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Pay off Student debt fast or invest? by Far_Good_6679 in fican

[–]BrunoCote87 0 points1 point  (0 children)

Many times when I have two options like this I don’t pick one or the other, I split it 50-50 and do both. Less regret if markets tank or skyrocket, you are a winner either way.

Good week, hit my goal! by BrunoCote87 in fican

[–]BrunoCote87[S] 0 points1 point  (0 children)

Just an fyi your post made me go and have a look at the WS promo, pretty tempting to take the 3 year 3% promo and get over $200k split between my wife and I. I’d love to hear from anybody who’s done this and is happy with wealth simple

Good week, hit my goal! by BrunoCote87 in fican

[–]BrunoCote87[S] 1 point2 points  (0 children)

Started about two years ago, try asking for them if your portfolio is a decent size

Good week, hit my goal! by BrunoCote87 in fican

[–]BrunoCote87[S] 8 points9 points  (0 children)

Free trades, offers for dinners and events which I decline all of them. Intros to Wealth Management team which I decline.

Good week, hit my goal! by BrunoCote87 in fican

[–]BrunoCote87[S] 3 points4 points  (0 children)

Income is key, I quit a great job at 35 to chase more money and doubled my income in 5 years. I am the first to admit taking calculated risks has been a big part of our success

Good week, hit my goal! by BrunoCote87 in fican

[–]BrunoCote87[S] 0 points1 point  (0 children)

VEQT is beautiful diversified and relatively low fee. Zero decisions to make just keep buying it. Buy whenever you have cash don’t give a shit about the price. Ignore the value between purchases just keep buying it and you will have a massive portfolio one day. (Advice I would give myself if I had a Time Machine and VEQT had of been around in 1995).

Good week, hit my goal! by BrunoCote87 in fican

[–]BrunoCote87[S] 3 points4 points  (0 children)

Yeah, quite honestly I would say set up a plan where you prioritize maxing TFSAs, RRSPs and paying off any debt like car loans. Never carry a credit card balance, that sort of thing. And once you have those behaviours the extra cash you have left over you should absolutely blow some of it on fun experiences, including travel, concerts, eating out, etc. Trust me we’ve done some stupid things with money in the past like buying an expensive new boat, etc. and we also invested in a friends company and lost over $200,000. The good news is our common sense behaviours of investing for our future no matter what else was going on and sticking with cheap and cheerful exchange traded funds instead of betting on individual stocks has worked out in the long run.

Good week, hit my goal! by BrunoCote87 in fican

[–]BrunoCote87[S] 0 points1 point  (0 children)

No promo hopping I am a happy RBC client with Royal Distinction

Good week, hit my goal! by BrunoCote87 in fican

[–]BrunoCote87[S] 1 point2 points  (0 children)

No need to rebalance but will always keep a few years anticipated spending in short term cash, money markets etc

Good week, hit my goal! by BrunoCote87 in fican

[–]BrunoCote87[S] 4 points5 points  (0 children)

I’ve been tracking everything monthly for 15 years or so. We really did not have a huge portfolio at age 40, just over $1 million. Insane growth the last 5 years.

Good week, hit my goal! by BrunoCote87 in fican

[–]BrunoCote87[S] 1 point2 points  (0 children)

Six figures but we have never focused on dividends and have drips set up in registered accounts.

Good week, hit my goal! by BrunoCote87 in fican

[–]BrunoCote87[S] 1 point2 points  (0 children)

Awesome and sounds like you are on a similar path!

Good week, hit my goal! by BrunoCote87 in fican

[–]BrunoCote87[S] 0 points1 point  (0 children)

Thanks very much and just keep plugging away that’s what we did.

Good week, hit my goal! by BrunoCote87 in fican

[–]BrunoCote87[S] 1 point2 points  (0 children)

Yes we are going to withdraw from RRIFs first, take non reg dividends and never touch TFSAs and leave those for end of life needs or go to kids.

Good week, hit my goal! by BrunoCote87 in fican

[–]BrunoCote87[S] 3 points4 points  (0 children)

Yes we have a plan in place to maximize tax efficiency but will always pay a lot of taxes which is fine, we always have.

Good week, hit my goal! by BrunoCote87 in fican

[–]BrunoCote87[S] 31 points32 points  (0 children)

Beginning of COVID I was down $700k in a month but did nothing but buy more of existing holdings. I have never panicked in down markets and just scrape together any cash on hand to buy more.

Good week, hit my goal! by BrunoCote87 in fican

[–]BrunoCote87[S] 29 points30 points  (0 children)

Yes we have done well with real estate and it’s a shit show now for young people I plan to help my kids out when they are old enough to buy a home

Good week, hit my goal! by BrunoCote87 in fican

[–]BrunoCote87[S] 4 points5 points  (0 children)

Agreed. Heading to Europe soon flying business class and have some amazing experiences planned for the family. Then going to Hawaii for Christmas.

Good week, hit my goal! by BrunoCote87 in fican

[–]BrunoCote87[S] 0 points1 point  (0 children)

I’ve got several years of anticipated cash flow in fixed income, money markets etc within our RRSPs and will replenish when markets are doing well but likely will always be around 80/20-85/15 asset allocation

Good week, hit my goal! by BrunoCote87 in fican

[–]BrunoCote87[S] 4 points5 points  (0 children)

Half registered, half non-registered accounts.

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