All of us understand the importance of working hard. But often, the secret to financial success is more than your own sweat – it’s about being smart about your investments and making your money work equally hard for you. If you’re a first-timer to investing, it can feel daunting to figure out how to start investing in Canada. However, no matter how overwhelming it may seem, we're here to help you get started! This article offers an introduction to investing, explains concepts and technical terms, and gives tips on different investments you can pick according to your financial situation and comfort level.
At first, the prospect of trying to decode the process may seem intimidating, and it may seem pointless if you have a small amount of money to invest. But thanks to advances in financial technology (or “Fintech”), investing is easier and more accessible than ever, and online investing starting small is totally possible. With a focus on simplifying investing, online brokerages and robo-advisors are leading the charge to maximize investment returns by minimizing costs.
Money is one of the most valuable assets you can have. If you don’t use it well or just keep it stashed under the mattress, it loses value over time due to inflation. But if you put your money to good use by investing it patiently, your net worth rises slowly but surely.
Where to Invest Money In Canada
The first step is to choose an investment provider. Let's look at the options.