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I just opened an RRSP account and made my first contribution. How do I invest that money in an ETF and keep it inside the RRSP?



Our response:

An exchange-traded fund (ETF) is an investment fund that holds a collection of investments, such as stocks or bonds owned by a group of investors and managed by a professional money manager. ETFs trade on a stock exchange and can be sold short or margined. You can also trade in futures and options on ETFs.

ETFs can be purchased through a full-service or online trading platform. Before you work with an advisor or firm, check that they are registered in your province. Learn more about buying and selling ETFs.

If your current RRSP account is not set up to hold investments such as an ETF, speak to your financial institution about the rules to make a transfer to another RRSP account.

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