Q: My daughter is investing about $1500/month into an FHSA until the yearly $8000 max contribution is reached and will repeat this process for the next four years until the plan max of $40,000 is reached. What suggestions would you have in order maximize growth of the contributions given the relatively small $40k amount and short timeline (15 years from plan opening but only 10 years after the full $40k has been contributed) involved? Many thanks.
5i Research Answer:
We would side with a growth-focused ETF, such as VFV, or, if more aggressive, IWO. This will...
Authors of this answer, directors, partners and/or officers of 5i Research and/or affiliated companies have a financial or other interest in VFV.