/biz/ - Business & Finance

>>58321710
So cringe
There's no capital gains tax in your tfsa. U should be gambling on options and making as much money as quickly as possible so you can leave Canada for good, like I did.

Canada is unrecognizable from when I left a decade ago. By the time you're retirement age it'll literally be a third world country. Your savings are going to be inflated away to pay for the importation of more pajeets. Why the fuck would you build a boomer tier, long term investment strategy in a country that is falling apart?

Just wage slave for another 40 years bro. You will make it.

Throw all your money in a TFSA and put it under VFV which is tied to the S&P 500 index. After maxing that out throw the rest into BTC.

Although this country has a decade at most before it completely collapses

>>58321877
Don't I have to pay US withholding taxes on VFV in a TFSA? How much better is VFV compared to VEQT anyways?

GET YOUR MONEY OUT OF CAD IMMEDIATELY!

The Bank of Canada is in a tough spot, they can lower rates to save over-leveraged mortgage holders, or they can keep them raised to support the Canadian dollar.

Both options are bad, since one destroys the economy and the other destroys Canadian currency. Either way, you DO NOT want to be invested in Canadian companies or hold Canadian dollars (aka leafbux, northern pesos, etc.)

If you are Canadian you need to buy unhedged funds or convert to USD ASAP. If you are non-Canadian, stay away from Canadian investments.

>>58321988
>conversion to USD fees
>US taxes fees
no thanks

>>58321973
Young
Amazon warehouse job
Fascinated by canadian boomer investment strategies
Takes advice from a gay midwit millennial on YouTube

Ok I see now.
Ur one of those "new canadians" aren't you? Probably on a student visa, thinking you just hit the jackpot and are going to live a cozy middle class life in a formerly white country?

Ur fucked my pajeet friend. I'll say it again. Options. Make money fast and get out. You're probably better off in your home country, especially with an extra low 6 figures or whatever.

>>58321710
Just gamble on crypto retard

>>58321844
>gambling on options
i thought if you make too much money or trade too much with your tfsa they will tax you anyways

as a fellow canadian I am gambling all my hard earned income on low mcap cryptos and then fucking off to some european country cause I have dual citizenship
fuck this pajeet invested shit hole

>>58321710
Youre the same guy from last week.
>I have ~42k in leafbucks savings as a 22 year old warehouse worker in Toronto
Go back to school for engineering and get out of Canada.
>My main goal is retirement by 50-60 years old
Ok
>I was thinking of dumping 14k to my TFSA and invest 7k into VEQT because I'm young and stocks ALWAYS outperform bonds in the long-run
You don't understand bonds at all do you or why people invest in them.
>For the remaining 7k I want to invest it in Manulife and use DRIP on it because this guy said so
This guy looks and sounds like a retard. Also if his DRIP theory is correct (its not) than why wouldnt you just put all of your 14k into it? VEQT will outperform some shitty boomer leaf dividend stock over 30 years and its not even close.

You need to take some time and learn finance.

>>58322003
you idiot, use Norbert's Gambit and it's basically free

Also, I said UNHEDGED, so even if it's bought with CAD it's invested in other currencies

>>58322059
>i thought if you make too much money or trade too much with your tfsa they will tax you anyways
Day trading is what gets you. Buying and selling huge quantities in a short time frame will trigger red flags. There is a guy in /smg/ with a considerable fortune in his TFSA but its all from buying and holding one stock for years.

>>58322059
You realize that anyone who has "made it" and escaped Canada has not done it by the book right? The CRA is significantly more incompetent than the IRS. While in America you get access to WAY better means of protecting your wealth and not paying tax, if you end up on the wrong side of the IRS you have to do as you're told.

In Canada its much harder to amass wealth but luckily the CRA is lazy and incompetent. If they flag you for something it's usually becomes a negotiation as opposed to a directive.

Just focus on making money quickly and getting out. If they flag you for something in a couple Years you're either long gone, or in a position where you can negotiate (now that you have capital and can hire a lawyer/accountant).

See I can tell you're a third worlder because you expect comfy western country to take good care of you as long as you're a good boy and follow the rules. You're going to be in for a rude awakening.

>>58322095
>Go back to school for engineering and get out of Canada.
Fuck school
>You don't understand bonds at all do you or why people invest in them.
From what I've gathered, people only invest in bonds when they start aging closer to retirement and need the security of the bonds. At my age I don't need that kind of security. By 30 I planned on going from VEQT to VGRO, which is 20% bonds as opposed to 0%.
>You need to take some time and learn finance.
Got any good sources?
>VEQT will outperform some shitty boomer leaf dividend stock over 30 years and its not even close.
VEQT doesn't pay dividends though.

>>58322263
>By 30 I planned on going from VEQT to VGRO
Why would you need any security at 30? I would go balls to the wall risk until 50.
>Got any good sources?
You should be in /smg/ asking questions, reading the entirety of Investopedia, and Khan Academy economics/finance classes. If you plan on investing your entire life you should know economics. It's not a case of "just because I drive I dont need to know how an engine works" either, you are at a disadvantage by not knowing how the market works.
>VEQT doesn't pay dividends though.
It does actually. Deepdive literally everything before you invest. Open a tradingview.com account and go crazy.

The point is though that chasing dividends while young is proven less effective than simply investing in growth stocks over the same time period.

>>58322351
>The point is though that chasing dividends while young is proven less effective than simply investing in growth stocks over the same time period
Source? Sounds intriguing. Currently reading through "The Simple Path to Wealth" by J L Collins and it's telling me the exact opposite.
>Why would you need any security at 30? I would go balls to the wall risk until 50.
So I don't end up homeless dude? I don't get this idea of life being some disney world cruise until you're 35. Plenty of people my age are/have already gone homeless. The reason I never even bothered investing to begin with despite having a healthy amount of savings because I had no idea where my life was going until just recently. I don't know where you grew up but in my neighbourhood life hits you fast.

>>58322351
>>58322467
Not to mention how hard it is to even get a McJob. Seriously where tf do people get this idea that life is risk-free until your 30?

>>58322520
>Seriously where tf do people get this idea that life is risk-free until your 30?
You have time on your side, and you'll realize how important that is when you get a little older. You know that old boomer quote "Youth is wasted on the young"? Well its actually 100% accurate.

You know just by having 14k saved up at 22 you are probably better off than almost all of your peers. Keep it going.

>>58322595
>You know just by having 14k saved up at 22 you are probably better off than almost all of your peers
42k actually, but thanks.
>You have time on your side
What good is time though for all the young people getting priced out of homes and no job opportunities? Canada is quickly becoming a hellscape.

>>58321710
Good to see that you've reevaluated your retirement goals based on the previous thread.
However you still don't know the first thing about investments, dumb retard. Read a book. In the meantime the cheat sheet is:
- Never invest in canadian bullshit
- SPY or QQQ, set and forget
- Don't touch it, you're too dumb for this

>>58321973
US witholding tax is only paid on dividend and is like 15% or so (the rest is reimbursed). In an RRSP there is no such witholding, but dividends are a meme scam and don't matter.

>>58322780
That's why the best investment is to hustle for a way out instead of thinking about how to put your pennies in a canadian savings program to hopefully retire in a country that won't even have par quality of life with current zimbabwe by the halfway mark.

>>58321710
Never heard of leafbucks Anyway I don't respect your currency because I am American. 42k leafbucks = 1 American dollar

If your holding VUN does it make sense to switch it for VTI? Will be leaving Canada in the next two years since work approved international remote work.

>>58323085
>SPY or QQQ, set and forget
Aren't those basically VFV? Or at the very least cover the same index (S&P 500)? Why not just go with VFV instead of getting taxed to hell with SPY or QQQ?

>>58321710
reminder that the rcmp published a censored report that stated one of the major threats to our country is the fact that most under 35s will never be able to afford a house
https://www.documentcloud.org/documents/24512494-rcmp-whole-of-government-five-year-trends-for-canada

>>58323368
>one of the major threats to our country is the fact that most under 35s will never be able to afford a house
Does owning a house seriously matter to people? I honestly would be satisfied with just a one bedroom apartment all to myself until retirement.

>>58323383
After getting evicted a couple times so they can raise the rent you will probably start to care.

>>58323156
>That's why the best investment is to hustle for a way out
But how? And go where exactly? My last chance is gaining some construction skilled trade skill and fucking off to the States, but that requires like 5 years.

>>58321973
VFV is a better bet since America is still the top dog economically. VEQT doesn't give you near the same amount of return since that's diversified into worldwide etfs.

Although right now I'm pretty damn sure a massive correction is gonna happen soon since the entire market is more consolidated than during the Dot Com bubble peak.

>>58322052
>Ur one of those "new canadians" aren't you
I was born here

>>58321988
I make 42 USD/hr WFH and I'm Canadian

>>58323438
>how
Depends where you want to go. You can try to leverage TN to get into the US but US companies are hostile to non-H1B status nowadays for unknown reason, wasn't like that until about 2015.
You can try getting into the EU, companies there are perfectly fine with getting people a visa now (don't know what's going on but it looks like there's some kind of generalized funding spree in the EU and companies are increasingly trying to take risks, US-style, so now's the time for this)..
Is whatever you're doing not covered by TN? There is some leeway based on the specific wording of your profession sometimes.
Overall it depends on lot on what you do professionally and/or if you're a student, or if you're willing to do a master's degree.
If you are willing, a master's degree is a backdoor into basically any country you want.

>>58323769
Post hand

>>58324165
Notice his specific choice of words. He didn't deny it, he merely said he was born here.
Clearly his parents are not canadians.

>>58324184
He's a 2nd gen pajeet who think he can copy passive boomer investment strategies from a couple of decades ago and have a comfy early retirement, not realizing that politicians pandering to people like his parents have made that all but impossible.

>>58324328
Can't blame him though, if you travel you'll see that canada pays metric fucktons on advert spots and billboards internationally, filled with the most abject lies about "lower taxes" and "american dream"-themed contents. Tons of 3rd worlders get conned into coming. Then usually one of three things happen: they save a tiny bit more money staying so they vow to leave in 10 years when they've saved up (then the little money they save gets eaten up in unforeseen costs because that's canada for you), they immediately go back (i.e. within 6 months) -- a scenario that's become increasingly common in the past 7 or so years, or they try their best to self-delude that they didn't make the worst decision in their life (you'll see this time wear canada sweathers and canada hats and go to every sugar shack every winter)

>>58321710
Post hand with timestamp first if you want advice

>>58324184
>>58324328
>>58324438
My families been here for generations. Are you retards seriously making up some schizo narratives? Are we forgetting I have almost 50k? How else would I have that if my parents didnt own property. I'm starting to think none of you niggers know what you're talking about.

>>58324592
Busted

>>58324592
Wow there chang, settle down.

>>58322080
>pajeet invested shit hole
how did this happen? seriously

>>58321988
>one destroys the economy
Why does everyone keep repeating this nonsense that deflation would be bad? I swear, this mentality only started in 2020 when covid money printers went into retard mode. It's like everyone got collectively purged of the memory that deflationary market cycles are healthy and natural phases

It's been a few years since I took my econ 101 course, do they teach zoomers that deflationary bear markets are anti-semitic and the return of Hitler nowadays? Wouldn't be amazed

>>58324854
Like usual it's msm-based brainwashing. It's hardly the first or only concept that just vanished from collective (baaaah!) knowledge.

>>58321844
The only option allowed in a TFSA is a covered call. If your trade history shows otherwise and the exchange somehow lets you do it, you get charged tax on it. You can't even short in a TFSA.

The only risky things we can fill a TFSA with are bull/bear ETFs with multipliers, like SOXL/SOXS and crypto ETFs and ETNs. If you're on Interactive Brokers there is a list of foreign exchanges that are also TFSA eligible and you can access most of these through them.

Note that covered calls are useful in an instrument where you do not get the room back on a loss.

How does impending 3rd-worldness impact the viability of buying land along a trade route, building a fortress, and waiting until the time is ripe to become a feudal lord? As I see it, it's nearly time to start baronmaxing.

Seriously though, if "they know not of the arch or pen" then if you can best them in physical defense you can best them in all regards and come out in the top percentile of the new non-nation of Canada.

>>58324917
No, the only option that you can sell* is the covered call. You are allowed to buy puts and calls.

>>58324805
they just kept pouring in, every year the amount increases, not only are they flooding in through family-tied visa programs and long term student visas that gradually roll over into permanent residency they are also having children at alarming rates
the white man is finished here, we better just pack up and leave
I was out for a walk in a scenic part of town today and everybody was indian, I am, by far the minority now
let them do with this place what they will, it will become india again with all the trash and lack of infrastructure, they love it here because it is maintained by the white man, but once he's gone it's going to be delhi all over again

>>58324967
What really gets me is that when I go vacation in european countries that are supposedly "taken over" by "somalis" or "nafris" and other undesirables, actually it's 90%+ white locals everywhere I look. Meanwhile in canada which is supposedly still white, it's indians and chinks anywhere I turn. Fucking sweden is so white and conservative it would make the average cucknadian spin and call it a nazi ethnostate.

>>58324999
very true
I remember visiting sweden in 2018 to see a friend, I expected a third world shit hole because of what I had been reading on /pol/ about immigration but it was the whitest place I'd seen
everyone was white and beautiful
compared to here which is basically india, I remember riding the train home from an area I don't often visit to another which I don't often visit and it was jam packed, the station platforms were jam packed and every single person was brown. I have been to india and it was the exact same feel, crammed together, smelly, hot, everyone neutral expression and dead inside

>>58324903
>It's hardly the first or only concept that just vanished from collective (baaaah!) knowledge.
It's like when I talk about shrinkflation to people and a concerning amount have no clue what I'm talking about when I ask "dude did you see how tiny blocks of cheese and tins of coffee have become?" and I get the fluoride stare in return. I ask myself how anyone can fall for this shit when I hold food products that are 40% smaller than 2 years ago, but such an incredibly low-brow marketing strategy apparently works.

>>58321844
that is incredibly risky especially if you dont know what you are doing since you are only allowed to contribute a certain limit into the tfsa. if you end up losing trades or "blowing up" the account, you cant ever redeposit that money back, your tax advantage is gone forever.

>>58324999
>>58325015
I was also pleasantly shocked visiting Europe and seeing the opposite of every /pol/ meme. Everyone was laid back and had great senses of humor, and not only were the women 10x hotter, they were far more feminine and pleasant to talk to. Like many point out on here, the "nice Canadian" is an obnoxiously arrogant belief that only leafs repeat. That's why when leaf normies travel, they all comment "OMG the people here are so nice!", because literally everyone outside of Canada juxtaposes the cold and cuntish standoffish attitude everyone here has.

>>58324805
We lost WW2

>>58325073
That's true. Also you can't claim tax credit on the losses like you could in a normal investment account.

>>58321877
Is VFV better than XEQT?

>>58325107
yeah, thanks again for reminding me that I need to leave this place
thank god I have dual citizenship
trying to figure out where in europe would be better, almost thinking scotland or something just because they speak english and tons of old architecture and still wild nature similar to west coast

>>58323368
I'm 29 and I have 4 bed 2 bath. ( it's a trailer lol)

>>58324943
>and come out in the top percentile of the new non-nation of Canada.
this will never happen without the US collapsing first, since the world has to be preoccupied
what does
>they know not of the arch or pen
mean

I need to get out of this shithole
yesterday