Something I've recently come to learn. In the last two months I've gone from just stashing cash away (gaining little to no interest) to putting a bunch into crypto currencies, and conventional stock market through my TFSA (Canada). The nice thing about the latter is that you pay zero taxes on any money made if it's through your TFSA. Now it's time to let my money work for me, while I'm at work haha. More people need to push themselves to look into these things, instead of blowing money on depreciating liabilities.
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Whatt!! Zero taxes through the TFSA? A capital gains free way of investing in the stock market. Man I'm jealous. I think I'll have to move in with an uncle in Toronto, haha. Joking aside, absolutely! There's nothing worse than coming into a significant sum of money only to blow it on a car, appliances, etc, like you said on depreciating liabilities. I think this past year in crypto has afforded many people to choice to make extravagant purchases or build a basis of passive income to generate benefits for decades to come. I just hope people choose wisely. :p
Haha...well I think you have to have a Canadian SIN number to be able to open a TFSA, but I know you were making a joke. I've yet to make a killing on crypto's....but so far I'm up a few thousand from a 9 grand investment. Between getting in a little too late, making some bad choices (newbie stuff), etc...I missed out on some life changing opportunities. That's the game. It's still a new world, and the masses have yet to begin exploring it. We're still in it early compared to most people. Here's to prosperity! Take care.
@darkinfiniti That's fantastic ! It's great to see that you understand the value of investing in yourself. Keep learning my fellow friend, it never hurts! ;) 👍 Thank you very much for sharing your thoughts with us! It is truly appreciated :) Did you check out the new tag I created ? Well, once again... thanks.
Thanks to you as well. Always trying to learn new things, especially in the investment world. Been working too hard the last 10 years, but it's given me the chance to make the money to get into the investment world. Now it's time to get the money working for me, so I can retire to a nice beach somewhere haha. I think we're all looking for something of that nature. Slavery sucks. Still new to this steemit thing, so I'm trying to navigate as best as possible. The layout doesn't make it easy for newbs. This site/idea could use some simplification. I'll be sure to read some more of your stuff when I get the chance, though. Take care out there.