About this episode

Jess and Colleen discuss common mistakes beginner investors make and how to simplify investing with Wealthsimple.

In this episode, we (Jess and Colleen) break down the most costly mistakes beginner investors make and how to build a clean, straightforward portfolio today without the noise. Before getting into portfolio pitfalls, we share a quick laugh over local community Facebook drama and break down why switching to the Wealthsimple 2% cash back card beats complicated big-bank points systems. Then, we get honest about where first-time investors lose real money: high MER bank mutual funds, falling for internet hype, accidental ETF duplication, and gambling on penny stocks. Learn why simplifying your holdings into diversified, low-cost ETFs and mastering the emotional side of money is the fastest path to long-term wealth. 00:00 – Intro: What we’d do differently if starting today 00:48 – Unhinged local Facebook community boards & comment wars 05:11 – Credit card switch: Wealthsimple 2% cash back vs. Scotia bank travel points 08:32 – Mistake #1: Bank mutual funds and the hidden drag of 2%+ MER fees 09:44 – Mistake #2: Chasing internet noise, hype, and unresearched tips 11:38 – Mistake #3: Accidental portfolio duplication and ETF overlap 14:15 – Mistake #4: Penny stock gambling and the trap…

People in this episode

Hosts: Jess, Colleen

Topics covered

• beginner investing mistakes
• portfolio management
• cash back credit cards
• emotional investing
• low-cost ETFs

Keywords

• investing
• beginner mistakes
• Wealthsimple
• cash back
• ETFs
• portfolio
• emotional investing

Mentioned in this episode

Organizations: Wealthsimple, Scotia bank, bank mutual funds, ETFs, penny stocks

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