After nearly a decade of relatively stable growth, North American stock markets have begun to show their nastier side. New and novice investors may feel like they've boarded a stomach-dropping roller coaster. Add in headlines about the uncertain health of the economy, and it can be easy to second guess your wealth building plans. Here's the thing: While you may feel like pulling the covers over your head until the economy rights itself, that may not be the best strategy for your goals and time horizon. It is important to know your risk profile and do your research when choosing investments. And gaining ground is never guaranteed. Though if you do have many years ahead to grow your portfolio, there may be things you can do to position yourself for success, such as contributing regularly and using that time to your advantage. Here at MoneyTalk DIY, we gathered 15 of our colleagues and asked them what keeps them motivated to stay invested despite the detours this economy has thrown our way — potholes like higher grocery bills, larger mortgage payments and housing costs. In total, we came up with 23 reasons that we continue to love investing.

Number of Canadian households that subscribe to three or more streaming services each month.

Because investing is about more than retirement

Investing is often framed as a way to pay for retirement. But building a financial cushion can give you the freedom to do other things that matter to you too. Maybe you want to take six months off work for an epic trip. Investing can help make that happen. Interested in purchasing a home? Investing can help you grow the funds for a down payment. Investing may even help some Canadians work part time so they can pursue passion projects and spend more time with their loved ones. The first step to reaching your financial goals — whether they are near like a vacation, or far like retirement — could be as simple as opening up a self-directed TFSA. Want to know more? Check this out:

Because even normal inflation can eat your lunch if you let it

If you've been buying groceries, gas or anything else this year, you'll have felt the sting of inflation. But did you know that even a "normal" rate of inflation (which the Bank of Canada typically expects to stay in the range of 2%–3%) will erode your purchasing power over time? It's true. So, while it might be tempting to hang on to cash after a rough year in the markets, the value of your dollar will continue to evaporate if you just let it sit. That's one reason many investors keep an eye out for investments that could earn more than the rate of inflation.

Because for many of us, it's about time in the market, not timing the market

Here's the thing about trying to time the market: If you wait it out and miss the bottom of the market, you could be at risk of missing out entirely on the rally that follows. Stocks don’t go up in a predictable pattern — they go up and down in fits and starts. In fact, data from the past 30 years shows that investors who continue to invest — even through the cruelest bear markets — have historically benefited from market recoveries, as well as the bull markets that follow.

Because you're still figuring out where you see yourself in 5 years

While you work on your answer to that classic interview question, you can put your money to work investing for the long term. If you don't plan to touch your investments for a significant period of time, short-term drops may not be as much of a concern to you, and you can enjoy the benefits of the compounding gains over time. Want to see what your savings plan could look like? Try out the TD Compound Interest Calculator.

Because the TFSA limit recently rose to $6,500

Did you know the annual contribution limit for your Tax-Free Savings Account is set by the federal government and indexed to inflation? In January 2023, the limit raised $500 (from $6,000 in 2022) to account for a higher cost of living. Don't forget, your unused room accumulates. If you were at least 18 years old when the TFSA was introduced in 2009 and have never contributed or withdrawn from a TFSA, you will have built up $88,000 of contribution room to date.

Because yes, it is actually possible to max out your TFSA

Think $6,500 sounds like an impossibly big number? It's big, but not impossible. If you were to contribute $540 each month, you would reach a total of $6,480 in 12 months. That works out to about $18 a day — as much as some of us might spend on takeout.

…and a TFSA can be a great place for emergency savings

Where would you turn for money if you suddenly lost your job? A popular rule of thumb advises keeping three-to-six months' worth of expenses aside for emergencies, and your TFSA may be one place you choose to store and grow those savings. That's because a TFSA account lets you sell your investments and withdraw the cash at any time without paying tax on the money (unlike a Registered Retirement Savings Plan, for example). You can even recontribute the funds you withdrew starting January 1 of the following year — when hopefully you'll be back on your feet.

Because you can subscribe to your future self

If you were to subscribe to each of the top seven streaming services in Canada, you could easily spend $85–$100 a month. The truth is, many of us are already comfortable paying for a handful or more subscriptions each month. What would it take to add another to the list and set-up a monthly subscription to yourself in the form regular automated investments? For example, if you were to invest $100 in an index fund on the same day each month, you would benefit from something known as dollar-cost averaging. What that means is you could purchase more shares in the months the price is down and fewer shares in the months the price is up. Investing a specific amount at regular intervals is one strategy to help even out the regular ups and downs of a bumpy market. You can learn more about other basic investment strategies here.

THE POWER of staying invested

How much you could have in 10 years, contributing $100 monthly to an initial investment of $1,000, assuming an average return of 4%*

Because even GICs are giving investors reason to pay attention

The popularity of GICs has everything to do with their stability. It's in the name: Guaranteed Investment Certificate. While that stability rarely comes with a sizeable return on your investment, investors have watched the returns on some GICs rise north of 5% over the past year. GICs are part of a family of investment vehicles called fixed income, which also includes bonds. As the name suggests, these products can provide a predictable income stream over the term of the investment. With rates higher than we've seen in several years, even a growth-minded investor might ask whether GIC's deserve some attention in their portfolio. More on asset types here.

HOW I STARTED

Growing up as the child of first-generation immigrants, I saw what it was like to be in constant survival mode. That's why I made it a goal to always be prepared for unexpected life events. I'd been saving since I was 16, but when I got my first grown-up job after university I started putting away $100 every paycheque into an ETF.

Kanwal Rafiq, Social Content Manager, Age 28

Because investing may not be AS complicated as you think

Some people think investing requires hours of research, lots of money and a high-risk appetite. The truth is, you can start small and choose investments that suit your risk profile — whether you identify as a conservative or aggressive investor, and whether you think you'll need the money sooner or later. Say, for instance, you start with $100 in an Exchange-Traded Fund that suits your risk profile. You may find that watching that small amount grow throughout the year is highly motivating. And using an app like TD Easy Trade can help keep things simple. Learn more about Direct Investing at TD here.

Because when you do retire, wouldn't you like to celebrate in style?

Sure, you don't know what you'll be doing that many years from now. But let's imagine you're juuuust about to retire. How are you going to celebrate that special milestone? With a cruise? To Alaska! And let's presume you'll want to do it in style. That might cost you $5,000 a person today. In 38 years, it could cost as much as $12,778 — 155% more! And that would just be adjusting for a "normal" 3% rate of inflation. The point is investing can help you build a nest egg that makes even big goals seem possible. None of us knows what a cruise to Alaska is going to cost in 2060 — or, for that matter, if we might need to pack our surfboards.

Feeling discouraged about up-and-down markets? We spoke to a wide range of investors who shared 23 reasons they love investing — even when markets are choppy.

Investing isn't something you need a lot of experience in to get started. For many of us, the knowing comes from the doing. Apps like TD Easy Trade can help you open an account and start investing with no minimums and 50 commission-free trades each year. As well, you can learn more about self-directed investing at MoneyTalk DIY.

Because nobody starts as an expert

Yep. As we said before, inflation can eat your lunch. Or at least your lunch money. Between October 2020 and February 2023, consumer prices rose by an average of 4.70% per year . Put that another way: If you had tucked a $100 bill in your wallet in 2020 and left it there, it would have lost about $10 in value. That's $10 less sandwiches and fries' money. A slightly less attractive pair of jeans. Or the chance to spend that $10 on something better in the future. And that's where investing may come in: Anything you can do to put your money in a position to compound (ideally by more than the rate of inflation), can help ensure you've got a little extra lunch money down the road.

Because this is how much $100 in cash has lost since 2019

In 2022, the S&P 500 index dropped -23.9% from Jan 1 to Sep 30. By that measure, if you had invested $100 in a moment of New Year optimism on the first business day of January 2022, it would be worth — cue sad trombone sound! — a little more than $75. Here's the thing: 1992 wasn't much of a great year either. But if you had invested $100 in the index on January 1, 1992, it would be worth — cue Arsenio woof sound! — about $1,641 today, assuming you reinvested all dividends. That works out to an annualized return of about 9.5% per year. The point being, if you've got a few decades to spare, you might have a great opportunity to grow your money.

Because history can sometimes repeat itself

How much you could have in 10 years, contributing $100 monthly to an initial investment of $1,000, assuming an average return of 4%*

THE POWER OF STAYING INVESTED

Ryan Adelson, Digital Marketing manager, Age 31

I was in my late 20s when I decided that anything would be better for my savings than making pennies in interest. My dad was happy to help. He came prepared with data to share, which showed me how great my returns could be as I invested towards long-term goals such as buying a house. He told me the time to get started was now and showed me why through his data points, because as we all know, seeing is believing.

HOW I STARTED

Did you know the first use of the term "Black Friday" was to describe a financial crisis that occurred in 1869? We use the name today to describe the doorbuster sales that occur following U.S. Thanksgiving. However, anytime the economy dips, many stocks can effectively go "on sale." With a longer-term investing horizon, if you do your research and only invest in companies you believe will rise in value, "buying the dip" may be an opportunity to purchase a stock at a price tag that is lower than it may have in the future. You may even experience a rebound as the economy recovers. There's a saying many seasoned investors repeat: If you liked the company yesterday, you may like it even more when it's down.

Because your favourite stocks may be down but are they out?

What sounds more appealing: Buying the latest must-have gadget? Or investing in the company that makes it? Maybe the answer can be both. Sometimes the things we spend our money on can give us investment ideas. For instance, data shows the average consumer replaces their phone every 2–3 years . And running shoes? Well, if you're clocking 20 kilometers a week, you may need a new pair every eight to ten months . Are these clues to a great investment? Your spending urges could spark your awareness of investing opportunities. You can learn more about where great investing ideas come from here.

Because it can be as much fun to invest as it is to spend

The cost of buying a home in Canada is still startlingly high and home ownership rates have been declining overall, particularly among younger Canadians . Predictable housing expenses, along with the flexibility to pick up and move more easily, can make renting appealing for many. Creating an investment strategy that allows you to build wealth through registered accounts could be an alternative to building equity through home ownership.

Because home ownership isn't the only way to build long-lasting wealth

In the past year, the price of real estate in Canada has fallen by as much as 15% in some regions , due to a combination of rising interest rates and other measures. For many Canadians, this has reignited the desire for home ownership. And while putting together the money for a down payment is never easy, the arrival of the federal First Home Savings Account may help. Introduced in 2023, this registered account allows you to save for your first home tax free, much like a TFSA, while receiving eligible tax deductions, much like an RRSP.

Because OMG the price of a home is

The current average lifespan of a Canadian is 82 years, according to The World Bank . And it has been increasing steadily. That means you're going to need some money in reserve for your senior years. The good news? Because an investment's return is often compounded over time (once interest and regular contributions are factored in), younger Canadians have more time than previous generations to grow their retirement nest eggs.

Because let's face it, you're probably going to live a long time

In my late 20s, a friend told me putting money in an RRSP would boost my annual tax refund. I didn't fully understand why, but that was enough to get me started. Not very sophisticated, but you've got to begin somewhere!

Greg Bonnell, Host of MoneyTalk Live, Age 51

HOW I STARTED

Investing doesn't have to be an all or nothing opportunity. Taking a close look at your budget can help you to see how much money you can afford to save or invest each month. By setting up an automated contribution to your investment account, and timing it to your payday, you can ensure that the money moves before you end up spending it on discretionary purchases. This technique, also known as "paying yourself first," can help remove the temptation to skip a contribution. That little bit of forward-thinking may mean can enjoy your fancy coffee and avocado toast — guilt-free — while staying on track to meet your goals.

Because you should be able to have your avocado toast and eat it too

After

How does a Tax-Free Savings Account work?

*Assumptions: Initial invest of $1,000, with regular recurring investments of $100 on the first of each month, compounding annually at a rate of 4%.

How much you could have in five years, contributing $100 monthly to an initial investment of $1,000, assuming an average return of 4%*

THE POWER of staying invested

SOURCE: ANGUS REID

*Assumptions: Initial invest of $1,000, with regular recurring investments of $100 on the first of each month, compounding annually at a rate of 4%.

*Assumptions: Initial invest of $1,000, with regular recurring investments of $100 on the first of each month, compounding annually at a rate of 4%.

23 Reasons we love investing