Page 12 - eBook

LESSON 4

OPENING A TAX-FREE

INVESTING ACCOUNT

Okay! We’ve finally made it to investing.

A. You've got the right mindset.

B. You're living below your means and paying down high-interest debt first as
you slowly make your way through all of your debt.

C. You’re saving money every paycheque, even if it's $20 a week, and your
building that healthy habit.
D. Now you’re ready to invest.

Let’s talk about opening an investment account based on the country you live in:

USA – Roth IRA
Canada – Tax-Free Savings Account
UK – ISA (Individual Savings Accounts)

These investment accounts are tax free, meaning you pay less or some�mes

li�le to no tax for any money you made in these accounts. These are the
accounts you want to open! Remember, when you open up an investment
account, make sure it is a "Self-Directed BROKERAGE Account!" You can open

these online.

If you walk into a bank branch and
try to open this, they may try to sell
you a mutual fund. Say NO and ask

again that you want to open a
"Self-Directed Brokerage Account".

The reason I'm telling you to say no
is because Mutual funds offer high
Management fees! The banks take

home the profits, and you don't.

Sankeethan Ratneswaran – 2021 Copyright 12