Looking for advice
I’m 17 years old M, and looking to open my own TFSA and RRSP. I have a few questions I’d like to hear a few answers to
1
From a literal standpoint, how should I open these accounts?
Through an online brokerage, through a bank, which bank, which brokerage, etc…
I’m looking for the best option for LONGTERM investing, and obviously trying to reduce fees and taxes as much as possible.
2
Are there loopholes to getting around contribution limits?
On this thread I’ve seen multiple posts of people in their early 20s with upwards of $100,000 in their TFSA accounts, and even more for RRSPs. Did they just bet all their money on penny stocks and one took off? How do these people invest so much so early
3
What do your guys’s accounts and investment strategies look like,
If you are someone with a large sum of money in these accounts how did you do it, why did you chose your specific investments, what advice would you give me as a 17 year old just getting started, I have experience in basic investing as I’ve run a TFSA under my dads name from when I was around 15 years old, but just curious on your outlooks and experience too.
Thank you!