To most U of T students, the thought of finding unused money to start investing with might seem impossible, but in fact it doesn’t take a lot to get started.
“If you have money lying around in your bank account that you’re not using now, then you should open an account tomorrow,” said Andrew Harrison, the co-president of the Toronto Student Investment Council.
According to Harrison, even if students are not in a position to invest, understanding how investments work is something students should know, given that most retirement savings are in the form of stocks.
“I find that many undergrads are intimidated by investing because it sounds too risky and unknown, but there are plenty of great resources out geared towards beginners,” wrote Caroline Tolton, a second-year majoring in international relations and health studies, in an email to The Varsity.
Joining pre-analyst programs at the Rational Capital Investment Fund (RCIF) or the general membership program at the Toronto Student Investment Counsel can also be useful first steps. As for gaining information, online resources like The Balance, Investopedia, and Khan Academy offer beginner-friendly