How to invest with Confidence.

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Ken7
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How to invest with Confidence.

Post by Ken7 »

This am a lady from BC Securities was on TV. She was speaking about investing. One thing woman tend to be more cautious then men, and worried about losing their nest egg.

Then she went on about the pandemic how it impacted people today. I found it interesting when she spoke about people seem to be still saving money as they did before.

I laughed, todays majority who were blue collar workers, have mortgages, vehicle payments, child care, TAXES and at the end of the day enough for a case of beer if they budgeted correctly.

When you look at the reports on debt load I think there is not a large group saving!

What's your take....
TylerM4
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Re: How to invest with Confidence.

Post by TylerM4 »

This is a women who usually only works with upper middle class or wealthy individuals. The two demographics who aren't as impacted by the pandemic as their jobs are often able to be worked from home, etc. Makes sense that what she sees is "mostly the same as normal".
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Ken7
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Re: How to invest with Confidence.

Post by Ken7 »

https://bankruptcycanada.com/insolvency ... %20$17,370.


I pulled this up and it appears the average BC resident is about $24,000.00 in debt. When the average is in debt at that level, not a bunch of money being socked away!
Even Steven
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Re: How to invest with Confidence.

Post by Even Steven »

Ken7 wrote:I laughed, todays majority who were blue collar workers, have mortgages, vehicle payments, child care, TAXES and at the end of the day enough for a case of beer if they budgeted correctly.
There are two types of people.

Those who invest their money and those who buy a case of beer every day.
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Ken7
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Re: How to invest with Confidence.

Post by Ken7 »

Even Steven wrote:
There are two types of people.

Those who invest their money and those who buy a case of beer every day.

I was thinking lucky to have enough on payday....not daily. Hell you could pack a lot of cash away at even $20.00 a day.

After thought, when you consider people buying their two coffees a day and possibly cigarettes, maybe it's a discipline thing...
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Gone_Fishin
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Re: How to invest with Confidence.

Post by Gone_Fishin »

Chrystia Freeland is concerned that people have put a few dollars away for tougher times ahead, and she said that the Liberals are ready to squeeze you to spend your money.

Seems some women don't like that people save, especially the Laurentian Elitists in the Liberal Party of Canada.

So, the lady interviewed today is correct in that people have saved some money as they cautiously eye our economy that has been devastated by Freeland and Co, but she probably didn't mention that the Trudeau government wants to spend your savings account for you.
Freeland says some Canadians have saved too much cash

Now she’s trying to figure out a way to get it out.


Federal Liberal Finance Minister Chrystia Freeland says Canadians have too much money in their bank accounts.

Now she’s trying to figure out a way to get it out, prompting Tory finance critic Pierre Pierre Poilievre to warn Canadians to “lock up their money.”

“Folks, lock away your money. Liberals are worried you’re saving too much. They want “ideas on how the government can act to unlock” those savings. No, Trudeau, people’s savings don’t belong to you. Keep your hands where we can see them,” Poilievre tweeted.

https://westernstandardonline.com/2020/ ... much-cash/
ΜΟΛΩΝ ΛΑΒΕ

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Gilchy
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Re: How to invest with Confidence.

Post by Gilchy »

Ken7 wrote:https://bankruptcycanada.com/insolvency ... %20$17,370.


I pulled this up and it appears the average BC resident is about $24,000.00 in debt. When the average is in debt at that level, not a bunch of money being socked away!
Or you can have a car loan being paid monthly as well as active monthly savings contributions. Not sure why it has to be an either/or decision, especially when loan rates are as low as they are currently.
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Queen K
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Re: How to invest with Confidence.

Post by Queen K »

Someone, anyone, explain the concept of "saved too much cash" when we're told all the time to save for our retirement years.
If Putin stopped, he'd be saving Russian lives as well.
typhoon44
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Re: How to invest with Confidence.

Post by typhoon44 »

Queen K wrote:Someone, anyone, explain the concept of "saved too much cash" when we're told all the time to save for our retirement years.
I assume it relates to the cash component of your investment portfolio. Holding cash (in GICs) means you are losing money every year to inflation. It is impossible for 99.999% of people to retire when "cash" is their major holding.
Even Steven
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Re: How to invest with Confidence.

Post by Even Steven »

Gilchy wrote:Or you can have a car loan being paid monthly as well as active monthly savings contributions. Not sure why it has to be an either/or decision, especially when loan rates are as low as they are currently.
Good point. The debt level only reflects how easy and how affordable debt is. People can be sitting on hundreds of dollars in their investment accounts, and still have debt because it's cheap, and it makes more sense to borrow, keep the cash, and invest said cash on the market.
TylerM4
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Re: How to invest with Confidence.

Post by TylerM4 »

typhoon44 wrote: I assume it relates to the cash component of your investment portfolio. Holding cash (in GICs) means you are losing money every year to inflation. It is impossible for 99.999% of people to retire when "cash" is their major holding.

I think you missed that this question was in context of that article containing remarks from minister of finance. If you read the article the finance minister is saying "Lots of people have increased their savings during the pandemic. For the sake of the economy, it would be best if they spent it". She was speaking about what is best for the economy, not what's best for the average household. The article itself is obviously from a biased source as it's trying to villainize liberals by twisting what she said.

Outside of the context of the article which lead to the question - I tend to agree. Putting all of your money as "cash" in a checking account isn't great financial planning. Only keep your money as "cash" for short term needs or emergencies.
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OKkayak
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Re: How to invest with Confidence.

Post by OKkayak »

There was a report that the average price of a car in Canada today is about $42000, up $12000 from just a few years ago. The average car loan is now 84 months, so thats $600+ a month for 7 years of your life, all because people "want". No kidding they ain't got no money to invest.
Sparki55
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Re: How to invest with Confidence.

Post by Sparki55 »

OKkayak wrote:There was a report that the average price of a car in Canada today is about $42000, up $12000 from just a few years ago. The average car loan is now 84 months, so thats $600+ a month for 7 years of your life, all because people "want". No kidding they ain't got no money to invest.
Don't show that stat to the socialist housing movement. They won't believe anything else went up by 30%
lcpp64
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Re: How to invest with Confidence.

Post by lcpp64 »

OKkayak wrote:There was a report that the average price of a car in Canada today is about $42000, up $12000 from just a few years ago. The average car loan is now 84 months, so thats $600+ a month for 7 years of your life, all because people "want". No kidding they ain't got no money to invest.
I think they are just following the Fed Libs financial planning advice of spend now ,,,
typhoon44
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Re: How to invest with Confidence.

Post by typhoon44 »

TylerM4 wrote:
typhoon44 wrote: I assume it relates to the cash component of your investment portfolio. Holding cash (in GICs) means you are losing money every year to inflation. It is impossible for 99.999% of people to retire when "cash" is their major holding.

I think you missed that this question was in context of that article containing remarks from minister of finance. If you read the article the finance minister is saying "Lots of people have increased their savings during the pandemic. For the sake of the economy, it would be best if they spent it". She was speaking about what is best for the economy, not what's best for the average household. The article itself is obviously from a biased source as it's trying to villainize liberals by twisting what she said.

Outside of the context of the article which lead to the question - I tend to agree. Putting all of your money as "cash" in a checking account isn't great financial planning. Only keep your money as "cash" for short term needs or emergencies.
Don't confuse 'I can't spend money so I have some' with 'I am saving money for retirement'. The large cache of cash is mostly the former. When the world opens this money will be spent (and will prop up the economy).

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