Im well informed with TFSA now since june after your first video. I remember how i have to reach out to you and your dad to have the self direct investment part going into stocks. Done , set up for the next 15 yrs....i can see funds fluctuation....but lm very happy . Morenike thanks to you , mum and dad. You all are my mentor now....glory be to God. Im putting $s and #s together for the London investment....will reach out again soooon Thanks
Not that you didn't explain it well but I'm still not sure exactly whata tfsa is ....it's something I am interested in , is it only in Canada?? Is it like a IRA?
great video! been looking to understand how this works for a while now. i have a question, if you don’t withdraw your money from your TFSA by the end of the year & your contribution room reset, would that include the money you already have in it ? for example, if you have like $20,000 still in your TFSA by the end of the year & your contribution room for next year is like $60,000, does that mean you only have $40,000 contribution room left ?
Lavita you can have as many as you wish as long as you don’t go over the contribution limit! I would just beware of the costs of having the accounts (if any). I’ve only used wealth simple so I can’t comment on RBC unfortunately. Wealth simple has a great platform tho!
I just opened a TFSA yesterday. This might seem daft but how does the stock buying you did on another video with TD relate to this type of investing. Does it happen on the same account ?
@@guzu_p4360 for each stock you’re interested in, go on Google and search the name of the company + stock price and it will show you a graph of the growth of the company over whatever time period. Example: “Amazon stock price” www.google.ca/search?q=amazon+stock+price&ie=UTF-8&oe=UTF-8&hl=en-ca&client=safari
Hi , so I open a TFSA investing account Can I max the account to save cash considering. I will not be investing in drip or is there a best way to save cash
@@xoReni Thank you , makes sense with the HISA since I have the cash and in one of your videos you had mentioned investing in drips If one has large amount of cash on hand Thank you for your response If it’s not so much to ask , can you look at the EQ bank new TFSA account and advise what you think?
If you invest it and it doesn't grow because you didn't invest in a company that gained in the market, do you get screwed over? I'm so financially illiterate 😣 love your videos so much
If it goes down you have a loss, but that doesn't mean you're screwed! It can always go back up. Research extensively before investing and you are less likely to face this!! I hope this helps. Message me on IG if you have more questions
I love this. Thanks to you and your dad. As I was directed from twitter, I never regret watching this
You're the best! Thank you for watching!
Hey beautiful, your skin is glowing sis
Thank you lovely 🥰
Very educative, I enjoyed watching this even though I don’t live in Canada. Also your hair is beautiful xx
Thank you so much for watching! I hope they have something similar in your country 😊 and thank you so much, my first time going blonde 😝
Helllo!! great videos! Can I open TFSA mutual funds with a bank and TFSA self-directed?
Thank you! Yes you can do both
Love your videos! It's so amazing to see a young black Canadian professional who's into finance! You're so helpful 😊
Thank you so much Bri! I appreciate that 😊
I enjoyed it and where I live we don't have this kind of savings. Thanks for sharing
Im well informed with TFSA now since june after your first video. I remember how i have to reach out to you and your dad to have the self direct investment part going into stocks. Done , set up for the next 15 yrs....i can see funds fluctuation....but lm very happy .
Morenike thanks to you , mum and dad. You all are my mentor now....glory be to God.
Im putting $s and #s together for the London investment....will reach out again soooon
Thanks
Thank you so much sir 😊
i love watching your videos. Although I dont live in Canada your tips and guidance can be attributed anywhere
Thank you so much !!
Excellent video!!
Thank you very much!
I love everyone of your videos. This was very summarized and simple to understand. Keep it up.
Thank you so much Kehinde! If you have any specific topics you want to see, please let me know ☺️
Thank you so much for breaking this down for us, sis. This is so helpful!
Thank you sis, so glad it was helpful! If you have other questions let me know 😊
Great info, in the UK we call in ISA. :)
Thank you!! Do you have a video about the ISA so I can link it in my description box?
Thanks for this video.
Thank you for watching 😊
This was such great information and will help me when I turn 18
So happy to hear that you’re going to start so young! You’re on the right track 🥰
TFSA ALL THE WAY QUEEN
IT IS THE BEST!!!
Hey you're in Canada! 🙂
Love the TFSA had one for years.
the TFSA is the best account in Canada :D
Canada seems to always have their stuff together for their citizens. Thank you for sharing
They really do!! The US has something similar too 😊
a person can also take out money from their RRSP for schooling.
Only up to $10k and must be repaid. Better off using your tfsa
this very informative all though im from the us but still good info
Glad it was helpful!
Runs to TD bank
Hahaha yes!!
Not that you didn't explain it well but I'm still not sure exactly whata tfsa is ....it's something I am interested in , is it only in Canada?? Is it like a IRA?
It’s only in Canada! Yes it is similar to an ROTH IRA in the US - I have a link in the description that explains the IRA 😊
great video! been looking to understand how this works for a while now.
i have a question, if you don’t withdraw your money from your TFSA by the end of the year & your contribution room reset, would that include the money you already have in it ?
for example, if you have like $20,000 still in your TFSA by the end of the year & your contribution room for next year is like $60,000, does that mean you only have $40,000 contribution room left ?
Correct! 40,000 plus whatever the new contribution is for the new year
Hi, great video! I too have a TFSA account the saving kind. Is it okay to open another TFSA for investing without being penalized by the gov't.
Thank you Tiffany! Yes it is definitely okay. You can actually have as many TFSAs as you want as long as you don’t go over the contribution limit
Are you only allowed to have one TFSA? Can you have one from a bank and another from wealthsimple?
And which would you recommend (specifically RBC or Wealthsimple haha)
Lavita you can have as many as you wish as long as you don’t go over the contribution limit! I would just beware of the costs of having the accounts (if any).
I’ve only used wealth simple so I can’t comment on RBC unfortunately. Wealth simple has a great platform tho!
xoReni thanks for the quick reply!!! 💛
You’re welcome! Thanks for watching 😊
I just opened a TFSA yesterday. This might seem daft but how does the stock buying you did on another video with TD relate to this type of investing. Does it happen on the same account ?
You have to ask the bank to open a TFSA for investing! Most times they only open the one for savings
What's the percentage returns in a TFSA account?
It depends on what you invest in!
@@xoReni so what's the percentage for Amazon, Facebook and Microsoft and is it monthly or annually?
@@guzu_p4360 for each stock you’re interested in, go on Google and search the name of the company + stock price and it will show you a graph of the growth of the company over whatever time period. Example: “Amazon stock price” www.google.ca/search?q=amazon+stock+price&ie=UTF-8&oe=UTF-8&hl=en-ca&client=safari
@@xoReni thank you soo much
Great video! Is there a way to convert a savings TFSA to an investing TFSA?
Thank you Kyle! You can open a TFSA for investing and then transfer the funds from the savings into it. I don’t believe you can convert it though 🤔
@@xoReni thanks for the info!
Hi , so I open a TFSA investing account
Can I max the account to save cash considering. I will not be investing in drip or is there a best way to save cash
Yes you can use the TFSA to save cash or you can put it in high interest savings account. I would suggest you invest in your TFSA instead of save
@@xoReni Thank you , makes sense with the HISA since I have the cash and in one of your videos you had mentioned investing in drips If one has large amount of cash on hand
Thank you for your response
If it’s not so much to ask , can you look at the EQ bank new TFSA account and advise what you think?
@@nkirukauzoigwe3824 I’m not sure I understand your question
If you invest it and it doesn't grow because you didn't invest in a company that gained in the market, do you get screwed over? I'm so financially illiterate 😣 love your videos so much
If it goes down you have a loss, but that doesn't mean you're screwed! It can always go back up. Research extensively before investing and you are less likely to face this!! I hope this helps. Message me on IG if you have more questions
Beauty and BRAINS
Aww thank you! 😊