Posted by: [email protected]
Here's one strategy to grow your TFSA.... don't try this at home.
The CRA is listening too. Good luck to Jacob, he’ll need it. A quick google showed only 3 RMTs named Jacob in Toronto, one of them running a “tax free” gambling business.
I’m sure the men in black CRA vans have stronger search skills than me, willing to spend more than a minute searching.
https://financialpost.com/investing/cra-watches-marketable-securities-tfsa
OTOH, paying some income tax on 1.7 million in gains belongs in the first world problems thread.
Another one in the "don't try this at home" category:
B.C. man sues RBC after earning then losing $415M on Tesla stocks
Lol, that news item just popped into my news feed as well!
Posted by: [email protected]
Another one in the "don't try this at home" category:
B.C. man sues RBC after earning then losing $415M on Tesla stocks
Had I been silly enough to concentrate on Elon alone with $88K in 2019, it'd be a million today (buy and hold 4000 shares). Or $1.69M if I'd started in 2014 with this thread and $88K (buy and hold 6769 shares). I can't imagine the skullduggery needed to increase it to $415M, but I guess that's why I ride a 2021 with cables pulling the derailleur.
Posted by: [email protected]
Another one in the "don't try this at home" category:
B.C. man sues RBC after earning then losing $415M on Tesla stocks
JFC, you would think most people would pull the plug at like 50mil, or even just 10. I just cannot fathom risking it all and not cashing half of it out part way through and then letting the rest ride.
Posted by: syncro
Posted by: [email protected]
Another one in the "don't try this at home" category:
B.C. man sues RBC after earning then losing $415M on Tesla stocks
JFC, you would think most people would pull the plug at like 50mil, or even just 10. I just cannot fathom risking it all and not cashing half of it out part way through and then letting the rest ride.
10M and you can live incredibly comfortably till the end of your days. It's nuts to not have taken that off the table on the ride up.
I also don't believe his claims at all. "The claim says RBC advisers failed to understand and support DeVocht's evolving wishes to "essentially retire" by liquidating his Tesla options and moving the wealth into secure investments that would generate passive income."
Yeah ok. If you're 'savvy' enough to be options trading to that level, you're savvy enough to jam it all into a high interest ETF.
Posted by: Couch_Surfer
10M and you can live incredibly comfortably till the end of your days. It's nuts to not have taken that off the table on the ride up.
Well to be honest, 10mil would barely be enough to support my needs.
Posted by: syncro
.
Well to be honest, 10mil would barely be enough to support my needs.
Apple Watch: Nay. Problem solved.
actualy you need way less $ in retirement than you think because your spending habits are already wired in there but do try
Posted by: [email protected]
Another one in the "don't try this at home" category:
B.C. man sues RBC after earning then losing $415M on Tesla stocks
The nitty -grittys are published in the lawsuit.
https://opmwire.com/content/files/2024/10/Notice-of-Civil-Claim.pdf
If all this passive index investing stuff ends up not working, my plan B is to sue Heckler for bad advice ;-)
I was actually afraid of that, considering deleting the thread.
THIS IS NOT FINANCIAL ADVICE, NOR AM I A FINANCIAL ADVISOR (ER).
Based on that last article, I should have 400M in Tesla money right now but for Hecklers advice. Joining the class action on Heckler.
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