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Old 02-21-2021, 12:20 PM
mrcrossbow mrcrossbow is offline
 
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Default Investing for retirement, what you do, need ideas

So iv hit a age were, iv started thinking about money and what I'll do when I can't work anymore due to age or won't want to any more. I'm starting late but, it never to late iv heard.
Iv decided that 10% or any incoming money will be invested, even money from bottle returns.
Then I split the 10% 5% stocks and 5% crypto ( eth and btc) and stocks mostly ones that have a quarterly return.
I'm not to worried about stocks going up and down short term cause I figured that in ten years they should go up no matter what. Then returns from quarterly pay outs I will put in a tfsa., does this sound like a decent plan. I'm Interested in hearing what other people do or idea how to tweak my plan.
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Old 02-21-2021, 12:37 PM
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Ken07AOVette Ken07AOVette is offline
 
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People have to do what works for them. There is no formula.
The only sure way to have money put aside is to control spending and work.
Everything else is a lottery.
When I hit a certain amount in my savings every damn time I went into the bank the tellers were asking about my investments.
'You should set up a meeting with our investment team'
'Have you got your RRSP'S done for this year's?
I go in for a deposit into my account after being at the same bank for 40 years and the recently relocated 30 year old filipino is telling me what I should do with my money. (Dont read into that, half the tellers at my bank are ftw's from the Philippines).

I had phone calls from the bank constantly wanting me to meet with an advisor, and trust me it is not a lot of money. The last time it happened after telling them to never ask me again I called for a manager, and told her to close my personal and corpor6accounts immediately. I was just plain tired of it. She put a note on the computer and they have not asked me since.

People with a million dollars in their account must need a secretary just for the calls from investors.


If you have spare money to gamble with by all means go for it, but remember every investment banker or advisor is paid on commission. They are there to make their company money off your money and give you a little portion back.

Personally I prefer having full access to my money without penalty or permission, if I see something I want I take my cash out. Locking in my money for a year for 1.5% makes no sense at all to me.

It may work for others though.
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  #3  
Old 02-21-2021, 12:45 PM
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Homesteader Homesteader is offline
 
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Have you seen a 10yr return on MEG lol.

Iím not a great investor. Simple rules Iíve learned that work for me.

I donít worry about what percentage I can save. Anything I have thatís surplus to paying my operating costs goes into some form of savings. If itís not in my regular account, I donít feel like blowing it.

Save money where you can and spend it on what works for you. For me that means I didnít have a huge cell plan, cable package, Starbucks etc. I do have more shooting irons then the average bear. Iíve been very fortunate and had a good start, and a solid career.

I always wanted the debt payed down first, now a days Iím not sure thatís sound advice. Utilize your TFSA amounts. Some will say no to RRSPís, but I think they are good for the working man.

Canít really give you more advice then that. Read lots. If I donít understand it, I definitely wonít invest any serious money in it. Good luck.

PS, I see I also type too slow
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Old 02-21-2021, 12:46 PM
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Done a bunch of things over my life, made some, lost some.
If I had it all back I would put it into Canadian bank stocks.
They pay a decent dividend and they appreciate.
RBC 1995 price was $31 current price $108 dipped as low as $36 in 2008 but paid 4% dividends all the way through with negligible risk.
So $1000 investment in 1995 would be worth $3500 today and would have paid approx $2880 in dividends over that period as well.
Boring as heck but...
If you need a little flutter you can always sell covered calls
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Old 02-21-2021, 01:06 PM
badbrass badbrass is offline
 
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but remember every investment banker or advisor is paid on commission.
This is not true! Our advisor is paid by the hour! And I try and avoid one that is not!
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  #6  
Old 02-21-2021, 01:13 PM
Arty Arty is offline
 
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We are now in a very screwy global financial situation, which is unlike anything most have seen in this lifetime. So the rules of 'investing' have sort of disappeared and it's turned into a free-for-all. It's a bad situation for subjecting your savings/profits to risk.

The worst is the huge amounts of debt and 'money printing' that has occurred in the last 10 years, as well as artificially low interest rates that mask the real cost of money and associated risks. The dynamics have all changed, capital ownership has become hugely more concentrated, poverty widespread, and government involvement in everything more extensive.

There is still the tax-postponement or tax-avoidance nature of RSPs, but once the money is in there, it should not be subjected to much investment risk. TSFAs could be used if there is some kind of lower risk investment where you want to protect profits from tax, but you'd lose much faster from capital loss than any tax on potential profits.

Problem is, cash is losing to the 'inflation-tax' too. The government(s) stealth tax called inflation is set up to maintain social programs without huge tax increases, and to pay for last years debt and deficit with next years cheaper, inflated, worthless money.

A lot of things like the stock market, bond prices, some commodities, and consumer basics continue to shoot the moon despite bad global economies everywhere, small business collapses, and pandemic unemployment. That's solid evidence of inflation, despite government-reported inflation statistics.

Probably the best strategy in the foreseeable future is to stay conservative, diversified, and use bull call spreads on liquid titles that seem to be going up in 'rising tide lifts all boats' mode. XOM, F, and CPG.TO have recovered a bit in the last couple of months. Maybe in a pullback a b.c.s. on those could be good. If you were a HODLER of ether or bitcoin, and did your own mining, then it would be good to continue in it. But dumping after-tax fiat savings into crypto-currency speculation at this point is just plain wrong. And difficult, because there's significant account restrictions and tax implications now on flipping back and forth between fiat and crypto-currencies.
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Old 02-21-2021, 01:20 PM
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Fill your TFSA and invest with it
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Old 02-21-2021, 01:58 PM
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Max out TFSA. Best return vehicle out there. Thank the Harper administration for this Investment account. Was at $11,000.00/yr. liberals and a Trudeau didnít want people being control of there money. So liberals cut this program in half to $5500.00 max. Now itís $6000.00. Liberals want middle class to rise, yet take away the vehicles that will allow them to prosper. The East keeps voting in these goofs.
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Old 02-21-2021, 04:04 PM
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Quote:
Originally Posted by MountainTi View Post
Fill your TFSA and invest with it
x2
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  #10  
Old 02-21-2021, 04:12 PM
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Quote:
Originally Posted by Ken07AOVette View Post
People have to do what works for them. There is no formula.
The only sure way to have money put aside is to control spending and work.
Everything else is a lottery.
When I hit a certain amount in my savings every damn time I went into the bank the tellers were asking
about my investments.
'You should set up a meeting with our investment team' 'Have you got your RRSP'S done for this year's?
I go in for a deposit into
my account after being at the same bank for 40 years and the recently relocated 30 year old Filipino
is telling me what I should do with my money. (Dont read into that, half the tellers at my bank are ftw's
from the Philippines).

I had phone calls from the bank constantly wanting me to meet with an advisor, and trust me it
is not a lot of money. The last time it happened after telling them to never ask me again I called for a
manager, and told her to close my personal and corpor6accounts immediately. I was just
plain tired of it. She put a note on the computer and they have not asked me since.

People with a million dollars in their account must need a secretary just for the calls from investors.


If you have spare money to gamble with by all means go for it, but remember every investment banker
or advisor is paid on commission. They are there to make their company money off your money
and give you a little portion back.

Personally I prefer having full access to my money without penalty or permission, if I see something
I want I take my cash out. Locking in my money for a year for 1.5% makes no sense at all to me.

It may work for others though.
There is some real Gold above, he who hath common sense ears to hear..
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Old 02-21-2021, 04:23 PM
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Open a TFSA or a trade TFSA. Buy and hold stock in a TFSA and reinvest the dividends directly back into your TFSA. Kills both of your needs at one time. Fill the TFSA first and get it to max contribution first.

Then open a RRSP account. Can be an investment RRsP account or it can be a RRsP Trading account like the trading TFSA. RRSP allows you to leverage a tax reduction on the income you earn per year.

I use Wealthsimple app for my trading / stocks in a TFSA account (buy and hold and re-invest dividends into the stock within my TFSA). Growth and earnings are tax free... but you can not treat your trading TFSA like a business and buy sell buy sell buy sell like a swing trader would.

I use Edward Jones and Canaccord Genuity for majority of my RRSP (accumulated over the years from employment matching plans and transferred out to them to manage). I must admit that I also have some money invested in my other Wealthsimple account that is a trading RRSP account. This one I use for doing swing trades quick buys and sells when stock goes up fast.
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Old 02-21-2021, 04:49 PM
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Red Bullets Red Bullets is offline
 
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Said in jest, sort of. A good investment might be to buy that therapeutic bed and mattress, the walk in bath tub, and stairway rail chair now. Think of everything you will need at home when you are old and invest in those things now. Or when you get old those things will be so expensive they will chew up your investment dividends.
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Old 02-21-2021, 05:41 PM
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Pay off all non-mortgage related debt. If you have employer matching RRSP, do that. Invest it in an index tracking fund. Mine RRSP is with RBC (I hate the bank but have to be with them due to the work plan). Open a TFSA, max it out or do the best you can and invest it in an index tracking fund. Tangerine has some low MER ones if you like to set and forget. Wealthsimple has some and Questrade offers something similar if you like as well. I've always figured 10 - 15% of you net income invested will lead to a comfortable, though not lavish retirement and an enjoyable life if you're able to live within your means and avoid debt.

5% of my paycheck is deducted by my employer and put into an RRSP invested in an index fund focused on equities. My employer fully matches my 5%, so that's easy money and investment returns are a bonus. If I didn't have the employer matching, I'd be putting it all into my TFSA. I don't like RRSPs otherwise. 10% of the remaining income is put into my TFSA and invested also in an index fund portfolio focused on equities. 5% of the remainder goes into personal/household investments: long term food, medical supplies, tools, reloading components, additional training/courses etc. Every income tax return and unexpected windfall (super rare) is put against the principal of my mortgage.

I have a roughly 30 year investment horizon so I'm comfortable with the higher risk of being fully in equity investments. I do want to start buying some gold but it'll have to be a work in progress given the high price per oz and the difficulty in buying fractional amounts. I'll probably slowly starting buying gram gold, then sell it to buy an ounce when I have enough then repeat. It'll be no more than a few percent of my income though.

Last edited by Outbound; 02-21-2021 at 05:48 PM.
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  #14  
Old 02-21-2021, 07:17 PM
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Unless you work in the industry get a financial advisor.
I am very happy with the results with Dave Henderson at Manning branch ATB. Also he is a shooter.
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  #15  
Old 02-21-2021, 07:39 PM
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EZM EZM is online now
 
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Quote:
Originally Posted by Ken07AOVette View Post
People have to do what works for them. There is no formula.
The only sure way to have money put aside is to control spending and work.
Everything else is a lottery.
When I hit a certain amount in my savings every damn time I went into the bank the tellers were asking about my investments.
'You should set up a meeting with our investment team'
'Have you got your RRSP'S done for this year's?
I go in for a deposit into my account after being at the same bank for 40 years and the recently relocated 30 year old filipino is telling me what I should do with my money. (Dont read into that, half the tellers at my bank are ftw's from the Philippines).

I had phone calls from the bank constantly wanting me to meet with an advisor, and trust me it is not a lot of money. The last time it happened after telling them to never ask me again I called for a manager, and told her to close my personal and corpor6accounts immediately. I was just plain tired of it. She put a note on the computer and they have not asked me since.

People with a million dollars in their account must need a secretary just for the calls from investors.


If you have spare money to gamble with by all means go for it, but remember every investment banker or advisor is paid on commission. They are there to make their company money off your money and give you a little portion back.

Personally I prefer having full access to my money without penalty or permission, if I see something I want I take my cash out. Locking in my money for a year for 1.5% makes no sense at all to me.

It may work for others though.
I agree everyone should stick to doing what they are comfortable doing first and foremost - NOBODY should be risking anything they can't afford to loose HOWEVER ....

Here are some of my thoughts ......

- Leaving money in the "bank" in a saving account will NEVER allow you to build wealth .......you should, at the very least use your TFSA to invest on low risk mutual that are heavily weighted in bonds (at the very least) instead of collecting simple interest where you are actually "loosing" value over time as any "gains in interest" you think you are making are easily outstripped basic inflation. This is a Fact. It is easy to verify on the intranet so don't take my word for it - it is what it is. Banks don't loose. This is one reason why.

- ALWAYS avoid high interest debt, and live within your means, it always seem so crazy to me who people who worked for me, and made far less money, had bigger homes, fancier cars, more toys compared to me - but at age 39 I had no mortgage and zero debt and haven't looked back once. Having said that, mortgage debt is low interest and many investments return at a higher rate (positive$) compared to the added interest (negative$) - so I have advised my friends and family to carry a mortgage and invest into equities if you are aged 20-40 for sure). This is another topic - but it worked for me, and doing this paid off my mortgage in 7 years for me (that otherwise would have lowered my P&I over that same term).

- INVEST smartly and diversify - personally I have some real estate stuff me and my partners do, some mutual funds, some straight equities, and maintain a little bit of cash. I'd say it's, by percentage 30/30/30 with 10 percent cash in my case. The cash makes me no money, but if my (or one of my kids) roof leaks, furnace goes, car engine blows, I want a vacation, etc...etc.. I can pay for it.

Needless to say - don't get advice on a Forum. Everyone is an expert. I am just offering you my 2 cents, and what I say is nothing but 2 cents and my sincere opinion - but do what you want and be comfortable doing it.
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Old 02-21-2021, 08:08 PM
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What worked for us:

1) Pay off debt. Delay purchasing non-essentials to pay off your mortgage as soon as you can. Pay off any vehicle or other loan. A $1000 big-screen TV now, will equate to costing you $10,000+, if it means you don't use that $1,000 to put against your mortgage. Ask yourself, is this TV worth $10,000 ? Spend on experiences - especially with family & friends - not so much on 'things'.

2) Unless you're prepared to follow the markets daily, prepared to make tough financial decisions often, and probably lose sleep questioning your decisions through market variations, hire a professional. We had no skill or interest in international finance, and preferred to put our attention into family and our careers. Some people are good at it, and handling the stress, we're not.

3) Take your time, and pay lots of attention to finding a professional financial advisor. Use references. If you're involved in any non-profit organizations that have a board of directors that includes a finance committee - see if you can get a referral on what firm, and the individual they use as their financial advisor. Why ? - because boards of non-profits are often made up of successful, professional, well-connected people. Their finance committees are a subset of board members who are very knowledgable of the financial world, and are responsible for managing the assets of the organization - often including huge 'legacy fund' investments. If you can tap into that bank of knowledge in choosing your financial advisor, you're way ahead in the game. If you can get a referral from your contact in the not-for-profit, their investment firm may take you on as a client. Usually the same advisor doesn't manage small-potato individuals, but sometimes they will - to stay in the not-for-profit's good books.

4) While you're working, tell your advisor that you aren't afraid of risk. Be prepared for some set-backs, but let your advisor work for you. You should be able to sleep nights, and not have to follow the financial news every night. You're paying the pro to handle it. Over 10 - 20 years, your wins will outweigh your losses, and you'll see some solid growth. Your advisor will handle how to utilize your RRSP and TFSA accounts to your best advantage. If the same firm can do your tax returns for you - bonus!

5) As soon as you retire, switch your strategy away from higher risk and growth, to low-risk and dividend income. If you've reached a million $, you'll be making about $30,000 annually in dividends, (and your professional advisor will be making ~ $20,000 in fees & commissions). Add on your Canada Pension Plan and the Old Age security at 65, and any company pension plan you might have, -- you'll manage well - and leave a nice nest egg behind for your heirs. We set a maximum investment amount, that we need to generate the dividend income we need, and if the investment portfolio grows beyond that 'max', it's fun money that we spend on vacations, charities, home improvements, and fine fly rods (toys)! If the value drops below our 'max', we suck it up on frivolities, and wait for the portfolio net value to come back up.

We started in our late 20s, fiddled and farted around with some not-so professional advisors, lost a lot of sleep, finally found a good one and stuck with him. Lived fairly frugally, but not poorly. Made good use of the bounty of the annual fall hunt! Also took advantage of my employers contribution when I purchased company stock through payroll deduction, and their RRSP contribution program - good while it lasted! Just a high school education, but worked steady & hard, never on UI or other government assistance, - 65 now, living well and not too worried about our financial future, despite Trudeau's efforts.

Worked well for us - The best advice: Start now !
- good luck.
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Old 02-21-2021, 08:08 PM
350 mag 350 mag is offline
 
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What's your time horizon?

What's your risk tolerance?

Certified Financial planners will probably recommend a 60/40 portfolio.

Many now are suggesting staying away from the 40% bonds because of impending Bond crisis(debt).

I would recommend maxing out your RRSP, and rolling your tax return into TFSA.


This is what I would do...but I am not a CFP....so caution on taking this advice.

Right now I would recommend 10% physical Gold and Silver in form of CEF(Sprott Fund).

40% cash. ( In case of deflation). If there is a correction or crash you can buy the bottom.

I would also recommend 5% B.M.O etf ZTL (U.S Long term Treasuries).

5% in B.M.O ETF ZTS ( U.S Short term Treasuries.)

I am NOT a USD bull but in case of crash that's where the world runs.

I would put 10% in Bitcoin etf BTCC, just launched on Thursday.

The rest would be put into a Base Metals ETF, Gold and Silver miners ETF, maybe an India,( emerging markets ETF).

I think we could see Deflation followed by rapid inflation in 2021.

You need to protect against both those scenarios....

Gold and Silver miners have never been this cheap....

Also Commodities super cycle might come in a small window...1-1.5 years....before we get Economic Depression?

No one really knows....

As long as the FED keeps printing and injecting liquidity into markets these bubbles could keep going!!
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Old 02-21-2021, 10:07 PM
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Quote:
Originally Posted by mrcrossbow View Post
I'm not to worried about stocks going up and down short term cause I figured that in ten years they should go up no matter what.
Tell that to a Japanese guy who dropped all his savings into Nikkei on March 8, 1991. He broke even end of last year and made just under 13% as of the last close.

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Old 02-21-2021, 10:45 PM
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NYSE averaged about 9% last 120 years. No guarantee next 120 days but I've been investing for years. My portfolio is much, much, much larger than it would have been without most of my savings in the NYSE & TSX. Not even close. I've enjoyed the profits of responsible companies paying dividends & stock growth. The growth has allowed diversification as well.

It's almost impossible to simply save enough for retirement, some investing is necessary for growth to outpace inflation. Good luck!
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Old 02-21-2021, 10:47 PM
brendon444 brendon444 is offline
 
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Wallstreetbets YOLO
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Old 02-21-2021, 10:52 PM
Buckhead Buckhead is offline
 
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Quote:
Originally Posted by fishnguy View Post
Tell that to a Japanese guy who dropped all his savings into Nikkei on March 8, 1991. He broke even end of last year and made just under 13% as of the last close.

Which is exactly why you don't dump all your money into one investment at one point in time.

There needs to be some diversification and some dollar cost averaging.
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Old 02-21-2021, 11:03 PM
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^ No doubt, but that wasnít my point.

Quote:
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Wallstreetbets YOLO
This is the way. Lol.
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  #23  
Old 02-21-2021, 11:07 PM
skidderman skidderman is online now
 
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Finding a good financial advisor is like winning the lottery. Have had several & no longer have any. Went with word of mouth more than once & it was a disaster. My guess is there are some but rare. Be picky when looking for one. If he/she can't shut up, walk away. A key thought might be this: Learn from what the rich do not some idiot that says they know it all but are broke.

Key things are:
Pay down & eliminate debt
Live within your means. Most don't.
Invest wisely. I suggest individual stocks are high risk on their own.
In mutual funds or etf's invest in material. i.e. CN, CP, Banks & so on
My bet is that bitcoin or similar will be become extinct in time. You want to gamble it all away? It's your choice.
Use any & all tax breaks such as TFSA
RSP's have a purpose but expect to pay royally once you turn 71.
I'm no advisor. Just my take on years of trying to survive. And I certainly don't have all of the answers.
Best of luck to the op and others.
If you really want to learn follow Dave Ramsey. He is on youtube.
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Old 02-21-2021, 11:15 PM
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......
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  #25  
Old 02-21-2021, 11:46 PM
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Well what I did so far is read a bunch of books and educated myself. I've read "The Intelligent Investor", "Security Analysis", "One Up on WallStreet", "Rich Dad Poor Dad", "The Total Money Makeover", and "The Wealthy Barber", along with articles, letters, and podcasts.

First I've started my own business to hopefully improve my income. It's been taxing with Covid, but I'm still optimistic.

Second, I had the pension from my old job paid out and am managing it myself. I currently own 3 stock that I can follow and I feel are good bets at this point. VZ, CVX, and TRP.TO

I did have JPM and XOM but have sold them. If you want to trade US stock I highly recommend a RRSP as their dividends arent taxed in a RRSP account. A TFSA is a great place to put Canadian Dividend payers, and high growth stock. I plan to switch over my TRP.TO once I have enough cash to fund the TFSA. It wasnt possible this year as I use my TFSA as a emergency fund as well and due to covid and the lack of demand had to use it.

Lastly we rent. For us the cost of renting is cheaper at the moment then buying. With the mortgage cost, maintenance, insurance, and property tax in town it doesnt seem worth it. My plan is to buy a quarter section to run cattle on through my company, then subdivide a small acreage as our personal residence off that quarter. We'll see if we get to that point, but I'm hopeful.

Other then that I.dont invest in things that are based on speculation. So I dont invest in Bitcoin, or venture companies that havent made money. I might miss out on some huge gains once in awhile, but I sleep a lot better knowing I shouldn't lose a lot of money either. The one thing with investing is you only need to be right a handful of times to really make a huge dent in your portfolio so why swing for the maybes?

Lastly if your not educated and willing to do the work. I highly suggest you dont trade individual stocks. Instead buy the US Stock Index and just be consistent in buying it. Most advisors can't beat the index. You can look up Jack Bogle on this one. Theres forums and facebook groups for like minded people called Bogleheads.
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  #26  
Old 02-22-2021, 12:37 AM
fishnguy fishnguy is online now
 
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^ What makes you think VZ is something good to own? It literally has done nothing in the last 5 years:



Apparently a lot longer, lol. Here it is vs SP500:



Unless there are some big plans on the horizon, this is probably one of the worst tickers to have in the portfolio. Sure, you will collect some pennies in the dividends. Good luck getting ahead.

What you want is growth. Who cares about 63 cents worth of dividends, really? Imo, itís a waste because that money could actually be working somewhere. Something as simple as SPY would get you miles ahead (because it moves exactly like that black line on the graph above).

Investing into something only because it pays dividend is really missing out on real gains elsewhere.

I wouldnít be diving into the other two at current prices either. Perhaps, would stay away from TRP completely, unless it dips quite a bit.

Edit: why didnít you follow your own advice about investing in index and buy some SPY instead (or most of anything else, for that matter)?
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Old 02-22-2021, 01:39 AM
raab raab is offline
 
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Quote:
Originally Posted by fishnguy View Post
^ What makes you think VZ is something good to own? It literally has done nothing in the last 5 years:



Apparently a lot longer, lol. Here it is vs SP500:



Unless there are some big plans on the horizon, this is probably one of the worst tickers to have in the portfolio. Sure, you will collect some pennies in the dividends. Good luck getting ahead.

What you want is growth. Who cares about 63 cents worth of dividends, really? Imo, itís a waste because that money could actually be working somewhere. Something as simple as SPY would get you miles ahead (because it moves exactly like that black line on the graph above).

Investing into something only because it pays dividend is really missing out on real gains elsewhere.

I wouldnít be diving into the other two at current prices either. Perhaps, would stay away from TRP completely, unless it dips quite a bit.

Edit: why didnít you follow your own advice about investing in index and buy some SPY instead (or most of anything else, for that matter)?
Well the dividend is $2.51 per year, or 0.63 cents per quarter. So a 4.5% US return before growth. With a 4.5% dividend I dont need a stock to grow a ton to have a solid yearly return.

With regards to the chart you posted. That's exactly why I bought Verizon, its undervalued in comparison to the market. But if you look in 08 and now, cell phones have somewhat become recession proof. People will pay their cell bills before utilities. And at a time like this you want secure stock that won't lose value. So with the fact it's under valued AND they should have good earnings going forward. I think it's a good stock to hold. For me I see both TRP and VZ going to around $80 dollars within the next year or two, while paying a solid dividend. I'll take the growth+dividend payments. If I can return between 10-20% annually for the next 35 years, I won't have to worry about retirement. Very boring strategy, but it is what it is.
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Old 02-22-2021, 02:20 AM
fishnguy fishnguy is online now
 
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^ What are your valuations based on? A hunch? Within ďthe next year or twoĒ is quite an estimate. No one among the top analysts seems to share the sentiment either.

You said yourself, follow the index. Then you said not to pick individual stocks, yet you pick three, two of which are in the same sector and the other one is VZ. If you are planning to have 10-20% annual return with either of the stocks you mentioned, good luck with that. If you think that something that has been stale for almost two decades now is undervalued compared to ďmarketĒ... Lol. Sure, maybe you are right. Highly, and I mean highly unlikely. Market doesnít work like that. In fact, VZ hasnít even caught up to itís pick value before the ďcellphone boomĒ.

Anyway, good luck. Sorry to the op if this is a derail, not sure; maybe a good example of what not to do.

Last edited by fishnguy; 02-22-2021 at 02:25 AM.
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  #29  
Old 02-22-2021, 07:53 AM
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58thecat 58thecat is offline
 
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Take a few courses and read a few books too...not going to give advice other than that because its a touchy subject when it all goes to hell and you can blame someone...I dont even give advice to my kids other than that and the little bit of advice my grandma said as she put a handful of change on the table and told me to always put a little away for a rainy day...been doing this ever since then...my son took a few courses etc and last year invested 10k now its 60k....not on my advice though,,,all his doings.

Good luck.
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Old 02-22-2021, 08:25 AM
fishtank fishtank is online now
 
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Depending on time frame. You can build a position say over a year and just keep adding to it donít expect lot of return but think of it as you retirement savings, most case you be ahead on average by picking the top of the pack like Apple been dominant in their sector for years, rio tinto, Exxon, Facebook, p&g . Obviously Time frame wise the longer you can average the better and catch the cycle .
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