Most of you don't listen to reason. You seem to think the stock market will save you,now,and in retirement. You're only hoping it will.
I would rather sleep peacefully at night not worrying about my money and whether I'm losing it.
I totally disagree that you need to keep it in mutual funds,stocks or anything equity related.
I'd rather keep my money safe in cash accounts and GIC's,that's the same thing as CD's for any americans who read this. You won't make much,but your money will be safe.
Plus,saving money by buying in bulk,and looking for savings on everyday items will save you more than any mutual fund will make you.
Buy toothpaste,toilet paper,regular food stuff--and look for savings on cell phones,insurance or even
getting rid of that house you can't afford,selling it and renting. You'll have less headaches every month as well.
Think of ways to make extra money too. Myself, i make extra money as a writer online,and make websites for people. Don't spend a bunch of money starting a business that is cash heavy and
labor intensive.
Also, look for ways to save taxes. if your bank has a tax free savings account---put some of your cash there. IRA's,401 K's all tax you big time if you take money out. Yeah, you save tax now by putting money in them,but if you take any out,they nail you big time,and you're taxed when you start drawing on that retirement savings.
That's why you can put cash in tax free savings,and can even draw on it tax free. In Canada if you don't put any cash in tax free savings,the amount you can put in actually builds up over the years to a maximum,and you can put that in there and draw on it tax free.
To me that's better than any stock,mutual fund or investment.
So, use these few tips to save cash and sleep like a baby at night like old markie.
I would rather sleep peacefully at night not worrying about my money and whether I'm losing it.
I totally disagree that you need to keep it in mutual funds,stocks or anything equity related.
I'd rather keep my money safe in cash accounts and GIC's,that's the same thing as CD's for any americans who read this. You won't make much,but your money will be safe.
Plus,saving money by buying in bulk,and looking for savings on everyday items will save you more than any mutual fund will make you.
Buy toothpaste,toilet paper,regular food stuff--and look for savings on cell phones,insurance or even
getting rid of that house you can't afford,selling it and renting. You'll have less headaches every month as well.
Think of ways to make extra money too. Myself, i make extra money as a writer online,and make websites for people. Don't spend a bunch of money starting a business that is cash heavy and
labor intensive.
Also, look for ways to save taxes. if your bank has a tax free savings account---put some of your cash there. IRA's,401 K's all tax you big time if you take money out. Yeah, you save tax now by putting money in them,but if you take any out,they nail you big time,and you're taxed when you start drawing on that retirement savings.
That's why you can put cash in tax free savings,and can even draw on it tax free. In Canada if you don't put any cash in tax free savings,the amount you can put in actually builds up over the years to a maximum,and you can put that in there and draw on it tax free.
To me that's better than any stock,mutual fund or investment.
So, use these few tips to save cash and sleep like a baby at night like old markie.
No comments:
Post a Comment