Questrade in canada

Maggy

Confused about dryer sheets
Joined
Jul 22, 2019
Messages
4
Location
Iowa City
Hi guys,

My sister is Canadian. She recently got a chunk of money (about 40K) and she wants to invest it. I am looking for something like VTSAX or maybe some canadian index fund? Any advice? Something easy and low cost. Any tax implications I should know about?
 
She of course should already have a Tax-free savings account (TFSA)
The limits per year are $6,000
But I believe if a person has one, and has not filled it each year, that the contribution room carries over. This is very close to but better than a ROTH !!

So if she has one, she count put the money in it, and then invest that money in XIU.to so that the dividends and gains are tax free later.
 
If she has a Canadian bank account, she can invest in a low cost index fund without opening an investment account. TD e-series is one example.
 

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