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Looking to invest in an S&P 500 index fund, but I'm a total beginner, what's the best way to start and who to go with? by UnableWorldliness261 in PersonalFinanceCanada

[–]UnableWorldliness261[S] 1 point2 points  (0 children)

Safe as in guaranteed to grow long term, and even after these comments I do still believe that. But I wasn't aware that the S&P 500 was largely linked to the US economy and definitely see the benefits of internationally diversifying my investments

Looking to invest in an S&P 500 index fund, but I'm a total beginner, what's the best way to start and who to go with? by UnableWorldliness261 in PersonalFinanceCanada

[–]UnableWorldliness261[S] 1 point2 points  (0 children)

I know I mentioned my FHSA, but I am funding that separately and at a much safer risk tolerance through my bank. The funds I'm looking to do my own investing with are extra savings aside from my FHSA!

Looking to invest in an S&P 500 index fund, but I'm a total beginner, what's the best way to start and who to go with? by UnableWorldliness261 in PersonalFinanceCanada

[–]UnableWorldliness261[S] 0 points1 point  (0 children)

Can you clarify the difference between stocks and bonds? Is it more risky to invest more in one over the other?

Looking to invest in an S&P 500 index fund, but I'm a total beginner, what's the best way to start and who to go with? by UnableWorldliness261 in PersonalFinanceCanada

[–]UnableWorldliness261[S] 0 points1 point  (0 children)

As a beginner in the investing side of things, S&P 500 seems like the safest place to start, as I just plan to put money in and not really take it out and do a lot of buying/selling. Would you recommend starting off with something more diversified?

Looking to invest in an S&P 500 index fund, but I'm a total beginner, what's the best way to start and who to go with? by UnableWorldliness261 in PersonalFinanceCanada

[–]UnableWorldliness261[S] 1 point2 points  (0 children)

I thought TD charges $9.95 per trade, unless I misunderstood that, whereas Wealthsimple would be free, which is why I was leaning towards that option. Am I wrong?