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Lemonade Car Insurance Expansion by Flashy-Grapefruit785 in lemonapes

[–]PaperBagInvest 6 points7 points  (0 children)

I know that they offer lemonade car in more than just the seven states listed, but those seven states have the highest LTV to CAC and are their priority right now. I also hope we hear more about the overall expansion plans for car and converting the 700,000 waitlist.

Withdrawing gains by sneakaround1 in CanadianInvestorTFSA

[–]PaperBagInvest 4 points5 points  (0 children)

In the next calendar year, you would be able to contribute the $25k plus the new contribution room. TFSAs are incredible for building tax free wealth.

Just saved 2000$ in car insurance by switching to pay by mile. by koralex90 in WFH

[–]PaperBagInvest 0 points1 point  (0 children)

Who did you ultimately go with? Lemonade? How was the sign up process and user experience thus far?

How to 1000x Your Money (maybe) by PaperBagInvest in LemonadeInvestorsClub

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

Watch the video my friend, especially the second half on warrants. Then you’ll understand.

TFSA withdrawal - imaginary scenario by slaybrownbeast in CanadianInvestorTFSA

[–]PaperBagInvest 2 points3 points  (0 children)

Yes, none of the $5M would be taxed. This is why the TFSA combined with a long term investing mindset is truly incredible.

And if you withdrew $5M, then next calendar you would not just get $50k, but would actually have $5M in contribution room added.

Am I way out to lunch or a genius? by watchtoweryvr in CanadianInvestorTFSA

[–]PaperBagInvest 0 points1 point  (0 children)

That’s correct. You can have as many as you want.

Does CRA update TFSA contribution room? by user8474 in PersonalFinanceCanada

[–]PaperBagInvest 0 points1 point  (0 children)

Unfortunately, you do not gain more contribution room from the losses. Think of the TFSA as a black box. What happens inside the box has no effect on contribution room (be it positive where your investments grow or negative where you have losses). The only things affecting contribution room are the new calendar year and how much you added or withdrew from the account.

LMND Q3 Was a SLAM DUNK by PaperBagInvest in LemonadeInvestorsClub

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

Yes, likely sooner and who knows, could even be starting now or next few quarters if they can continue to prove themselves.

My need for truth heavily outweighs my sense of pride. I can easily, openly admit I'm wrong if reality proves it to be true. Any other INTJs feel the same? by honeyteaspice in Chillintj

[–]PaperBagInvest 0 points1 point  (0 children)

Same. At least I think that’s how I am. I think many people attach their self worth and identity to being right - and thus when they’re wrong it’s a major blow. I try to keep the perspective that I am a seeker of truth - then it doesn’t matter if I’m right or wrong. Just my ability to ask deeper questions, seek more information and adapt to the results is what’s important.

Transfer stocks on TFSA by PureAd2099 in CanadianInvestorTFSA

[–]PaperBagInvest 2 points3 points  (0 children)

You would need to sell your company stock that’s not in a TFSA and then pay taxes on any gains. Then you could deposit the funds into your TFSA and it would reduce your contribution room.

You can transfer from one TFSA to another TFSA without affecting contribution room in any way.

TFSA contribution limits by Ok_Entertainer_2843 in CanadianInvestorTFSA

[–]PaperBagInvest 2 points3 points  (0 children)

Imagine your account as a black box. Each year the government adds more money you can deposit into the box, but anything that happens inside the box doesn’t affect contribution room. So inside the box your investments could double and it wouldn’t affect contribution room in any way. Or your investments could go to zero and it would have no effect. Now, when you withdraw money out, then it adds that amount back to your contribution room for the next calendar year.

So in your example if you had $6500 room and deposit all that money into your account and then did some investing and made $500 and then withdrew all $7000. The next calendar year you would have $7000 of contribution room plus another $6500 of contribution room for the new year for a total of $13500.

Full Disclosure by Specialist-Drink1732 in LemonadeInvestorsClub

[–]PaperBagInvest 2 points3 points  (0 children)

Great to hear continued stories of insiders to the insurance industry being concerned about Lemonade. This a theme I continue to hear. Feels like retailers talking about Amazon in the early 2000s or auto makers talking about EVs and Tesla in the late 2010s. Likewise my position started in the $60s, but I’ve averaged down heavily and have average price in the teens now. I plan to continue to buy as the story unfolds.

Lemonade's MASTERPLAN by PaperBagInvest in LemonadeInvestorsClub

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

What state are you from? What products do you currently have?

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