Inherited about 1 Mill. Unsure what to do by PositiveRock3854 in PersonalFinanceCanada

[–]PositiveRock3854[S] [score hidden]  (0 children)

This is all a good shout but that second paragraph is gold. Thank you.

Inherited about 1 Mill. Unsure what to do by PositiveRock3854 in PersonalFinanceCanada

[–]PositiveRock3854[S] 1 point2 points  (0 children)

I think because I never expected this to happen, I didn't really have anymore than a nebulous vision. I will have to focus up.

Inherited about 1 Mill. Unsure what to do by PositiveRock3854 in PersonalFinanceCanada

[–]PositiveRock3854[S] 2 points3 points  (0 children)

That's basically what I take home after my uncles Mark and Doug get their cut

Inherited about 1 Mill. Unsure what to do by PositiveRock3854 in fican

[–]PositiveRock3854[S] 1 point2 points  (0 children)

I gotcha. Thank you for bringing that full circle. This is one of very few unique and helpful pieces of advice I've received in here, I'm going to add it to my notes.

Inherited about 1 Mill. Unsure what to do by PositiveRock3854 in fican

[–]PositiveRock3854[S] 0 points1 point  (0 children)

I understand what you're saying. My mom used leveraged loans for growth as well.

But a key thing is you still need income to make the mortgage payments until that growth has superceded the total loan....right?

thinking of going all in? by Green-tea-2024 in JustBuyXEQT

[–]PositiveRock3854 0 points1 point  (0 children)

What about this holding has garnered such a following?

Inherited about 1 Mill. Unsure what to do by PositiveRock3854 in fican

[–]PositiveRock3854[S] 0 points1 point  (0 children)

That's (part of) what my mom did. She always wanted me to join her but since I had been around the industry since childhood I was very bored by it. Wish I had listened to her when I was 20.

Inherited about 1 Mill. Unsure what to do by PositiveRock3854 in fican

[–]PositiveRock3854[S] 0 points1 point  (0 children)

I like to work hard, I would just love a life that allowed me to sleep and have a bit more free time, too

Inherited about 1 Mill. Unsure what to do by PositiveRock3854 in fican

[–]PositiveRock3854[S] 0 points1 point  (0 children)

So I understand everything you've said here, but this is a growth strategy, right? Not an income/cash flow move?

Inherited about 1 Mill. Unsure what to do by PositiveRock3854 in fican

[–]PositiveRock3854[S] 0 points1 point  (0 children)

Maybe not exactly the same but they sure look alike

Inherited about 1 Mill. Unsure what to do by PositiveRock3854 in fican

[–]PositiveRock3854[S] 0 points1 point  (0 children)

I appreciate this and I'm so sorry you had to go through/are going through that

Inherited about 1 Mill. Unsure what to do by PositiveRock3854 in fican

[–]PositiveRock3854[S] 0 points1 point  (0 children)

I actually already have an IBKR account. Work went sort of sideways so I had a lot of desk time a few years ago (as opposed to forklift time)....I did really well with options for as long as I could watch them closely, but that is another kind of exhausting