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/biz/ - Business & Finance

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58043144 No.58043144 [Reply] [Original]

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

>> No.58043654

also interested, complete finance beginner tho. I am from germany and in a similiar situation. Have 85k saved up atm and want to pump 75k into msci world and maybe another etf with a 70/30 split. from there on out just pump 800€ every month into both of them. I understand this is a crypto board but is this a save way to somehow beat infliation? atm I dont do anything with my money so I lose even if I dont use it which feels progressively worse the more I have.

>> No.58044272

>>58043144
You can withdraw any amount from your TFSA on weathsimple into your linked bank account. If you want to maximize your chances at beating inflation with ETF's put all of it into your TFSA. If you really need emergency cash think about potential emergencies and budget just for that ($2000 for car repair, etc.).

>> No.58044291
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58044291

Get your money out of Canada and into the S&P 500 ASAP. USA USA USA!

>> No.58044293

>>58044272
Also, I want to add you will likely not be able to retire at 40 with ETFs unless you are 18 right now and put everything you have for the next 22 years into investments.

>> No.58044320
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58044320

>>58043144
>Retire as a leaf
Lmao, even. You gunna be waging for brownies till you die kiddo

>> No.58045945

>>58043144
Marry a poojeeta.
Seriously, best investment if you wanna continue living as cucknadian, they're gonna run this place in 20 years.