/biz/ - Business & Finance

>40k saved up in leafbucks
>making 30k/year being a warehouse slave
I want to get into investing and I have ~32k of contributing room in TFSA. I've never contributed or invested before. My investment goal is retirement at 35. I want to live with my parents until I'm 30 saving every penny then retire and GTFO. I want to put 10k into my TFSA and invest in VEQT (Vanguard All-Equity ETF) that is 100% stocks and no bonds. I've been reading some investing books and since the stock market always increases no matter what then I figured I should just go high risk and get as much returns as possible. I also want to put it in a DRIP so I constantly reinvest my dividend income into more VEQT stock. I don't plan on touching the money until I'm 30 at least (I'm 22 now). Is this a good strategy? Any and all tips welcome.

https://canadiancouchpotato.com/model-portfolios/

I have 40k sitting in my bank doing nothing. I plan on putting 1k to my TFSA and want to invest in ETFs to make some extra shekels and fight inflation. I want to retire with ETFs when I'm 40. I work at a warehouse and have no education or skills because I wanted to avoid the loan jew. Investing is my final middle finger to them. I have questions:
>Quest trade or Wealthsimple? (I use the latter for taxes)
>Should I put all 1k into Canadian ETFs like XSP.TO? Then let it sit there until I'm 40?
>Why don't I max out TFSA?
Because I don't know when I'll need my money. I don't wanna keep withdrawing from it

I have 40k sitting in my bank doing nothing. I plan on putting 1k to my TFSA and want to invest in ETFs to make some extra shekels and fight inflation. I work at a warehouse and have no education or skills because I wanted to avoid the loan jew. Investing is my final middle finger to them. I have questions:
>How do I open a TFSA?
>Quest trade or Wealthsimple? (I use the latter for taxes)
>Will investing with TFSA have to be reported on my tax file next season?

>you contribute to RRSP and the taxes you pay get "delayed" until you withdraw (ideally when you're near retirement and have a smaller income)
I don't understand how that works. So if I make $40,000 when I'm 24 years old and contribute $5,000 to my RRSP, the government will instead tax me for $35,000 income. So how does the delay work? Let's say my RRSP has $100,000 by the time I'm 60 and my income is now $20,000 a year. And I withdraw it. What am I paying taxes on now? This is confusing please help I'm rarted.

>be me
>black 23y/o
>in Toronto
>working construction for minimum wage
What should I spend my savings on when I become inevitably homeless?

How can I get a warehouse job in Toronto? I don't wanna do college or trades. I haven't been getting any luck.