Looking for some advice
Hey everyone, looking for some advice because I’m pretty new to investing and personal finance.
I’m a 27M in Canada, recently graduated and started working as an RN. My annual income should be around ~$120k depending on overtime/differentials. I feel like I’m starting late compared to people who began investing in their early 20s, but I’m trying to get serious about it now.
So far I’ve:
Opened a TFSA and FHSA
Put about $10k in my TFSA, currently all in iShares Core Growth ETF Portfolio (XGRO)
Maxed my FHSA for this year with $8k, currently all in Global X High Interest Savings ETF (CASH.TO)
I mainly picked those after doing some reading online and trying to keep things relatively simple and lower risk.
Monthly expenses are roughly:
Rent: $1200 including utilities/internet
Car: paid off
Insurance: ~$300
Groceries + other spending: ~$1000
I also have about $65k in student loans.
My goals are:
Grow wealth long term
Buy a place in maybe 3-4 years
Keep risk relatively moderate since I’m still learning
A few things I’d love advice on:
Am I on a reasonable track or am I actually behind for 27?
How much of my income should I realistically aim to save/invest each month with my situation?
Should I keep things simple with ETFs like XGRO and CASH.TO, or should I be looking at other investments?
Is there another account I should be opening besides TFSA/FHSA? RRSP maybe?
With current interest rates/student loan terms in Canada, would you aggressively pay down the student loans or just continue regular payments while investing more?
Since I want to buy within ~3-4 years, how would you split money between safer investments vs growth?
Appreciate any advice. I’m trying to build good habits early and avoid making dumb mistakes while still maximizing returns.