18 and ready to start investing for the first time!
Hey everyone. I'm 18 and I'm looking to invest my first $1,000.
I've done a little reading but honestly the amount of information out there is overwhelming. Some people swear by index funds, others are talking about individual stocks, crypto, TFSAs, FHSAs... I don't even know where to begin.
A few things I'm confused about: should I open a TFSA first before doing anything else? Is $1,000 even enough to start or should I keep saving until I have more? Is it better to go with ETFs or individual stocks as a beginner? And are robo-advisors like Wealthsimple actually worth it or is it better to just learn to do it yourself?
I'm not looking to get rich quick or anything. I just want to build good habits early and not make a rookie mistake with money I worked hard for. My timeline is long, I'm thinking 20+ years, not trying to cash out anytime soon.
Any advice from people who started young would be super appreciated. What do you wish you knew at 18?