I've got about 60k loose. Right now it's invested at a bank at 2.75% rate which is fine I guess here in Canada but I'm looking forward making more gains and making my money work for me a little more. Stock trading and crypto trading is very interesting to me, I played a little with both in the past, made a few returns, a few losses but nothing major.
Today I'm here looking for advice as of where should I put my money next? Stocks? Cryptos? Bonds? Mutual funds? Loans?
Here's a few bonus questions: 1- Any good stock trading platform for canadians like Robinhood? (minimum fees, etc) 2- Investing in marijuana stocks seem like a great idea right now in Canada. Pros/Cons?
Keep in mind that suggestions should be ones available from Canada. (Lots of neat stuff available for US markets nowadays but here it mostly sucks AFAIK)
THX!
inb4 buy ethereum inb4 buy monero inb4 invest all in sweet cryptos
You suggest I should invest in bull semen? Like actual companies that markets sperms from male cows right?
Lucas Perez
I know weed stocks have been shit in the US for a while. Maybe things have changed I don't really follow it anymore.
Also apps like Robinhood are better for people with low sums of cash. If you are dealing with 60k you might want to work with a more advanced software even though they will change more. I personally like Think or Swim but I'm not sure if it is available in Leaf land or not.
Justin Thomas
With that sum of money stay away from crypto. Maybe put 5k in it as a risk investment. Search for a good broker or if you don't want to learn too much just put it in a s&p 500 index.
Bentley Baker
That's something I read often and think as a general good idea when market is going okay (S&P 500)
Putting it all into crypto would really dumb I agree lol
Thanks for your insight! I'll check out think or swim
Asher Garcia
Hey,
I recently opened an account with questrade, works well enough for basic self managed account (and now advanced options, but I'm not there yet).
You have access to all north American markets. But be careful if you want to buy us stocks, make sure you transfer money into the "American" side of your account first, otherwise you borrow money from them, even if you have Canadian currencies.
I'm intevesting small amounts to learn the ropes, 250 to 1000 CAD here and there. So far i have some weed stocks, and they are going up :)
Good luck user.
Lincoln Wright
Great to know your first endeavors are going good! I read about Questrade in the past and it seems to be a solid choice for Canadians. I always read about it in financial newspaper and such.
What about the commission fees? I just don't want to pay 10/15$ each time I trade.
Thanks a lot for your insight and for the tip about US stocks ;-)
Daniel Miller
If you are looking for a decent stable stock that'll give you a great dividend yield, I would say Corus (tse: cjr.b)
William Harris
Corus sure sounds like a good bet. Buying Shaw must have a been a crazy good move for investors. I'll keep an eye on it, thanks!
Chase Torres
I got in on Shaw and Enbridge back in February. Feels good.
Hudson Gomez
Pic related.
Christopher Cooper
Woah must be pretty cool! Good move user! Congrats :D
Zachary Lewis
Damn, dem gains!
Henry Wood
The biggest mistake I made in my financial experiences was leaving the majority of my money in my bank account, investing in any Canadian bank stock will give you double the interest rate that a normal savings account would pay with its dividends alone.
Mutual funds are a scam and I would stay away from them. Investing in ETFs or stocks is a much better option.
For Canadian stocks I'd recommend TD, BNS, FTS, and Rogers/Shaw. I invested a lot into the US markets, mostly NVDA and FB and I'm already up 10% this year on both.
Lincoln Ross
Current investment I have is an ETF. Good to know they're okay. I'm looking forward trying my hand at stocks one more time, taking it slow :P
Thanks for the stock pick suggestions, I'm taking note of everything. I'll see how it goes and might transfer a few bucks to stocks soon.
Bentley Gomez
Remember to keep a diverse portfolio! Don't want to put all of your eggs in one basket.
Grayson Collins
That's exactly why I am here :D I've put it all there while I find where to make more diversified investments. I just don't want to make any dumb move and lose too much on noob errors :P Thanks for the tip!
Aiden Ramirez
My dude makes consistent 10% growths per months. Never made a loss. The market had a mini crash just a few days ago and he actually made money off that.
It might be worth having a conversation with him if you like.
Tyler Hughes
You're in a Ponzi scheme bro
Lucas Butler
That's the one big thing I keep in mind: look for drops, every time the market sinks, it's good to take a look and think about investing since it'll surely go back up in the soon future. Glad to know your dude made money that way, that validates this idea. Sounds a bit too good to be true but hey let's see.
I'd like to talk with him if possible. All I want is learn a few things to get started and be self aware of when is a good time to trade.
Jace Turner
Its swing trading
Dylan Walker
You can invest in his abilities. Whatever you give him will come back to you 10% greater. I am his manager.
He does this through day and swing trader. He never holds a stock for more than a few days and thats unusual.
His method is technical analysis where his stock criteria include a healthy growth, momentum of growth and a few other markers.
Prepare yourself for a 100$ a month subscription to stock alert from a guru that made his 10k barmitzva money into 10 million.
Easton Jenkins
Lol. No subsciption. Its more of a mutual fund. No scam either, I'm prepared to share all proofs and sign documents etc.
Alexander Ortiz
Be careful with currency conversions in cad to usd on Questrade try the Norbert's gambit method maybe
Asher Gonzalez
Also another question: anybody has suggestions for good books about investment?
swing trading sounds great
Julian Phillips
>lives in a country that is going to legalize recreational marijuana next year >doesn't invest in marijuana stocks
very strange. Now the risk is Trudeau is talking out of his ass and doesnt get it legalized and you lose a ton of money. But I have a good feeling he will.
Chase Garcia
I recommend you get a TFSA. You can protect the capital gains from nearly all of that 60K, it's sweet. I just opened one through my (Canadian) bank, it has a fairly high price per trade, but I'm a buy and hold investor so it doesn't matter much.
Marijuana stocks are interesting, some of the canadian medical companies are really good apparently (my dad has his medical liscense and says his old dealer's shit just can't compete. and that guy had some of the best). So once those go into the recreational market and the tourists start showing up, it should be pretty sweet. Might be difficult to scale up since it needs dedicated physical space, but still an interesting play. Keep in mind though they're small companies, so they'll be more volatile than, say, Irving.
Brayden Evans
The max commission fee is 5 or 6$, so it's low.
They also get 2% on us change currency, (and extra interest if you buy without American funds in your account)
Noah Bennett
Quest trade has TFSA, no reason to go through a bank. Also robo advisors are pretty good but they're more for normies who don't need to worry about stock picking
Tyler Perez
Also Canadian couch potato
Luke Scott
Just opened a questrade account, doing the "practice" run for now. I wished I had started sooner but hey life is life.
I'll check TFSA out, sounds interesting!
Awesome, great to know.
Where should I look for TFSA on Questrade?
Aaron Reyes
>like Robinhood Holy shit, user. With $60K you can use an actual brokerage. You'd be able to trade on margin, short, trade after hours, etc. Plus, you can negotiate a halfway decent commission rate with that pile. RH is for broke fucks using the market to gamble on penny stocks (mostly, there are some who use it to invest).
You probably don't need to read much regarding investing. Diversify, add money regularly, and don't check it too often if you like your sleep. Investing takes advantage of long time horizons so you have to do almost no work.
James Sanchez
>Mutual funds are a scam Can you explain? It seems like everyone that plays it safe suggests them.
