Investing

buying stocks using TFSA money

  • Last Updated:
  • Apr 21st, 2020 7:53 pm
[OP]
Member
User avatar
Nov 29, 2005
413 posts
51 upvotes

buying stocks using TFSA money

I have some savings in the TFSA account with RBC; It's been sitting there for years just making small interest.
How can I use that money to invest; to buy some stock as the market is an all-time low on may good stocks.

Any suggestion is welcome! Thanks!
:)
6 replies
Newbie
Aug 22, 2006
85 posts
37 upvotes
Ajax
open trading account (TFSA, do TFSA transfer avoid loosing cap)
Buy good stock ( check market capital, e.g in billions... are safe even it go down, it will come back) . buy different stocks (diversify) . fyi, avoid putting all eggs on a single basket.

some from my list ...

BABA
WDAY
NFLX
AMZN
BYND
UBER
DIS
QCOM
TSM
FLT.V
SDC
AMD
AAPL
MSFT
NVDA
WEED.TO
LYFT
TSLA
[OP]
Member
User avatar
Nov 29, 2005
413 posts
51 upvotes
where to open a trading account? does RBC has a trading account?
:)
Member
Jun 14, 2016
402 posts
189 upvotes
Calgary
arvins wrote: where to open a trading account? does RBC has a trading account?
RBC Direct Investing is what it's call I believe. You would usually need to fill out some forms and answer some questions with someone in a branch. Not sure if can be done online, maybe call?
Deal Addict
May 28, 2007
1199 posts
459 upvotes
Find out what the minimum balance requirement is to avoid the yearly administration fee they charge.
Deal Addict
Jun 18, 2018
1333 posts
831 upvotes
Toronto
Depends on if you want to trade US or CDN, or both. If you want CDN solely, I would go with WealthSimple Trade. No commission trades on CDN stocks

If you want a mix, do your research on here on the best platform for you.
Sr. Member
User avatar
Dec 23, 2008
882 posts
89 upvotes
Guelph
Do some research first, I would suggest reading Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School. It strongly suggests index funds as they are they most safest investments as it can be hard to "beat" the market.

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