Financial advisors from banks don’t have money nor experience to provide sound advice. I follow a mantra from a person that has waaaaay more money than I do …. “ never invest your money with someone that has less money than you do” (hence I follow the big wigs because if works for them, it will work for me)
Yes, stock market investments...the long haul !!! The returns over time, have been very sweet. The only asset I left untouched in Canada when I left 23 years ago was my RRSP, and you are right about the 25% tax rate if I decide to pull out the funds, or if I take irregular or varying occasional distributions. There is another option for me, if I convert it to a fixed monthly annuity, the tax rate will only be 15%. Due to a treaty between Canada & the US, I haven't had to deal with any taxation on my Cdn RRSP yet, because I haven't touched it since I left. I have yet to decide to pay the 25% and take all the funds out, or convert it to a fixed monthly annuity... but to be honest, it's a low priority for now. I'll eventually decide what I'll do with it. Very nice video, and smart planning on your part 😁👍👍
Just found your channel. You guys are great. I just retired 2 months ago from a very high stress job (accountant). Really enjoyed listening to what worked for you guys.
Hey ! Thanks for watching… We are so glad that we made the change in lifestyle that got me out of the high stress world. I hope you have found a great path forward, there are so many great things to discover in this world other than a daily grind. Our next adventure starts Jan. Time to discover something new again !!! Have a great week. Cheers
Hello to the smart one's 🤫Love your common cent's views and your talk .Sounds like you got a good price for the house .Good for you guy's ❤️🏆🤫p.s. I will rewatch a couple more times .Great open end video 💰💰💰👌
Good price for Alberta, here in BC on the west coast the $$ would by anything here. All good Just thought we would lay it out as we’ve had some people wonder how we do it. Hope it made sense, we weren’t comfortable with five actual hard dollar figures out to anyone. Thanks for the comment. Cheers !!
This answers a lot of questions I had about how you two got to this place. I appreciate that you are open to sharing your plan, very similar to mine. My retirement countdown clock is ticking down.
We are not use to sharing stuff like this but we had a lot of questions about this topic. Well enjoy the retirement when the time is right !!! Only you will know when that time is. Thanks for leaving the comment !!! Cheers
Great advice on patience and time in the market. Panic selling kills your portfolio. I keep at least 2 years expenses in liquid safe assets to buffer market down turns. You should also have flexibility in expenses to get through downturns. If you are too close to the edge a large unexpected expense can tank your plan as well.
Canada is a depressed economy, high taxation and inflation. A friend that once worked for Revenue Canada told me that they mine you as a resource. They go after the little guy because it’s easier 😮
Hey guys great topic. Craig you are like Lori bet you have an Excel spreadsheet planning out your investments and forecasting you savings. Congrats and here's to your future success.
Hahaha. You wouldn’t believe the size of that Excel spreadsheet !!! Also have one for the budget, another one for daily spend / forecasting and trending, and one for net worth tracking !!! LOL. My project management training and career can be a curse. Cheers Bud
Watch the TH-cam channel “Passive Income Investing “ Adrian does focus on both US and Canadian investing strategies for this type of Income. He has awesome educational videos
Of course. I was 53 where I left work to take care of some personal and health issues and it was 55 when we called it retirement. From 53-55 I spent a lot of time trying to learn investment strategies for retirement and I have been still refining and learning to this day. (59). Thanks for watching and thanks for asking your question !!!
Craig another great video, A few questions for both of you, My wife and I are wondering where are you guys staying when your not traveling? Are you renting an apartment in Alberta? Airbnb? Also can you recommend a place to stay as we are looking to go to Panama in Jan. 2025 and meet up with the master! Since we never been in Panama will 3 weeks be too much? Did Lucinda and yourself feel safe while in Costa Rica? My wife Cindy is telling me that we should stay away she's reading about kidnapping assaults (1st of heard of any of this, I thought it was a safe country to travel then again maybe not!). Also we want to do Machu Picchu Peru, how long do you recommend and approximately what will it cost us. We are the same budget travellers nothing fancy we just want to get out and travel while we still can. Let us know if your planning on coming by Toronto GTA we gotta meet up! Lots to talk about!! :)
Hello !!! Thanks for watching and the comments/ questions. We rent an apartment here on the west coast, south of Vancouver. The income from on Passive Investment strategy co Wes our complete cost of living. If we bought here, we would both still be working full time. We want to go back to Panama, if we rent long term we would like to go to Coronado Bay apartments, they have lots of owners rent out their place there. We toured it and loved it. If we go back to Panama City we would stay in the old town area. There are so many other places to go also. We spent a month there and wasn’t long enough. LOL We felt very safe in Costa Rica except for the Puerto Viejo area. Great during the day, changes at night. West coast was great but very expensive. East coast Limon to PV has issues.
Machu Picchu, we spent 4 nights and 3 days there and thought it was perfect. So much to see !!! I would hate to try and snare it in one day. We met others that only spent a day and they want to plan to go back. That’s expensive.
Oh for sure …. It’s not for everyone but it is an option for those who may need an option. Like we say- never jump uneducated with investments. Can get into trouble quickly.
Purchasing a stock may seem straightforward, but selecting the correct stock without a proven strategy can be exceedingly challenging. I've been working on expanding my $210K portfolio for a while, and my primary obstacle is the lack of clear entry and exit strategies. Any advice on this matter would be greatly appreciated.
The strategies are quite rigorous for the regular-Joe. As a matter of fact, they are mostly successfully carried out by pros who have had a great deal of skillset/knowledge to pull such trades off
Check out the TH-cam channel “Passive Income Investing “ Adrian has some great videos for education for this type of strategy and of buy and hold stocks. I have watched and learned from his videos for years … and still do.
One thing I have learned , take financial advice from people that do whatever strategy/ program that they use themselves. Don’t get advice from someone that are selling something. When they walk there talk, and show are open to show it, that speaks miles in my books.
@SHHHMotoTravels Fellow Canadian here (Victoria BC). My retirement plan will also involve living off dividend income (but I'm about 10 years from that goal). Your dividend income is impressive. I was thinking I'd only get about 5% or something. What kind of mix do you have? Banks? Natural resources? Also, mostly Canadian? Thanks so much for any tips!
Where do you live in canada after you sold your house? You keep saying you're home but you sold your house. Do you live in your kids basement for free?
Sorry we should have been clearer with that. We rent an apartment that we rent year round. It is south of Vancouver in the lower mainland. We call it our home because it is our home. We travel up to 6 months a year and stay in the apt whenever we are back in Canada. Hope that helps. Thanks for watching and asking the question Have a great week. Cheers
![[MV] A leap of faith...ความเชื่อใจครั้งสุดท้าย (From "Petrichor the series")](http://i.ytimg.com/vi/U1piZH2CNXA/mqdefault.jpg)
Financial advisors from banks don’t have money nor experience to provide sound advice. I follow a mantra from a person that has waaaaay more money than I do …. “ never invest your money with someone that has less money than you do” (hence I follow the big wigs because if works for them, it will work for me)
I agree with your comment here. Of course I learned from the school of hard knocks. LOL
Yes, stock market investments...the long haul !!! The returns over time, have been very sweet. The only asset I left untouched in Canada when I left 23 years ago was my RRSP, and you are right about the 25% tax rate if I decide to pull out the funds, or if I take irregular or varying occasional distributions. There is another option for me, if I convert it to a fixed monthly annuity, the tax rate will only be 15%. Due to a treaty between Canada & the US, I haven't had to deal with any taxation on my Cdn RRSP yet, because I haven't touched it since I left. I have yet to decide to pay the 25% and take all the funds out, or convert it to a fixed monthly annuity... but to be honest, it's a low priority for now. I'll eventually decide what I'll do with it. Very nice video, and smart planning on your part 😁👍👍
Thanks for the comment Wayne.
I haven’t had to look into that as we haven’t decided to go anywhere … yet.
But the annuity is a good option.
I think it's great that you did this yourselves. You made something happen to change your path to retirement and travel. Well done!
It gave me something to learn and it took quite a while to make sure …
Almost 2 years to build to confidence to go all in.
Been good for us
Just found your channel. You guys are great. I just retired 2 months ago from a very high stress job (accountant). Really enjoyed listening to what worked for you guys.
Hey ! Thanks for watching…
We are so glad that we made the change in lifestyle that got me out of the high stress world.
I hope you have found a great path forward, there are so many great things to discover in this world other than a daily grind.
Our next adventure starts Jan. Time to discover something new again !!!
Have a great week.
Cheers
14:33 I often say the grass is always greener on the other side because is on the top of the septic tank (meaning … full of shit)
Hahahaha. !! Love it !
Great insights… thanks for sharing! I can see myself potentially doing that. Not ready yet though 😅
Thanks.
Ya we had the same feeling at one point in our working days but that’s when we started planning.
Thanks for the comment !!
11:49 I love this quote Craig !
That was fantastic advice! Thanks for sharing!
Hello to the smart one's 🤫Love your common cent's views and your talk .Sounds like you got a good price for the house .Good for you guy's ❤️🏆🤫p.s. I will rewatch a couple more times .Great open end video 💰💰💰👌
Good price for Alberta, here in BC on the west coast the $$ would by anything here.
All good
Just thought we would lay it out as we’ve had some people wonder how we do it.
Hope it made sense, we weren’t comfortable with five actual hard dollar figures out to anyone.
Thanks for the comment.
Cheers !!
Good Tips Guys !Craig thanks for sharing this.
Thanks for tuning in Bud. !!!
Glad you did the homework and wise advice to take time...its a Marathon not a race! Thanks for sharing your story!!
Thanks for the feedback.
Hope all is well back in PA !!!
@@SHHHMotoTravels
This answers a lot of questions I had about how you two got to this place. I appreciate that you are open to sharing your plan, very similar to mine. My retirement countdown clock is ticking down.
We are not use to sharing stuff like this but we had a lot of questions about this topic.
Well enjoy the retirement when the time is right !!! Only you will know when that time is.
Thanks for leaving the comment !!!
Cheers
Great advice on patience and time in the market. Panic selling kills your portfolio. I keep at least 2 years expenses in liquid safe assets to buffer market down turns. You should also have flexibility in expenses to get through downturns. If you are too close to the edge a large unexpected expense can tank your plan as well.
Thanks for the comment !!
You are so right…. Plan for the unexpected
Sounds like a good plan 👍
Well so far so good !!
👌
Canada is a depressed economy, high taxation and inflation. A friend that once worked for Revenue Canada told me that they mine you as a resource. They go after the little guy because it’s easier 😮
Hey guys great topic. Craig you are like Lori bet you have an Excel spreadsheet planning out your investments and forecasting you savings. Congrats and here's to your future success.
Hahaha. You wouldn’t believe the size of that Excel spreadsheet !!! Also have one for the budget, another one for daily spend / forecasting and trending, and one for net worth tracking !!! LOL.
My project management training and career can be a curse.
Cheers Bud
@@SHHHMotoTravels LOL it would be fun to see the two of your comparing notes, stay safe and hope to see you soon. cheers
@@HarleysDinersRides - haha. Next time we meet !!! For sure
Love the quotes! And I'm taking notes! I may not be Canadian, but I bet a bunch of your tips help :D
Watch the TH-cam channel “Passive Income Investing “ Adrian does focus on both US and Canadian investing strategies for this type of Income.
He has awesome educational videos
@@SHHHMotoTravels Thanks! Checking out his channel now :D
@@RoadReality - @PassiveIncomeInvesting
@@SHHHMotoTravels Thanks! :D
@@RoadReality - Hey are you going to VAMM this year ?
Thanks for the update
Thanks for watching !!!
Have a great weekend. …!
Thank you for the great advice. May I ask what age you were when you retired ?
Of course. I was 53 where I left work to take care of some personal and health issues and it was 55 when we called it retirement.
From 53-55 I spent a lot of time trying to learn investment strategies for retirement and I have been still refining and learning to this day. (59).
Thanks for watching and thanks for asking your question !!!
Craig another great video,
A few questions for both of you,
My wife and I are wondering where are you guys staying when your not traveling?
Are you renting an apartment in Alberta? Airbnb?
Also can you recommend a place to stay as we are looking to go to Panama in Jan. 2025 and meet up with the master!
Since we never been in Panama will 3 weeks be too much?
Did Lucinda and yourself feel safe while in Costa Rica? My wife Cindy is telling me that we should stay away she's reading about kidnapping assaults (1st of heard of any of this, I thought it was a safe country to travel then again maybe not!).
Also we want to do Machu Picchu Peru, how long do you recommend and approximately what will it cost us.
We are the same budget travellers nothing fancy we just want to get out and travel while we still can.
Let us know if your planning on coming by Toronto GTA we gotta meet up! Lots to talk about!! :)
Hello !!!
Thanks for watching and the comments/ questions.
We rent an apartment here on the west coast, south of Vancouver. The income from on Passive Investment strategy co Wes our complete cost of living. If we bought here, we would both still be working full time.
We want to go back to Panama, if we rent long term we would like to go to Coronado Bay apartments, they have lots of owners rent out their place there. We toured it and loved it. If we go back to Panama City we would stay in the old town area. There are so many other places to go also. We spent a month there and wasn’t long enough. LOL
We felt very safe in Costa Rica except for the Puerto Viejo area. Great during the day, changes at night. West coast was great but very expensive. East coast Limon to PV has issues.
Machu Picchu, we spent 4 nights and 3 days there and thought it was perfect. So much to see !!! I would hate to try and snare it in one day.
We met others that only spent a day and they want to plan to go back. That’s expensive.
We will let you know if we get to the GTA area anytime soon
Cheers
First! 🙌
Cheers !
Good deal
Thanks for watching !!
This place looks familiar 😂 0:15
YES !! You got it
Very informative video thanks for sharing, but I do have also a problem with investing, just like Your wife...
Oh for sure …. It’s not for everyone but it is an option for those who may need an option.
Like we say- never jump uneducated with investments. Can get into trouble quickly.
Purchasing a stock may seem straightforward, but selecting the correct stock without a proven strategy can be exceedingly challenging. I've been working on expanding my $210K portfolio for a while, and my primary obstacle is the lack of clear entry and exit strategies. Any advice on this matter would be greatly appreciated.
The strategies are quite rigorous for the regular-Joe. As a matter of fact, they are mostly successfully carried out by pros who have had a great deal of skillset/knowledge to pull such trades off
Does anyone ever bite on these stupid spam bots?
Check out the TH-cam channel “Passive Income Investing “ Adrian has some great videos for education for this type of strategy and of buy and hold stocks.
I have watched and learned from his videos for years … and still do.
One thing I have learned , take financial advice from people that do whatever strategy/ program that they use themselves.
Don’t get advice from someone that are selling something.
When they walk there talk, and show are open to show it, that speaks miles in my books.
@SHHHMotoTravels Fellow Canadian here (Victoria BC). My retirement plan will also involve living off dividend income (but I'm about 10 years from that goal). Your dividend income is impressive. I was thinking I'd only get about 5% or something. What kind of mix do you have? Banks? Natural resources? Also, mostly Canadian? Thanks so much for any tips!
Where do you live in canada after you sold your house? You keep saying you're home but you sold your house. Do you live in your kids basement for free?
Sorry we should have been clearer with that. We rent an apartment that we rent year round. It is south of Vancouver in the lower mainland.
We call it our home because it is our home.
We travel up to 6 months a year and stay in the apt whenever we are back in Canada.
Hope that helps.
Thanks for watching and asking the question
Have a great week.
Cheers