Canadian here. How do I invest 40k?
TFSA?
Can I invest in american stocks. Or is that stupid because if the canadian dollar equalizes with the american one (which will happen in a few years), I'll actually be taking out less money if I made a profit. Is that right?
What do I invest in?
I only put 500 dollars in my TFSA so far because I'm unsure
>>1104403
Exchange rate may not work out in you favour in the future but what you can consider is some brokerages that allow for a USD side. I believe both TD and RBC Direct Investing offer USD accounts.
While that doesn't shield you from the exchange rate, it will allow you to keep securities in the US side and not lose out on exchange everytime you buy and sell since you can exchange CAD to USD then trade with USD and keep everything in USD.
As to what to invest in, you will get varying advice from Bitcoin to the flavour of the month stock or etf.
In the end it falls to you to choose the right investment and to do that you need to educate yourself better to make these decisions.
Good luck OP
How old are you? Do you want to play your money speculatively or just have long term growth? Broad based market fund or similarly well diversified portfolio will probably do you best in the long run without you having to micromanage it. Just don't freak out if you end being down for the year and sellout to realize losses. In 30 years that won't matter.
>>1104403
reddit.com/r/personalfinancecanada
those lebbit friendos might be of more help to you
>>1104403
Open a trading account at either a bank or brokerage, tie your current TFSA to this account. Put your 40k into that account then pick investments.
If you invest in dividend paying US stocks you will get hit with withholding taxes, other than that invest in whatever the fuck you like.
>>1104762
Withholding taxes on us dividends come up to 15%.
It makes us dividend "strategies" kind of not great in Canada
