To Retire At 56? Or Rough It Out...

[Dave Hounddriver]

2 hours ago, jpbago said:

You must be rich as the stock market in Toronto has more than doubled since 2009.

That's very interesting.  I don't follow it, I have a broker who does all that and all I see are the statements at the end of the year.  His statements don't coincide with the one you just made.  Shame about that.

[Kuya John]

13 minutes ago, Dave Hounddriver said:

That's very interesting.  I don't follow it, I have a broker who does all that and all I see are the statements at the end of the year.  His statements don't coincide with the one you just made.  Shame about that.

Or you need to find another broker!

[bows00]

3 hours ago, jpbago said:

During the 10 years ended April of 2015, the S&P TSX Index had a rank of 20 
with a return of 57%.

Yes, and this was a big factor in my decision to retire at 56, my retirement nest egg has more than doubled since then.  That is how money invested correctly grows over time, it is exponential, not linear.  It is all about time and rate of return.  If a penny doubles every day, at the end of the week, you would only have $1.24, but at the end of the month, it would have compounded to over $1 million. 

So my message to all you younger dudes, invest early, put your money in the stock market, contribute consistently, and never pull money out.  then you could retire earlier than 56. 

[Dave Hounddriver]

9 hours ago, Kuya John said:

Or you need to find another broker!

True that, and I did last year, but that was like closing the door after the horse was gone.  Oh well.  The previous guy was only investing my cash in "conservative stocks" and the new one has me pegged for "moderate risk" so we shall see.

[jpbago]

38 minutes ago, Dave Hounddriver said:

True that, and I did last year, but that was like closing the door after the horse was gone.  Oh well.  The previous guy was only investing my cash in "conservative stocks" and the new one has me pegged for "moderate risk" so we shall see.

I say do it yourself online. Don't pay any broker. You can trade for $9.99. Many years ago, I had a few brokers doing mutual funds for me but when I saw their fees whether the funds went up or down, I said stop. I looked at the top stocks in various good funds, set up two online brokerage accounts, and then bought those stocks and held onto them like bows00 says. With dividends re-invested, they have done remarkably well. Look at Enbridge, Transcanada, Alimentation couche -tard, and TD. I also trade 15 or 20 % of the total about 10 or 12 times a year. Lately two of my marijuana stocks in Canada have went up ~300% and ~500% in less than a year and it won't be legal for recreation until July 1, 2018 (Canada's 150th birthday). It is legal for medical purposes now with thousands of customers and some insurance plans cover it.

[Dave Hounddriver]

3 hours ago, jpbago said:

I say do it yourself online.

Up until the time I was 55 I totally agreed with you but my brain can't keep up with it any more so I prefer to let someone else do it.  I did do some investing on my own when I first arrived here.  All gone in no time.  I say do it yourself if you are good at that sort of thing ALL the time.  I did pretty darn good in my younger days.  Very darn good.  But one mistake and its all gone.  I like the guarantees at the better brokers.  So, as they say here, its up to you.

[jpbago]

5 hours ago, Dave Hounddriver said:

I like the guarantees at the better brokers.

Guarantees eh? Is it verbal or in writing that they guarantee that you will get 8 %? I put brokers in the same league as lawyers.

[Dave Hounddriver]

12 minutes ago, jpbago said:

Guarantees eh? Is it verbal or in writing that they guarantee that you will get 8 %?

They guaranteed me that over 10 years they would not lose any of my capital but they did not guarantee any rate of return.  On the other hand.  I lost much of my capital the last few times I invested.  Not every blue chip stock goes up.  Greyhound Canada was a blue chip stock when I bought them at $30 but then management sucked the cream off the top and when they eventually suffered a hostile takeover by some Scottish Firm I got $3 apiece for them on a forced sale .. That was when I started losing money on my investments.  I lost me edge and I needs me a professional.  But so long as its working for you then go for it.  I know many people who "invest"/play the market and think they are brilliant because they always make great rates of return.  I used to think like that.  Now I know better 

For me its insurance I take a risk on.  Some people have life, health, fire, auto, typhoon, earthquake, and many other insurances.  I have none of that.  I save bundles, until I have a big loss. 

[Jack Peterson]

1 hour ago, Dave Hounddriver said:

then management sucked the cream off the top

As they Do! 

[almost there1]

I just sold my properties today and will have a profit of just less than $50,000 and am getting $1083 per month SS and another $1000 every month in a payment due me for like 7 years    I hope to make it that long     63 years old now      Want to stay somewhere near Talisay Cebu because that is where my in laws live       wife is staying in US for another year or so to get her 40 quarters in for her someday SS.