How I would invest $100 starting over

@_russellckai

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TFSA (Tax-Free Savings Account)

Why it worked

The video provides actionable, beginner-friendly advice on investing with a small amount of money, addressing a common barrier for new investors. It simplifies complex financial concepts like brokerage accounts and TFSAs, making them accessible and encouraging.

Summary

The video explains how to invest $100 starting from scratch by first opening a brokerage account and then a TFSA. It recommends low-cost brokerages like Wealthsimple or Questrade and suggests investing in a diversified ETF like XEQT for a stress-free approach.

Structure

1Introduction to investing with $100
2Opening a brokerage account
3Understanding the TFSA and its benefits
4Checking TFSA contribution room
5Investing in low-cost ETFs like XEQT
6Disclaimer to do own research

Product placement

Investopedia: an investment account held at a licensed brokerage firm. It merely appears, removing it would not change what happens in the video. Well Simple: a financial institution. It merely appears, removing it would not change what happens in the video. Questrade: a financial institution. It merely appears, removing it would not change what happens in the video. RBC: a financial institution. It merely appears, removing it would not change what happens in the video. TFSA (Tax-Free Savings Account): a registered account where the income you earn is completely tax-free. It is explained and its benefits are discussed, so removing it would change what happens in the video. iShares Core Equity Portfolio (XEQT): an exchange-traded fund (ETF) that holds multiple underlying assets. It is shown as an example investment, so removing it would change what happens in the video. blossom: a platform that verifies investments. It merely appears, removing it would not change what happens in the video.

Original caption

How I would invest $100 starting over Disclaimer please do your research before purchasing any investment #stockmarket #money #stock #PersonalFinance

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Transcript

If I was gonna invest my first $100 starting over, here's exactly what I would do. Contrary to your belief, you don't need $100,000, $10,000, even $1,000 to start investing. You can literally just start with this, which is crazy. The first step is to open up a brokerage account, which is an account with a financial institution in order to buy assets or investments like stocks and ETFs. Some that I would recommend and this is not sponsored, is Well Simple, Questrade or RBC, specifically Well Simple and Questrade for their low fees and no commissions. Once you have your initial brokerage account set up, you need a specific investing account called the TFSA, the Tax-Free Savings Account. The TFSA is tax leverage, meaning if you add investments in this account and it grows over time, and it comes time that you want to retire and take out the balance in the account, you don't pay any tax to Uncle Sam. There are some specific rules that you have to follow with the TFSA, such as the annual TFSA contribution limit for 2026 is $7,000, and the maximum cumulative contribution room is $109,000 for individuals who have been eligible since its inception in 2009. Unused room rolls over indefinitely, and any funds withdrawn can be recontributed starting the following calendar year. If you're watching this and you're not 18, say you're 23 and you haven't contributed to a TFSA yet, you just have to check how much total room you have available on the CRA's website. Just enter in your personal details and you'll be able to find that number. Now comes the fun part is actually buying investments within the account. I personally invest in low cost ETFs, which are basically ETFs that track a basket of stocks. Some ETFs that Canadians like are VFV, XEQT, XIU, VDY or QQC. If I wanted the most stress-free, low cost and most diversified option, I would put $100 into XEQT alone because this is an all-in-one ETF that tracks companies all across the world. But please do your own research before buying any investment.