How did you get into investing?After finishing post secondary, I visited my local banker to get some investing advice and was pointed towards one of their mutual funds that was selected based on my risk tolerance at the time. I set up an automatic withdraw plan and watched as my net worth began to slowly grow in size. It was a good feeling!
After reading copious amounts of literature on the subject, I determined that building a sustainable and growing passive income stream from dividend stocks was the path I was going to take. It was also a rude awakening to find out that I was paying ridiculously high fees on the mutual funds I was invested in! Read More…
It goes without saying that you MUST start investing young and if you are in a descent income bracket start flooding your RRSP account to take advantage for tax purposes.
I started back when i was 21 and have never stopped investing in both accounts. I have made about 20% so far which is pretty good. It’s not what you can live on but its a good start especially considering i would have blown it all on parties and be broke right now.
Amazing how guilt of withdrawals kept it there for so long.
So when is a good time to start investing? Is there a time that it is too late? My spouse and I try to save but we find we end up dipping back into these savings to pay our new concerns. We have 2 children and another on the way and so its hard to save these days.
This article fails to point out other investment vehicles like the hot market of Real Estate in Vancouver or just plan index funds.
I am an old bugger and still dont do much investing. Just dont trust it. My fears of the 2008 crisis just solidified it. I am happy earning lower interest at my local bank. I am just not much of a risk taker.
I’d invest into dividend stocks but most are lousy right now in the Canadian market. And one cant do much in US equity since most of it is held in witholding taxes. Can’t win any way.
Unless you put your US holdings inside RRSPs.
I still can’t believe people buy into the gimmicks of mutual funds. High MER% and very little return. A study showed and proved that it was all random and these supposed fund managers were no more right than a monkey pounding on picks in the Wall Street Journal.
Most kids today aren’t really told how important it is to begin saving at an early age so its no surprise when they grow up they dont understand and feel it necessary to put much thought into what they invest to. They just do what the herd tells them. It’s a real shame too because most of the people i know are getting charged exhorbitant fees when they dont have to. But for them its what they think is acceptable to get a modest return. *sigh*