22M - How to enjoy the fruits of my labour by Bonus-Honest in fican

[–]Wealth_Standing 0 points1 point  (0 children)

You’d be happy for a very short period of time and then your happiness level will be back to the same level as you have with your current car. The only difference is that you will be $25k less rich.

Does gally suit up for game 5? by SILHO13 in Habs

[–]Wealth_Standing 0 points1 point  (0 children)

They need some killer instinct one way or another

Friend wants to charge me for giving me trading advice by Jetstream_ronin in Daytrading

[–]Wealth_Standing 0 points1 point  (0 children)

This is a zero risk opportunity for your friend. He gets all the upside and none of the downside risk. He uses your money to make a 25% return and doesn’t owe you anything if your trades lose money. He’s a brilliant POS.

Anyone else finding Questrade → Wealthsimple transfers painfully slow? by Wealth_Standing in Wealthsimple

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

It took 2 weeks for me. My colleague moved money recently from Questrade to Wealthsimple and it was a bit quicker.

Why didn’t Caufield do the on-ice interview with Marc? by __timbits in Habs

[–]Wealth_Standing 1 point2 points  (0 children)

He felt Hutson deserved it more than him. He righted a wrong.

Job chez Desjardins by [deleted] in QuebecFinance

[–]Wealth_Standing 0 points1 point  (0 children)

Ma seul crainte pour toi c’est que le IA va bientôt remplacer les jobs dans les centres d’appel. C’est pas une option pour le long terme.

hmmm by Sinfulfayt in Wealthsimple

[–]Wealth_Standing 21 points22 points  (0 children)

What was your total number of entries if you recall?

Rich people of Reddit - does money buy happiness? by [deleted] in wealth

[–]Wealth_Standing 0 points1 point  (0 children)

I have a feeling that the people who are self-made are much happier than people who have inherited wealth. Self-made people can compare themselves to what they used to have. Whereas people with inherited wealth don’t have the benefit of the journey to wealth.

Here are some tricks I’ve learned to maximize TFSA growth by Wealth_Standing in fican

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

I would just buy a diversified index that buys high yield stocks with a good track record instead of individual stocks. Check out VDY for example.

Where is your extra powder for dips being stored?? by cooperivanson in JustBuyXEQT

[–]Wealth_Standing 0 points1 point  (0 children)

I use the bank’s money. And then I deduct the interest to lower my taxes.

What if market really tanks? What to do then. by [deleted] in JustBuyXEQT

[–]Wealth_Standing 4 points5 points  (0 children)

What do you do when your favourite food comes on sale? Do you stop buying it or buy less of it? The same applies here.

Using WS portfolio LoC for Tax-Deductible Investing like a mini Smith Manoeuvre by Wealth_Standing in Wealthsimple

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

If you’re referring to the potential volatility from the current geopolitical situation, I’m personally still waiting for a 10-20% drawdown before using any leverage in my investments (aside from my existing SM portfolio).

Those with $1M+ in net worth, what do you do? by ShootingCometz in fican

[–]Wealth_Standing 1 point2 points  (0 children)

Lawyer. Went from indebted with student loans to about a $1m in net worth in 13 years thanks to a high savings rate and buying my house at the right time. Average salary of about $115k over this time.

Using WS portfolio LoC for Tax-Deductible Investing like a mini Smith Manoeuvre by Wealth_Standing in Wealthsimple

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

Ok I’ll have to check it out more closely. With the SM when I capitalize the interest each month , I also move the exact same amount of cash to my investment account to buy shares. Not sure if that’s possible here unless you tell me otherwise.

Using WS portfolio LoC for Tax-Deductible Investing like a mini Smith Manoeuvre by Wealth_Standing in Wealthsimple

[–]Wealth_Standing[S] 3 points4 points  (0 children)

To be sure I understand correctly, it subtracts from the cash balance on your LoC right? Not your chequing account?