The Money Mustache Community

Learning, Sharing, and Teaching => Investor Alley => Topic started by: Tisdel on June 12, 2014, 02:50:45 PM

Title: Canadian vs. US savings/investing
Post by: Tisdel on June 12, 2014, 02:50:45 PM

Hey there,

I've decided that at the age of twentysomething, my wasteful lifestyle of "blow all my money on videogames/junk food" is completely stupid. So I was quite happy when I found the mainwebsite. However, it, and this blog, seem to focus on savings funds that are exclusive to the US (eg 401k). Is there a a quick and easy list of what accounts a Canadian should use, and if Vanguard Canada is just as good as Vanguard USA, etc?

Title: Re: Canadian vs. US savings/investing
Post by: andru365 on June 13, 2014, 06:06:40 AM

http://canadiancouchpotato.com/ (http://canadiancouchpotato.com/) is the best resource out there for Canadian low cost index investing

Title: Re: Canadian vs. US savings/investing
Post by: AssetGrinder on June 13, 2014, 10:05:41 AM

First off the best place to save money is in you TFSA.After that is full then focus on your RRSP and then regular accounts. Start by opening a discount brokerage account from any of Canada big six banks as they are all close to the same in fees. Just keep reading on your own about everything finance and slowly you will get a grasp of the bigger picture.

Title: Re: Canadian vs. US savings/investing
Post by: daverobev on June 13, 2014, 06:09:29 PM

Vanguard USA is the actual.. account provider. Here you need to get an account with a brokerage (Questrade - free buying of ETFs - would be my choice). Plenty of info on CCP.

It really is... open QT account (or three - TFSA, RRSP, "margin" which is a normal unregistered account); stuff it/them with money; keep on til you have enough to stop :)