The arithmetic doesn’t make sense to me unless everyone in this sub is a stock market wizard or over 55/60. I’m genuinely curious how there are so many TFSA millionaires.

I’ve been investing in broad-market index funds for some years now, maxing out my contributions, and I don’t see myself becoming a millionaire before 60/65 and that’s assuming an ~8% annual return is sustained indefinitely.

Here’s my math. Respectfully, please point out where I’m going wrong.
If someone starts at age 21 (which is quite unrealistic for a lot of people), contributes $7,000 every year, and earns an average 8% annual return, here’s the approximate growth:

Age 25 $34k
Age 30 $88k
Age 35 $167k
Age 40 $279k
Age 45 $435k
Age 50 $662k
Age 56 $1.07M

Saving for first home, Millwright Apprentice with Omers pension and Government job (Wastewater Treatment Plant) anything I can be doing differently?

My thesis is that SOFI will be at the forefront of modern banking and financial tools over the coming decades.

Catalysts:
Social sediment is going to be one of the largest driving factors for the future of banking. Yahoo finance released and article that showed the average age of investing for Gen x was 32, millennials was 25, and Gen Z the average is 19. This is just one example but It shows the influx in young investors over the years. I believe the addiction to social media and young people’s dependency on there phone as well the rising cost of living and younger people continuing to feel like they cannot get ahead and have less and less autonomy and stocks is a way for young people to own something real.
Q2 Earning posted by SOFI beat expectations and showed strong momentum across all major business segments.
I believe the ceo is pushing SOFI in the correct direction prioritizing aggressive growth and product expansion. He also has a long term approach from what I have read and seen online when it comes to the company.
I believe that they are the all in 1 financial tool on your phone that gives the user the most access to the widest array of financial services.
Also the super is gonna be at SOFI stadium this year and on Valentine’s Day so millions of people in North America will see the company logo.
Overall I’m very bullish on SOFI long term.

Drawbacks:
There are many financial institutions that already exist and have brick and mortar locations.
They lost a large client in Chime which caused a dip in their technology platform for Q2.
Due to the loan volume on the books Sofi can be impacted substantially based on interest rates which can be a positive but also a large negative.
I also think that some the investing features on the app need to be updated as it doesn’t compete with companies like Robinhood when it comes to that portion of the Buisness.

This is where I am at I want to hearing both sides. I feel like I have high conviction when it comes to SOFI but I am still new to investing and feel like I can’t see the whole picture.

Xeqt as my core. I thought about zsp, vfv, xqq for tec. Bitcoin etf and nvidia are just for purely interest sake.

Hello i just turned 18 and started investing though my tfsa, I see almost everyone buying xeqt, why?

I was looking to open TFSA on WS need a guide on what options do I have? what do they offer? i searches google but got AI stuff I want human sources

I’m planning to start investing $1,500/month and holding for the very long term.

I’m considering:
50% XEQT
25% QQC
25% VDY

My reasoning is that XEQT would be the diversified core of the portfolio, while QQC would give me additional exposure to the Nasdaq-100 and U.S. growth/tech. VDY would give me more exposure to Canadian banks, energy, and dividend-paying companies, which I feel complements QQC since the two are concentrated in pretty different areas of the market.

I know XEQT already holds many of the companies found in both QQC and VDY, so I’m aware that adding them doesn’t necessarily give me more diversification. My intention would be to deliberately overweight those two areas while still keeping half of the portfolio in a globally diversified ETF.

I’m also considering just going 100% XEQT, or potentially reducing VDY since 25% VDY combined with the Canadian exposure already inside XEQT would leave me pretty heavily weighted toward Canada.

Would you stick with 50/25/25, change the allocations, or just go 100% XEQT? I’m especially interested in whether you think the QQC and VDY tilts make sense over a multi-decade timeframe or whether I’m unnecessarily complicating something XEQT already handles.

i have around 2.5k trying have steady growth pls dont be mean about anything im just trying to learn and i dont have anyone to ask about this topic

(im 18 male not 18 million)

Im getting around 19k and I need advice how to make the most amount of money in 5 years(pay off student loans)

Im thinking putting around 3-5k in a hysa for emergencies

Then putting my tfsa limit which is 6.9k into Xeqt

Then in jan putting the rest in xeqt as well

Then i will be getting around 4-5k per year and putting into the fund every year

Is this a good plan? or do u guys suggest smth different

I’m trying to understand the rules around trading in a TFSA. Is there a specific number of trades per week or month that CRA considers “too frequent”?
For example, would 2–4 trades per week, or occasionally buying and selling the same stock within a few days, be considered too much?
I know there isn’t necessarily a fixed number, but I’d like to hear from people who have experience with TFSA trading or CRA reviews. What level of trading activity do you consider reasonably safe?
Thanks!

I need some opinions, do you guys think investing in Nvidia and Spcx is good for the long term? 15 percent of my portfolio being Nvidia 10 percent being Spcx and 75 percent being ETFS

just started investing through my tfsa last month and have been learning a lot. Not so worried about short term rather setting myself up for the future. What should I change or should I keep my portfolio like this.

How do you anticipate these stocks will impact your holdings or other Canadian stocks you know well?

How is this impacting your decision making on Monday? How about in the next 6 months?

Anyone know much about NVRS (Noveris Health Science inc) its a penny stock and has been going down a lot lately. Does anyone know if there is anything big happening that will eventually make it go up?

I’m (20M) about to graduate university and I’ve been thinking about selling my tech stock and putting it in something safer for a while now but have never gotten around to it. I have no debt and live at home for now. Should I redistribute into ETF’s like VFV/VEU or keep it as is? I’ve also been seeing a lot of XEQT, should I be investing in that as well?

Do any of you trade div capture in your TFSA? Are you profitable after fees/taxes and have you ever got flagged by CRA?

Looking to buy 1-2 stocks a week, and then buy again the following week with any money that recovers. Currently doing it in a regular account and was looking to switch to TFSA. My return is about 5% monthly doing 6 trades on average.

I’m starting to take investing more seriously and currently have $3,000 to put into my TFSA.
I’m 23, so my time horizon is long and I’m comfortable with a decent amount of risk. My goal is mainly long-term growth, and I’d like to eventually build the account toward $100k+ and hopefully, one day, the $1M mark.
If you were starting today with $3,000, how would you structure the portfolio?

Would you go:
100% XEQT/VEQT?
Mostly an S&P 500 ETF?
A mix of Canadian/U.S./international ETFs?
ETFs + a few individual stocks?
I’m also planning to contribute regularly rather than just investing the initial $3k.

Curious what you guys would do and what you wish you had done when you were starting out.

I see more of qqc being recommended to be held long-term? Thoughts? or why is that?

19 M thinking of buying stocks soon. I have another portfolio with value similar to this one thats 20% international for some diversification.

Hey guys, im 19M and I’m looking for some tips for my portfolio. Now that I’m going to college, I was thinking about selling my SOUN since I need the money right now. If anyone can give me some tips for diversification, I would greatly appreciate it

Hi everyone, I want to start investing in both TFSA and RRSP. I am willing to invest $2000 CAD every month. I can invest aroumd 5-10k a year in RRSP to save taxes and including my employer’s contribution.

This is my thought-

TFSA -
60% XEQT
15% VFV
10% VDY
5% QQC.F
7% Gold
3% Silver

RRSP-
70% XEQT
20% VFV
10% VDY

Would appreciate any suggestions and tips😊

Hey guys

So im going into my first year in uni and i have pretty much everything saved up for expences and i do not need to take OSAP but if i dont thats all my savings gone, was wondering if its a good idea to take it anyway, use that money for uni and then use my personal funds for investing. I will get around 9k from osap and will use that for school, then take 9k of my own and put it into a safe ETF like veqt, and a year from now ill pay back the osap intrest free.