056 – Stages of Investing

In this episode we discuss the different stages of investing and where you go next as you learn more and grow your nest egg. We drink some of our favorite beers kindly purchased by Tyrell. Money Mechanic doesn’t think that you just own an ETF and chill. As you progress you can seek higher returns and take on different risk. Here in the FI Garage, we’re all on the path to FI, however, we consider the RE part optional. #FIRE

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Beers – [3:19]

Some Points we missed in ETF’s [10:40]

Stages of Investing [15:30]

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  1. Love it boys. Get episode. Well played Economist. 😉

    I for one love the beer geeking information.

  2. Finance and fitness are much alike. Some people need simplicity to stick with a plan. I train alone and can manage, while some people need Crossfit or other group settings. I am ok with complicated, but for instance my sister, she needs simple. Even buying ETF is a lot for some people. Tangerine new ETF portfolios seem to be a good compromise for people who need “set it and forget it” template. Optimal is what people can stick to for the rest of their life (like diet).

    1. Hey Marc,

      You draw a good parallel there between finance and fitness. As we always stress it’s a personal journey, and part of that is understanding and accepting the type of investor you are. There are so many options now that are low fee and ‘set it and forget it’, there’s really no excuse for anyone not to at least get started. If that’s where you stay, and that is optimal, at least you are investing for future you. I’ve found that the more I learn, the more opportunities there are, and inevitably there’s more to learn again! I enjoy that part of the journey to FI too.

      I see lots of people new to investing and FI try to nail down a perfect investment plan that is super optimized from day one. Which is great, but they sweat and stress about the minutia that really has little impact on their investments at the beginning. Get good at staying the course, riding the market volatility, learning more. Then gradually optimize and improve your returns if that’s your thing.


      1. To give credit where credit is due, I stole that parallel from Ramit Sethi. Simple will get you 85% there, now you and most listeners enjoy the fiddling around part, but for those who don’t, simple and consistent may be good enough.

  3. Good lively discussion boys. I am discovering a new phase: I call it the “I’m no longer in Canada and no longer have a full time T4 income” phase, where it’s harder to qualify for mortgages for real estate investing, and harder to sort out document signing with lawyers/notaries in order to do other more complex investments. This seems to be channeling me back toward the simplicity and hands-off nature of stock investing in a brokerage account. For the record I am still a Canadian resident….just travelling for a while.
    Money Mechanic….you lived abroad for a while. Any tips for this? Good higher-yielding investments where one can be a money partner without the headaches of having to see lawyers for documentation?
    The good news is: private lending through registered accounts still seems to be fairly straightforward….but outside of these accounts there seem to be more headaches.
    Your friendly neighbourhood Kevin.

    1. Hey Kevin,

      Unfortunately when I lived abroad I was un-educated in the investment world. I was just saving everything I could. You bring up a good point, and it isn’t discussed enough. What does happen when you don’t have a T4 anymore? Have you read Millionaire Ex-pat? It’s on my list, but I never seem to get around to it. I think you’re right though, sticking it all in VEQT or similar is just nice and simple to keep invested with minimal headache. Or use a dividend ETF to keep generating cash flow.


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