asset is time. Get that money in XEQT or any good growth diversified broad market ETF. Keep investing consistently. Your money will grow. If someone did that 50 years ago, they would have well over a million dollars today.
Not financial advice but just buy XEQT and don’t touch it until you are 65
XEQT
You don’t need the risk level 7 or 6. Move it all into xeqt and risk level 10. You are young so you have lots of time in your favor. Keep the 5k there at 4%. Continue to work hard and contribute regularly, or even set up auto deposits.
Keep stacking up your cash for future purchases like a car after you graduate.
bitcoin, dont listen to the grandpas here telling u to buy etf and be a millionaire when ur 60. trust me when ur 60 that mil aint doing shit for u
I just came here to post and let you know you are doing really well and any decisions you make about your savings are going to result in a 2% change in your finances whereas your excellent behaviors are going to result in the 98% of your results. Focus on that school, save what you can, and don’t forget to live a little. You’re young, don’t waste that for the sake of a retirement plan. You’ve got time 🙂
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