Your First Investing Checklist

Your First Investing Checklist

Your beginner-friendly guide to getting started with investing in Canada

Your action checklist

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    Before you contribute: check your TFSA room

    The 2026 annual TFSA dollar limit is $7,000, but your personal available room may be different. It depends on when you became eligible, what you've contributed before and any withdrawals from last year. Check your exact room in CRA My Account before you transfer money. Over-contributing costs 1% per month on the excess.

    Step 4: How to choose your three ETFs

    Rather than picking three random ETFs that hold the same companies, understand what each fund does.

    TickerRolePurpose
    VEQT1. The foundation ETFGlobally diversified stocks in one fund.Broad exposure to companies around the world.
    VFV2. The U.S. market ETFTracks the S&P 500.Exposure to large U.S. companies.
    QQC.F3. The growth-focused ETFTracks the Nasdaq-100, hedged to the Canadian dollar.Greater exposure to large growth-oriented and technology-related companies.
    Important

    These are examples to research, not a recommendation to buy all three. VEQT already holds U.S. companies, and VFV and QQC.F overlap with each other and with VEQT. Owning all three increases concentration in some of the same companies. A single diversified ETF may be enough for many beginners.

    Step 6: Set up your automatic investments

    1. Open your account settingsLook for Recurring investments or the recurring-buy option. Menu labels may change with app updates.
    2. Select your ETFChoose the investment you researched and enter the amount you want to contribute.
    3. Choose your paydaySelect a recurring date after your paycheque arrives, then choose weekly, biweekly or monthly if available.
    4. Confirm your scheduleReview the amount, funding account and next scheduled date. Confirm the recurring order is active.