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How to invest like a pro (when you’re just a beginner)

Start investing today

  • Enjoy the benefits of having a professionally-managed ETF portfolio
  • Choose from a range of account types including TFSAs, RRSPs, RESPs and RRIFs
  • Track your goals from any device

As long as you have $1k in the bank you can start investing with an online platform like SmartFolio – and you can do so from the comfort of your sofa.

Investing in the stock market may seem daunting– but the truth is, you don’t need an MBA in finance to get started. You too can make your savings work harder for you. Here are four simple things you can do to dip your toes in the market, and, before you know it, invest like a pro.

1. Invest like a pro with as little as $1k:

Is a professional portfolio manager even interested in your thousand dollars? The answer is yes. As long as you have $1k in the bank you can start investing with an online platform like SmartFolio – and you can do so from the comfort of your sofa. Of course, there are other online investing options (like self-directed investing), but if you’re not yet comfortable trading stocks yourself, SmartFolio is a great choice.

Whatever path you do choose, try to contribute monthly – even if it’s just a little bit every couple of weeks from your paycheck. Consistency is key, which is a good segue into our next tip…

2. Unleash the power of compound investing:

Just like a snowball rolling down a hill, you’ll see a lot more growth in your investments if you keep adding to them. As you make regular contributions, the money you earn from gains, interest and dividends is reinvested and keeps multiplying. This is why starting to invest early in life (even if your initial contributions seem small) is important. But even if you feel like you’re late to the party, you’ll still be putting your money to good use!

3. Get some help if you need it:

If you’re comfortable entrusting your money with experienced professionals, SmartFolio’s a good ‘hand’s-off’ choice. It gives you complete access to your investments, anytime anywhere, with the support of dedicated advisors to help you stay on track with your goals. There’s a live chat function too in case you want to learn more before signing up.

After signing up you’ll be able to contact real advisors over the phone, via email, or using live chat – so you’ll always have the support you need.

4. Find a mix that works for you

Not all portfolios are created equal. Just as everyone has varying financial ambitions and responsibilities, SmartFolio offers portfolios with varying risk tolerances. After answering a few questions about your financial goals, initial investment amount and risk level, you’ll be matched with a recommended ETF portfolio. A good rule of thumb to remember: the younger you are, the more time you have on your side to benefit from long-term upward trending markets. This often means you you can consider higher-risk investments that have the potential to produce higher returns over the long-run . On the other hand, as you approach retirement, lower-risk investments make more sense to preserve and generate income from your investments.

While these aren’t the only things to consider when you’re getting started in the market, they’re a good start. Investing’s not as hard as you might think, plus, with a service like SmartFolio you’ll be paying less than half the fees of traditional mutual funds (see how SmartFolio’s fees compare to traditional investing fees). On top of that, you can rest easy knowing your money’s being managed by BMO Nesbitt Burns’ Portfolio Managers and BMO Global Asset Management (one of the world’s largest investment management firms).

Want to invest like a pro? Curious about which portfolio might be right for you? Answer a few questions to get started.

Ready to start investing?

Open your SmartFolio account and let us help you reach your financial goals. Start by getting matched with an ETF Portfolio.

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