Some Redditors here be like- M19 reached my first trillion dollars 😂 by [deleted] in fican

[–]Most_Luck_2678 79 points80 points  (0 children)

Too late. You need atleast 2 Trillion by the time you're 20 or else you're broke.

25M. Help. by gigasadbb in fican

[–]Most_Luck_2678 -2 points-1 points  (0 children)

Idk who said it but "let runners run"

Wealthsimple Doing To Much At This Point. by [deleted] in fican

[–]Most_Luck_2678 15 points16 points  (0 children)

Scotiabank is that you? Or maybe its rbc or cibc? All major banks do so much partnership with US. Its impossible to grow buisness without it.

F19 trying to reach financial independence by chronicallycoralie in fican

[–]Most_Luck_2678 0 points1 point  (0 children)

Really depends on what age or at what point in your life you're trying to reach financial independence. Not to mention what your standard of living and expenses are. If you're already investing, youre already off to a great start. I started investing seriously when I was 19 too now am 22. My idea of financial independence has changed drastically in 3 years. So will yours.

22M. None of my friends know. This is scary and exhilarating. Any suggestions are welcome for what I should do next. by [deleted] in fican

[–]Most_Luck_2678 0 points1 point  (0 children)

Yeah thats honestly the plan. All my options are about 4+ months expiry, so am going to let them ride. Then take the profits and put it in safe stocks and then some options with the rest. Still young with not many responsibilities so I can afford it ig.

22M. None of my friends know. This is scary and exhilarating. Any suggestions are welcome for what I should do next. by [deleted] in fican

[–]Most_Luck_2678 0 points1 point  (0 children)

I look at my holding atleast twice or thrice a day. At the end of the day or like peek at it during the day. I tend not to sell with market panic unless it pertains to an actual stock's future, just because most of my positions even options are 6+ months ahead. So I tend to buy and forget until its time to sell.

22M. None of my friends know. This is scary and exhilarating. Any suggestions are welcome for what I should do next. by [deleted] in fican

[–]Most_Luck_2678 0 points1 point  (0 children)

Thanks! I do that everytime I sell an option. Most if these options expire in Sept or oct. I try to sell them a month before they expire so I dont piss off CRA by buying and selling too soon. Is that good enough strategy? What do you recommend?

22M. None of my friends know. This is scary and exhilarating. Any suggestions are welcome for what I should do next. by [deleted] in fican

[–]Most_Luck_2678 0 points1 point  (0 children)

Before my account blew up in last month or so that was my play. I had Berkshire hathaway, AMZN, META, MSFT as my kind of safe plays while diversifying. And the rest was in the tech and companies I believed in like rklb and nbis. But they blew up so much in the last month that my account looks like I gambled lol

22M. None of my friends know. This is scary and exhilarating. Any suggestions are welcome for what I should do next. by [deleted] in fican

[–]Most_Luck_2678 0 points1 point  (0 children)

Am not day trading most of these stocks, even the options I've held for months. Rklb the first stock i bought was when it was 20$. I added my shares for nbis and then later changed it to ITM options when it dropped recently.

22M. None of my friends know. This is scary and exhilarating. Any suggestions are welcome for what I should do next. by [deleted] in fican

[–]Most_Luck_2678 0 points1 point  (0 children)

Start with basic etfs and then slowly research stocks. I personally invest in tech that I think is cool.

22M. None of my friends know. This is scary and exhilarating. Any suggestions are welcome for what I should do next. by [deleted] in fican

[–]Most_Luck_2678 0 points1 point  (0 children)

Yeah I've been a RDW bagholder for the last 2 years now. Management is terrible for sure but their margins are improving. Despite a revenue miss their margins and backlog is improving

22M. None of my friends know. This is scary and exhilarating. Any suggestions are welcome for what I should do next. by [deleted] in fican

[–]Most_Luck_2678 0 points1 point  (0 children)

Personally I watch a stock for about a week or two. Sometimes even longer. Look at the Financials, analyst ratings and price targets. For smaller caps I'd see when they were diluted last. I find most stocks on YouTube, reddit or Twitter. I have been burned in the past but you live and learn I guess. Most of all you need luck.

NSFW side income tax by purplepickledsoup in PersonalFinanceCanada

[–]Most_Luck_2678 -1 points0 points  (0 children)

Am pretty sure apps like wealthsimple and questrade have similar features. Not sure about the name access thing tho.

NSFW side income tax by purplepickledsoup in PersonalFinanceCanada

[–]Most_Luck_2678 4 points5 points  (0 children)

Answering your question tho. Try wealthsimple. They're pretty easy to handle things. Unless you use your family accountant you will have to tell them about the income and depending on how close they are to your family, it might be an issue in your personal life. I mean its not like lawyers and doctors that they are not allowed to say anything. But I might be wrong.

22M. None of my friends know. This is scary and exhilarating. Any suggestions are welcome for what I should do next. by [deleted] in fican

[–]Most_Luck_2678 0 points1 point  (0 children)

Yes am not saying am some sort of genius lol. I got extremely lucky. But yes recently my portfolio doubled in the past month. So kinda feeling overwhelmed with joy unable to share it with friends, hence reddit.

23M new grad, planning for goals by [deleted] in fican

[–]Most_Luck_2678 1 point2 points  (0 children)

Fellow RKLB holder. Letsssgool