Hey there, quick rundown on my financial status and current dealings..
I'm 23 y/o located in BC, Canada. I make ~$80,000 salary per yer, looking like ~4.9k per month after taxes. I currently have no debt, however can expect a rather large amount of debt in the future, when a certain case settles, will not get into details right now though, as the amount/scale/options I have are unknowns. I also do contracting on the side, which pulls in around $75 an hour, for about 20 hours a month. Actively trying to get more clients, however the current one offers enough work at the moment.
Cash: $6,705
Visa: -$4,500 (paid in full every month/statement, I basically use my Visa for 100% of my purchasing)
Checking: $6,400
For investments:
Direct Investing account (through RBC): $1,643.00
Quest Trade TFSA : $1,000.00
Direct Investing Breakdown:
- 27% in VYM
- 7.1$ in MJJ
- 62% in HMMJ
- 4% in BOTZ
Basically my hobby acc, however the account has an unrealized gain of $200, totaling $1849.45.
Quest Trade (Following Couch potato investing)
- 57% in XAW.TO
- 29% in VCN.TO
- 12% in ZAG.TO
With an unrealized gain of -$5.00
I'm looking to invest as much of my income that I can save, as possible. My current plan is to go full on in my couch potato portfolio, and probably close out the Direct investing account in the future. I recently opened the QT account, and set that up as my TFSA. Is investing in my Couch potato a decent strategy?