Does Investing in The Stock Market Scare You?

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Hello World,

This is actually a common thinking. I bet several of you reading right now don’t have a low cost brokerage where you actively invest in stocks. Mainly because,

  1. You don’t understand the stock market
  2. You think you will lose all of your money
  3. You would rather save all of your money because, you are just comfortable doing that
  4. You feel it’s too much effort to constantly monitor your money in the form of stock

Honestly, those were my same concerns. This way of thinking was partially my fault because, I had no guidance and chose not to research and seek out guidance. I was going off of peoples opinions and those who were also fearful of the stock market. I didn’t get a second opinion, because I thought I will lose a lot of money. My assumption was the best way to build wealth is just to save.

I would still say my assumption was not completely incorrect, best way to have more money is to save – I got this right! However, growth doesn’t come with just saving! Best way to build your wealth is to invest.

In the beginning of my 20’s, if I learned and invested aggressively, I would have been retiring with millions at 65. Okay scratch that thought because, what you should be doing in your 20’s is investing in yourself by exploring and gaining that skill set that will be your asset to bring in more income. However, what people fail to do is think about investment at all!

Today, 19 year olds are investing like no tomorrow. So I think, you should start now as well. At least for your retirment, you should be saving and investing. Investing does not have to be hard. Open a Questrade account and within that open a Retirement account. Put in money every month or a lump sum prior to your tax year and create a ETF portfolio.

You just have to buy ETF’s that track the S&P500 or Vanguard like QQQ or QQQJ or Vanguard. These are good ones, and I hold them. But you should also do your own research.

The real question you should ask me right now is why? Saving your income should be the same with less risk. The answer is, when you buy ETF’s every month, quarterly, or yearly, when ever you can, your money is growing in compound. If you leave your money just stagnant in your bank then it loses value due to inflation!

RRSP, TSFA, Mutual Funds, High Interest Savings – What is Your Investment Strategy?

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Hello World,

This is a exercise for all of you who is reading this blog! I hope you take away something from this.

Being pretty direct, but is your current investment strategy? Wait, hold on, why don’t you answers the following questions in your head for me.

What are your long term financial objectives? For example, are you looking to buy a house, starting a family, buying a car, investing in school or starting a business, etc.?

If you answered, yes you have financial objectives such as all of the above, then what is your timeline of achieving those goals? 1 year? 5 years? 10 years? etc.

How much money do you need to reach your financial objectives and are you on track? For example, what will be the cost of the house you wish to purchase and what is the payment structure and what will your mortgage be? If this is not your financial goal, then do you know exactly how much it will cost to reach your financial goals?

What are you doing to stay on track of reaching your financial goals? What are the obstacles? For example, do you have an investment strategy or savings plan? Are you living pay cheque to pay cheque and having trouble saving? Is your income stagnent and you are not earning more?

What can you do to reach your financial objectives faster? Do you need to increse your salary? Do you need to upgrade your skills to start a side hustle? Are you going to invest in stocks and ETF’s to create a dividend strategy?

If you answered, no to having financial objectives and you just don’t have a financial strategy. You are just living pay cheque to pay cheque and enjoying each day as it comes then I just want you to think of one thing. Do you think you will have enough money to cover your expenses and health care cost after the age of 65 when you retire?

If the answer is no, then you need a good investment and retirement strategy.

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TD1 Tax Forms for Canadians

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Hello World,

Did you know you can get your tax adjusted if you have a second source of income? If you have two source of income then your income bucket is high and you essentially paying tax paying tax on both of your incomes. No! Stop! change that!

The things that we are afraid to do most is research. That’s why we reach out to our tax professionals (which isn’t bad) or we don’t do anything. The point I am making is, we don’t research.

All you need to do is fill out a TD1 form both Federal and Provincial and send it to your payroll team. They will help you adjust your taxes so you are not taxed doubled.

Here is your step by step guide to how to fill out the form:

I learn something new every day and I hope you do with me!

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Rejection – Make it a Habit

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Hello World,

Did you read my title? Yes, make rejection your habit. I know some of you are thinking, what in the world? However, it’s true. There is no life without conflict, pain or rejection.

I made a lot of mistakes in life. A lot of financial and time loses. I have been rejected multiple times from many opportunities. However, I didn’t stop trying. I don’t know how many job interviews and rejection I have faced. So many that it doesn’t even bother me anymore. But when you keep trying and trying, there is always light at the end of the tunnel.

Even when you are facing rejection after rejection, think of it like a blessing! Yes, you are learning, you are getting practice and you are also building resiliancy. The best part is, you are getting better by learning and going through each scenario.

I was told by someone once that I would never make it. I cried, I mean alot! But, I worked on my skills. I worked on my coding skills, I worked on my business skills, and I worked on my management skills. All of which led me to a better position from all the ones I have been rejected from.

So trust me! You never know what life has planned for you. Just do your research and go for it. Shoot your shots! Keep trying and keep learning!

Love always,

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Build Resilience

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Hello World,

I am late again, but I am here! Recenlty, one of my family members have passed away. That is two this year. As everyone who has been following me for some time may know that in January I lost my father. It was the hardest thing ever. Now we are nearing the end of the year and I have lost another family member.

It is not easy. I usually head straight to work and try to cope by keeping myself busy. It works for me. However, this time around all the memories of my fathers loss had come back and I had a terrible day at work on Friday. I tried to step in to work too quick and then one of my meetings went wrong and then later on all of my meetings started going side ways. Soon that day my imposter syndrome took over and I started questioning, if I am even worth it.

After a quick chat with couple of my friends, I soon realized that I was being too hard on myself. What I have done, or the little mess that I had work was going to go unnoticed as I noticed it more than other people. Others will go on with their days as they have their own goals and lifes to worry about. What I needed to do is just step away and divert my mind and just relax. Then come back and work on my craft so I can keep going.

There is an amazing article by Harvard Business Review about two people who were fired due to economy. One updated his resume and changed his mindset by saying, it’s not his fault, it’s the economies fault. The other drove himself to homelessness as he couldn’t bare the failure. https://hbr.org/2011/04/building-resilience

Yes, build resilience! I found the best way to build resilience is through support. Talking about my issue, validating my feelings with someone else who has been through something similar. This helps me keeping going, keep pushing through. It brings me back to my objective. My objective as everyone knows is sustainability. I want to be sustainable in all aspects of my life at all times and all economic conditions.

Another method that is very successful for me is mindful writing. Yes, write all of it down. You just need to express your feelings. You will feel a bit lighter. Start journaling!

If you ever feel down, don’t keep it in. Everyone goes through their own set up traumas. You are not alone. If you ever need to talk, just shoot me a message and we can work this through. Don’t give up!

Thanks for staying with me for such a long time and showing me support!

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Financial Independence in 3 Easy Steps:

  1. Figure out how much money you are taking home and subtract the amount you are spending.
  2. Be sure to keep all that surplus money at work, by paying down high interest debt first and then investing the rest.
  3. Once the total value of all your investments reaches 25-30 times your annual spending, paid work is now entirely at your discretion. For life.”

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Did You Know 10,500~ Farmers Commit Suicide Yearly

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Hello World,

I don’t often speak about politics but, I hope you all read world news and are aware of what is happening around the world other than the pandamic.

Farmers are the heart of India and a new bill is being passed to privatize farming. This will mean in the name of free market, farmers will lose their land and corporations will steal the crops. The farmers die every day due to how poorly they are treated, and poor harvesting every single year. They don’t have any other means of income. They don’t know how to do anything else, other than farming.

Imagine telling a 70 year old farmer that their land will be taken away. They don’t have old homes benefit as North Americans. They don’t have any benefits. They will all die due to this new law. All farmers have gathered and are now at Delhi protesting for this bill to be revoked. In return, these old farmers are being tear gassed, water gunned, and brutally attacked by the Indian cops.

I write about money and financial freedom all the time, but what if you had only one skill and you are way past your age of learning and adopting a new skill to survive. Forget that, what if you didn’t have a computer or internet and lived somewhere remote. On top of that, there was a law passed to basically kill you?! This is exactly what is happening.

Politics is dirty! But sometimes we need to be mindful and see what is right from wrong and protest for the RIGHT!

I hope you read into it a bit more and just spread awareness.

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