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iShares Russell 2000 Growth ETF (IWO $284.45)
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BMO S&P 500 Index ETF (ZSP $94.16)
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iShares Russell 1000 Growth ETF (IWF $431.91)
Q: My son is 20 yrs old just opened a TFSA has $15K to invest for 10+yrs, Looking for high growth, Fairly risk tolerant, Can you please suggest how many and what Stocks/ETF's to invest in (US and/or Canadian) to get started? Thank you.
5i Research Answer:
Starting out, we would prefer a growth-oriented ETF for diversification, such as IWF (large caps) or IWO (small caps). A general market ETF such as ZSP can also be suggested. With a small amount of capital, commissions (if applicable) can add up, and it can be hard to diversify properly with a few stocks. But we could see BN, TRI, LMN as potential stocks for conservative growth companies in a TFSA. All in, we might start with one ETF and a couple of stocks.