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Investment advice

You should check out and ask the same question on the forum at www.finiki.org and canadianmoneyforum.com

If I was in his position I would find an advisor who charges a flat fee for a consultation and maybe you can give your a friend a hand putting the plan that's laid out into motion. I'd avoid advisors who work on commissions and likely to just put your friend into mutual funds with high management fees. Like mentioned ETF's are very similar with much lower fees.

Vanguard offers one one stop shopping ETF's as of this year that track the U.S., Canadian and rest of world indexs with fixed income built in.

Like mentioned the big thing is structuring how much to put into certain registered accounts and then what to do with the left over.

One last thing. I'm a nobody and my crystal ball doesn't work so great, with that said I personally wouldn't put a large lump sum like that into the market at one time right now. We're 9 years in a bull run and at some point something has to give. If the market tanked your friend wouldn't be able to average down that effectively with regular contributions and might not handle seeing his investment drop say 20 to 40 percent. I'd want to spread out how I invested that money over the next couple years. Again I could be completely wrong but it's a question to think about.
 
A friend just inherited a couple of hundred grand and it's going to be his RRSP in one form or another. He is dyslexic and looking for advice so something / someone with an easy to understand plan. Any recommendations for a guru?
Buy land and improve it

... such as add water hydro and septic and poof you have a trailer park :I
 
So your friend inherited a substantial amount of money and you said to him "hang on, I'll go on my internet motorcycle forum and ask a bunch of strangers for investment advice?"
Excellent strategy!
It's been working for me ever since I joined up here.
I was making minimum wage when I started here.
Now I'm on top of the world!
 
Please have him read The Wealthy Barber if he has not already. Then The Richest Man In Babylon and some of the other great primer sort of books.

He really needs to get a handle on dangerous things like negative equity etc. I have seen people blow through hundreds of thousands in inheritance in a year or so. If he is smart with that money it will be a nice benefit for him in later years.

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He doesn't like to read.... But The Wealthy Barber is an excellent start.

I'm gonna check out the Babylon book, thanks for the tip.

@Nobbie48 I like CCs advice (which has been echoed) as well as the tfsa contribution.

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Please have him read The Wealthy Barber if he has not already. Then The Richest Man In Babylon and some of the other great primer sort of books.

He really needs to get a handle on dangerous things like negative equity etc. I have seen people blow through hundreds of thousands in inheritance in a year or so. If he is smart with that money it will be a nice benefit for him in later years.

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Dyslexia is A CONDITION WHEREBY THE PERSON HAS A PROBLEM WITH READING. As mentioned before.
 
Dyslexia is A CONDITION WHEREBY THE PERSON HAS A PROBLEM WITH READING. As mentioned before.

The wealthy barber is popular enough that an audio book will exist. Wouldn't be surprised if everything was available as an audio book now (or worst-case, a computer can read the ebook aloud).
 
original post contains insufficient detail to offer any useful advice
variables are his age, current net worth, debt load, real estate situation
expected age of retirement, desired life style, family situation
if he has no idea, he needs professional advice
 
Understood. Just trying to help.

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You have to know him. He's a really decent honest person and his small ship has finally come in but he reads on a grade three level. He is very good at other things but comprehension isn't one of them. Owns a small house and no mortgage or debts. Modest income and watches the pennies. Reading a prospectus would have him sweating blood.

He is OK with basic math, understanding that you can't spend more than you make.

One spin off of dyslexia is that the lack of understanding sometimes makes the person hesitate making decisions....procrastinate.

RE asking such a question on a motorcycle forum? Would he be better off asking a politician?
 
Understood. And I need to understand the meaning of Dyslexia better.

Sounds like a great guy and he needs to be hooked up with a good professional that he can trust and will stick with. They are out there.

It is good that you are looking out for him and trying to help him make some good sound decisions.

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Sir Richard Branson is apparently dyslexic. In high school his guidance councilor wanted him to train as a carpet layer so he could earn a living. His parents said no way and instead he became a billionaire. Dyslexic doesn't mean stupid.

It's also a dumb name to give to someone who has trouble reading.
 
dyslexia also is wide ranging spectrum
I have it
only observable symptom is regularly putting characters down backwards
some people are affected at a much deeper level where they have trouble disseminating information
 
dyslexia also is wide ranging spectrum
I have it
only observable symptom is regularly putting characters down backwards
some people are affected at a much deeper level where they have trouble disseminating information

I sometimes get my mords wixed.
 
Skier meets another guy on the ski hill

"Hey, it's a great day to go zag zigging down the slopes isn't it?"
"Come again" says the first guy.
"Zag zigging down the slopes...nothing like it"
"I think you mean zig zagging" says the first guy
"Are you sure?"
"Yes, I'm a taboganist" says the first guy
"Can I have 20 Marlboro please?"
 
So your friend inherited a substantial amount of money and you said to him "hang on, I'll go on my internet motorcycle forum and ask a bunch of strangers for investment advice?"
Excellent strategy!

You never know where that useful tip or when information will present itself. But keep on, I am sure your attitude will work out for you.


Sent from the moon!
 
A little off topic, but has anyone here tried lending loop? It's basically a business loan brokerage. I've been investing over the last 6 months, but the loans are 3 to 4 years, so it's too soon to personally know how safe they are

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My business is partly backed by a private lender.. someone on this board. It operates more like a LOC than a term loan. We're paying 15% to our 'lender'...
 
So your friend inherited a substantial amount of money and you said to him "hang on, I'll go on my internet motorcycle forum and ask a bunch of strangers for investment advice?"
Excellent strategy!

Gonna echo how retarded this idea was lol

OP, I've read The Intelligent Investor, Millionaire Teacher, and invested my OSAP 10 years ago in order to get into this sport.

You do not want to take advice from anyone here. You also do not want to take advice from any "financial advisor" (they are salesmen, not advisors.) I strongly recommend educating and doing it yourself.
 
油井緋色;2588977 said:
You do not want to take advice from anyone here. You also do not want to take advice from any "financial advisor" (they are salesmen, not advisors.) I strongly recommend educating and doing it yourself.

Trying to figure this out, your advice is not to take advice from anyone here etc, soooooo how should someone take that advice.....
I'm just being an idiot. :lmao:
 
Trying to figure this out, your advice is not to take advice from anyone here etc, soooooo how should someone take that advice.....
I'm just being an idiot. :lmao:

You're not actually, it actually applies to me too lol

I have a buddy that trades as well and we both repeatedly tell each other to not take advice from each other.
 

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