Questions for leafs:

Open a TFSA Investment account, max it out (around 60 k if you reached age of majority in 2008), invest mostly in Weedstocks: Canopy( ticker: WEED) is a very, very, very safe bet until July.

>until july
then what do you do? sell it all?
also, how exactly TFSA works? does it have its own % interest just like a HISA at a bank or is it like a container into which you put stock and bonds that earns their own interest?

Container. Set up an online brokerage account with questrade or the equivalent and register it as a TFSA.

>You gotta be a big idiot to have your bank account "hacked". If someone somehow gets access to your online banking they can only send a max of $3000 a day anyways through e-transfers.
Not that rare to get your banking information compromised now, it's becoming a huge problem actually, and losing 3k still sucks even if the banks should reimburse you within a month or so. It can happen to anyone, all that's needed is to use your card somewhere that intercepts your credentials.

i heard something about that. i think there was a time when limit was 10k if i’m not wrong, but then they lowered it again to 5k.
so if i max my tfsa out and also earn some interest on top of that from my investments then will i be penalized for going over?

It was 5k/yr, the cons upped it to 5.5k, the liberals dropped it back to 5. They only count what you put in, not profits you make on money in it.

so TFSA is the best choice then? i think it’s not taxed until you withdraw, right?
and then i should choose what to invest into? what can you put into TFSA - stocks, bonds, ETFS, REITs, anything?

you should never really need more than 25k in your chequing acct. The interest rates you get at canadian banks (even with a good savings acct) are such dog shit that after inflation you will actually be loosing money. Invest in a diversified portfolio that seeks 7% annual return. If thats too sensible gamble on crypto for the gains, but don't come crying to me when the bubble pops.
If you want to live off the interest and never touch the principle you'll need at least 1.5mil in your portfolio depending on your standard of living. 2.5 mil is what you need to be absolutely never touch the principle

it was 10k, has no idea what hes talking about. neither does canopy growth corp is not a safe bet at all. all weed stocks are over priced as shit and will get justed. if you want to know for comparison, the stock user speaks of has a market cap of 6.5 billion on only 40m in annual revenues with no profit. they are losing money for now. for comparison air canada (the airline) is worth 7 billion, barely 1b more than canopy growth corp, but air canada has 2.4b in annual revenue and 300m in PROFIT. so just think about that, and kids will say "oh dont compare airline to weed" and "muh hyper growth" but its all bs. they own weed stocks and will benefit if u buy it too. the truth is its a massive bubble, there are over 84 public weed companies in canada (u can buy stock in) with cumulative market cap over 100billion $. either its a massive bubble or weed will sell for 2$/gram max for the best kush

Gains aren't taxed at all - it's a tax free savings account.

>6 figures

you cant include the 2 figures after the decimal point.

stay poor maple chuggin cuck feg

This. There's a ridiculous amount of hype around weed, it's just the greater fool theory at work. Also, any hiccup in legalization will send them tumbling, and it's already looking to be delayed.

TFSA is by far your best choice, you can direct your investment anyway you want and can walk away without ever paying capital gains tax. The only way you can fuck yourself is if you're a retard and you withdraw it all at the wrong time massive penalties. (disclaimer for retards: don't tie up cash you might need within 4 months in long term investments)

i see. so you work, get paid(which is taxed by the time you get the paycheque/deposit), then you put some of it into TFSA and once you earn interest from your investments in that account and withdraw it - it’s not taxed at all?

also this; weed stocks (like fucking everything else in the market) are way over priced.

if you like your money stay away from the stock market for the next year

Keeping 100k in a checking account is incredibly risky. You should only have enough to cover your bills, and a little extra, especially if you use a debit card, pretty much anywhere. All it takes is swiping one card reader at a gas pump, or using it on an unsecure site online, and some degenerate in the third world is gonna have a ball with that.

At the very fucking least, move it to a savings account attached to the checking - for that much on deposit, you'll probably get it free. And don't link the debit to it. Then all you need to do is transfer over what you need, and it's pretty much instant, online.

For the rest, learn2math. Figure out what your monthly expenses are, and a little extra, and figure out how much in dividends and interest you'd need to generate, which will point you towards what you need. 100k isn't going to generate much. If you get 20% return on it, that's 20k a year. If the market tanks, less. Can you live off 1.6k a month, after taxes?

tl;fr - you're not retiring young off 100k. Call a legit investment house, open an account, have them set you up for long term growth, maybe pull out a little every year for extras, and get a job.

100k won't go far in real estate in canada, but it's also an option.

exactly, doing some simple fundamental research makes it apparent that weed stocks are the most over priced thing since nortel. dont be suckered, OP. people like to take advantage of people who doit really know about investments by recommending something that only benefits them (they bought earlier, want more price rise) etc. just look at the charts for weed stocks and put it on long term graph, tell me you really wanna buy that? its like buying btc a few days ago lol

>1.5-2.5mil
wow really? that’ll take me ages.
even if i take up a part time job just to cover the rent, and remove owning a car from equation?
i’d love to trade my full time job for a part time so i can live off interest at least partially with capital preserved.

can you give an example of a wrong time?

>In any other case, the bank insures your money through FDIC for up to $100,000 per account.
Op is Canadian, dummy.

LOL sorry i actually did it myself and this is hilarious. this is where wants you to put your money right now

>>invest mostly in Weedstocks: Canopy( ticker: WEED) is a very, very, very safe bet until July

LOL its literally on the "return to normal"

Attached: lmfao.jpg (625x432, 46K)

It probably should sell for less than $2 gram under legal conditions. Even fire costs a fraction of that to produce at scale.

That's correct.

We have CDIC, which also covers 100k.

thanks for your input user.
i’m not really looking to retire of 100k. i just want to work much less but stay afloat and slowly grow my capital too. so i’m thinking i could work part time to perhaps pay for rent and internet bills and rest of the paycheck i’d invest back into my main 100k portfolio and reinvest most of the interest i’d earn but use some of the dividends to pay for food and other things like occasional travel.
do you think that’s possible?

>investment house
how about my bank? they already set me up with a TFSA so i assume i could use that to invest?

that’s very interesting.
yes i can see where you’re coming from. i should have invested back in ‘15 to gains. i guess it’s the same case with bitcoin back in its very early days - i would have enjoyed great return up until recently when it went down to 6.5k i think from like 20k, no?
unfortunately i missed both trains.
in case of weed stocks: what would you do if you invested early and then saw that it’s about to “return to normal”? i’m assuming if you leave it as it is you’d lose a lot of your principle?

stop loss for me on a volatile stock like this is 10 to 15%. if i lose 10 to 15% im out. I would have sold out anything over 25 if i got in early as thats already ridiculously over valued compared to fundamentals. im surprised it got so close to 40 to be honest, its the power of hype. nothing has fundamentally changed about this stock since around 15 dollars. but yes if i would be holding this now with gains i would get out now if not soon. it may double top again before dipping hard like it did late 2016 early 2017

With 100k? No. It's not enough. You're talking percentages here. Small percentages.

Hire a professional to invest it for you. Call one of these:

bizfluent.com/list-6786349-top-canadian-investment-companies.html

And get their sales pitch. You won't get rock start treatment, but they'll perk up at 100k. They can walk you through your goals and your strategies.

Let's put a bet on it then,amigo. Back to ATH of 44 by July. Overpriced yes, but coming in now, and running with it for a little while will still earn you decent coin on your investment ( assuming you never bought before the surge and crash ). Bubble this, bubble that, no pain, no gain.

Max out your TFSA phagg0t

won’t they do what’s best in their interest with my money?(MERs, etc)
because i though that its better to invest into some index fund like vanguard and leave it at that.

seei even said it may double top, so back to 44 at some point is possible, but its just greater fools like you buying into hype. if it does go back to 44 its dumping hard after. how long have you been investing? july doesnt mean shit. if they legalise on july 1st like they promised, weed stocks are getting dumped. july first legalisation is more than priced in right now. if it doesnt get legalised on time, it will dump. buy the rumor, sell the news. either way this will dump, so your risk reward profile isnt good. youre willing to risk getting dumped on in one of the most overpriced industires for another ~25%ish upside at most? not worth the risk

>how much would you need to save up and invest to be able live off dividends while slowly growing the principle and to not worry about having a full time job to pay rent, internet, mobile and car insurance bills?

Depends solely on your living expenses

Figure a 3% per year withdrawal rate to make sure you dont deplete your portfolio too much.

Divide whatever number you need per year to survive by 0.03 and that gives you the lump sum you need.
Protip: 100k is nowhere near enough

If 40k in dividends is enough to live off of (dividends are taxes at the income rate so you actually need to be making around 60k in dividends). 60k/0.03=2 million

July 1st is not legalization date... It doesn't matter if it's a bubble if OP times it right. No one said to hold it long term. Not quite sure why you'd assume that. Maybe because I didn't elaborate further after the first post, then perhaps, yes, apologies, but I'd think he'd do his own research and know how to play it. It will go past 44 next ATH. The decision on whether to cash in before or risk it is up to him. I have no illusions as to how long the uptrend can last.