Anyone investing heavily this year??

How much money did you lose/gain this past week?


  • Total voters
    30
  • Poll closed .

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BGOL Investor
When Becky Quick asked Ron Baron yesterday if he would buy Tesla stock at $176, I almost spit out my drink when I heard his answer. IMO, Becky is the best journalist on that show.

 

Madrox

Vaya Con Dio
BGOL Investor


The Hidden Costs Draining Your Investment Returns & How To Avoid Them

Imagine unlocking a guaranteed boost to your investment returns, year after year, without taking on any extra risk. This may sound too good to be true, so in this video, I'll be looking at the world of hidden fees and costs that are silently draining your investment portfolio. But rest assured, I will also be showing you what you can do to help sidestep these pitfalls and keep your money where it belongs - working for you.

Timestamps
00:00 Introduction
00:32 Why Fees Matter
01:16 Compounding Effects of Fees
03:14 Primary Fees for Investors
05:40 Subtle Hidden Fees
06:56 Bid-Offer Spread
08:31 Currency Conversion Costs
12:15 Fund Domicile and Withholding Tax
14:37 Synthetic Funds
16:27 Effect of Currency Hedging
19:33 Tracking Error
22:35 How to Minimise Costs
 

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Helico-pterFunk

Rising Star
BGOL Legend
IMO The Automatic Millionaire, though a little out of date, is still a fantastic book for automating your financial planning.


Sounds good. Thanks for the intel.

It’s like a work friend of mine says ... just make it as convenient as possible for yourself. Mark your calendar re: investments. Maybe have auto-deductions from pay periods for retirement savings so as not to think about that money. It’s sight unseen / set aside.

And I always say ,,, Feb - June is when all my big bills are. The 2nd half of the year is when I can save / invest much more. Not to worry about 1st half as there are still 6 months to work with and save $ more effectively.
 

Madrox

Vaya Con Dio
BGOL Investor

Water scarcity and the “Space” economy made UBS’ list of its five current favorite longer-term investment themes, with its monthly report highlighting broad ideas influenced by technological advancements, resource shortages and societal changes.

Water scarcity, Diversity and equality, Space, Food revolution, and Consumer experience – in that order – are “the most “compelling investment opportunities now,” Alexander Stiehler, head of Longer-Term Investment (LTI) Themes, said Friday. UBS looked at valuation and momentum indicators that drive its LTI themes and identified those that are particularly timely.
 

DC_Dude

Rising Star
BGOL Investor
I auto-pay everything, even my bills. I try to tell my friends, just set up a brokerage account or IRA and do auto-payments of $25 a week or whatever and you will be amazed how much your money will grow in a few years....

This one is so under-rated. I save up my coins and cash in every year or every 2 years. Get some sleeves from the bank and bag up everything.

5. Start a change jar​

Okay, I’m going to go really old school here.

I know it may sound a bit corny, but the age-old change jar method really does work, especially if you frequently take home cash tips and earnings.

All you need to do is designate a bottle, jar, or otherwise hard-to-access container as your savings jar and commit to throwing extra bills and change into it at the end of each day.

I did this one year and saved over $800 without even realizing it until I broke the bottle open at the end of the year.
 

Helico-pterFunk

Rising Star
BGOL Legend
I auto-pay everything, even my bills. I try to tell my friends, just set up a brokerage account or IRA and do auto-payments of $25 a week or whatever and you will be amazed how much your money will grow in a few years....

This one is so under-rated. I save up my coins and cash in every year or every 2 years. Get some sleeves from the bank and bag up everything.

5. Start a change jar​

Okay, I’m going to go really old school here.

I know it may sound a bit corny, but the age-old change jar method really does work, especially if you frequently take home cash tips and earnings.

All you need to do is designate a bottle, jar, or otherwise hard-to-access container as your savings jar and commit to throwing extra bills and change into it at the end of each day.

I did this one year and saved over $800 without even realizing it until I broke the bottle open at the end of the year.



Good points re: the auto payments & change jar.

My friend noted the auto deductions from the pay periods amount to about $5000 for the year, and then he just tops it up with additional contribution before tax season (if I remember correctly we can contribute until the end of Feb, and taxes are due by end of April).

As for the change jar ... my dad used to have a washed tall boy can of beer, and he would throw all his loonies and toonies in there. $1s and $2s. It amounted to hundreds annually, as you noted. It was pretty much always him just adding money to it, and once in awhile grabbing a few if he needed some parking money.
 

DC_Dude

Rising Star
BGOL Investor
Good points re: the auto payments & change jar.

My friend noted the auto deductions from the pay periods amount to about $5000 for the year, and then he just tops it up with additional contribution before tax season (if I remember correctly we can contribute until the end of Feb, and taxes are due by end of April).

As for the change jar ... my dad used to have a washed tall boy can of beer, and he would throw all his loonies and toonies in there. $1s and $2s. It amounted to hundreds annually, as you noted. It was pretty much always him just adding money to it, and once in awhile grabbing a few if he needed some parking money.
Yup and the reason I bag up the coins myself is because it’s free. Coinjar or those coin kiosks at the store take away from your profit.
 

Helico-pterFunk

Rising Star
BGOL Legend
Yup and the reason I bag up the coins myself is because it’s free. Coinjar or those coin kiosks at the store take away from your profit.



It's interesting - I don't think we have many of those in Canada at the stores. I've seen them in the U.S. ... but can't recall the last time I saw one here (coin kiosks).
 

Madrox

Vaya Con Dio
BGOL Investor


5 Hidden Costs of Fee-Only Advisors

Fee-only financial advisors are fiduciaries. They must make recommendations that are in your best interest. Yet those fee-only advisors who charge a percentage of the assets they manage for you are not conflict-free. In fact, the fee arrangement creates 5 hidden costs that you should be aware of before hiring an advisor.

We'll also talk about a better alternative to a percentage of AUM arrangements.
 
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