Money After Graduation
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Money After Graduation is a financial literacy website dedicated to helping YOU manage your money better! If you want to pay off your debt, save for a house, and invest in the stock market, this is where you learn how.
They typically represent a physical asset, like a piece of art or land, but can also be a unique digital asset – like the very first tweet which is worth $2.5 million. The NFT of this digital work of Trump lying facedown in the grass by Beeple recently sold for a cool $6.6 million, and it’s no wonder: it’s mesmerizing. NFT art is particularly beautiful and interesting, so you may want to invest because you appreciate the art and want to own it simply for that reason. If you’re not familiar with the digital art world, artists, NFTs or cryptocurrency, it’s easy to make a mistake with what you’re buying.
The Registered Education Savings Plan (RESP) is a tool to help Canadians save for their child’s post-secondary education. The RESP is hands-down the best vehicle to set aside money for your child’s future because it is a tax-sheltered account and eligible for free money from the government such as the Canada Education Savings Grant (CESG) and the Canada Learning Bond (CLB). The Registered Education Savings Plan (RESP) is a tax-sheltered account to save for your child’s future education. The Canada Education Savings Grant (CESG) is money provided by the Government of Canada to help parents save for their child’s post-secondary education.
Mutual funds aren’t bad investments, they’re just not the best Mutual funds aren’t inherently bad, but they’re not as good as they could be. Because mutual funds are typically index funds that invest your money in a broad and diverse number of different stocks, they provide you exposure to the stock market at a much lower cost than if you were to buy individual stocks yourself. Mutual funds are actively managed investments, which means the portfolio management team is making decisions about what to buy and sell all the time. If you’re wondering where to invest instead of mutual funds, the answer is to use a robo-advisor or manage your own portfolio of ETFs.
There is one main cost to investing with a robo-advisor: the portfolio management fee. It is important to note that the advising or management fee charged by a robo-advisor does not include the fees of some of the funds they may invest in. It’s worth noting that you can significantly tax-shelter your investments by opening a registered account like an RRSP or TFSA with a robo-advisor. RBC InvestEase is not quite as hip as Wealthsimple and not quite as cheap as Questwealth, but they’re a great choice if you want to have your investments and day-to-day banking all in one place.