If you have no Debt and middle aged. You still have time to have your money work for you long term. Pay yourself first and more if you are able too. Another avenue....Why not seek an investment advisor or visit a strong Brokerage firm for assistance. Have your money work for you instead of in cash. Unless, you have short term plans to utilize your funds elsewhere.
The Cost of Living in the Lower Mainland
- Thread starter GentlemanPlayer
- Start date
City of Burnaby raise property taxes 20% last year as well, around the same time they gave city councilers 100% pay increase.
Maybe I've been talking to the wrong people; most of the time their fees eat up most of the "potential gains".
If you are eligible to gain a wealth manager, fees may be negotiable depending how much money you have to invest. Bank(s) funds, I imagine are set because you buying their products. ETF's, are the way to go if you're concerned about FEEs.. They have much lower MER fees than your standard funds imho. The large banks have their own Brokerage department attachments. There are INDY brokerage firms such as Canaccord Genuity that are available. Personally, Canaccord, I like them. This spectrum is far to in depth to discuss but, like anything you have to do you D&D in this business.
You won't get away from fees unless you do it yourself. But, if you're confident enough to do it yourself, then go for it.
You won't get away from fees unless you do it yourself. But, if you're confident enough to do it yourself, then go for it.
Owned multiple businesses. Some did well, some crashed and burned. Luckily, the ones that thrived sold for good profits, and I never had to declare bankruptcy over the ones that failed, and paid my debts off.
I have a house all paid for, that I probably should rent out, but I like my privacy. Have a business now that generates a small, but steady income. My investments, so far, have done well, but Trump might throw those for a loop. Wish I'd have invested in investment property in the Lower Mainland 20 years ago, but was more comfortable gambling on myself at the time.
I have a house all paid for, that I probably should rent out, but I like my privacy. Have a business now that generates a small, but steady income. My investments, so far, have done well, but Trump might throw those for a loop. Wish I'd have invested in investment property in the Lower Mainland 20 years ago, but was more comfortable gambling on myself at the time.
To each their own, imo no Place North of Northern California, should be over 1 million dollars for a house. Why? Winter and its too long up here Its the cruelest thing God ever created and let unleashed on mankind.
I am out of here in a NY minute once money comes in.
I am out of here in a NY minute once money comes in.
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Went through the whole investment advisor route for a few decades, and figured they were all taking 1/2 or more of what my investments earned without sharing any of the risk. Fired them all, and switched to an on-line discount brokerage just when covid hit. Put all my $$ into index ETF’s.
Nice rebound, rode through the interest rate rise ok—rebalanced with more bonds/cash and less equities for a while, and watched for dips to buy.
I’m sticking with the simple DIY approach, and finding it easy to tweak an ETF-only portfolio, to roll with Canada/US/Global trends, rebalance between equity Index ETF’s bond/fixed ETF’s, commodities ETF’s when the markets react to uncertainty and the VIX spikes up. Also shift between Cdn$ and US$ accounts when Cdn$ is high/low.
Just like Buffet said. Index ETF’s offer the casual invester the lowest possible fees, massive diversification, simple decision-making, and “let hard-working Americans do the work for me”. I still pick a few individual stocks and some are winners, some are losers, but <10% of the portfolio gives me the jollies of playing the market and patting myself on the back when a ten-bagger hits, which outweighs the anguish when grudgingly accepting that I gotta dump a loser. But if I hadn’t been trading for years I wouldn’t pick stocks at all. I tell my kids to think long-term and just make some regular payments into a few index ETF’s to sleep well at night.
Same here. I, for the most part, do much of it myself. I was once with Canaccord which they did well for me at that time. Currently, I always have cash at hand and have a mix of ETF's --- in various sectors -- along with a diversification in stocks which pay some nice dividends. Mainly quarterly but some are monthly. I'm more than ok with my current mix.
I've found most of the wealth managers are looking at high net worth. I wouldn't qualify. Fortunately there is a wealth of info online as long as you're careful with the source. As soon as I sense the "sales pitch" I just bail. Looking at Questrade and ETFs. Still in the learning process and not comfortable with committing to actually putting in the hard earned money, but time is running out.
You're one of the few who realize they are taking a significant portion of your earnings. I hate when the advertise only X% of you investments and know what $ of your earnings the take.
I don't like the market as it is too "emotionally" driven.
My line of work is has always been in demand, so cash flow is nice and allowed me to make some good, secure, high return investments and have the toys and hobbies without too much worry.
Thankfully in a position to be helping the community as much as possible.
My line of work is has always been in demand, so cash flow is nice and allowed me to make some good, secure, high return investments and have the toys and hobbies without too much worry.
Thankfully in a position to be helping the community as much as possible.
