Are you cashing out / changing providers? Learn to close investment accounts.
Once you have a plan, open an online broker account.
Choose your ETFs and GICs. Use our research tables.
Build your portfolio by selecting ETFs/GICs in proportions that match your asset mix.
Once the account is open, you'll buy shares of the ETFs you've selected (selling is done the same way).
Buy GICs directly from banks that issue (create) them - it's the least expensive and easiest way (no transaction cost).
You're a do-it-yourself investor - you'll have to choose your own asset mix. Are you a conservative or an aggressive investor?
Don't stop saving. Follow your budget - when you've saved some money, transfer it to your investment accounts and buy additional shares of your ETFs / additional GICs, in proportions that maintain your asset mix.
Check your account once a year.
Own your investments, step-by-step.
ETFs (exchange-traded funds) are baskets filled with equity and / or fixed income securities. Instead of buying fixed income ETFs, you can buy GICs (guaranteed investment certificates) - they're simple and highly predictable investments.
Some ETFs are called index ETFs. 'Index' means the ETF represents the entire market for a particular fixed income / equity security (like all Canadian bonds or US equities).
Buying individual securities is risky. Buying a basket of them through ETFs reduces investment risk. Index ETFs reduce risk even more because they hold every security in their market. This is diversification.
You'll build your portfolio with 1-3 ETFs, matching your asset mix.
What's an asset mix?
Research and choose an online broker - you'll use it to buy your ETFs.
Use our research tables to choose a broker.
Consider GICs (guaranteed investment certificates) as an alternative to fixed income ETFs. They require slightly more effort because you have to set up a separate account / buy GICs / keep up with them - possibly having to deal with another financial institution. GICs often make more money than fixed income ETFs of comparable risk.
There are several other benefits.
ETFs and gics