Hey guys, Wealthsimple will give you a free Mac or IPhone 16 💻📱when you transfer $100,000 or more to Wealthsimple, promo ends December 13, 2024. Simply use my referral code: ZCZSZQ here: www.wealthsimple.com/invite, and make sure you register for the Mac/IPhone promo! *Note: You'll need to maintain your funds for 365 days after the funding period ends.
Hi there! Thanks for your informative videos. I have been watching them to learn more about investing. I used your referral code but am confused because my account now says, "Welcome bonus from ______". The name doesn't match your name. Can you confirm what the name should be?
I usually go with registered representatives. Faith Reece has the best performance history (in my opinion) and does offer 1v1 consultation to her capitalists which I think is amazing.
Faith's unique strength lies in her realistic approach which makes her different from other brokers who often set unattainable targets and fall short in delivery.
Great video for Canadians!!🇨🇦You were clear on every step, amazing explanations. Ps Investors please dont underestimate the power of time: I was investing only 10$/pay at the beginning but with years, its a snowball! Start invest for the long term, you will be proud of yourself as the account will skyrock!💵🤑
Thanks for sharing your experience! I hope it will motivate many other viewers to start with small amounts and keep going. You're right, it's amazing to see how quickly investments grow if you keep at it!
@@LivinginCanadaHi I was wondering if you had any videos relating to reward apps to save money Like airmiles , scene+ and others I may not know of What would be the best one for shopping and getting cheap fuel in Canada
Your comment just encouraged me to start. I have been terrified to death - not kidding. The thought of making big financial investment mistakes really scare me to the extent of real anxiety. Thank you for sharing how you started.
Thank you for making this as easy as possible to understand. Especially for beginners like me. Investing money shouldn't be so scary. Thank you for curbing my anxiety!
I saw a video of yours a year ago and I really liked how you present info. Now you're talking about WS; the very thing I need help with. 3 minutes in and I already trust you. Glad i found you!
Thank you!! You saved me from getting taxed. I didn’t realize that the TFSA you could still invest in stocks with it. I was currently using a non-registered account
I have funds in TFSA and have maxed out my contribution limit. If I withdraw from TFSA for education, will my contribution room be replenished? If so, can I re-contribute funds back into TFSA later?
Any funds withdrawn from your TFSA (within the contribution limit) will be replenished, but only in the new year. If you withdraw $1k now in January, the room will only be restored in 2026. That's why it's always best to withdraw money at the end of the year. Hope that helps!
The fastest way is to connect a bank account and deposit directly. Funds are usually instantly available (up to a certain limit, differs by financial institution).
If you mean which automations you've set up, you can check that by clicking on your account (e.g. TFSA) then going to the settings button, then scroll down to 'automations' to see what's set up, hope that helps!
Great!! I have One question. I’m investing in TFSA and FHSA in CIBC bank as my account is in that bank. So is there any difference between Investing in CIBC and Wealthsimple? If yes then which one is safe and better for outcomes?
@vinitjakhar3817 @KehindeOmikunle The TFSA itself is the same (in terms of tax advantage and how it works in general). The difference would come down to the types of investments which can be bought (I don't know what CIBC's offering is, but I would guess that many are similar), and the interface (Wealthsimple has both desktop and mobile version, while I don't know how CIBC's look like). In terms of outcomes, for self-investing there's no difference, since you would be the one picking your investments. As for their robo-advisor (if they have on), I don't know. One of the reasons I like using Wealthsimple compared to traditional bank's platforms is that the app is really easy to use. Uncomplicated and clear. Maybe someone else who's actually used CIBC can add more here! Cheers!
Hi. Thank you for all the videos you create. I didn't know if I max out my TFSA and withdraw some money but reinvested back in the same year then it is considered as over limit. Question is what if I transfer from 1 TFSA account to another. Is this also considered as going over limit.
Following the Trump victory,My spouse and I 've set aside $250k to follow up these stocks I believe it is a good time to capitalize on the market for long-term gains, but it wouldn't hurt to know means of actualizing short term profit.
Find quality stocks that have long term potential, and ride with those stocks. I have found it takes someone who is very familiar with the market to make such good picks.
Yes. It is very easy to buy in on trending stocks but the problem is knowing when to sell or hold, which is why a coach is important. I've been in touch with one for about a year now and although I was initially skeptical about it, I will say I've made more progress within a year generating 6figure profit
how can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
Svetlana Sarkisian Chowdhury a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
Yes you can open more than 1 TFSA, but the total contribution room stays the same. So you gotta keep track of how much you have in each account so you don't overcontribute. Cheers!
Thank you very much for the information; it's very useful! To be honest, you explained everything really well. As an international student, not a PR resident yet in Canada, should I choose a TFSA right?
Hey so I have a TFSA,FHSA,RRSP,RESP accounts on Wealthsimple and they are currently managed I’ve just started taking investing seriously about a 1 month ago and was wondering if I should change it to manually or leave it managed ? And if I can change it to manually cause I’m not sure how ! Thanks
Do you have a traditional bank account alongside WS? If so for what purpose and why separate? If not, do you feel WS is safe enough to trust all of my money into?
I was wondering how do they deal with dividend that we receive on our investment? I noticed i frequently receive small dividend amount but it doesn’t payout to my linked account though I have my reinvesting dividend option turn off . Any thoughts on this ?
I have a TFSA GIC that has reached the max contribution room before additional gains are taxed. Can I still use this to invest with wealth simple? Do I need to create a new TFSA? Or should I open an RRSP? Hearing RRSPs are a trap.
One question, are we generally able change institutions for the TFSA without hassle? I'm with TD and I'm wondering if i do open with TD can i switch that account and move the money to a wealthsimple TFSA or vice versa?
Thank you for the video. My question: after buying say 1 share of etf. Can you have recurring buys of the same etf, growing your share every month. For example after first buying a share, next month you had 0.5 share and so on. How does it work?
Appreciate your clarity and simplicity for beginners. Do you have other socials I can follow? I'm in Toronto as well, would love to learn more from you.
No. The TFSA is just a 'pot' that holds your money/investments and gives you certain tax benefits (no tax on capital gain, interest, dividends). If you just leave it there as cash, you'll not earn anything. To grow your money, you need to invest it in something. Cheers!
There is obviously a compounding effect in the very long term for large capital, but is not "automatic", and with the wrong strategies you can even lose more than you have, and selecting the correct stock without a proven strategy can be exceedingly challenging. I've been working on expanding my $210K portfolio for a while, and my primary obstacle is the lack of clear entry and exit strategies.
Thanks for the analysis! I have a quick question: My OKX wallet holds some USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). Could you explain how to move them to Binance?
Would you say it’s good idea to use your CIBC investor edge (what ever other investing platform) for USA stocks since you can Norbert gambit, and then wealthsimple for cad stocks,? Can I push my usd from my tfsa into my wealthsimple portfolio?
I'd say it's fine to buy small amounts of US stocks, even on Wealthsimple with the forex fee. But if you plan to have a lot of US holdings, then the fee makes a difference. Questrade is a popular choice for buying US stocks as well, I have a link in the descriptions as well
Great video!! Is it possible to split between the Managed portfolio and Self directed investing at the same time? If for example I have money in my TFSA account and i want to split into both?
hi suppose i start wealth simple as a beginner and i just buy 10 stocks in a year and i am under my limit so in the end of year i need to attach tax documents of wealth simple when file the tax?
You need to report your contributions to your TFSA/RRSP (and other registered accounts). The tax documents (provided by wealthsimple) don't need to be attached, but you need to keep them for your documentation. Tax reporting deadline is in April for the last tax year :)
Yes, the total limit is $40,000, and you can combine it with the HBP (RRSP) as well. I have videos just on that, you can look at my playlist on investing or home purchase. Cheers!
Subscribed! I have a question about transferring from one bank to Wealthsimple. I currently have a TFSA at EQ bank and would like to just transfer it to WealthSimple (not selling and buying). Is this possible and is there a transfer that I would have to pay? Transferring registered assets from a bank to Wealthsimple could be a topic for an upcoming video? TIA and keep up the great work!
I had opened a wealthsimple account a long time ago; i don't remember if I choose managed portfolio or not. how do I check and is there a way to switch?
@tankconnors7323 When you open the app, it would say managed if it is managed. It also would give you a projected growth chart. When you have a self-directed account, it only shows past growth.
Thank you! Can I hold US currency in these accounts? Or, every time I buy or sell US stocks or ETF, it will have to do a conversion first before I can place a trade order?
I was told if we buy American stocks with TFSA n we make profit when we sell them we need to pay tax?! What about VFV it's Canadian version of voo,do we still need to pay tax ?
The withholding tax of 15% only applies to dividends, it's directly applied to the dividends paid out by the ETF (at the fund level, so it's already reflected in the dividends you receive), there's no 'additional' tax to be paid on top of it, so 'tax-free' in TFSA holds. The 15% withholding tax applies to both VFV and VOO held in a TFSA. But if you hold VOO (a US-domiciled ETF) in your RRSP, you'll be exempt from the 15%.
I wouldn't worry so much about paying the US dividend tax. 1. You will also pay canadian taxes on Canadian dividends. 2. CRA allows you to apply a foreign tax credit. I use index etfs like S&P 500 or TSX 60 as well as a global index etf. You can decide your percentage of exposure. I.e. 40%-40%-20% ATM my amateur split is 30-60-10 with 30% of my Canadian holdings in individual stocks of companies I support.
I have a question, let's say i have a TFSA with some bank, and dont want tochamge it to wealthsimple. Am i still eleigible to buy ETFs on wealthsimple or not?
Hi Your video is really helpfull for new investors. Can you also make a video what is todays return and total return. For instance By book vale of a share is $31.41 where current price for the share is @31.40 but today return Shows $1.00(3.29) in green (how it could be profit)..
@ronp3490 for the tfsa, for sure! Open a self-directed account and then request funds in managed are moved. Over the last 8 months, my portion in managed has gone up 15%. Not too bad really.
Can you Norbert gambit in another area and then transfer your usd into wealthsimple? If not then this app is just for Canadian investing only otherwise forget it
I would like to only buy US stocks. Do you recommend Questrade in that case? Or there is a way around it with Wealthsimple. For example by pating the 10$ fees
@steeve3386 if you have 100k in assets, they don't charge the 10$ fee but I have heard some say questtrade is better for research and more active traders.
I have a doubt, lets say I deposited $7000(2024) in my TFSA this year, and the next year limit is $7000(2025). So, can i still contribute in my TFSA $7000 + new deposit.
i have paid off my house worth 730 k to 750k 77 in free from taxes account and 24k in tsfa do u think that its a good start and im disabled so only working with 48 k yearly im single and how could i build on and grow those numbers
Wealth Simple weaken me on the exchange. I am a prenum, 1.5 per transaction, with Wealth Simple being very accommodating as it does not allow transfers between accounts without exchange. I am thinking of leaving this company in the future and I cannot continue like this
AI stocks are poised to dominate in 2024. I prefer NVIDIA because they are well-positioned to sustain long-term growth and serve as a foundational platform for other AI companies. I know an investor who has achieved over 200% returns with NVIDIA. I'm also open to any additional recommendations you may have.
I believe the next significant opportunity lies in AI. For sustained growth similar to META, it is essential to avoid impulsive decisions influenced by short-term market fluctuations. Emphasizing patience and a long-term perspective is crucial, and seeking financial advisory services can facilitate informed buying and selling decisions.
@@J.FamGuy.M i started with zero knowledge and I bought Tesla stock when it price dropped at 142 then a week later , I gained like almost 1.5k then I sold them and started buying other stocks and even crypto then I lost more than 1k in it first day, and more than 3k after a week . 😂😂
I don't know exactly what measures they take to protect SIN numbers. You can read about it here: work.wealthsimple.com/hc/en-ca/articles/4406069068955-What-measures-do-you-take-to-protect-my-data
Imagine paying a management fee to a robo investor when all you could have done was bought voo and closed your eyes 😂 one book can save you from many errors . People should read books and learn ! Or watch TH-cam videos 😂
Hey guys, Wealthsimple will give you a free Mac or IPhone 16 💻📱when you transfer $100,000 or more to Wealthsimple, promo ends December 13, 2024. Simply use my referral code: ZCZSZQ here: www.wealthsimple.com/invite, and make sure you register for the Mac/IPhone promo! *Note: You'll need to maintain your funds for 365 days after the funding period ends.
So you get a new phone in a year? 😅
Hi there! Thanks for your informative videos. I have been watching them to learn more about investing. I used your referral code but am confused because my account now says, "Welcome bonus from ______". The name doesn't match your name. Can you confirm what the name should be?
Finally someone make a video step by step! Unfortunately i made mistakes when i tried to set up my account in WS 😂.
Hope you got things sorted out! :)
please let me know how to get the daily update on shares, do you have any broadcast channel on whatsapp?
I don’t! But I hope my existing and future videos will help! Also open to video suggestions!
It's wise to seek professional guidance when building a strong financial portfolio due to it's complexity.
I usually go with registered representatives. Faith Reece has the best performance history (in my opinion) and does offer 1v1 consultation to her capitalists which I think is amazing.
Talking to an expert like Faith Reece to reshape your portfolio is a very smart move
Faith's unique strength lies in her realistic approach which makes her different from other brokers who often set unattainable targets and fall short in delivery.
Great video for Canadians!!🇨🇦You were clear on every step, amazing explanations. Ps Investors please dont underestimate the power of time: I was investing only 10$/pay at the beginning but with years, its a snowball! Start invest for the long term, you will be proud of yourself as the account will skyrock!💵🤑
Thanks for sharing your experience! I hope it will motivate many other viewers to start with small amounts and keep going. You're right, it's amazing to see how quickly investments grow if you keep at it!
@@LivinginCanadadefinitely, yes.
Thank you for your lesson.
This is one of the BEST channels on TH-cam for both Canadians and for those interested in investing in Canada!😊❤
Thanks for the endorsement 😎
This is only from Canada? Or can I trade outside Canada?
Great tutorial! Thank you! I'm a baby investor, I can only put 50$ a paycheck into it but it's slowly building up on Wealthsimple.
That's awesome, a great start! Even $50 adds up over the years, and with gradual increases it will quickly snowball. Happy investing!
@@LivinginCanadaHi
I was wondering if you had any videos relating to reward apps to save money
Like airmiles , scene+ and others I may not know of
What would be the best one for shopping and getting cheap fuel in Canada
Your comment just encouraged me to start. I have been terrified to death - not kidding. The thought of making big financial investment mistakes really scare me to the extent of real anxiety. Thank you for sharing how you started.
@@LivinginCanadawhat's the minimum amount can you start off with or does it depends on the the type of stock you want to purchase?
@@doreenwilliams2018depends on the stock price you want to purchase but u can start with even 3 dollars. It takes money to make money.
Thank you for making this as easy as possible to understand. Especially for beginners like me.
Investing money shouldn't be so scary.
Thank you for curbing my anxiety!
Thank you for making this as easy as possible to understand. Especially for beginners
I saw a video of yours a year ago and I really liked how you present info. Now you're talking about WS; the very thing I need help with. 3 minutes in and I already trust you. Glad i found you!
That means a lot to me! I'm glad if the way I explained it worked for you! Happy weekend!
Thank you!! You saved me from getting taxed. I didn’t realize that the TFSA you could still invest in stocks with it. I was currently using a non-registered account
Love this girl. What a lifesaver with these tutorials.
Thank you Chiu Yen! Always looking forward to your uploads.
Thanks for being part of this community! Cheers!
Thank you so much for this video and all of your Canadian content on investing!!
Thanks for watching and being part of this community!
Just what I needed. Thank you.
Happy to hear that @MegaLifeHappiness!
Just headsup... direct stocks or etf... post co vid... markets are up and up... so be preapred to hold while it goes down
This is a great tutorial I had a lot of questions that you already answered as your video went on
You talk very well and informative
Thanks so much, I'm new to Canada had a few hiccups with signing up but I got on and I feel so excited...❤🎉
Thanks for your code as well!!
Enjoy the journey!
I have funds in TFSA and have maxed out my contribution limit. If I withdraw from TFSA for education, will my contribution room be replenished? If so, can I re-contribute funds back into TFSA later?
Any funds withdrawn from your TFSA (within the contribution limit) will be replenished, but only in the new year. If you withdraw $1k now in January, the room will only be restored in 2026. That's why it's always best to withdraw money at the end of the year. Hope that helps!
Thank you very much for making this video!
Is it safe to put SIN ?
Wealth simple has tax filing software too... so yes. Safe
KODK What do you think of Kodak's farce?🍔🍟
What's the fastest way to ADD money to your cash account? 5 business days normally via banck transfer.
The fastest way is to connect a bank account and deposit directly. Funds are usually instantly available (up to a certain limit, differs by financial institution).
Will wealth simple let me know what auto subscriptions are being withdrawn from my account so I can manage
If you mean which automations you've set up, you can check that by clicking on your account (e.g. TFSA) then going to the settings button, then scroll down to 'automations' to see what's set up, hope that helps!
Do you do one on one tutorial?
Thanks for asking, but I don't! I make these videos so that many people can access the information at once :)
Great!! I have One question. I’m investing in TFSA and FHSA in CIBC bank as my account is in that bank. So is there any difference between Investing in CIBC and Wealthsimple? If yes then which one is safe and better for outcomes?
Would like to know more as well, as i just started a tfsa with cibc. Thanks ahead.
@vinitjakhar3817 @KehindeOmikunle The TFSA itself is the same (in terms of tax advantage and how it works in general). The difference would come down to the types of investments which can be bought (I don't know what CIBC's offering is, but I would guess that many are similar), and the interface (Wealthsimple has both desktop and mobile version, while I don't know how CIBC's look like). In terms of outcomes, for self-investing there's no difference, since you would be the one picking your investments. As for their robo-advisor (if they have on), I don't know. One of the reasons I like using Wealthsimple compared to traditional bank's platforms is that the app is really easy to use. Uncomplicated and clear. Maybe someone else who's actually used CIBC can add more here! Cheers!
@@LivinginCanada thanks for your input.
CIBC's self managed trading account is called 'Investor's Edge' and they charge $6.95 per trade.
Hi. Thank you for all the videos you create. I didn't know if I max out my TFSA and withdraw some money but reinvested back in the same year then it is considered as over limit.
Question is what if I transfer from 1 TFSA account to another. Is this also considered as going over limit.
Can international students use Wealthsimple?
Can you share your holding types ?
How do I know the limit of investment for various accounts, especially for tfsa ?
Following the Trump victory,My spouse and I 've set aside $250k to follow up these stocks I believe it is a good time to capitalize on the market for long-term gains, but it wouldn't hurt to know means of actualizing short term profit.
Find quality stocks that have long term potential, and ride with those stocks. I have found it takes someone who is very familiar with the market to make such good picks.
Yes. It is very easy to buy in on trending stocks but the problem is knowing when to sell or hold, which is why a coach is important. I've been in touch with one for about a year now and although I was initially skeptical about it, I will say I've made more progress within a year generating 6figure profit
how can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
Svetlana Sarkisian Chowdhury a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
If I already have a TFSA account with my bank, can I open another one on wealthsimple?
Yes you can open more than 1 TFSA, but the total contribution room stays the same. So you gotta keep track of how much you have in each account so you don't overcontribute. Cheers!
hey, i appreciate you
Great content, keep it up,
Thanks!
Thank you very much for the information; it's very useful! To be honest, you explained everything really well. As an international student, not a PR resident yet in Canada, should I choose a TFSA right?
Hey so I have a TFSA,FHSA,RRSP,RESP accounts on Wealthsimple and they are currently managed I’ve just started taking investing seriously about a 1 month ago and was wondering if I should change it to manually or leave it managed ? And if I can change it to manually cause I’m not sure how ! Thanks
I used your code thank you 😊
Nice, just you forgot the most important part, HOW TO WITHDRAW money from WS self directed accounts!
Do you have a traditional bank account alongside WS? If so for what purpose and why separate? If not, do you feel WS is safe enough to trust all of my money into?
I’m also wondering this
Thank you
When you buy VFV is there 15% holding tax on the US stocks within the ETF?
I think it is only for US stocks traded on Nasdaq or NYSE... VFV is CAD stock index (traded on TSX).
I was wondering how do they deal with dividend that we receive on our investment?
I noticed i frequently receive small dividend amount but it doesn’t payout to my linked account though I have my reinvesting dividend option turn off .
Any thoughts on this ?
I have a TFSA GIC that has reached the max contribution room before additional gains are taxed. Can I still use this to invest with wealth simple? Do I need to create a new TFSA? Or should I open an RRSP? Hearing RRSPs are a trap.
One question, are we generally able change institutions for the TFSA without hassle?
I'm with TD and I'm wondering if i do open with TD can i switch that account and move the money to a wealthsimple TFSA or vice versa?
By far the best video on Wealthsimple!!
Thanks so much, I appreciate that!
Hi Ive been a farm of your youtube and I'm just wandering if there is a hisa on wealthsimple under the tfsa
Thank you for the video. My question: after buying say 1 share of etf. Can you have recurring buys of the same etf, growing your share every month. For example after first buying a share, next month you had 0.5 share and so on. How does it work?
Yes, you can scheduling recurring purchases of the same share or ETF, it's explained here: 10:27-10:46, cheers!
Which is good etf to buy ?
I like index etfs!
For example, S&P 500 etf or tsx 60 composite etf.
Hi,great content here.Do you have one on one sessions?! Probably calls,zoom etc .Thanks🙏🤗
Appreciate your clarity and simplicity for beginners. Do you have other socials I can follow? I'm in Toronto as well, would love to learn more from you.
I only post this content on TH-cam, cheers!
Hi,I have a quick question : will I earn any interest from TFSA just by keeping money in it but not investing?
No. The TFSA is just a 'pot' that holds your money/investments and gives you certain tax benefits (no tax on capital gain, interest, dividends). If you just leave it there as cash, you'll not earn anything. To grow your money, you need to invest it in something. Cheers!
There is obviously a compounding effect in the very long term for large capital, but is not "automatic", and with the wrong strategies you can even lose more than you have, and selecting the correct stock without a proven strategy can be exceedingly challenging. I've been working on expanding my $210K portfolio for a while, and my primary obstacle is the lack of clear entry and exit strategies.
Thanks for the analysis! I have a quick question: My OKX wallet holds some USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). Could you explain how to move them to Binance?
Sorry, I'm don't use Binance!
I think you should not be posting your seed phrase. It's supposed to be kept secret
Would you say it’s good idea to use your CIBC investor edge (what ever other investing platform) for USA stocks since you can Norbert gambit, and then wealthsimple for cad stocks,? Can I push my usd from my tfsa into my wealthsimple portfolio?
I'd say it's fine to buy small amounts of US stocks, even on Wealthsimple with the forex fee. But if you plan to have a lot of US holdings, then the fee makes a difference. Questrade is a popular choice for buying US stocks as well, I have a link in the descriptions as well
Nice content 👏I’m subscribed. Looking more content on some stock analysis and recommendations
Great video!! Is it possible to split between the Managed portfolio and Self directed investing at the same time? If for example I have money in my TFSA account and i want to split into both?
I haven't seen that option! But you could try to open a second TFSA on the same platform and see if it will let you choose a different mode!
Can i transfer Crypto to Kucoin as a Canadian?
Gas fee is to high 2% its better to use bybit
How do you use debit Visa deposit
How we can see the etfs we bookmarked? Or star
@omerbinahmed7535 generally they are listed towards the bottom of your home page (after the list of accounts.)
TY. This is helpful... best resources to find the best Canadian managed, Growth and DIV ETF's??
hi
suppose i start wealth simple as a beginner and i just buy 10 stocks in a year and i am under my limit so in the end of year i need to attach tax documents of wealth simple when file the tax?
You need to report your contributions to your TFSA/RRSP (and other registered accounts). The tax documents (provided by wealthsimple) don't need to be attached, but you need to keep them for your documentation. Tax reporting deadline is in April for the last tax year :)
Wow, I didn't know about the FHSA, is there a limit for that account? Can I combine that account with my spouse?
Yes, the total limit is $40,000, and you can combine it with the HBP (RRSP) as well. I have videos just on that, you can look at my playlist on investing or home purchase. Cheers!
Subscribed! I have a question about transferring from one bank to Wealthsimple. I currently have a TFSA at EQ bank and would like to just transfer it to WealthSimple (not selling and buying). Is this possible and is there a transfer that I would have to pay? Transferring registered assets from a bank to Wealthsimple could be a topic for an upcoming video? TIA and keep up the great work!
@cheungd08 I know RRSP was a cheque transfer.
I had opened a wealthsimple account a long time ago; i don't remember if I choose managed portfolio or not. how do I check and is there a way to switch?
I have tfsa on my bank, can still open tfsa in wealthsimple for buying stocks ?
@@LJColors yes
I opened my account a couple years ago. but i Donno if I choose managed account? how do I check to see if I took Self managed?
@tankconnors7323 When you open the app, it would say managed if it is managed. It also would give you a projected growth chart. When you have a self-directed account, it only shows past growth.
Haiii your video was great
Had a doubt , benefits of recurring investment on weekly basis. It’s good or bad
Thank you! Can I hold US currency in these accounts? Or, every time I buy or sell US stocks or ETF, it will have to do a conversion first before I can place a trade order?
@82nutcracker there is a fee for maintaining a US $ acct. However, I think it is fee free after you have 100k with wealthsimple.
is Cash account in wealthsimple is not registered account?
If you already have a TFSA account and with a managed portfolio, am I able to change to self-directing?
Yes. There is an option to transfer the account “in kind” and WS will take care of the rest.
I was told if we buy American stocks with TFSA n we make profit when we sell them we need to pay tax?! What about VFV it's Canadian version of voo,do we still need to pay tax ?
The withholding tax of 15% only applies to dividends, it's directly applied to the dividends paid out by the ETF (at the fund level, so it's already reflected in the dividends you receive), there's no 'additional' tax to be paid on top of it, so 'tax-free' in TFSA holds. The 15% withholding tax applies to both VFV and VOO held in a TFSA. But if you hold VOO (a US-domiciled ETF) in your RRSP, you'll be exempt from the 15%.
@@LivinginCanada
So what (stocks)are you suggesting to hold in my TFSA and not pay tax later ?!
Greatly appreciated 🙏👍😍
I wouldn't worry so much about paying the US dividend tax.
1. You will also pay canadian taxes on Canadian dividends. 2. CRA allows you to apply a foreign tax credit.
I use index etfs like S&P 500 or TSX 60 as well as a global index etf. You can decide your percentage of exposure. I.e. 40%-40%-20% ATM my amateur split is 30-60-10 with 30% of my Canadian holdings in individual stocks of companies I support.
Could you make a video for beginners however step by step don't lose any step or can i contact you private from canada AB
Do you post videos on tiktok?
I only publish on TH-cam :)
Can I buy stocks, even im not Canadian citizen?
You don't need to be a citizen, but a Canadian resident with a SIN number, hope that helps!
@@LivinginCanadaHow safe is it to provide your SIN # with WS? Thank you.
It say some investment options arent available for this type of account
Disnat, the best brokerage in Canada. Absolutely free
I have a question, let's say i have a TFSA with some bank, and dont want tochamge it to wealthsimple. Am i still eleigible to buy ETFs on wealthsimple or not?
@Komuu_ Yes. Just be aware of your contribution limits. Wealthsimple will tell you the total contributed with them.
@J.FamGuy.M by which account I can buy ETFs on wealthsimple
Great video, just started investing. How do u enter the referral code?
Thank you! You can click on the referral link in the descriptions of the video, then follow Wealthsimple's prompts to enter the code. Cheers!
Great content
Thank you!!
Hi Your video is really helpfull for new investors. Can you also make a video what is todays return and total return. For instance By book vale of a share is $31.41 where current price for the share is @31.40 but today return Shows $1.00(3.29) in green (how it could be profit)..
My friend set up my wealthsimple with TFSA and FHSA but it’s managed instead of self directed. Is there a way to change it?
@ronp3490 for the tfsa, for sure! Open a self-directed account and then request funds in managed are moved. Over the last 8 months, my portion in managed has gone up 15%. Not too bad really.
Can you Norbert gambit in another area and then transfer your usd into wealthsimple? If not then this app is just for Canadian investing only otherwise forget it
I would like to only buy US stocks. Do you recommend Questrade in that case? Or there is a way around it with Wealthsimple. For example by pating the 10$ fees
@steeve3386 if you have 100k in assets, they don't charge the 10$ fee but I have heard some say questtrade is better for research and more active traders.
🎉😊
Cheers!
Tell more about this thanks
I have a doubt, lets say I deposited $7000(2024) in my TFSA this year, and the next year limit is $7000(2025). So, can i still contribute in my TFSA $7000 + new deposit.
If this year you've already maxed out your TFSA, next year January your limit increases and you can contribute again.
Is it just me, or do you look strikingly similar to Constance Wu from Fresh off the boat.
Wealthsimple charge me everytime 2%
i have paid off my house worth 730 k to 750k 77 in free from taxes account and 24k in tsfa do u think that its a good start and im disabled so only working with 48 k yearly im single and how could i build on and grow those numbers
Wondering if I can still invest in registered accounts if my status is still under international student? or do i have to be a PR in order to do this?
You don't need to be PR, but you have to be a resident, and have a SIN. Hope that helps!
Hi,
I used your referral link to start my Trading. Hope that you have more videos about trading and learn more about investing. Thank you.
Wealth Simple weaken me on the exchange. I am a prenum, 1.5 per transaction, with Wealth Simple being very accommodating as it does not allow transfers between accounts without exchange. I am thinking of leaving this company in the future and I cannot continue like this
Other platforms charge a similar fee as well. 1.5% is a lot smaller compared to banks.
AI stocks are poised to dominate in 2024. I prefer NVIDIA because they are well-positioned to sustain long-term growth and serve as a foundational platform for other AI companies. I know an investor who has achieved over 200% returns with NVIDIA. I'm also open to any additional recommendations you may have.
I believe the next significant opportunity lies in AI. For sustained growth similar to META, it is essential to avoid impulsive decisions influenced by short-term market fluctuations. Emphasizing patience and a long-term perspective is crucial, and seeking financial advisory services can facilitate informed buying and selling decisions.
I started from 8k and now, I have only 5k left and I never put more money again 😂. That was my 8 months of savings as a student tho
😢 did you try your hand at picking individual stocks or did you buy standard market etfs like s&p 500 or tsx 60?
BM is rich 😂
@@J.FamGuy.M i started with zero knowledge and I bought Tesla stock when it price dropped at 142 then a week later , I gained like almost 1.5k then I sold them and started buying other stocks and even crypto then I lost more than 1k in it first day, and more than 3k after a week . 😂😂
Hello can you reach out to Me? I have some questions I would like to ask personally... I live in alberta. Can we set up a simple meeting?
Does Wealth Simple protect my SIN ?
I don't know exactly what measures they take to protect SIN numbers. You can read about it here: work.wealthsimple.com/hc/en-ca/articles/4406069068955-What-measures-do-you-take-to-protect-my-data
lol i just opened my Wealthsimple account...then only I come across this video on my feed.... that's a waste of a referral right there..... sobs
oh oh...managed to enter referral XD.... and gotten my $25 =P
Imagine paying a management fee to a robo investor when all you could have done was bought voo and closed your eyes 😂 one book can save you from many errors . People should read books and learn ! Or watch TH-cam videos 😂
Not a big fan of robo advisors!
I didn’t think you could buy crypto on you tsfa
she says in the video that it cannot be held in a tfsa.