Over the weekend, I bit the bullet and went to TD bank and switched my TFSA mutual funds to a TFSA TD Direct Investing account. I also transferred a portion of the money in my Tangerine TFSA high interest account ($10,000) into my TD TFSA savings account so that I can use it to invest in stocks or other mutual funds in my TFSA TD Direct Investing account. I left about $5000 in the Tangerine TFSA account so that I can access it quickly if I ever need it.
The reason I transferred a portion of the TFSA money sitting in my Tangerine account is because I am not making much interest by letting my money sit in there. I need to learn how to grow my money through investing rather than just letting it sit in a high interest savings account.
This will be my first baby step in venturing towards buying stocks. I will be visiting TD bank again this coming weekend, the person who was helping me set it up my TFSA TD Direct Investing account as super nice and will show me how to use it. I will also use this opportunity to ask him about setting up the TD e-series funds as well.
As for my 2015 TFSA contributions, I might open a TFSA Questrade account and try that out. BUT First things first, I think I will give the TD Direct Investing a try and see how I like it. I will try Questrade in January when I am more familiar with trading and stocks.
How did you start trading stocks/ investing? Was it a nerve wracking experience? What kind of questions do you usually ask?
~The Money Pincher~
**This is not a sponsor post at all… I am just sharing my experience I have with TD and what I have decided to do. 🙂