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Old 11-29-2022, 07:33 PM   #521
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Congrats! Are you married? Any kids?
Married, but no kids. Kids would have thrown a huge wrench in my retirement plans!
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Old 11-29-2022, 07:52 PM   #522
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TFSAs donít start until a person is 18.
Oh, I didn't realize that about TFSAs. Thanks.


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If she plans on going to post secondary an RESP would make sense because the government will match 20% but otherwise a regular non-sheltered account makes the most sense.
She talks about it but in all honesty I can't see her going to post secondary.

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Is this saving for retirement or saving for a purchase sometime in the future because that would determine what to invest in based on the time horizon.
I suppose the ultimate goal is retirement as I wish I started saving a lot earlier than I did, but I suppose if she used it, one day, to buy a house or something along those lines that would be great too.
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Old 11-29-2022, 08:08 PM   #523
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I retired this year at the age of 49! I'm pretty excited to be retired while still young enough to enjoy it.

I got here through some very unorthodox investment strategies, mainly collectibles. I also had a small business that I sold, a commercial property which earns me some monthly rent for now, and I did well on some Bitcoin that I bought long ago and sold early this year. I missed selling at the peak, but I also got out before the worst of the crash. And my wife and I also have TFSAs and small RRSPs, but they aren't really a significant part of our plan.

Mainly, I invested over the last 35 years, and especially the last 16, in comic books and Magic the Gathering cards. While I wouldn't necessarily recommend this for the average person, this has been the industry I've been in professionally since the early 90s and I was confident in my ability to navigate it.

I cashed out the Bitcoin and my comics earlier this year, and that's all in traditional investments now. I didn't quite time the stock market perfectly, as some of the money went in before the bear market really took hold, but some of it did go in around the recent bottom as well. My plan (not really 'my' plan, I have a professional investment advisor and accountants for this) has a lot of resiliency built in, so I should be good even if there are years of bear market and inflation ahead. I still have the MtG and I'll be cashing that out in a few years to add to the traditional investment fund.
Just wanted to congratulate you on your retirement, well done!
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Old 11-29-2022, 08:47 PM   #524
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I retired this year at the age of 49! I'm pretty excited to be retired while still young enough to enjoy it.

I got here through some very unorthodox investment strategies, mainly collectibles. I also had a small business that I sold, a commercial property which earns me some monthly rent for now, and I did well on some Bitcoin that I bought long ago and sold early this year. I missed selling at the peak, but I also got out before the worst of the crash. And my wife and I also have TFSAs and small RRSPs, but they aren't really a significant part of our plan.

Mainly, I invested over the last 35 years, and especially the last 16, in comic books and Magic the Gathering cards. While I wouldn't necessarily recommend this for the average person, this has been the industry I've been in professionally since the early 90s and I was confident in my ability to navigate it.

I cashed out the Bitcoin and my comics earlier this year, and that's all in traditional investments now. I didn't quite time the stock market perfectly, as some of the money went in before the bear market really took hold, but some of it did go in around the recent bottom as well. My plan (not really 'my' plan, I have a professional investment advisor and accountants for this) has a lot of resiliency built in, so I should be good even if there are years of bear market and inflation ahead. I still have the MtG and I'll be cashing that out in a few years to add to the traditional investment fund.
What do you plan on doing with your time in retirement?
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Old 11-29-2022, 09:03 PM   #525
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What do you plan on doing with your time in retirement?
I am in the process of turning my three car garage into a zero car wood working shop. I've always had an interest, and I've done some cabinet making type stuff before, but now I'm going to get into making furniture.

I'm also into hiking and I've done a lot of day hikes in the mountains, but I'd like to get into some longer multi-day stuff.

And after that, cramming as much board/card/video gaming into the remaining hours in the day as possible.

We'll probably do some travelling as well, but my wife doesn't like flying and isn't that into travelling either, so that might be a bit limited compared to most people's retirement plans. I did some travelling when I was younger, so my wanderlust also isn't that high anymore. There are a few places I want to see though. Something like Machu Pichu, or the West Coast Trail, which combines hiking with travel is probably in the cards.

I'm only a few months in, but honestly, I wonder how I ever maintained a job with so many hobbies!
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Old 11-29-2022, 09:17 PM   #526
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I am in the process of turning my three car garage into a zero car wood working shop. I've always had an interest, and I've done some cabinet making type stuff before, but now I'm going to get into making furniture.

I'm also into hiking and I've done a lot of day hikes in the mountains, but I'd like to get into some longer multi-day stuff.

And after that, cramming as much board/card/video gaming into the remaining hours in the day as possible.

We'll probably do some travelling as well, but my wife doesn't like flying and isn't that into travelling either, so that might be a bit limited compared to most people's retirement plans. I did some travelling when I was younger, so my wanderlust also isn't that high anymore. There are a few places I want to see though. Something like Machu Pichu, or the West Coast Trail, which combines hiking with travel is probably in the cards.

I'm only a few months in, but honestly, I wonder how I ever maintained a job with so many hobbies!
Congrats. All the best to you.
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Old 11-29-2022, 10:05 PM   #527
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Originally Posted by mikephoen View Post
I retired this year at the age of 49! I'm pretty excited to be retired while still young enough to enjoy it.

I got here through some very unorthodox investment strategies, mainly collectibles. I also had a small business that I sold, a commercial property which earns me some monthly rent for now, and I did well on some Bitcoin that I bought long ago and sold early this year. I missed selling at the peak, but I also got out before the worst of the crash. And my wife and I also have TFSAs and small RRSPs, but they aren't really a significant part of our plan.

Mainly, I invested over the last 35 years, and especially the last 16, in comic books and Magic the Gathering cards. While I wouldn't necessarily recommend this for the average person, this has been the industry I've been in professionally since the early 90s and I was confident in my ability to navigate it.

I cashed out the Bitcoin and my comics earlier this year, and that's all in traditional investments now. I didn't quite time the stock market perfectly, as some of the money went in before the bear market really took hold, but some of it did go in around the recent bottom as well. My plan (not really 'my' plan, I have a professional investment advisor and accountants for this) has a lot of resiliency built in, so I should be good even if there are years of bear market and inflation ahead. I still have the MtG and I'll be cashing that out in a few years to add to the traditional investment fund.
Congrats. I envy you

My youngest will be 8 years old when I'm 49. So my goal is 60

Just out of curiosity, what kind of comics did you sell? I have tons from the early 90's that are probably worthless. Like X-Force #1, X-Men #1, Spiderman #1, etc. I have Spawn #1. Wolverine #50. The Infinity Gauntlet series as well. But just like hockey cards in the early 90's, they were all mass produced
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Old 11-29-2022, 10:53 PM   #528
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Congrats. I envy you

My youngest will be 8 years old when I'm 49. So my goal is 60

Just out of curiosity, what kind of comics did you sell? I have tons from the early 90's that are probably worthless. Like X-Force #1, X-Men #1, Spiderman #1, etc. I have Spawn #1. Wolverine #50. The Infinity Gauntlet series as well. But just like hockey cards in the early 90's, they were all mass produced
I owned Phoenix Comics on 16th Ave until a few months ago, so over the years I sold all kinds of comics. For the last 15 years or so, it was just new comics though, as we got out of back issues.

Some 90s stuff has a bit of value now, but only in absolute top grade, because as you mentioned the 90s was the time of heavy mass production. Investment wise, the early 90s is pretty much the worst era unfortunately.

The stuff I sold to fund my retirement was separate from what we were selling at Phoenix. It was mostly CGCed golden age stuff with a bit of silver age as well. I bought almost all of it through the big auction houses and on eBay from 2006 to 2016 and then also sold through Comiclink earlier this year.
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Old 11-29-2022, 11:26 PM   #529
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Congrats Mikephoen.

I have a boatload of kids and other activities / rec properties that keep me a long ways from retirement, but I certainly look forward to it!!! All the best!!!
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Old 11-30-2022, 10:40 AM   #530
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I am trying to help my girlfriend's daughter to start saving. She is 15 years old and has just started her first job.

I told her that if she was willing to put in $150 I would match it and we'd invest it and get her started. I've been talking to her about compounding interest and all that good stuff; lots of things that I wish I had learned at her age!

Any good advice on what I should get her started with at her age? TFSA, RRSP? She plans to contribute a small amount every month as she won't be making a whole lot of money.

I'd like to get her into something she could watch with an app on her phone, whether it's through a bank or whatever so that she can see her money slowly growing. Hopefully!

I'm a financial rookie myself and don't do much else but contribute to an RRSP that I started years ago so any advice is appreciated.
When my grandson was 15 he got started on the 1/3ís plan; from every paycheque 1/3 to long term investment, 1/3 to savings for whatever, and 1/3 for daily spending. Seemed to work pretty well.
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Old 11-30-2022, 10:52 AM   #531
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Married, but no kids. Kids would have thrown a huge wrench in my retirement plans!
Congrats, but you retired on 'Easy Mode' LOL
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Old 11-30-2022, 11:32 AM   #532
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Originally Posted by mikephoen View Post
Married, but no kids. Kids would have thrown a huge wrench in my retirement plans!
Probably a good thing, imagine how grumpy those kids would have been seeing all those collectibles new in package and unable to play or touch them.
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Old 11-30-2022, 02:15 PM   #533
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Married, but no kids. Kids would have thrown a huge wrench in my retirement plans!
Congratulations. Yeah kids is an entirely different equation, it takes a good while before they are off the payroll. That and travel are two big retirement expenses for many people.

Love hearing how intentional you were in carrying out your retirement savings plan. Curious what your traditional investments are now? Equity index funds, bonds etc. Once you move into spending vs investing mode it's a different strategy for sure.
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Old 11-30-2022, 06:11 PM   #534
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Oh, I didn't realize that about TFSAs. Thanks.




She talks about it but in all honesty I can't see her going to post secondary.



I suppose the ultimate goal is retirement as I wish I started saving a lot earlier than I did, but I suppose if she used it, one day, to buy a house or something along those lines that would be great too.
Overall then some kind of non-sheltered investment account or high interest savings account would make sense. As to what to invest in I think it depends on her tolerance to lose money. Can she handle putting in the 300 and it only being worth $240 next year? If she canít or you think that would teach the wrong lesson then donít put it in equities. If you think thatís okay then an index based etf like Xeqt or any of the others mentioned above is an easy way to get started.

If you want it guaranteed to grow then the GIC route would show its value growing every month. The drawback / benefit is itís locked in for a year. If access to it is important then just a high interest savings account is okay but only earns about 2.5%

Any of the options is good depending on need as I think you are right that just getting in the habit of saving something is a good one to get into.
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Old 11-30-2022, 08:01 PM   #535
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Probably a good thing, imagine how grumpy those kids would have been seeing all those collectibles new in package and unable to play or touch them.
Cool story bro. My son when he was 7 years old used comic boxes to climb to the top of my shelf and opened up 20 sealed packs of the original Pokemon set that I had saved up for 20 years....
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Old 11-30-2022, 08:14 PM   #536
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I am in the process of turning my three car garage into a zero car wood working shop. I've always had an interest, and I've done some cabinet making type stuff before, but now I'm going to get into making furniture.

I'm also into hiking and I've done a lot of day hikes in the mountains, but I'd like to get into some longer multi-day stuff.

And after that, cramming as much board/card/video gaming into the remaining hours in the day as possible.

We'll probably do some travelling as well, but my wife doesn't like flying and isn't that into travelling either, so that might be a bit limited compared to most people's retirement plans. I did some travelling when I was younger, so my wanderlust also isn't that high anymore. There are a few places I want to see though. Something like Machu Pichu, or the West Coast Trail, which combines hiking with travel is probably in the cards.

I'm only a few months in, but honestly, I wonder how I ever maintained a job with so many hobbies!
hmmm someone bumped an old AB politics thread and i'm pretty sure this is why you retired early and not because of bitcoin and comics.

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When I was in Junior High, me and a couple friends set up a money loaning business. We charged 10% interest per day. We taught the other kids a thing or two about financial management.

At least until the damn teachers shut us down.

I don't think my parents were even mad when they found out, haha.
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Old 12-01-2022, 02:11 PM   #537
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Cool story bro. My son when he was 7 years old used comic boxes to climb to the top of my shelf and opened up 20 sealed packs of the original Pokemon set that I had saved up for 20 years....
Was there anything good in them? Charzard?
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Old 12-01-2022, 02:27 PM   #538
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Was there anything good in them? Charzard?
No. nothing great. The sealed packs are worth way more.

My wife made him sit in the basement in the dark for 2 hours. I was pushing for 2 days.
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Old 12-01-2022, 02:29 PM   #539
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My wife made him sit in the basement in the dark for 2 hours. I was pushing for 2 days.
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Old 12-01-2022, 08:28 PM   #540
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You can hire someone for way less than 2% and they can run that for you.

So a lot of independent fee-based advisors will be in that 1%-1.5% I assume, then plus whatever MER the fund has. The thing is to find "a guy" (so to speak) that can consistently do a good job... which IMO is to at least match market returns (or maybe more) and magically avoid most of market drops, whilst most importantly not miss market increases. Where do I find "a guy" to do this?



BTW... anyone know or have experience with: Integrated Wealth Management out of Calgary? If so please DM me with your thoughts/experiences. Will keep private. thx
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