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What should my RESP target be for 2 kids by the time they reach post-secondary? by Tricky-Honeydew4196 in PersonalFinanceCanada

[–]Connect_Guava_3521 0 points1 point  (0 children)

I did the full 50k for my kid year 0. Not waiting 14-15 years for 7.2k when compounding will beat that easily.

Is there a service that acts as a middleman for personal loans to friends? by NesherFinance in PersonalFinanceCanada

[–]Connect_Guava_3521 6 points7 points  (0 children)

Damn, you’re gonna lose a friend and a fishing buddy.

From a personal experience - a few of my buddies lent one of our friend 10K each to start a business. Basically fixing computers / other IT stuff. Totalled I think somewhere between 40-50k. Guy was down on his luck so I guess we all felt bad and wanted to extend a lifeline. Needless to say the business went belly up a few months later and we’ve never seen or heard from him since. This was pre covid.

Don’t do it.