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30-08-2017, 01:47 PM
RE: Debt Thread
Nice. I can look forward to hobby investing this autumn and go from there.
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30-08-2017, 01:48 PM
RE: Debt Thread
(30-08-2017 01:08 PM)LadyJane Wrote:  
(30-08-2017 12:59 PM)reeveseb Wrote:  My best advice for long term investing would be the Roth IRA. Since contributions have already been taxed, there are no tax penalties in the future. The interest in a Roth IRA grows tax free. There are annual funding limits, but for a started retirement fund, I'm not sure there is a much better option.


I'll have to look into that Smile

Don't bother, you're Canadian, it don't apply. As far as stocks, ETFs is the only way to go in my opinion unless you know what you're doing.

#sigh
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30-08-2017, 01:50 PM
RE: Debt Thread
(30-08-2017 01:48 PM)GirlyMan Wrote:  
(30-08-2017 01:08 PM)LadyJane Wrote:  I'll have to look into that Smile

Don't bother, you're Canadian, it don't apply.

That's what I had to look into. Haha.
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30-08-2017, 01:54 PM
RE: Debt Thread
Try living on under 15k a year.

I do.

Debt free since 2001.

Everything is paid for. No credit cards, no loans.

Pay cash.

Don't spent what you don't have.

.......................................

The difference between prayer and masturbation - is when a guy is through masturbating - he has something to show for his efforts.
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30-08-2017, 01:57 PM
RE: Debt Thread
(30-08-2017 01:47 PM)LadyJane Wrote:  Nice. I can look forward to hobby investing this autumn and go from there.

That's what I did. That story had a very nice ending. Smile

[Image: dobie.png]Science is the process we've designed to be responsible for generating our best guess as to what the fuck is going on. Girly Man
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31-08-2017, 01:57 AM
RE: Debt Thread
(30-08-2017 01:54 PM)onlinebiker Wrote:  Try living on under 15k a year.

I do.

Debt free since 2001.

Everything is paid for. No credit cards, no loans.

Pay cash.

Don't spent what you don't have.

I used to live on 12K a year (being the only income bringer at the time as well) and was 100% debt free. After working my way up to 21K a year I'm now piss poor and covered in debt haha.

Fingers crossed it'll be all gone in year and half, if my maths is correct. Just hoping to win the lottery before hand Laugh out load

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01-09-2017, 09:08 PM
RE: Debt Thread
I think the closest thing in Canada to a Roth IRA is a TFSA (tax-free saving account), but they don't pay particularly good interest. I do have a TFSA, though, because with auto-deposit every payday it's a reasonably painless way to save.

Investing? Too risky if you're looking for short-term wealth. An excellent idea if you're in it for the long haul. I have a self-directed trading account, where I buy stocks, bonds or ETFs online and just sit on them. Because I get dinged $9.95 for every trade I make, I only buy shares when my cash balance is over $500 (which takes a couple of months to accumulate in the account). Portfolio is a mixture of domestic and international funds, plus a few single-company stocks that represent things I actually use or own.

The ideal situation is to have passive income where you don't have to trade work hours for money (for example, stock dividends or interest income). Not quite there yet; I am earning dividends, but not enough to live on.

Check out the website Rockstar Finance -- It's essentially a daily digest with 3 or 4 feature articles from various finance bloggers. Almost always something good to read there.

I'm sorry, but your beliefs are much too silly to take seriously. Got anything else we can discuss?
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01-09-2017, 09:15 PM
RE: Debt Thread
(30-08-2017 08:50 AM)OakTree500 Wrote:  I didn't know where to put this, so here is where it is haha.

Just wondering, does anybody dabble in stocks/shares/bonds and the suchlike? How easy/difficult is it to "do" and potentially make money out of? One of the many avenues I'm looking at for the "clear my debts sooner" fund, so any input is more than welcome.

Edited to become: the debt thread! Are you in debt as well? How are you paying it off etc.

Yes

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02-09-2017, 12:36 AM
RE: Debt Thread
My goal is to die as deeply in debt as possible and it looks like it may be the only goal I ever actually attain.
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04-09-2017, 03:45 AM
RE: Debt Thread
(01-09-2017 09:08 PM)Astreja Wrote:  I think the closest thing in Canada to a Roth IRA is a TFSA (tax-free saving account), but they don't pay particularly good interest. I do have a TFSA, though, because with auto-deposit every payday it's a reasonably painless way to save.

Investing? Too risky if you're looking for short-term wealth. An excellent idea if you're in it for the long haul. I have a self-directed trading account, where I buy stocks, bonds or ETFs online and just sit on them. Because I get dinged $9.95 for every trade I make, I only buy shares when my cash balance is over $500 (which takes a couple of months to accumulate in the account). Portfolio is a mixture of domestic and international funds, plus a few single-company stocks that represent things I actually use or own.

The ideal situation is to have passive income where you don't have to trade work hours for money (for example, stock dividends or interest income). Not quite there yet; I am earning dividends, but not enough to live on.

Check out the website Rockstar Finance -- It's essentially a daily digest with 3 or 4 feature articles from various finance bloggers. Almost always something good to read there.
A friend of mine has just started blogging on the world of finance and stocks/bonds etc, which was partly the reason for starting this thread as I don't understand too much off it.

He dabbles with a thing that involves you buying a "unit" which is comprised of various government and trade stocks, which you sit on for about 10 years and then cash out, which I will get into I think once my debts are cleared up.

Speaking of debts: I've reorganized my finances a little bit, and I should be able to pay off the entire thing by this sort of time next year, which is better than the original time frame of 2+ years. It does mean I'll be very anti social for the next 6-12 months, but it also means when that's done I'll be 100% debt free by the time I'm 30, which is a plus.

Still planning on winning the lottery thought Laugh out load

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