Q: Our 19 year old daughter has funds to maximize her first TFSA contribution, and to start contributing to a FHSA. Her profile is conservative. What advice would you give her? Which companies or other instruments do you think she should consider?
5i Research Answer:
For new investors we like to suggest ETFs to start off with, for instant diversification and low cost (some brokers allow ETF buying for free). VFV we think is a good starting fund, or VBAL if an investors wants to be more conservative and have some bond exposure as well (it is 60/40, stocks/bonds).
Authors of this answer, directors, partners and/or officers of 5i Research and/or affiliated companies have a financial or other interest in VFV.