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How to Start Investing With $100: The Young Canadian's Guide
You don't need thousands to start investing. You just need to start. Here's the simplest, lowest-cost approach.
- 1Open a TFSA at Wealthsimple or Questrade — both require no minimum and charge very low fees.
- 2Don't pick individual stocks. Consider buying a diversified all-in-one ETF like XEQT (iShares) or VEQT (Vanguard). One ticker, instant global diversification.
- 3Set up automatic monthly purchases (even $25–50/month). Consistency matters far more than timing.
- 4Time in the market beats timing the market — don't wait for the "right" time. The best time to start was yesterday.
- 5The stock market drops regularly — 10–20% corrections are normal. Don't panic-sell. Stay the course.
- 6Robo-advisors (Wealthsimple, Questwealth) do the rebalancing for you. Good for complete beginners.
- 7Once you have $5,000+, a simple two-ETF or one-ETF portfolio is all you need.
- 8Don't obsess over your portfolio daily. Check quarterly, rebalance annually if needed.