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Old 02-22-2021, 10:22 AM
Ken07AOVette's Avatar
Ken07AOVette Ken07AOVette is offline
 
Join Date: Dec 2008
Location: Alberta
Posts: 24,076
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Quote:
Originally Posted by graybeard View Post
For me it was paying off my mortgage....After that I put money into low and non risk areas such as a GIC's, top up RSP's etc.....and, no chartered banks for me.

I worked too long and hard just to have a person lose it.... Everyone has "a guy" just know this guy.

Many a friendship and bankruptcy have occurred because you knew a "a guy"... Everyone knows a couple of people who thought they were financially smarter than everyone else
.

I may not be a millionaire but I am not living in a cardboard box either....Learn to live within your means....I can't imagine having to starting over...

Like KenAO said "People have to do what works for them. There is no formula".

IMHO

Good luck,
I agree, and thank you.

When the financial advisors are buying houses and vehicles and cabins and rental properties, do you think it is because they have invested 'their' money wisely?

No, it is because they are taking a little cut off everyone else's money.

A farmer here was going around getting people to invest with him. Many went bankrupt. He is just fine though. Think he is real popular?

A kid here went bankrupt a few years ago, then was calling trying to get me to invest with him.

These are people that for the most part do not want to work, they want to sit behind a desk on a phone staring at a computer trying to figure out how they can make money off what you have saved.

Sometimes it works, sometimes you lose everything. They do not lose, as it is your money they are playing with.

May as well take your savings to the roulette wheel at the casino (when it opens) bet on black or red. You will either win the same amount back or lose it all, but you have a 47.4% chance. Bet green (investor) hoping for the 22x payout and watch it come out red or black.

Best analogy I can make. There is no such thing as a totally safe investment (gamble).

In 2007/08 3 friends of mine lost hundreds of thousands of dollars they had invested in mutuals. 2 guys and their dad. Their dad is 70 years old and forced to work until he dies because due to no fault of his own, all his savings investments disappeared overnight. It was his choice to not leave it in savings though.
__________________
Only dead fish go with the flow. The rest use their brains in life.


Originally Posted by Twisted Canuck
I wasn't thinking far enough ahead for an outcome, I was ranting. By definition, a rant doesn't imply much forethought.....
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