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Old 02-16-2021, 11:54 AM   #51
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I still wanna know which condo did you buy in Vancouver 2019 to 2021 that has 13 - 19% ROI lol.
He edited his response. He originally posted his calculation. See my comment above.
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Old 02-16-2021, 11:29 PM   #52
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Build the TFSA up to 200k+
I love this advice... just triple your TFSA and then everything will be fine!

No problem!
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Old 02-17-2021, 05:56 AM   #53
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i dont think at current prices you can make fuck all on an investment condo. after strata and prop tax you would have negative cashflow
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Old 02-17-2021, 08:45 AM   #54
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I love this advice... just triple your TFSA and then everything will be fine!

No problem!
Just don't be poor!
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Old 02-17-2021, 08:46 AM   #55
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He edited his response. He originally posted his calculation. See my comment above.
Ahh, mans wasn't serious haha. Thought he was out of the loop.
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Old 02-17-2021, 09:07 AM   #56
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i dont think at current prices you can make fuck all on an investment condo. after strata and prop tax you would have negative cashflow
Might that still be worth it in the long run though, if you just think of it like any other investment? Say you get a 500k condo with 100k down and it costs you 100/mo over what it's making, after 25 years it's paid off so you can sell it for 500k. Safely investing 100k @ 5% and adding 100/mo lands you at ~400k after the same time.

That's ignoring any equity increase too. It's a gamble but it seems like the lower mainland and the Okanagan are unlikely to stop going up. I'd love to see evidence to the contrary to quell my FOMO though lol.
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Old 06-01-2021, 01:11 AM   #57
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I love this advice... just triple your TFSA and then everything will be fine!

No problem!
well you could hit something lucky, or just be skilled and trade it up over time.

lol it could take u 10-20 years to triple it...

things triple all the time, you just gotta do your homework, have some conviction, have some luck, and take a lot of risk

You can buy calls and puts on your TFSA. you just have to be willing to lose it all haha...

but tbh the safest thing would be to cost average in the SP500, and collect dividends, and diversify by cost average in gold as well.

they're both always higher 20 years later.
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Old 06-26-2021, 10:32 PM   #58
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Calls and puts. Puts and calls.

There is a quote “The best investment anyone can make is on themselves.”


It’s a great quote and it’s a good thing to do unless a person doesn’t have a clue what they’re doing. Then the best thing is to invest in someone else at that point.

Remember, becoming wealthy doesn’t have much to do with being highly intelligent or even all that sophisticated. It can happen by being boring, slow and steady, or by taking big risks, or even by being at the right place at the right time.

I like calls and puts though. Investing in the market over time will always win because of the growth of the world in general. Investing in land or income producing businesses directly are also good choices for the long run. The advantage of this is that a person is able to get financing for these purchases which means the leverage of the loans will accelerate your outcome (this is both good and bad depending on how things go).

The best advice I ever had about investments was “do it yesterday!” I have to say that advice has always served me extremely well.
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Old 06-27-2021, 09:01 AM   #59
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I agree emphatically - you cannot overstate how important time in market is. We only work with high and ultra high net worth clients and given the $ amounts we are typically working with, TFSAs etc are often looked over as "not worth the effort".

However, if your TFSA was at $60k today and you put $6k per year in for 30 years, you'd have over $1,000,000 at retirement if you could do 7%/year for that time. An insignificant amount of today can become a very significant amount of money over time.

If you waited 5 years to start your TFSA and then started with $90k and added $6k/year for 25 years (aka the exact same amount total cash in), you'd have over $200k less.

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