The Ultimate Canadian Investment Guide For 2023
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- čas přidán 24. 07. 2024
- ➡️Fee For Service Planning: www.parallelwealth.com/planning
➡️BCV Asset Management: bcvassetmanagement.com/
➡️Taxtips website: www.taxtips.ca/
In this video we'll go through the best ways to invest in Canada in 2023. We'll look at specific accounts you should be using, as well as investment types that you may want to include in your portfolio. We'll also have on Chris Richard from BCV asset management to discuss alternative assets, which is becoming more accessible to the common investor.
If you have any further questions about this video's topic or any financial planning questions in general, I encourage you to find a certified financial planner in your area or book a consultation with us to get your retirement plan on track. You can learn more about our services at www.parallelwealth.com/planning
Financial Resources I personally recommend:
➡️Retirement Income for Life: Getting More without Saving More (Second Edition): amzn.to/3tvIdVN
➡️Parallel Wealth Masterclass: www.parallelwealth.com/education
➡️Future Value Calculator: amzn.to/3EA6Qqv
➡️Neo Mastercard - no annual fee and average 5% back! - join.neo.cc/parallelwealth
➡️Free Credit Report with Borrowell: bit.ly/borrowellPWFG
➡️Maximize your Savings with EQ Bank - bit.ly/EQBankPWFG
The above affiliate links are provided for your convenience. If you click on a link and end up purchasing a product or service, this channel may receive compensation for the referral. We have personal vetted each product and service we provide links to.
OUTLINE
0:00 - Intro
0:28 - RRSP
1:24 - TFSA
2:15 - Non-Registered Account
3:13 - RESP
4:33 - RDSP
6:03 - Investment Accounts vs. Types
6:40 - Stocks
7:35 - Mutual Funds
9:45 - ETF
11:18 - Real Estate
11:54 - Bonds
13:25 - Alternative Assets
This presentation is intended for information purposes only and does not constitute an offer to buy or sell our products or services nor is it intended as investment and/or financial advice on any subject matter. Every effort has been made to ensure the accuracy of its contents. Certain of the statements made may contain forward-looking statements, which involve known and unknown risk, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Returns are not guaranteed and past performance may not be repeated.
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DISCLAIMER: The videos and opinions on this channel are for informational and educational purposes only and do not constitute investment advice. Adam Bornn is not registered to provide investment advice and as such does not provide recommendations - those looking for investment advice should seek out a registered professional. Adam is not responsible for investment actions taken by viewers and his content should not be used as a basis for investment trades.
#recession
I’m down $137k this year, scared my bank or brokerage will fail. Savings are dwindling due to high prices and debt.
Government stimulus helped Americans save, but I don't expect this trend to continue.
Pandemic savings are gone for middle and low-income families. My trading skills need improvement.
Desiree Ruth Hoffman, my market strategist, says the S&P 500's drop clears a path for a rally. She’s a great resource.
Who is Desiree Ruth Hoffman? We need help organizing our finances for next year.
Plan properly or consult a seasoned professional with a good track record like Desiree.
If you want to be a millionaire in Canada, start with a billion.
Hard working people should just work and die poor:)
Start with the last name Trudeau....
😅😅😅😂😂exactly 😮
Tks sir Richard Branson
Excellent insights, especially for those who are new to investment world and wants to start. Thanks
Damn I think you have one of the best finance channels for Canada! Your videos are well structured and everything is explained so clearly!
Thanks Robert. Appreciate the kind words. Thanks for watching
Bringing on guests with different specialties and technical knowledge (on different products) to contribute on the channel really does add great value to your viewers and says plenty about your honesty and integrity! Thanks Adam!
Our pleasure!
Useful and simple talk!!
Your channel is an inspiration to me! Keep sharing your interesting and useful posts."
Thank you! Will do!
Can you cover canadian espp accounts? I work for CP rail and we get up to 6% matched contributions but im wondering if its more efficient to withdraw stocks every couple of years to invest in better returning stocks but im gonna be hit with a ton of weird capitol gain taxes
@Olivia
This is wonderful please Olivia i will also like to be part of this movement so tell me is ROCHELLE DUNGCA-SCHREIBER on youtube? please how do i reach her!
@Olivia
Thank you so much I was able to find her page and I already leave her a message. so happy i came here to see this thank you once again Olivia!!
I've recently thought about working for CP rail. I would be really grateful if you told me what that's like.
You’re already in the 1% sir, great company to work for
Hi Adam, first off, really appreciate you taking the time to publish your videos as my partner and I have found them extremely valuable. We are always excited when a new vid drops. There is always something valuable I pick up when viewing. We are following your advice and feel we are in good shape however we are 7 years out till retirement so most definitely will be setting up a plan with you in a couple of years. Thx again sir!
Thanks Kyle. Here to help when the time is right on your end.
This is a good vid to watch to set up for the strategy Parallel Wealth phone call scheduled soon👍☺
Thank you, Adam, for your videos - you are so clear in your explanations, which is truly appreciated! Very helpful for someone who is pretty much financially illiterate. I am learning. Will try to get my 2 young adult children to watch your videos, as well.
Thank you! Glad they are helping out!
🤗🥰☺@@ParallelWealth
@@ParallelWealthalso, I did subscribe and hopefully my kids will as well.
Great content. Thank you.
Glad you enjoyed it!
ty so much
Is it advisable to utilize a Tax-Free Savings Account (TFSA) for engaging in option trading?
You explained all the investment type so well! I didn’t realize there were so many different types of ETFs available now even tracking vegan lifestyles. Now I feel old lol 👏👏
Glad it was helpful!
I learned about a pretty good business model, and I think you might be suitable to do this mall promotion project as well. I have a friend who is a MetaSport executive, would you be interested in learning more about it?
Great videos generally but this one didn't work for me. The alternative investing portion felt like a information lite sales pitch. My guess is with high fees too
Why there is FHSA account in the list? Is it not much needed?
😎Good. I travel full time while trading stock options. My video brought me to this video.
Good info on Canadian market.
I am trying to figure out the new FHSA right now. Looking forward to finding more information about it.
Something I never see these channels mention are the difference between putting US stocks in RSP compared to TFSA.. mainly the fact that its only stocks that pay dividends that are subject to US withholding tax.. stocks that dont, are not. This is a VERY big deal yet I almost never see it talked about.
Typically this would come for a portfolio manager, not a financial planner. That said. It's part of the planning process wetale with our ongoing clients - and a conversation most should have with their investment advisor.
Do we have Index Funds in Canada . ? Warren Buffett recommends these funds in the US .
Vanguard Canadá
Thank you for another great video! Given that bcv multi-strategy alternative fund was featured in this segment, could you please provide a link to the fund's SEDAR fund fact, or a prospectus? I am not seeing it on the BVC website.
You can email them directly for this. Contact info on their website.
People freak out when I tell them this but I am all in on Tesla. Every spare dime I have I put only in TSLA and keep them in my RSP and TFSA. I understand the risk... this could bite me in a very very bad way but I'm still doing it. If things go the way I believe they will with tesla I will be a multi-millionaire in 10 years.... if things dont go as planned I will lose a load of money and all I will have is my pension.
I wish you the best but what you’re doing isn’t so different than gambling your entire wealth at a casino.
Thanks!
Do you receive commissions on the sale of BCV Asset Management investments to your clients and/or on referrals to that firm? If so, what is that commission?
Don, we charge fees for our planning services. BCV charges separate fees for their investment services.
Best would be a simple yes or no?
Question as a new Canadian investor if I purchase class B stock of Berkshire in my Canadian tfsa is that fine or will I need to pay something because it’s in a American dollars
That's not an investment I have every owned, but take note that America does not recognize your TFSA as tax free, so there may be some details that are lost on me..... I treat this by saying, any time the US government would impose withholding tax on my non-registered (standard cash) account. That same thing will apply if I have it in my TFSA. The US does recognize your RRSP as tax free so it will be different.
Better to keep US stocks in RRSP
This might be a little late, but you only pay a withholding tax on US dividends, because dividends are pre-tax income from the company and the US government will want a piece of it. I have transferred and sold US stocks in my TFSA and not have not had any issues
Any thoughts on a GIC in 2023? Im currently looking at a 3.35% for a 100 day term. Does this seem like a good investment?
Ed, we have seem lots of changes lately. If we get one more raise we may see better rates a little longer, but really a crystal ball on this one. Pick a rate you are happy with and don't look back - especially on a short term like this.
There's one for 5.25%
TFSA is a gift... Yet I know so many people who have not opened one.
TFSA-Tax Free Savings Account should be renamed to Tax-Free Investment Account.
Leaving your TFSA as a savings account is ok, but investing can make you large gains, including dividends.
Nothing is for free😊 don’t be naïve
@@fabio1671
Naive? TFSA-Tax Free Saving Account
Free is in the name genius! So you never opend a TFSA huh? Your loss...
@@fabio1671 dumb thing to say
I buy RESP for my son, and my son just 10 yrs.
But I buy RESP with mutual fund and every month is money losing a little bit because economy is going down right now.
Do we have another way to buy RESP but link with GIC ( for guarantee for my son money) doesn’t loose.
Now RESP money is going up and down .
Thank you,
It's going down right now but think about it like the mutual fund is ON SALE. Later it will increase much faster than a GIC and once the mutual fund is doing well, each unit will cost more than it does now to buy
hey guys, I don't know anything about investing and I'm looking to invest, any help? As well who can I reach out to?
Vanguard Canada is good
Hi, what are your investment goals, risk tolerance?
14 million Canadians have TFSA accounts and 10% of this population have maxed out their TFSA contribution. 65.5% Canadians have RRSP but don't know how many have maxed out with RRSP contribution.
I learned about a pretty good business model, and I think you might be suitable to do this mall promotion project as well. I have a friend who is a MetaSport executive, would you be interested in learning more about it?
Yes I'm shocked by that. Should be the other way around. Also most peoples TSFA'S have gone down in value from native read.
Move to a low tax country, declare non residency then move back to Canada once you've earned millions. Hundreds of thousands of non resident Canadians have done it and many that retire don't even want to return as they have an option to retire in countries with warm climate via a Golden Visa.
Hey would I be able to contact you to discuss investing, I am in a position in life right now where I need some help.
Yes, email info@parallelwealth.com
Only flip real estate in Canada and live in Thailand hahaha - NO to COLD PLACES
That's actually a great plan. The perks of being a world citizen! Do it! Have fun!
I hate the word “tax”
You have it all
Just work on a trudeau government contract.
Art....what about purchasing art...great investment
Do your homework
Adam, forwarded this to my cousin in her early 50"s. Hopefully she will look at it. She knows very little at this point and this is an excellent base for her to start from to start learning....if she chooses. Thank you Adam!💯🇨🇦
About 30 years late but whatever boomer....
That’s not wealth man that’s just getting by comfortably. If you a millionaire u don’t need rrsp that’s just a savings account for people with poor will power! Inflation will eat that up.
Only if you use it as a savings account and not as an investment account
@@dylantemperton lol investment account? You make investments you won’t have an account for it unless it’s pooling and if it is inflations eating at it. Inflation eats at your investments as well you just have to make
More every year.
Wow. Nothing on split funds, income funds or covered calls stocks. Don't understand how you can talk about "cashflow" ? Bonds and mutual funds generating 7-9% ? LOL
a one way ticket out.
Hey Adam, thanks for the video. Can you please teach me how to calculate the following? I have $700k saved and I spend $40k/year. I have the money returning 3% interest. How long will that money last? Thanks!
If you bought $700K of Enbridge, it would pay you $45000/yr and you'd never run out. The same investment in HYLD would yield about $90k/yr in dividend income and again, you'd never deplete your initial investment.
@@ptsb5a I love HCAL HTA HDIV HYLD and these help me defer my db cpp oas easily to 68. It also covers my trip to Patagonia and Galapagos.
@@OptimisticHominid I'm not in any position to give advice. Just examples of what could be.
Are natural resource stocks like enbridge not under attack on a global scale today,along with oil,gas?Are they still a safe area to invest?
Nice content, but trading come with a lot of benefits And I have just bought my first house through it. As a beginner, I was scared of losing my savings but I’m glad I took the bold step that is now favoring me.
As a beginner, it's essential for you to have a mentor to keep you accountable. I'm guided by a widely known crypto professional.
I'm guided by Geralyn Bertha
Just don't buy shares in TSX.V companies. Especially mining in Canada.
May I ask why? I currently have shares in E3 Lithium ETL
I learned about a pretty good business model, and I think you might be suitable to do this mall promotion project as well. I have a friend who is a MetaSport executive, would you be interested in learning more about it?
Step one , leave Canada.
Thanks for keeping us financially Educated!
Regardless of how bad it gets on the economy, I still made over $35k with my starting capital of $10k this year.
Hannahdearie22
Nice content, but trading come with a lot of benefits And I have just bought my first house through it. As a beginner, I was scared of losing my savings but I'm glad I took the bold step that is now favoring me.😊