Rain City
Crew Member
Used to be for lol...Thats what casinos are for lol. I have heard...
Used to be for lol...Thats what casinos are for lol. I have heard...
Tangerine is offering 3% not sure if it's because I am already a client or if it's open to anyoneI friendly suggest that if you don't know much about stocks then you should be very wary about accepting and acting on advice from a buddy (as good as his intentions are).
Yes, stocks have taken a hammering and there would appear to be a lot of bargains out there but with the market going up and down on a daily basis we don't really know what's in store .
Even the so-called financial experts can't agree with each other where the market is going under the current situation.
So advice would be,hang back and try and get some professional advice before dipping your toes in the water.
As far as your money making zero in the bank.Ask yourself if you would be happier with zero interest on your savings or buying stocks only to see them crash in value because of the current volatility.
Once again ,hang back,let the dust settle and get advice or educate yourself on the stock market.
There are a lot of financial sites that give free information eg Morningstar, Seeking Alpha, Yahoo Finance, and your own bank will have an investing section.
Good luck!
Yes but if you look at returns from those stocks, most have lost value over the last several years, more than what you would get for the div payments. Altho now would be a decent time to buy them after the massive drop they've had.Why would you put your money in the bank in an account that will pay you 2 to 3% when you can buy the stock in that bank and earn anywheres from 5 - 7% yield on their dividend. Any of Canada’s major banks offer very decent dividend payments. Canadian chartered banks are as stable as it can get. If they go broke this country is in a whole lot of hurt and the only place there is to have money safer than them is maybe Gold.
Yes but if you look at returns from those stocks, most have lost value over the last several years, more than what you would get for the div payments. Altho now would be a decent time to buy them after the massive drop they've had.
Why would you put your money in the bank in an account that will pay you 2 to 3% when you can buy the stock in that bank and earn anywheres from 5 - 7% yield on their dividend. Any of Canada’s major banks offer very decent dividend payments. Canadian chartered banks are as stable as it can get. If they go broke this country is in a whole lot of hurt and the only place there is to have money safer than them is maybe Gold.
Putting money in the bank has no likely downside. The bank stocks still do.Why would you put your money in the bank in an account that will pay you 2 to 3% when you can buy the stock in that bank and earn anywheres from 5 - 7% yield on their dividend. ...
I pulled my money after the first drop and am waiting to buy back in. I know you cant time the market, but I dont think its done falling yet. I dont feel the need to pick the exact bottom, but at this point I think I am about a month away from re entery. Money might as well do something in the mean time.
Hope you realize at 1.6% interest you are still loosing money, your investment is decreasing annually. Buying power of a dollar decreases higher than 1.6%. With bank fees I would be willing to bet that even 4% you still loose.Smart move Fish Brain.
Because of my age and health issues I reviewed the market a couple of years back and concluded that with the Bull market we have been in for so long, even with the smaller corrections we had over the previous 20 years, that a major correction was coming and the eventual recovery could also possibly take years. Its one thing to be young and investing where you will make good return rates over the long term and will have the time to recover from smaller corrections and major events like this one. With that in mind I went 100% risk adverse over a period of 6 month and by a year and a half ago was completely out of the market. Put everything into max. safety, deposit insured terms and accounts. Spent the time searching for good deals and put a lot of money in opportunities like the the 33 month term at 4% per, that Coast Capital was offering when they were raising money and memberships to become the first Credit union to move from provincial to a federal charter/equivalent or what ever it was called .
The deposit insured E-banks also offer higher interest rates as they don't have the physical infrastructure costs and BMO has an investor savings account I like that gives you 1.6% as long as you auto transfer in $200. every month (forced savings). You are not locked in at all with that savings account and it is a safe place to hold your free emergency money if you are not into E-banks. Took max. advantage of TFSA's and wish the Govt. would have given us many times the headroom they have for that program. Where possible I have TFSA terms come due near the end of the year, because it removes the leverage the banks/credit unions have over you to accept a low renewal rate because of their high transfer fees on registered accts. You can just cancel it (let it expire) and then reinvest it with a competitor in January, often taking advantage of their initial higher client recruitment rate and recapture your TFSA headroom. Some will offer to pay your transfer fees to get your business. I do not let terms just roll over to a new term as they will stiff you with a low rate and you can almost always negotiate a higher rate if you make the effort, or move them.
Still concerned about the market though, as the pension income is market dependent and if we end up in a long term so called 'L' market (because it resembles the shape of the Letter) pensions may be forced to Lower their monthly payments to their members.
The issue now is what to do with the staggered term deposits that are coming due because the current interest rates are terrible. I am going to need a new strategy and at my age I am increasingly risk adverse.
I retired several years ago while still in my 40's , while there are plenty of people with more money than me, I don't have to do anything I don't want to do, so I'm happy with that.I understand your point, but if I look at my basket of favourite stocks I have more cash on hand than the current value of those stocks some are relatively unchanged, while some are down substantially, When I choose to buy back in I will have overall more shares of everything than when I started, so a few points on interest doesn't worry meHope you realize at 1.6% interest you are still loosing money, your investment is decreasing annually. Buying power of a dollar decreases higher than 1.6%. With bank fees I would be willing to bet that even 4% you still loose.
Private equity and nothing less than 10% ROR. Preferably cashflow thru a TFSA and options. There are NO deals at any Bank, anyone know any millionaires that retired young and wealthy using banks as sole investment platforms??? There is a very good reason all Canadian banks post billion dollar quarterly profits. It will be more difficult to find private equity opportunities after this event but they still present.
HM
Sounds like we followed the same path, maybe got to the end a different way but both happy. No bills, living on cashflow, hunting, fishing and travelling the world (before and again after Covid) is a great retirement. Lets both enjoy a long one.I retired several years ago while still in my 40's , while there are plenty of people with more money than me, I don't have to do anything I don't want to do, so I'm happy with that.I understand your point, but if I look at my basket of favourite stocks I have more cash on hand than the current value of those stocks some are relatively unchanged, while some are down substantially, When I choose to buy back in I will have overall more shares of everything than when I started, so a few points on interest doesn't worry me
So are we back in a bull market now? wtaf? lol. Up 21% off the lows, whats everyones take, are we out of the woods now or will we revisit the previous lows? I know we were at oversold levels that haven't been seen before but a 21% pop?? Even with record unemployment numbers.. I personally think we have another leg lower but whats everyone else think?