How to Use the Investcan App for Smart Investing

Open the InvestCan app and set up automatic deposits of at least $50 per week. This habit builds your portfolio steadily without requiring constant attention. The app rounds up spare change from everyday purchases, adding small but frequent contributions to your investments.

Focus on low-cost index funds like the TSX 60 ETF or S&P 500 ETF, which average 7-10% annual returns over time. InvestCan offers these with fees under 0.2%, saving you thousands compared to traditional mutual funds. Rebalance your portfolio every six months using the app’s one-click tool to maintain your target allocation.

Turn on dividend reinvestment in your account settings. Compounding works best when payouts automatically buy more shares. The app tracks your dividend growth and projects future income based on current holdings.

Use the Tax Optimization feature to place high-growth assets in your TFSA and dividend payers in your RRSP. The app analyzes your contributions and suggests the most tax-efficient allocation across accounts.

Check the Risk Analyzer before making large purchases. It compares new investments against your existing mix and flags potential overexposure to specific sectors. Adjust your choices based on the app’s volatility projections.

Smart investing with the InvestCan app guide

Set clear financial goals before using the Invest Can app. Define whether you aim for short-term gains, long-term growth, or passive income. The app’s goal-tracking feature helps align investments with your targets.

Use automated tools for consistent growth

Enable recurring deposits to invest fixed amounts weekly or monthly. The app’s auto-invest feature reduces emotional decisions and takes advantage of dollar-cost averaging. Even small, regular contributions compound over time.

Diversify across sectors like tech, renewable energy, and real estate. The Invest Can app provides instant access to ETFs, stocks, and bonds. Allocate no more than 10% of your portfolio to a single asset to minimize risk.

Monitor performance without overreacting

Check your portfolio once a week–not daily. The app’s analytics highlight trends without noise. Adjust only if an asset consistently underperforms for 6+ months or your goals change.

Reinvest dividends automatically through the app. This accelerates growth by purchasing additional shares without manual input. Over 5 years, reinvested dividends can contribute up to 40% of total returns.

Set price alerts for assets you own or watch. The Invest Can app notifies you when stocks hit predefined buy/sell thresholds, helping you act on data instead of impulse.

How to set up your first investment portfolio in the InvestCan app

Open the InvestCan app and tap Create Portfolio to begin. You’ll see three investment strategy options: Conservative, Balanced, and Growth. Choose one based on your risk tolerance–each option displays expected returns and volatility.

Select your assets

Pick from ETFs, stocks, or bonds available in the app. For beginners, a mix of low-cost ETFs (like S&P 500 or Canadian bonds) works well. Use the Auto-Allocate feature to distribute funds evenly or adjust percentages manually.

Set a monthly deposit amount–even $50 can start building your portfolio. Enable Round-Up Investments to automatically invest spare change from daily purchases.

Review and confirm

Check the projected growth chart and fees before confirming. The app shows a clear breakdown of management costs (typically 0.5%-1%). Hit Confirm, and your portfolio goes live immediately.

Track performance in the Dashboard tab. Adjust allocations anytime by dragging sliders–no penalties for rebalancing.

Tracking and adjusting your investments using InvestCan tools

Check your portfolio performance at least once a week using InvestCan’s dashboard. The app highlights key metrics like returns, risk levels, and asset allocation with clear visuals, so you can spot trends quickly.

Set up custom alerts for price changes, dividend payments, or news affecting your stocks. InvestCan notifies you when a holding moves outside your preferred range, helping you react without constant monitoring.

Use the rebalancing tool if your portfolio drifts more than 5% from your target allocation. The app suggests precise buy/sell actions to maintain your desired risk level, saving you manual calculations.

Compare your returns against major indices directly in the performance tab. InvestCan overlays your growth with benchmarks like the S&P 500, making it easy to gauge your strategy’s success.

Adjust your holdings in real-time with one-click trade execution. The app shows potential tax implications before confirming sales, preventing unexpected costs.

Review the fee analyzer monthly–it breaks down how much you’re paying in management costs across all investments. Lower expenses by switching to similar ETFs with lower expense ratios when possible.

Test different scenarios with the “What-If” simulator before making big changes. Input hypothetical buys/sells to see how they could impact your portfolio’s diversity and projected growth.

FAQ:

How does the InvestCan app help beginners start investing?

The InvestCan app simplifies investing for beginners with easy-to-use tools, educational guides, and pre-built portfolios. It offers step-by-step instructions, risk assessment, and automated features to help new investors make informed decisions without prior experience.

What investment options are available in the InvestCan app?

The app provides access to stocks, ETFs, bonds, and mutual funds. Users can also explore thematic portfolios, such as green energy or tech growth, and customize their investments based on personal goals.

Are there fees for using the InvestCan app?

InvestCan charges a small management fee, typically around 0.5% per year, but there are no hidden costs. Some transactions, like buying or selling certain assets, may have minimal fees, which are clearly displayed before confirming.

Can I track my investment performance in real time?

Yes, the app provides real-time updates on portfolio performance, including gains, losses, and market trends. Users can set alerts for price changes and view detailed analytics to monitor their investments.

Is the InvestCan app secure for managing my money?

The app uses bank-level encryption, two-factor authentication, and regular security audits to protect user data. Funds are held with trusted financial institutions, ensuring safety against unauthorized access.