Investing Made Easy
Growing Your Money Doesn’t Have to Be Complicated
When most people think of investing they think of guys with too much product in their hair, who wear nice suits, make millions of dollars and stare at boring/complicated graphs on computer screens all day.
Or perhaps, if you’re a young adult, you might associate investing with stock market crashes and the panic that they cause – that’s what the media prefers to report on after all.
At best, most Canadians see “investing” as something they talk about with their “bank person” once or twice a year (usually during “RRSP season”) and as a sort of arcane magic/black box that they could never hope to understand.
All of these ideas are terribly inaccurate and likely Do NOT pertain to you at all. Investing is simply the act of taking your money and making it work for you. There are many ways to do that and – like many topics – there are an infinite amount of details to be debated if one wants to split hairs in order to show how smart or well-read they are.
The truth is that investing for most people should be very very simple. Our FREE eBook’s subtitle is “Low Maintenance and Stellar Returns”. In it, you’ll find the exact investing portfolio that I use and why I use it. The book takes about 20 minutes to read through, and I’m sure that by the end I’ll have convinced you that investing does not need to be difficult or time consuming. I honestly spend maybe a half-hour every few months checking my investments – and that’s it! It’s called “passive investing” or “couch potato investing” for a reason.
Canadians pay the highest fees to financial advisors in the world through hidden mutual fund costs. By learning a few small pieces of terminology, and reading a few articles on the tools that we use, anyone can become a DIY investor and learn to control their own financial fate, instead of leaving it in the hands of people who might not have their best interests at heart.
All people need to succeed as an investor is basic grade nine math (honestly, most of it is just basic ratios and percentages, it’s no more complicated than understanding hockey players plus/minus numbers or a goalie’s save percentage) and a willingness to ask questions when we don’t know something. For some reason talking about money and investments is taboo, and very few teachers have any idea about this stuff, so we’re never really exposed to any natural learning opportunities. This information imbalance is massively exploited to the tune of hundreds of billion dollars every year in Canada.
Don’t be that person that is afraid to ask a question for fear of looking dumb! Let us help you Keep It Simple and Stellar (KISS).
To wrap up our tour of the top robo advisors in Canada (see our Ultimate Guide to Canada’s Robo Advisors for more information), we thought we’d take a look at the first entrant into the Canadian market and one the market leaders in Canada with our Nest Wealth Review....read more
Congratulations! If you're considering opening a Questrade discount brokerage account, you have have likely managed to get a handle on your personal finances and are now ready to put your money to work for you. Read our in-depth Questrade review below and take...read more
“We're on a mission to bring smarter financial services to everybody, regardless of age or net worth.” - Michael Katchen, CEO If you'd like to try their services for free after reading our Wealthsimple Review simply click here to take advantage of our exclusive...read more
If you have been living under a rock (aka, not tuning into regularly scheduled programming here at Y&T), you have probably not heard of robo advisors before. Well, robo advisors are definitely here to stay and are moving and shaking the financial world by merging...read more
To be honest I have not heard of Invisor, but that's probably because I don't live in Ontario, where Invisor is founded. Other than autocorrect trying to change Invisor to Incisor (you know the front teeth used to tear the food that we put into our mouths), Invisor...read more
Perhaps in the next 10-20 years big bank financial advisors (aka mutual fund salespeople) will become a thing of the past with the fintech explosion and millennial uptake of robo advisors becoming the go to resources for retirement planning. Young and Thrifty...read more
Now that customers have had a chance to take a bite of out Tangerine for a few years, we thought we’d revisit our initial review of the online bank and see if they’ve lived up to their promises. The best place to see how Tangerine stacks up against its online-only...read more
One of the most common questions that we’re asked after people read our free eBook on DIY index investing using ETFs is: “Ok, so I know what sort of asset allocation is appropriate for me and I’ve decided what ETFs I want to buy, but which ones belong in my RRSP, and...read more
As you probably know, Robo Advisors are becoming very popular as a way to use index investing without having to do all the DIY research yourself. Young and Thrifty recently did a Complete Guide to Canada's Robo Advisors and we know there are many Robo Advisor options...read more
To add on to the Complete Guide to Canada's Rob Advisors, here at Young and Thrifty, we would like to take a closer look at the big robo advisor companies in Canada. To start, we're checking out ModernAdvisor, which is one of the new kids on the block. There are a...read more