Investing Guide: Here Is What You Need To Know Before Investing Your Money In Canada.

Investing your money in Canada, first, you need to know what your goals are for investing. Is it a short term or a long term?

*Solutions:

1) Short term - put your money in the saving account.

2) Long term - invest in the stock market.

*Account Types:

1) Registered Retirement Savings Plan or Account (RRSP)

2) Tax-Free Savings Account (TFSA)

3) Registered Education Savings Plan or Account (RESP)

4) Taxable Account or Margin Account (it can be a personal or business account)

*Place To Have Your Account:

1) Online brokers (QUESTRADE, WEALTHSIMPLE, INTERACTIVE BROKERS etc.)

2) Traditional banks (TD, CIBC, BMO, RBC, SCOTIA)

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