What Is a Brokerage? How to Use One to Invest (and Avoid the Biggest TFSA Mistake)

Welcome back to Two Girls Investing Friday! This week, we catch up on the real costs of career growth and business renovations before diving into the foundational steps of investing. If you've ever moved money into a TFSA or RRSP but aren't sure what to do next, this episode will save you from missing out on serious compound growth. This episode covers the hidden costs of career growth and DIY business renovations, plus a beginner-friendly breakdown of what a brokerage is. We also reveal the massive $500k mistake Canadians make by leaving cash uninvested in their TFSA and how to choose the right investing strategy.

00:05 Podcast Intro

00:45 Conference Costs Reality

03:03 Superstore Free Gift Chat

04:14 Retail Costs & Budgeting

08:39 Money Mindset Shift

09:17 What Is a Brokerage

11:32 Accounts vs Investing Mistake

14:21 Cash vs Invested Example

15:50 Brokerage Options Canada

17:33 Self Directed vs Managed

19:25 Mixing Strategies