He edited his response. He originally posted his calculation. See my comment above.

I love this advice... just triple your TFSA and then everything will be fine!

No problem!

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

Just don't be poor! :lawl:

Ahh, mans wasn't serious haha. Thought he was out of the loop.

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.

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 :p

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.

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.

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.

-Mark

Hey does anyone on here believe in investing in currency?

With the Euro and Yen both at all-time lows... seems like a safer bet than stock market or whatever to buy and hold and potentially take a 20-30% gain down the road??

I'm not talking about like $500 but even 5-6 figure moves.

I'm going to Europe and investing in bottles of wine and croissants baybeee!!

1EUR = 1USD :agree:

But in all seriousness, who bought USD when it was at par?

I was on the coo-coo real estate circle jerk, where everyone counts their returns on downpayment only, not mortgage amount

Then I was proven wrong :okay:

My boss does it all the time. We regularly purchase goods in Euro and Yen though. Even buying USD at 1.20 vs now 1.30, the 10% spread is a huge difference.

It's okay, we'll be punished 2 years from now as our equity goes negative and we lose our entire down payment. :fullofwin: