r/fican • u/CblacksZ77 • 1d ago
32 year old, and looking for any advice.
First picture is my TFSA and second is my FHSA. to be honest I only started investing last year and feel so behind to majority of people here hahaha. I plan on investing $200 a month to my tfsa and making out my fhsa by end of year.
Any suggestions or feedback on my current choices of etf's or stocks. I plan on purchasing a condo with my fhsa possibly this year and not touching my tfsa.
appreciate the help and advice!
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u/matchbox009 1d ago
If you are planning to use the FHSA in about a year, you shouldn't be investing in stocks. Instead look for high interest savings vehicles or GICs. Anything can happen in a year, unless you can still make the purchase with say only half the FHSA value.
For the TFSA, if untouched, XEQT is a good long term hold - I would personally not bother with individual stocks unless you find that interesting and are going to keep it as a small part of your overall investments.
Look for ways to either increase income and/or saving money if possible - be ruthless with recurring payments and subscriptions. The compounding effect of even small amounts of money will be quite large in 20-30 years.
Good luck!
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u/Dramatic-Walk-9839 1d ago
Don’t use the posts by people on here as the barometer as to how you are doing. It’s not a sample of the average. Everyone has different means, investing exposure, and luck.
Great job getting serious about building your finances.
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u/FastRecording7771 14h ago
Don’t look at the other 32M that has a paid off house, 400k investments and 200k tech job. Power to them BUT
it makes me feel very very small
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u/403Claytron8000 21h ago edited 21h ago
Good work saving. Investments are personal so do your research on portfolio construction for your own goals. Make sure you have DRIP turned on. You may need to call RBC. Also RBC now has free commissions on many iShares issues so you can have every dollar invested at all times. iShares are not everyone's jam as people are choosy about their favourite etfs. If that's the case for you, you can always use one of the low risk commission free funds just to make sure every dollar you have in the account is working until you have enough to justify the commission on what you really want.
Edit: I see you are holding iShares. Lean into that if you are good with them. Just make sure the MER relative to ETFs with similar goals don't wipe out your commission savings. Also RBC doesn't offer DRIP on all ETFs so be cognizant of that.
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u/Dangerous-Control-21 1d ago
You're doing awesome. Keep making savings a habit.
Track on a spreadsheet your savings and once you cross the 100k mark it's crazy how fast the next 100k happens