Norbert’s Gambit – Tranding Strategy

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Hello World,

This is specifically for my Canadians! Have you ever heard of Norbert’s Gambit?

Then you are missing out! I am about to spill some tea on how to save money on foreign exchange fees legally. Norbert’s Gambit is used when you are trading and you want to buy a US stock but you have Canadian dollars. To avoid exchange fees of let’s say 20%, you can just pay $5 to $7 CAD.

Imange you have $10,000 CAD and you want to exchange it to USD, instead of paying a wapping $200 in exchange fees just apply Norbert’s Gambit and you will pay about $10 dollars. I do it all the time.

First, you will in need a brokerage, I would suggest Questrade. Then you would need an account your trading in RRSP or TSFA. I would say, go for your RRSP.

Here are your easy steps:

  1. Then you go to Trading and look up DLR.TO. This is a ETF that tracks CAD currency.
  2. You have to decide how much money you are trading. For example, $2,000 CAD.
  3. Then you have to look at how much DLR.TO is trading at. Currently it is trading at $12.89.
  4. Then you $2,000 divide $12.89 and get the number of share you can purchase. In this case it’s 155.
  5. Make the trade to Market and buy the 155 shares
  6. Call or simply open the chat and ask the representative to Journal your shares in DLR.U.TO
  7. DLR.U.TO is the same etf in USD
  8. After 5 days, you will be able to sell your USD DLR.U.TO and you will have US Dollars to buy your US stocks

YOU SAVED MONEY!

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HAPPY NEW YEAR!

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Hello World,

I just wanted to come on here and share a note about how supportive you all have been through out this entire year. Even when I take these long breaks, I see you all commenting and showing support and sharing my content.

This year was a handful. But, I let you guys know it all. You saw my flaws, my mistakes, my struggles, my failures, my emotional battles, and my struggle, my hustle, and my passion towards my work.

You read my post when my father passing away and showed tremondous support. You read on my battle with anxiety and shared your insights and helpful tips. You read my post on my grandfather passing away and showed love. You read my post on my journey towards YouTube and supported me by suscribing and offered tips to help improve. You read my post on consumer behavior, tech trends, business, motivation, and personal finance. I hope you learned and took away some of my knowledge from my journey.

I love this community that I have built and I would love for you to keep on going strong with me on to 2021! Let’s grow together and stay strong.

HAPPY NEW YEAR FRIENDS!

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Is WordPress The New Social Media?

Hello World,

I am super curious! What are you thoughts on WordPress introducing stories?

Pretty much all, starting from Twitter, SnapChat, Facebook, Instagram-all platforms have a the story feature now!

Even your instant messaging, Whatsapp has stories! How much stories can you share and in how many platforms. This is mostly because, people like sharing their daily lives. It almost becomes a dependencies, for example, people can’t live without sharing on Instagram.

So what do you think is the purpose of WordPress adding stories? Is it to quickly share your findings with your audience. Creates a better connection with your followers? Or just bandwagoning with all the other platforms. Maybe, creating a competitive edge to compete against Shopify?

What is your take on this?

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Stock Picks During The E-Commerce Uprise

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Hello World,

This is for my beginner traders who are a bit afraid of buying stocks, if you have money laying around then invest it! Yes, compound growth is important for your future savings. It protects you from inflation.

Currently there is news on the Government regulating Crypto currency. This has some pros. vs. cons. Simple pro, crypto will finally be regulated. Which means there may be a ETF coming! Con, you will be able to trade crypto limited on the various crypto currency platforms with the new regulations.

However, I believe most of my audiences are still very new to Crypto and Blockchain and therefore, they are not investing in that realm. I could be wrong, let me know if you own some coins?!

If you don’t, then you may have also heard the news of Megan Thee Stallion, the American rapper promoting Cash App and giving away free Bitcoins. Well do you know who owns Cash App? If you read finance news like I do and are on top of your trends then it’s Square Inc.

Invest in Square Inc. ticker symbol (SQ). Square has sky rocketed during the ecommerce uprise, plus they accept bitcoin. I believe Squre and PayPal has huge potential and it’s another way of investing in crypto without the hassle of downloading crypto platforms and getting a wallet for Crypto currencies.

Thanks for always staying with me to learn about investment and money!

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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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