Diamond Hands: Saving, Investing, Financial Independence

Thank you Norbert.

Join me on March 30th with "Episode 13: 5 Figure Hell".

Peace!

Helpful Links:

https://www.moneysense.ca/magazine-archive/norberts-gambit-a-better-way-to-buy-u-s-dollars/ (Norbert's Gambit)

Many thanks to the following:

https://www.youtube.com/watch?v=1LOUtALSDqw (Moon Theme - DuckTales- L'Orchestre de Jeux Vidéo)

All about 529 Plans: Prepaid College and Education Savings Plans.

Join me on March 23rd with "Episode 12: Norbert's Gambit".

Peace!

Helpful Links:

https://www.sec.gov/reportspubs/investor-publications/investorpubsintro529htm.html (SEC 529 Plan info)

https://www.morningstar.com/articles/814612/for-most-college-savers-prepaid-529-plans-dont-make-the-grade (Illinois Prepaid College Fund)

Many thanks to the following:

https://www.youtube.com/watch?v=1LOUtALSDqw (Moon Theme - DuckTales- L'Orchestre de Jeux Vidéo)

EPISODE 10! I'm finally out of single digit hell!

This episode might look like financial advice, but I assure you it is not. It's simply a summary of this highly informative reddit post: https://www.reddit.com/r/PersonalFinanceCanada/wiki/money-steps (Money Steps) by https://www.reddit.com/user/Xeon06/ (u/Xeon06)

There is also this awesome https://i.imgur.com/zlGnuDO.png (flowchart )created by https://www.reddit.com/user/atlasvoid/ (u/atlasvoid)

The Seven StepsStep 0: Budget, reduce expensesStep 1: Emergency fundStep 2: Employer matched retirement fundsStep 3: Pay down high-interest debtStep 4: Save for required large purchase or personal investmentStep 5: Save for retirementStep 6: Pay down low-interest debtStep 7: Save for other goalsContact me at [email protected] with any questions, suggestions, or other fun chit-chat.

Join me on March 16th with "Episode 11: Investing for your Child's Education".

Peace!

Many thanks to the following:

https://www.youtube.com/watch?v=1LOUtALSDqw (Moon Theme - DuckTales- L'Orchestre de Jeux Vidéo)

Lol, last time I wrote "Stocks go up" in the show notes the market tanked the week after.. Maybe this will give us a green week..

STOCKS GO DOWN

Join me on March 9nd with "Episode 10: Seven Steps to Financial Success".

Peace!

Many thanks to the following:

https://www.youtube.com/watch?v=1LOUtALSDqw (Moon Theme - DuckTales- L'Orchestre de Jeux Vidéo)

You can contact me at [email protected].

What happens when trillions of dollars are suddenly introduced into the economy? Stocks go up.

Join me on March 2nd with "Episode 9: Goldie's Positions".

Peace!

Relevant Links:

https://twitter.com/michaeljburry/status/1363226460979228673 (Michael Burry's Tweet)

https://www.investopedia.com/terms/q/quantitative-easing.asp (Quantitative Easing)

https://www.investopedia.com/terms/m/monetarypolicy.asp (Monetary Policy)

Fiat

https://en.wikipedia.org/wiki/Hyperinflation_in_Zimbabwe (Zimbabwe Hyperinflation)

https://www.ft.com/content/478fe908-5168-11ea-8841-482eed0038b1 (Negative Interest Rates in Sweden)

Many thanks to the following:

https://www.youtube.com/watch?v=1LOUtALSDqw (Moon Theme - DuckTales- L'Orchestre de Jeux Vidéo)

You can contact me at [email protected].

"I don't like Timing the Market. It's coarse and rough and irritating and it gets everywhere. Not like Dollar Cost Averaging. There everything is soft and smooth."

- Anakin Skywalker, but if he was a CFA

Join me on Feb 23th with "Episode 8: Money Printer Goes BRRRRR".

Peace!

Relevant Links:

https://investor.vanguard.com/investing/online-trading/invest-lump-sum (How to Invest a Lump-Sum of Money)

https://dqydj.com/sp-500-periodic-reinvestment-calculator-dividends/ (Periodic SandP500 Reinvestment Calculator)

https://www.youtube.com/watch?v=GwYwJ8CcQH0 (Anakin Doesn't like Sand)

Many thanks to the following:

https://www.youtube.com/watch?v=1LOUtALSDqw (Moon Theme - DuckTales- L'Orchestre de Jeux Vidéo)

You can contact me at [email protected].

As Yin is to Yang, FOMO is to Diamond Hands.

Join me on Feb 16th with "Episode 7: Timing the Market".

Peace!

Relevant Links:

https://www.thebalance.com/why-average-investors-earn-below-average-market-returns-2388519 (Average Retail Investor Returns)

https://awealthofcommonsense.com/2020/08/my-strategy-for-dealing-with-fomo/ (Actual Advice for Dealing with FOMO)

https://thetagang.com/ (THETAGANG)

https://rss.com/podcasts/thetagang/ (THETAGANG Podcast) (Joonie inspired me to start this podcast. Check his show out, I look up to him a lot.)

Many thanks to the following:

https://www.youtube.com/watch?v=1LOUtALSDqw (Moon Theme - DuckTales- L'Orchestre de Jeux Vidéo)

You can contact me at [email protected].

POWER TO THE PLAYERS...

Consider using your RRSP to buy a house. Contribute 35k, withdraw it using the First Time Homebuyers plan, and then lump your tax refund in with it to get an extra juicy down payment. More details at minute 9:45.

See you next time on Feb 9nd with "Episode 6: FOMO".

Peace!

Relevant Links:

https://www.td.com/ca/en/personal-banking/products/saving-investing/registered-plans/rsp/rrsp-withdrawal-rules/#:~:text=When%20can%20I%20withdraw%20from,income%20when%20filing%20your%20taxes. (RRSP Withdrawal Rules)

https://www.moneysense.ca/save/tax-brackets-canada-provinces-2020/ (Canadian Tax Brackets)

https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/rrsps-related-plans/what-home-buyers-plan/participate-home-buyers-plan.html (First Time Home Buyer's Incentive)

Many thanks to the following:

https://www.youtube.com/watch?v=1LOUtALSDqw (Moon Theme - DuckTales- L'Orchestre de Jeux Vidéo)

You can contact me at [email protected]

"In this world nothing can be said to be certain, except death and taxes."

- Benjamin Franklin

This episode provides a broad overview of how the tiered income tax system works, avoiding capital gains taxes through selective selling, and whether a big tax return is even a good thing.

See you next time on Feb 2nd with "Episode 5: TFSA vs RRSP".

Peace!

Relevant Links:

https://www.investopedia.com/terms/t/taxshelter.asp#:~:text=A%20tax%20shelter%20is%20a%20place%20to%20legally%20store%20assets,future%20tax%20liabilities%20are%20minimized.andtext=Qualified%20retirement%20accounts%2C%20certain%20insurance,examples%20of%20potential%20tax%20shelters. (Tax Sheltered Investing)

https://www.moneysense.ca/save/tax-brackets-canada-provinces-2020/ (Canadian Tax Brackets)

https://finance.zacks.com/determine-shares-sell-fifo-lifo-9766.html (FIFO vs FILO)

Many thanks to the following:

https://www.youtube.com/watch?v=1LOUtALSDqw (Moon Theme - DuckTales- L'Orchestre de Jeux Vidéo)

You can contact me at [email protected]

This week we build off of last week by discussing why an investor might choose to buy Stocks or ETFs, as well what dividends are, and how prices are set.

We'll be back on Jan 26th with "Episode 4: Life and Taxes".

Peace!

Relevant Links:

DRIP Investing: https://www.canadianmoneysaver.ca/an-introduction

Many thanks to the following:

Moon Theme - DuckTales- L'Orchestre de Jeux Vidéo

A Fishful of Dollars - Futurama - Matt Groening, Comedy Central, Fox

You can contact me at [email protected]