HOW TO START YOUR TFSA WITH $500: BEGINNER’S GUIDE

Don't let your TFSA contribution room go to waste! This account has serious potential to grow your wealth.. if you know how to use it.

See my investments HERE on blossom!

Start Investing (if interested):

0:00 Intro
0:59 TFSA Reminders
2:05 Ways you can Invest
2:50 Opening your TFSA
4:41 Putting Money into your Account
5:16 Buying Investments
6:08 Picking your Investments
6:55 Buying ETFs/stocks
7:42 Buying on Phone
8:50 Buying on Computer
9:25 Outro


Thanks for watching!!


The links seen here are either affiliate/referral links which means I may receive compensation from their use at no cost to you. I only partner with companies/organizations that I personally use or believe in.

**DISCLAIMER**
This video is for educational and entertainment purposes only. This is not financial advice.

[jimijones]

Thank you, thank you, thank you! Finally a video that shows how to actually open a TFSA and invest into it step by step. I have been all over YouTube and there are a million videos claiming to be tell you everything you need to know but nobody seems to want to take the time to show how it's actually done. GREAT JOB CASS !!! I'm going to start today

[PriyaSharma-yzp]

You explained everything with such an ease, great video, thanks!

[cutesquirrel]

Can hiu also show how to sell when to sell? Thank u!

[AlpineDividends]

TFSA is a great thing for Canadians. So far I have almost all of my stock investments in my TFSA =)

[RockthaKazbah]

great video and thanks! I'm just getting into investing.

[guskalo]

I have just recently paid off all my debts for the first time in a decade and a half and I'm trying to navigate what to do with my money. Thanks for your help it can be overwhelming for people like me with zero financial literacy.

[turntablesrockmyworld]

Great little video! One thing that someone has commented on below is that for many, it might be beneficial to only hold Canadian products (stocks, etfs, etc.) in one's TFSA as foreign investments usually trigger a 15% withholding tax on any dividends (but not on stock/fund appreciation), though. It doesn't mean you cannot invest in foreign dividend earning products but just to be aware your dividend is reduced by 15%.

[meredithgillespie]

THIS IS SO HELPFUL! Thank you so much. What a clear and easy to understand video. Love your humour sprinkled in too!

[divyajohn]

Finally I got a video which explained everything I need..thnkuu❤

[JoshuaGraham]

Super helpful. As luck would have it TD signed me up for the high interest and NOT self directed lol. Keep up the great work!

[Yash-ks]

Thanks for the illustrative explanation!!
It helped to fill-in a few gaps in my understanding on HOW to specifically do this.

[chembsajin]

Thank you so much! You are the only one who actually walked us through the process!

[rain]

Thanks for this Cass! (newbie here) I have a couple of questions, if you don’t mind:
-Under your VFV it says Qty 33. It means you have 33 stocks so far, right?
- What do we do after this initial investment? do we keep buying S&P500 stocks and hold on for many years? when should we sell?
-With the initial capital of $500, how long average would it take for it to grow to $600 and then to $1K, for example?
-For cashflow/fast return, day trading is the way to go?
-Can you please recomend Green and AI ETFs?

[navleenkaurkukreja]

Hi CASS. Great informatie video. Thank you so much for explaining things clearly. I want to open my TFSA and you mentioned you opened yours with TD bank but you spoke about self directed options of Wealthsimple. What's the difference there? Why didn't you go for these options?

[antoinegautreau]

Great video. One little thing u missed is investing in US stock will tax u 15% of dividends made. But you aint taxed on increase price. Like if u pay something at 10 and u sell it at 15. you aint taxed. But if you gains 10 cent from that 10$ you will be taxed on that 10cent. I personally dont mind and still invest in US stock I know some people will prefer avoid for that reason

[leighjo]

Thank you for the video, this helps alot.
I do have question though.
How much cash should a person start investing in for the first year?
Also, what are some other other solid investment choices?
Fyi, im new to this

[adrianbot]

Great video! I know you said it's not the best idea to keep a large cash balance in your TFSA. If one, can't make a lump sum of 5k into the account but can over time would you suggest to keep adding to the cash balance until you hit 5K and then buy the stock? Versus buying the stock in $500 increments and paying a $10 commission fee each time?

[leelee]

Nurses in Canada easily make 100k a year

[amitabhagupta]

I have a question - when you buy Canadian ETF which has US stocks as its holdings and when you get dividend or distribution do they deduct withholding tax or the company already paid it and after that paying you distributions?

[sethbadger]

If i was brand new to all of this and wanted or could only afford 1 share (for example the VFV stock) am i able to go back and continue to buy shares of that same stock