2017 Saving and Investment Thread

The forum's Skid Road. DO NOT ENTER unless you're ready for a squabble.

Re: 2017 Saving and Investment Thread

Postby forum » Feb 7th, 2018, 10:11 pm

normaM wrote:ok, so we'll all be living in cardboard boxes in the gutter and walking everywhere.
I'm shocked some people don't drive to their garage. Auto industry would Goven bail outs anyways.
Meanwhile my Muttmobile gets me from point a to point b
But damn I'd relish new a new ride. Are you listening Forum? You my fav, I'd like a Stinger pls. Grey. TIA


You want a KIA Stinger GT?

normaM likes this post.
User avatar
forum
Guru
 
Posts: 5987
Likes: 1143 posts
Liked in: 1388 posts
Joined: May 10th, 2011, 8:08 pm

Re: 2017 Saving and Investment Thread

Postby normaM » Feb 8th, 2018, 7:01 am

yes please. I can pretend I'm racy and *bleep*.
I bet rich ppl don't worry the same way we ( I) do about saving and investments
Don't think yourself as an ugly person... Think of yourself as a beautiful monkey
User avatar
normaM
Buddha of the Board
 
Posts: 16605
Likes: 5072 posts
Liked in: 3407 posts
Joined: Sep 18th, 2007, 6:28 am

Re: 2017 Saving and Investment Thread

Postby forum » Feb 8th, 2018, 7:23 am

normaM wrote:yes please. I can pretend I'm racy and *bleep*.
I bet rich ppl don't worry the same way we ( I) do about saving and investments


They are obsessed. BNN playing in the kitchen all day everyday.
User avatar
forum
Guru
 
Posts: 5987
Likes: 1143 posts
Liked in: 1388 posts
Joined: May 10th, 2011, 8:08 pm

Re: 2017 Saving and Investment Thread

Postby Jonrox » Feb 8th, 2018, 10:44 am

I'll chime in with some advice that has worked for me for a good chunk of my investing.

Ron Popeil said it best... "set it and forget it".

Setup an automatic investment account that takes 10% of your paycheque (or whatever you can afford) and invests it in a low fee fund. If you're looking for a very easy setup and a few funds that have pretty good performance over the years, have a look at Tangerine's portfolio. I like them for an easy RRSP solution.

I find some people, especially some younger folks, get intimidated by investing. This solution is incredibly simple, easy to setup, and gets them started. It's just about the easiest way to get introduced the world of saving and investing. And once you start this, don't check it everyday... you're in this for the very long haul. You're not looking to jump in and out - just stay consistent with your contributions and you'll like what you see over the years. Don't worry about the ups and downs in the market (there will be too many of them to worry about... you'll drive yourself nuts), you'll average out in the long run and your money will grow!

If you're willing to put a little more research and effort into it, TD has a wide array of ETFs available.

W105 likes this post.
Jonrox
Lord of the Board
 
Posts: 3690
Likes: 389 posts
Liked in: 2107 posts
Joined: Apr 14th, 2010, 1:09 pm

Re: 2017 Saving and Investment Thread

Postby normaM » Feb 8th, 2018, 11:27 am

^^^ yea because the Lotto Gods aren't smiling down upon me. Ah to have been born to money instead I'm stuck with my sparkling wit :)
Don't think yourself as an ugly person... Think of yourself as a beautiful monkey

alanjh595 likes this post.
User avatar
normaM
Buddha of the Board
 
Posts: 16605
Likes: 5072 posts
Liked in: 3407 posts
Joined: Sep 18th, 2007, 6:28 am

Re: 2017 Saving and Investment Thread

Postby Jonrox » Feb 8th, 2018, 11:54 am

If you believe the multiverse theory, maybe you can take solace in the fact that there are lots of other normaM's that won the lottery and are living lives of luxury.

normaM likes this post.
Jonrox
Lord of the Board
 
Posts: 3690
Likes: 389 posts
Liked in: 2107 posts
Joined: Apr 14th, 2010, 1:09 pm

Re: 2017 Saving and Investment Thread

Postby W105 » Feb 8th, 2018, 12:09 pm

excellent simple advice Jonrox..got my kid into the game doing exactly that...biggest key is starting young :)
Last edited by TreeGuy on Feb 8th, 2018, 5:59 pm, edited 1 time in total.
Reason: Off Topic
W105
Lord of the Board
 
Posts: 3561
Likes: 1303 posts
Liked in: 3250 posts
Joined: Apr 20th, 2012, 7:46 am

Re: 2017 Saving and Investment Thread

Postby normaM » Feb 8th, 2018, 12:31 pm

Jonox - omg you are right! Lucky ID theft is fairly simple.
I'm more thinking my parents stole me for insanely rich people.
NormaVersace has a nice ring to it
Probably too late to put myself up for adoption.
Don't think yourself as an ugly person... Think of yourself as a beautiful monkey
User avatar
normaM
Buddha of the Board
 
Posts: 16605
Likes: 5072 posts
Liked in: 3407 posts
Joined: Sep 18th, 2007, 6:28 am

Re: 2017 Saving and Investment Thread

Postby W105 » Feb 8th, 2018, 1:13 pm

*removed*
Last edited by ferri on Feb 9th, 2018, 3:35 pm, edited 1 time in total.
Reason: Off Topic

Jonrox likes this post.
W105
Lord of the Board
 
Posts: 3561
Likes: 1303 posts
Liked in: 3250 posts
Joined: Apr 20th, 2012, 7:46 am

Re: 2017 Saving and Investment Thread

Postby Catsumi » Feb 8th, 2018, 3:53 pm

Oh, good grief!

Wander around the yard a bit, off the beaten path. The road not taken.

But, I digress.

:biggrin:
There is nothing government can give you that it hasn't taken from you in the first place.
Winston Churchill
User avatar
Catsumi
Lord of the Board
 
Posts: 3187
Likes: 3585 posts
Liked in: 2670 posts
Joined: May 24th, 2017, 7:26 pm

Re: 2017 Saving and Investment Thread

Postby TreeGuy » Feb 8th, 2018, 6:00 pm

I cleaned things up a bit.

Lets be civil and more importantly :topic:
User avatar
TreeGuy
Moderator
 
Posts: 2821
Likes: 1473 posts
Liked in: 2818 posts
Joined: Oct 9th, 2005, 9:02 pm
Location: Westbank

Re: 2017 Saving and Investment Thread

Postby forum » Feb 9th, 2018, 1:43 pm

TreeGuy wrote:I cleaned things up a bit.

Lets be civil and more importantly :topic:


Thanks!
User avatar
forum
Guru
 
Posts: 5987
Likes: 1143 posts
Liked in: 1388 posts
Joined: May 10th, 2011, 8:08 pm

Re: 2017 Saving and Investment Thread

Postby GoStumpy » Feb 19th, 2018, 8:57 pm

As volatile and crazy as the crypto space is, it has absolutely got me interested and involved in saving and investing money... it's FUN as hell, interesting in many ways, and something to learn... risk-reward is nice too ;)

:130:
Disclaimer: My posts may contain honesty. May not be suitable for all audiences.
User avatar
GoStumpy
Lord of the Board
 
Posts: 3586
Likes: 257 posts
Liked in: 462 posts
Joined: Feb 27th, 2008, 11:47 pm

Re: 2017 Saving and Investment Thread

Postby Bpeep » Feb 19th, 2018, 9:23 pm

normaM wrote:I'm more thinking my parents stole me for insanely rich people.


My parents sold me to poor people.
I have a baseball for you. You're more than welcome to rent it.

GoStumpy likes this post.
User avatar
Bpeep
Mindquad
 
Posts: 28547
Likes: 12473 posts
Liked in: 9902 posts
Joined: Mar 1st, 2008, 10:05 am
Location: Surrey-By-The-Lake

Re: 2017 Saving and Investment Thread

Postby 36Drew » Feb 19th, 2018, 9:51 pm

Jonrox wrote:If you're willing to put a little more research and effort into it, TD has a wide array of ETFs available.


ETFs. Take those over Mutual Funds. In fact, *bleep* mutual funds entirely.

Maximize your RRSP contributions. If you can go beyond your maximum, and you're married, contribute to your spousal RRSP. When you get your refund, then maximize your TFSA contribution. There's a happy mix as to which types of instruments to hold in which type of account. If you're starting out, don't worry about it. Just fill up the RRSP first, take refunds, put into TFSA. Pay someone to re-balance you to the happy medium based on age/goals/ability to pay in. If your investment portfolio is at zero, the balance doesn't really matter quite yet.

You should have some GICs and bonds just to "park" your money and keep it "safe". Not much. The amount will vary depending on your comfort level, goals, and portfolio size. These are a term investment. Pick a term you're comfortable with. If you don't know what to do but feel like you have money to burn - 12 months will keep your money at pace with inflation (you won't lose any) and out of one's grubby little spend-happy hands until you have some sense of direction.

Once you have six figures in the above, hire someone to manage it and keep it balanced. You can sometimes find a fee-based portfolio manager who will take care of you once you have $50k-$60k, but most want at least $100k. You shouldn't be paying any more than 1% in management fees - lower as your grow your portfolio. Don't hire the bank, and again - *bleep* mutual funds. The only people that make money on them are the fund managers. The bank gets paid by funds to sell/pitch them. In that relationship, you're the product not the financial instruments.

oh... Don't be like forum. crypto-currency is a ballsy gamble. You're doing the same thing as playing the forex market. If you don't know how to turn CAD to USD back to CAD and make money at it - then you're not smart enough to be playing the forex market... you're simply gambling. If that's the case and you're going to dump money into crypto, ask yourself if you'd dump that money into the slots or on the tables at the casino. If the answer is no, then don't dump it into crypto.
I'd like to change your mind, but I don't have a fresh diaper.
36Drew
Grand Pooh-bah
 
Posts: 2398
Likes: 25 posts
Liked in: 514 posts
Joined: Mar 29th, 2009, 2:32 pm
Location: Coquitlam

PreviousNext

Return to Bickering Room

Who is online

Users browsing this forum: CommonCrawl [Bot] and 2 guests