CANADA: Investing Your Disability Or Welfare Cheques With Your Caseworker

Like this...to get started don't worry about if the page is Canada or United States or not, we just want to get the idea of what we are doing as a basic understanding.

Which service you use can be figured out later.

What you welfare or disability caseworker needs you to do is to hold like $20 a month off your cheque.

Then the rest is as simple a registering a basic internet website, only instead of a domain name it is a Penny Stock.

What you need to do this is several things a bank account with debit and credit card features like a Visa or Mastercard debit, which is just the credit card feature with allows you to shop on the internet with you debit card as a Visa or Mastercard.

I'm pretty sure most debit cards have this feature. 

The debit / credit card at the bank on your chequing account will then allow you to access the Federal Government through online banking to process your Federal Benefit Payments from Revenue Canada.

Then you need a place to buy stocks and an account selection to spend your $10.00 a month.

Then take the receipts to your welfare worker and then she will start the process to approve you for your Federal Emergency Tax Credits like extra GST rebates when available.

With your online bank account you need to open an online stock market purchasing account at Amertrade or E-Trade. 

In Canada I believe Ameritrade is TD Bank Ameritrade.

Open an account at Ameritrade:

E-Trade if available:

Then get a list of Penny Stocks from www.allpennystocks.com that you will purchase on Ameritrade.

In this example I'm getting BAYTEX, HEXO Corp and MEG Energy.

Like this:

BTE Baytex : $0.66

HEXO $0.94

MEG Energy: $3.52

It's good to get two cheap stocks and then a $4 stock just to compare the stock growth differences on the TSX page.

Then buy that every month with your ten dollars. 

Then give all your receipts to your case worker which is like once a year, that is all you have to do.

That's only $5 to get started in Penny Stocks.

After your review your worker will know which stocks you have on Ameritrade, like in the Ameritrade picture she will just be able to look up which stocks you bought to see how your investments did each year.

Then she will review your Ameritrade investments and let you know what rebates you can apply for like the covid disability tax credit and help you begin the approval process.

This is important because she can just follow along with you separate at the Community Services office because she has your investments list, so like in the picture in the screen above you just hold $20 off your cheque per month then she will review how your stocks are doing to review for your extra benefits just for having money in the account.

Then having your caseworker handle your stock file for you off your welfare or disability cheque will approve you for future rebates from the federal government through her office because she will known what you qualify for by watching your investments remotely at her desk on your case file.

Then when new programs come up she can automatically approve them for you.

-update-

So I just checked and Ameritrade takes you to TD Bank, so you need a TD Bank Investment login to open an account to buy stocks and bonds for your welfare case worker.

Instead of doing all that I'm just going to stop in to the bank this week and then just schedule and appointment to open the RRSP and Mutual Fund package at my bank.

Then if they don't have a stock market investment package with that, which they probably do then I will go to TD Bank to get the rest through Ameritrade.

Then I will let you know on this page how it all went and how long it took as I progress to apply for my Federal Tax Credits of the Federal Corporate Investments Program.

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