First-time investing: most common questions

These days, finfluencers, or influencers who offer investing tips, are enjoying quite the buzz on social networks. The proof? Nearly 28% of Canadians have turned to social networks, online forums or financial influencers to manage their personal finances¹. The percentage is even higher for the 18-30 demographic. The quality and reliability of this content is not all the same though, so it’s important to take it with a grain of salt and consider all the elements in play to get a proper, nuanced view. Some finfluencers, for example, are not properly registered to recommend or promote the investments they are hyping. This year alone, the Autorité des marchés financiers met with between 25 and 30 influencers to remind them of their obligations. They even conducted searches on some as part of active investigations².

How can you untangle the true from the false on social media and know what really works? Here are some concrete guidelines, presented question by question.

You may know nothing about stock markets, but you surely know your own habits. Before jumping into stocks or other investment vehicles, you need to ask three questions. Why am I investing? When will I need this money? And will I toss and turn all night if my portfolio sinks by 15%? Your answers will help guide your investment decisions.

Next comes the first real decision: do I need guidance to help me reach my objectives? There’s no wrong answer to this. It all depends how confident you are. If the idea of selecting your own investments stresses you out more than it gets you stoked, a Desjardins advisor can help you set up a customized portfolio strategy that takes your objectives and investor profile into account. You won’t have to learn everything overnight.

Absolutely! Of course, $25/week won’t get you rich quick, but it will give you something precious in the long run: a sustainable habit that time will make work for you.

The true advantage comes in getting an early start: even investing modest sums at 18 years old can get better results in the long run than waiting around a few years to invest the same amount. When it comes to investing, time normally plays a key role in the growth of your savings.

According to financial planner* Angela lermieri, the two approaches can easily work hand in hand. “Investing regularly helps build good savings habits, while boosting the investment when additional money comes in lets you take advantage of opportunities to increase your money more quickly: these are two complementary, valuable approaches to investing effectively.”

The principle is simple: invest when funds become available. An income tax refund, for example, or a month with three pay periods (which often pop up twice a year) are great opportunities to grow your savings and accelerate your progress toward your financial objectives.

Keep in mind that frequency helps you optimize, while discipline makes all the difference. It’s investing regularly over the long term that really counts.

Investing by selecting your own securities is totally doable, but you need a basic grasp of the stock market and investments: you need the knowledge to determine your very own investment strategy.

Knowing your behaviour is a good rule of thumb here as well. If a high-stress situation inspires you to slow down and think through solutions rather than panic, you likely have the profile to manage your portfolio yourself. If not, there’s no need to pilot the plane that gets you to your destination.

If you choose the self-directed route, be careful: nobody is safe from making emotional decisions. Selling in a panic during a market downturn is a classic trap, while overconfidence after a few successes can be just as dangerous. It may lead you to take risks that you wouldn’t have taken in the first place.

Even if it’s smart to start saving early for retirement, it may not be your main objective right now. The best savings plan depends on your objectives**.

If your goal is to buy your first home, and if you’re eligible, an FHSA, or first home savings account, is built for just this end. However, an RRSP may also be an option, particularly when it’s part of a broader tax strategy.

When it comes to retirement savings, some people prefer an RRSP, while others get more from a TFSA, or even a combination of the two. The choice really depends on your current financial situation and anticipated future needs.

For a medium-term project, like renovations, travel or simply building up savings without a goal in mind, the TFSA can offer greater flexibility. Your investment income can grow tax-free, while withdrawals are generally not taxable. It can also be a simple way to develop good savings habits, even with modest amounts.

Investing comes with risks, but so does not investing. Leaving your money in a chequing account, for example, can lead to a drop in purchasing power over time due to inflation. This risk, however, must be weighed against the risks that go with different investments, which vary according to the products.

In the short term, stock markets can definitely be volatile. But rather than concentrate your investments in shares in just one company or sector of activity, it’s generally recommended to choose a diversified approach to spread the risks and take advantage of different growth opportunities.

We’re hearing more and more about gold as a safe-haven asset and cryptocurrencies as “miracle” investments. These perceptions must be qualified though: investing in precious metals or cryptocurrencies demands more caution, because these stocks can experience major, unpredictable fluctuations in value. It’s therefore best to invest in them only once you’ve established a solid foundation of stable, diversified investments by discussing them with somebody you trust or an advisor.

Social networks are overflowing with advice, some of it useful, well intentioned and educational. Other advice is totally false or overly simplistic, and some tips are just scams. So how do you tell the difference? Before following an influencer’s advice, double check if they are registered with the AMF in Quebec, or other regulatory body. Investing in two minutes of such research can save you from nasty surprises later on.

Specifically, do not trust investment opportunities that promise high returns with low risk in any kind of market. These kinds of promises are unrealistic, as low-risk, high-return products are few and far between. To learn more about the red flags, check out the article: Investment fraud: 6 tips to help you spot the signs.

In the end, a TikTok tip cannot replace the expertise of a registered advisor. Prevention is better than the cure, especially when it’s your portfolio that’s taking the hit. The good news? You can find entirely free, accessible sources that you can trust. By consulting a Desjardins advisor, for example, you can build an entirely customizable financial plan.

In the end, investing is a habit that is built one step at a time, whatever your income, age or knowledge level. You start by getting to know your investor profile, selecting investments that suit it, and using savings plans that meet your objectives and eligibility. Most of all, you want to get an early start, because time will always be on your side when it comes to investing.

One last reminder for the road: if someone promises you guaranteed returns, spectacular gains or a risk-free way to get rich quick, it’s a red flag. If it’s too good to be true, it’s usually a scam. Put your trust in qualified sources and keep in mind that investing in a trusted relationship pays off too.

* Financial Planner and Group Savings Representative at Desjardins Financial Services Firm

** For further details on the different plans, visit Compare savings plans

¹ La Presse (July 27, 2025), Une vingtaine d’influenceurs contactés par l’AMF.

² Autorité des marchés financiers (June 6, 2025), Influencers under surveillance: AMF joins forces with regulators across the globe