Wait a second. The question is invest in one or the other. You can’t answer “yes”! You have to pick one or the other. Well I disagree. Here is a recent event which hopefully explains why anyone over 17 should maximize their TFSA and RRSP contributions. Should my Children 18 years and older
Some readers have inquired as to what is involved in the purchase of a residential rental property. While I am happy to provide residential rental property investing tips which we learned through experience, we have only purchased residential condos in Ontario.
We are certainly not real estate experts. I, therefore, strongly encourage you to seek professional help from a reputable real estate broker/agent and a lawyer with extensive experience with investment properties if you are interested in residential rental property investing. Purchasing a Residential Rental Property
I thought it would be worthwhile to touch on the subject of RESPs given that this past summer we had to make our first RESP withdrawal as our daughter entered her first year of post secondary education. Our Experience with Registered Education Savings Plans
I am happily married to the same lady I met my third week at university in September 1984.
I retired in May 2016 after a 34 year career in banking at the ripe old age of 56. My wife beat me to it. She retired in 2015 at the age of 52. Who said life is fair?
I have been a relatively conservative investor for over 30 years. While our passive income pales in comparison to that of Warren Buffett and Charlie Munger at Berkshire Hathaway, the annual dividend income we generate from the common shares we own in publicly traded companies and from our rental properties far exceeds that reported in any other “investing” blog I have read to date; as at December 2016, we generate six figures (this does not include cents) in passive income.
I am of the opinion that the lack of money creates unnecessary problems and have created this blog in the hopes of being able to impart some of my experiences over the course of my investment career. In addition, I am interested in learning from other like-minded people who are in the pursuit of financial freedom or who have already reached that level in life.
I hope you find the content of this website beneficial and encourage you to reach out to me with any suggestions you may have on how to improve the site or topics you think would be worthwhile sharing with others.
In The Beginning
Fortunately, from the day I started my career in 1980, I had been preparing financially for the moment where my services would no longer be required in the corporate world. I don’t know about you but I can remember starting my career full of excitement and anticipation. That feeling quickly disappeared when it sank in that I would be working 5 days/week and roughly 48+ weeks/year for some ungodly number of years. Continue reading “The Pleasure of Being Downsized”