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@kevinfestner61266 ай бұрын
The value of dollar cost averaging, and second, not timing the market, but time in the market. In Schwab, I go between the schd, which is a domestic dividend fund, and schy, the international dividend fund. An etf called cowz is a value investing fund, which I am dollar cost averaging into. Here in the U.S., we have qualified and non-qualified dividends. Qualified dividends are taxed at capital gain rates, non qualified are taxed at normal income levels. Since 2015, I have been on a similar journey to yours. I recall exactly where I was when I made this decision (driving east on Centennial Parkway telling myself, I can change this). Looking back, this was a powerful decision.
@FIREWeGo6 ай бұрын
Is so true, once you decide to change your life and begin taking those steps, you never look back. The future is something brighter! You're well on your way as well to financial freedom. Great job! And, we may just look at that SCHY!
@mikep48696 ай бұрын
TFSA could have been better named the "Tax Free Investment Account'. But let's face it, if folks are naive to think they can only have a savings account, then they deserve to have only a savings account. As a society we do a terrible job at personal financial education. Banks certainly exploit this lack of knowledge and keep most people trapped in debt and living with poor financial habits. I believe that younger people today are better informed than I was in the 80's. You guys had a self-awareness moment, and through your channel, you have shown your viewers one path out of it (all the way to retirement), in record time.
@FIREWeGo6 ай бұрын
Thank you, Mike! You're so right about the terrible job our education system does. We truly hope that younger people are more prepared and starting their investment journey's earlier in life!
@TCTALKSTCFITNESS6 ай бұрын
Everything adds up. Investing long term is key, keep up the great work 💯💪🏾🍀
@FIREWeGo6 ай бұрын
Thank you so much!! 😊
@virnsky6 ай бұрын
Dining out is also one of our biggest expense. We have factored this in our budget as it is something we truly enjoy. Wow, 2022 is such a roller coaster ride!
@FIREWeGo6 ай бұрын
Lol, 2022 was definitely an up and down year! We still love eating out as well and have definitely factored this into our budget as well moving forward!
@User12345fan6 ай бұрын
I started a roth IRA in the US in March 2023, and by March 2024 it had gone from 19,500$, to 24500$ And a 25% appreciation, but now I am at 19% appreciation.
@FIREWeGo6 ай бұрын
Any and all growth is great! Congrats on investing in yourself 😁
@aurafritz5682Ай бұрын
I just started this year What ETF fo you have?
@sarahthompson50666 ай бұрын
Absolutely keep us updated on this! I Love experiments like this and am going to show my 20 year old son who I can’t seem to convince to invest…..just curious, will you funnel any of your KZbin earnings (which are about to go up now that you will have more time to develop content) into this (even quarterly) and keep it going long-term?
@FIREWeGo6 ай бұрын
That's actually a good idea! Let's see how that works out. We will keep you posted. It's definitely interesting to see the effects of compounding growth and interest 😊
@nncadi16 ай бұрын
when y'all start your slow travel, will you set up a separate channel for that?
@FIREWeGo6 ай бұрын
Right now, we are planning to keep everything on one channel! Incorporating travel, retirement and finances 🤗
@Wlachancegofordividend.6 ай бұрын
You could sell this stock and purchase a higher yield stock that pays you monthly. Example Horizon’s ENCL. pays $.29 per share monthly. This will increase your portfolio value without having to contribute
@FIREWeGo6 ай бұрын
That's true. there's lots of great monthly dividend options out there! We do have a significant portion of our portfolio in dividend stocks, so we are looking more towards growth for this particular etf 😊
@epictetus34066 ай бұрын
Will the new tax changes affect your plans? What about the stocks inside the corporation?
@FIREWeGo6 ай бұрын
The new changes won't affect us at the moment. The stocks inside to corporation aren't being sold. We are using the dividends. 😊
@dominiquetheeasyminimalist6 ай бұрын
In your last video, did I understand correctly that you will be considered residents for tax purposes, and that you will still be able to contribute to your TFSA? I thought that this status prevented us from adding money to the TFSA (maybe it applies only to the non resident status). Even though I consulted a tax specialist, I'm still confused 😂
@FIREWeGo6 ай бұрын
Hello! As long as you're a tax resident of Canada, you will be able to contribute to your TFSA. Once you become a non-resident, then you're contribution room stops until you once again become a tax resident 😊
@dominiquetheeasyminimalist6 ай бұрын
@@FIREWeGo Thank you! Looking forward to your next video, take care! 🙂
@FIREWeGo6 ай бұрын
You as well!
@FJX7166 ай бұрын
I put away about $800 a month in ETFs
@FIREWeGo6 ай бұрын
That's a significant amount! Great job. You have to be seeing the returns as well 😊
@iDrive1236 ай бұрын
Most people could find $250 a month if they tried.
@FIREWeGo6 ай бұрын
We like to think this is very doable by everyone too 🤗