How to sell shares in canada
HOW TO INVEST IN STOCK MARKET AS A STUDENT IN CANADA | THIS IS HOW I AM DOING IT | MUST WATCH
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Hello everyone! How are you all doing? Today I'm back with a new video.
For today's video, I added a poll on Instagram asking
if you wanted a video about investments.
Actually, I invest in the stock market,
and, as you may know, I came to Canada as a student.
I now invest some of my income in the stock market,
and I've shared 2-3 portfolios of my stocks on Instagram,
and everyone requested a video on it. So I posted a poll
to see if you guys wanted a video on it or not. 400+ people said yes,
and they messaged me to request that I make a video about it.
So I decided to make a video about it.
In this video, I will explain how I invest and how you may invest as well.
I'll give you an overview of the stocks you should invest in,
but I'll only briefly describe how to do it.
So don't skip the video; I'm going to teach you all you need to know about investing
in the stock market in Canada as a student, as well as why it's important.
So, without further ado, please watch the entire video, and let's get started.
First and foremost, please like the video because it contains a wealth of information.
So, first, I will discuss why investment is important.
Because I am a student and will be getting my work permit soon, people here rely on their paychecks.
If I talk about how I learned about investing in the stock market,
I like to read books and I started this hobby when I was in 11th grade
because I saw a video on YouTube about how to grow your mind and grow yourself financially,
so the main thing is that the more knowledge you have, the more your mind grows.
So my first book was Rich Dad, Poor Dad. If you haven't read it already,
just check out the reviews for this book. It will change the way you think about money.
It is said that once you start reading books, you will be a different person in any way.
So, this book will open your eyes to the reasons why the rich remain rich and the poor remain poor.
I won't go into too much detail because you can read the book for yourself.
So I made the decision to do something with my life.
When I arrived in Canada, I began working as an employee for a business.
I assumed that working for an employer for 8 hours would help that person.
I'm not suggesting you should quit your job; what I'm saying is that
if you work for someone for 8 hours a day, it will be advantageous to that person.
But where we get it is through our weekly salaries.
I don't want to live like this; I'm not complaining, but I do believe there's scope for growth.
So, when I started making money, I decided to invest some of it.
So that's the backstory.
Now, how can we invest money? So, in Canada and the United States, there are a few things.
First, in banks, we have a savings account or a checking account.
If you keep your money in a savings a/c, the highest interest rate offered here is 2% p.a.
So, if you have $100 in your bank account now, it will be worth 102 dollars next year.
However, this is the maximum interest rate. The interest rate I'm getting is 0.5 % each year,
which is negligible, and there is inflation every year.
Inflation indicates that the $100 we have today in our bank will be worth $ 98 next year
due to an increase in the prices of everything.
Inflation is an increase in the prices of products and a drop in the value of money.
So, if we put our money in a savings account, its value will fall year after year.
As a result, there is no profit from it. If your bank pays 2% interest,
the value of your money will be the same every year owing to inflation, which makes no sense.
So, what else can you do? In Canada and the United States,
there are three types of investment accounts. The first type of account is a personal or margin account.
If you invest your money here, you must pay taxes on the interest, dividend growth, and capital gains you get.
So, you must pay tax on your personal or margin account.
Now, I'll explain to you when to use that later. So, the following two accounts are tax-sheltered,
which means we don't have to pay taxes on them. To be honest, I'm trying to explain everything;
it took me a long time to learn these concepts, and I'm explaining them to you in a single video, so please watch the entire video.
So, in tax-sheltered accounts, the interest you get from capital gains or dividend growth is tax-free,
which means you don't have to pay tax on it.
The two tax-sheltered accounts are the TFSA and the RRSP.
TFSA stands for Tax-Free Savings Account, whereas RRSP stands for Registered Retirement Savings Plan.
Now, let me tell you about the software I use to invest in the stock market.
I use Wealthsimple Trade, which is Canada's first investment app with no commission fees.
When you purchase or sell a stock, you will be charged a commission of up to $5 in both transactions.
I am now an early investor. If I invest $100 and pay $5 in commission,
I will incur a 5% loss on my investment. So, for no commission fees, try Wealthsimple Trade.
My referral link is in the description; if you download the app through this link,
both you and I will receive $10 for your first $100 trade.
That is your choice. However, if you use my referral link, you will also receive $10.
Now I'll explain what a TFSA account is. TFSA stands for Tax-Free Savings Account, as previously stated.
If you wish to open a TFSA account with this app, it's not difficult;
I'll include a link to a video in the description on how to do so.
Your account will be created after you give your name, address, and SIN number.
The app's key feature is that there is no minimum balance necessary for investing.
Other platforms, such as Questrade, have a $1000 minimum balance requirement.
I recommend Wealthsimple Trade, where you can start investing with as little as $1,
and it takes three days for your deposit to arrive before you can buy stocks in Wealthsimple Trade.
I'll show you a screen recording of how to do that, but first, we'll go through some other things.
So, in a TFSA, you can buy stocks, but it is entirely up to you which stocks you buy.
Investing in Canada's financial industry, such as banks, and energy and utility sectors, such as electricity, is extremely advantageous.
I've invested in TD Bank, Algonquin Power & Utilities Co., and other firms
that have blue-chip stocks that you won't have to worry about for 15-20 years
and that will provide a high dividend. So, I've made investments in these companies.
I typically invest 80% of my money in stable companies and 20% in new stocks with significant growth potential.
These are the stocks where the graph can both rise and decline.
But I carefully invest my money, and I recommend that you do the same.
I also watch videos by three YouTubers that provide information about buying stocks,
so I'll include the links to their channels in the description, and you can find all the links in the description.
However, if any of you are interested in investing in Indian equities,
there is a YouTube channel called CA Rachna Phadke. She creates incredibly interesting videos,
and I learned a lot from her; you can watch her videos.
As Warren Buffet said, "the earlier you start investing, the greater you'll find the power of compound interest."
So, I explained how a TFSA account works. Invest your money in a TFSA, buy stocks, and hold them.
If you discover these shares rising, you can sell them; if you want to hold them for a long time,
you can do so; it all depends on what you desire.
But I just wanted to explain what a TFSA account is.
People will now wonder if they can put as much money into a TFSA as they want.
That is not the case. When you reach the age of 18, you are eligible for the TFSA.
Every year beyond 18 years, there is a limit. For example, the maximum this year is $6,000.
I can invest $6000 in a TFSA this year, and assuming the maximum remains at $6000 next year, I can contribute a total of $12000.
If I am 23 years old and have not begun investing, I have the age limit of 18 to 23 years old
and can use this room for my investment to avoid paying taxes. It's a significant deal;
deal; if you invest in your personal account and trade from it,
it won't be helpful to you because you'll have to pay taxes on it.
As a result, the government will cut tax on your earnings, resulting in no benefit.
That is why the government advised people to invest in TFSA and RRSP accounts.
So that was the TFSA account. I'll share a screen video so you can see how to buy stocks in Wealthsimple Trade,
which has a really simple interface, and I've recently started in Questrade.
For those who are unaware, I recently purchased three Microsoft stocks totaling 210 USD.
USD. So, if you begin investing at a young age, you can watch your money grow.
So now I'll show you how to purchase stocks.
So, let me show you how I invest my money. This is my watch list, as you can see.
As you can see, it has a very simple UI.
You can see all of your transactions on the activity page.
If you want to add or withdraw funds, you can do so on the funding page.
On the accounts page, you can see that my TFSA has $364 in it, and you can also open your RRSP or personal account here.
So, if we want to buy any stock, let's say I want to buy Fortis stocks.
As a utility stock, you can observe what the company does. At the top, you can see the name of the company,
a symbol over it, and the graph of the stock.
So, if I want to purchase a stock, I must press the buy button.
Now it says "market buy," which implies you can buy the shares at the current market price.
However, if you want to buy the stock at a lower price,
I must select limit buy and wait for the stock's price to reach my desired amount before purchasing it.
As it stands, I don't have enough dollars, and as I previously stated,
it takes 3 days for your payments to arrive. It has a very simple user interface.
As you can see, I bought two shares of TD Bank. It's a really basic app.
As you can see, I bought 7 shares of this company and received a total return of $3.02.
I purchased the shares at an average price of $4.73, and the current price is $5.16,
so I made a profit of $3.02,
and you can view the stock's portfolio, so it's a pretty wonderful app.
Again, there is no commission cost, and it is very good software for beginners.
Once you have gained enough expertise, you may move on to more advanced applications.
So, as you can see, it's a really straightforward interface for purchasing stocks.
I recommend that you invest at least $50-100, which is a very small amount.
I know it's difficult in the beginning, but as a friend, I'd like to offer some advice.
I purchased a new smartphone as soon as I arrived here. So I have to pay $100-150 for the phone,
but if I don't get it, I only have to pay $50 for the phone. If you invest it,
this amount will be useful to you. I've seen these things myself, which is why I believe investing in shares will benefit you.
I put $100-120 into stocks. Because saving money in a savings account will not help you.
However, if you invest the money, it will begin to increase.
If you have money invested somewhere, the money is working for you rather than you working for money.
There are two kinds of jobs. The first is that you work for money by doing jobs,
but if we placed our money in stocks like Google, Apple, or Microsoft,
these are large firms, and I purchased three Microsoft stocks for roughly $850 CAD.
But, in the beginning, I did not begin with $850. So, begin with a small sum and begin investing as soon as possible.
Because this video will become too long, I'll prepare a separate video discussing the benefits of RRSPs.
So, I just wanted to let you know that if you want to start investing,
you may use my referral link, and if you found this video useful, please Like it.
Because it will notify me that you are interested in videos on this topic,
and I will share my portfolio in the future. I am a student, but I enjoy investing and watching my money grow.
It will be advantageous if you comprehend these concepts at a young age.
I'm not at an expert level, and I'm also at the beginning of this,
but I wanted to offer what I know in the hopes that it may help you.
So I told you about the TFSA, which may be used to buy and sell stocks.
I'll provide a link to a video on how to open a TFSA account in the description,
which is a pretty straightforward process, and I already showed you how to purchase, sell, and trade.
I hope you enjoyed and learned something from the video.
If you haven't already, follow me on Instagram since I perform live sessions
where I answer your questions on a regular basis.
You should also subscribe to the channel so you don't miss my upcoming content.
Take care until then. Bye-bye guys, have a good one and stay safe.
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