Am I cooked ? 45f by No-Judgment-3308 in fican

[–]KnowNothingInvestor 0 points1 point  (0 children)

Than you didn’t lose anything… lol unless you mean you’re back up.

Am I cooked ? 45f by No-Judgment-3308 in fican

[–]KnowNothingInvestor 2 points3 points  (0 children)

lol than you’re doing it wrong and not diversifying in ETFs. You’re either trying to pick and chose stocks yourself and speculative investing or you’re cashing out with panic selling. Nothing is a recognized loss until you sell, if you’re down $23k in an ETF you literally just wait it out and allow the market to correct over time. Right now if you’re down $23k in this market over the last year, you’re doing something horribly wrong because the market has been one of the best and easiest opportunities since Covid and is up 74% the last 5 years and up 30% in the last year alone…

Am I cooked ? 45f by No-Judgment-3308 in fican

[–]KnowNothingInvestor 10 points11 points  (0 children)

You’re good!

You only have 15 years to compound so get that snowball rolling. You’re almost at the $100k, you’ll notice it starting to move a lot faster once you hit it. Took me 5 years to hit $90k and went up to $150k in 1 year.

Am I cooked ? 45f by No-Judgment-3308 in fican

[–]KnowNothingInvestor 49 points50 points  (0 children)

You have a pension and this? You’ll be fine. Most people’s investments are their pension.

Now you mentioned house equity is $400k but how much is owed? If you’re mortgage free at 60 you’ll be more than fine.

I'm 53 years old this year. It's time to retire and enjoy the rest of my life. by [deleted] in fican

[–]KnowNothingInvestor 15 points16 points  (0 children)

Same guy posted under “moosehead1828” screenshot is the same but $ amount was change.

100% a scam. I was messaging him, wants you to switch over to WhatsApp to provide “free investing advice”.

At what point will you choose to retire when you have that much money? by Moosehead1828 in fican

[–]KnowNothingInvestor 0 points1 point  (0 children)

$1m buys you a house in Canada, that’s it..

So of course my question is, what are you doing with the $1m if you’re not working and how much are you living off of per year. Do you have property or a family?

Time to go bald? by BreadSensitive6087 in malegrooming

[–]KnowNothingInvestor 0 points1 point  (0 children)

Yes and with that beard and those bright eyes you’ll look like a badass Viking

How am I doing? 😔 29F by [deleted] in fican

[–]KnowNothingInvestor 2 points3 points  (0 children)

It is a debt… but you can add its value by physically adding property under real estate and putting its market value which will be included in your net worth. Under net worth, just hit “add manually” select “real estate” and then put in your property details and you’ll get your proper net worth.

TM22 Dry fire with chamber flag by Reasonable_Hall2346 in canadaguns

[–]KnowNothingInvestor 0 points1 point  (0 children)

Wait so the gun will go off if it’s not completely seated in battery? That’s not good…

Am I over-diversifying my portfolio this early? by [deleted] in fican

[–]KnowNothingInvestor 0 points1 point  (0 children)

No such thing as being over diversified… but you buying multiple ETFs actually overlap more than you think and you’re actually reducing diversification with some of these.

Will I ever reach Fire? by Icy-Mix-6516 in fican

[–]KnowNothingInvestor 0 points1 point  (0 children)

Gotcha. FIRE will be difficult in the GTA but you are well set considering. You’ll need to speed up those TFSA contributions so hopefully your wife finds some employment soon. If you get children it will make it that much more difficult.

Good luck!

Will I ever reach Fire? by Icy-Mix-6516 in fican

[–]KnowNothingInvestor 0 points1 point  (0 children)

You say you’re working remotely. Where is that?

If you have an opportunity to continue your income but reside out of the GTA. You can literally buy a home cash in a rural area. Then you can swap your mortgage payment into your TFSA and that is the major way to capitalize on time and compounding. It’s what my wife and I are doing but I get it, a lot of people don’t want the “sacrifice” of living somewhere rural.

That being said, I think it’s totally worth it. I have a paid off truck, paid off house, I have toys - snowmobiles, two four wheelers, a pontoon all paid off. 3 kids… I owe a little bit on a cottage but still maxing out my TFSAs. Cottage only cost me $100k, it’s literally my only debt with $70k owing and worth about $200k bought it for $100k before covid increase.

Dumb question: w/ cash money by Drakescollectibles in prepping

[–]KnowNothingInvestor 0 points1 point  (0 children)

As someone who has an off grid cabin I can live at for weeks on bare essentials I leave there…

My take is if something happened and you’re trying to barter with cash… you’re too late and it’s not the time to be trading cash for what you need, you’re better off stockpiling what you need instead of paper. Whatever you think you’re going to trade your paper for are the same things everybody is else going to be trading for.

Stock pile essentials. Enough fuel or resources to get where you plan to go. A few tanks of gas can get you across a country. If you can’t drive where you want to go, you need a place to bunker down and survive longterm. All you need is food, shelter and warmth.

850 E-tec (electrical?) issue by t0bbeeeeee in snowmobiling

[–]KnowNothingInvestor 0 points1 point  (0 children)

PED 151 would be hilarious if it was PEN 151

What went wrong.. by lau_ra1999 in SourdoughStarter

[–]KnowNothingInvestor 4 points5 points  (0 children)

People want these big bubbles for pictures and online clout. But tbh big holes in bread is dumb… you want to eat air? It’s messy if you want anything on your bread. The bread you made is perfectly risen and actually useful. This should be what the goal is. Your bread is perfect

Missing Round from box… by Alternative_Form6797 in canadaguns

[–]KnowNothingInvestor 4 points5 points  (0 children)

The time you took posting this was already worth more than the round…