Wealthsimple strategy
So I’ve just signed up for Wealthsimple and was trying to see what the best way to diversify my portfolio would be taking into account risk/reward.
I’ve set up an RRSP and TFSA account. This is purely for long term investing and it is a 30 year horizon. All near term stuff I would keep in my main bank (ie. RESP, rainy day money, etc).
Each account is set up as a balanced portfolio with the TFSA being on the higher risk end for balanced and RRSP being the less risky balanced category.
I am contemplating to open up another TFSA portfolio as growth and put this at the highest risk level. I wouldn’t invest too much into this (maybe $1K initially with biweekly contribution or $25-$50).
Would this kind of “diversification” make sense?
Does it make sense opening up all these now or should I wait for a down time in the market (although over 30 years this should avg out if there is a market crash?)
I’ve set up an RRSP and TFSA account. This is purely for long term investing and it is a 30 year horizon. All near term stuff I would keep in my main bank (ie. RESP, rainy day money, etc).
Each account is set up as a balanced portfolio with the TFSA being on the higher risk end for balanced and RRSP being the less risky balanced category.
I am contemplating to open up another TFSA portfolio as growth and put this at the highest risk level. I wouldn’t invest too much into this (maybe $1K initially with biweekly contribution or $25-$50).
Would this kind of “diversification” make sense?
Does it make sense opening up all these now or should I wait for a down time in the market (although over 30 years this should avg out if there is a market crash?)