A five-question starting point
Before “what should I buy?” ask better questions.
This path helps organize your research. It does not determine whether investing is suitable for you or recommend a product.
Is this money available for a longer-term goal?
Money needed soon may not have time to recover from a market decline. Review upcoming expenses, emergency savings and debt obligations first.
What is the specific goal?
Name the purpose, approximate amount and date. “Retirement in 25 years” creates a different research problem from “home purchase in three years.”
How would a loss affect the plan—and you?
Risk capacity is financial; risk tolerance is emotional. Both matter, and neither can be reduced to a promise of higher returns.
Which account rules apply?
TFSA, RRSP, FHSA and non-registered accounts have different eligibility, contribution and tax rules. Verify current details with official sources.
Will you invest independently or seek advice?
DIY investing requires research and ongoing decisions. A registered adviser can provide individualized recommendations for a fee.
Further reading: CIRO: DIY vs. advised investing.