this post was submitted on 14 Jul 2023
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My success of the week: while taking a walk with the children, I found a copy of David Chilton's The Wealthy Barber in a Little Free Library.
My biggest failure: I noticed that for some people, CASH.TO has replaced more lucrative investments like XEQT, for example. I understand why: it's reassuring and safe, and earning 5%+ is nothing to scoff at. I had that investment profile for a long time due to various reasons. However, if I had started investing when I could and didn't put all my money in HISA, I would have achieved my FIRE goals this year with a substantial amount in my investments. So, be smart and don't make the same mistake I did.
One-third of my portfolio is currently allocated to CASH.TO ๐
However, this is intentional as I am saving this portion for the down payment on my first property.
I'm doing it as a hedge against this supposed recession. If the stock market takes a huge shit, I'll sell my cash position and dump it in. If not, well, it's still 5%!
I was kind of like you during a large part of the 2010s. I regret it quite a lot now... I'd advise reading Even God Couldnโt Beat Dollar-Cost Averaging by Nick Maggiulli and What if You Only Invested at Market Peaks? by Ben Carlson, these contributed a lot to me changing my view.
CASH.TO is great for your use case. But I've seen so many people getting stuck with it recently that I think it was important to say it !