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In this video we'll cover how to purchase the stock exchange in your 30's & 40's in Canada. We'll cover the best method, stocks, and numerous other considerations that will help you succeed.
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thanks for the great video!! always love coming home after work and seeing a video drop from you guys!!! im 35 and just started investing 2 years ago. so this is straight up my alley.
great knowledge, thanks Brandon.
I am also 43, Just like joe. The struggle is real. Not as far along as I would like to be for retirement. Living the SINK life. Living in my moms basement(she is in a long term care home, so I live in the house mortgage free). I do have a 24 month Emergency fund.
Good job Brandon 🙂
Wow! You’re the man, Brandon. I really appreciate the video. I also appreciate the hair you put on the “Joe” emoji (I’ve been bald since age 25). Haha
Thanks again!
I really enjoy your video Brandon, you take the time to explain things in plain language and I really appreciate it. I’ve learned a lot from you and your dad on how to manage which investments to hold in TFSA vs RRSP. And I subscribe to the blue chip dividend stock model of investing that you are a fan of.
Being a late 30s investor, with a good stable career and income. One of my biggest things I like to do is PAY MYSELF first. I dont strictly budget as you suggest, but I have a way of limiting how much “extra money” I have available. I know my big expenses are “$xxx.xx” bi-weekly and are tied to my pay periods. I also have regular TFSA and RRSP contributions setup on my pay day so that the money is never available for me to really spend. What’s left over is my “fun money”, what I use to go out for dinner, buy my electronics, go on vacation and manage household expenses from. It’s generally about the same amount each period and you get a feeling of what you can afford after you’ve restricted your cashflow by paying yourself first. If there is extra money left over in a pay period then I put it into my rainy day fund, which sometimes gets used for a vacation or a renovation or a lump sum to my investing accounts.
At least this is my approach to long term saving / managing my income and expenses. Pay myself first, ensure my major expenses are covered and just manage the overflow.
The ways I pay myself first are:
Regular pre-authorized contributions to my TFSA and RRSP. – this incrementally builds my retirement savings and investments allowing me the freedom to add to my holdings every few months.
Increased mortgage payment beyond my initial payment. – this reduces my interest paid over the life of the mortgage and significantly impacts the length of the mortgage.
Thanks for all your hard work.
Hey Brandon, thanks for the video! Can you please teach me how to calculate the following? I have $700k saved and I spend $40k/year. I have the money returning 3% interest. How long will that money last? My calculation is telling me approx 35 years… does that sound right? Thanks!
Leggo Brandon! My man pulling through once again
Thank you for another informative video once again! And yes, I watched and listened from the beginning to the end.
Hey Brandon do you still like CDR’s ?
ugh i’m middle age?? well, at least this info sounds like it’ll set me up:)
If you’re young. Invest in growth stocks and bluechip companies. If you plan to retire in 15-20 years, buy monthly income stocks and israel bonds
Thanks Brandon and investing in our 60s especially important since most of us will live into our
90’s
If you’re living in your parents basement in your 30s or 40s you should be pretty well financially set… one would hope 🫣. Maximize that tfsa every year and buy a handful of companies you have conviction in for the long term. After that put as much away as you can in your rrsp with your company match program and have that invested in etfs. I believe that is a very strong strategy to build for a prosperous and perhaps early retirement.
Pro tip: set a deep depth of field (ie, high f stop number) to help prevent the lack of focus 😉
Hi Brandon what would you recommend as your top 3 CDR’s to buy over buying the actual stock ?
Making money is an action. Keeping money is behavior. Growing money is knowledge.
Great video Brandon. Please have Marc do a series for 50/60 yrs old. Thx 🙏👍
Thanks for the video! I wish I started much earlier. Looking forward to a video 50-60 yrs and maybe not being where you hope to be so still looking for income investing. Also recommendation for seniors who have set saving 80-90’s and looking for maximum withdraw based on the amounts the have.