Hey Senile @Joe !!!!!!!!
Remember to deposit $7,000 into your TFSA if you have not already done it for 2025!!
I got a slow start in the TFSA because I was paying off my mortgage and that was my focus, but have since caught up in contributions.
Wondering where your TFSA sits....have you hit the $200K mark yet?
I have not....but my wife has....which means she has been better at picking the investments than me....or at least
luckier!!!
Actually I'm in the process of putting an initial investment of $100,000 inta the TFSA Lex
@The Prowler.
And eventually adding another $100,000 into other investments/tax shelters
Trouble is...the stock markets seem very unstable & shaky these days doncha think?
I'm reluctant to invest in anything in atm.
I'm all in cash right now.
What would you suggest Prowler?
How about something safe? Like Canadian Utilities? Telus? Loblaw's? RBC? Barricks
Maybe just GIC's or money market?
I bought gold & precious metals last year and now it's worth over $100,000.
It jumped 30%. But I got lucky eh. I didn't know what I was doing & figgered at the time, if it didn't go up I'd just sell it this year. But it went up. Actually I just followed YouTube videos which forecast the rise in in Gold & Silver. So I said, what they heck, give er a whirl. Same time, I'm aware that there are limitations about buying just physical gold. It was just an experiment & I just wanted to see what it'd do & respond to market pressures. At least I didn't lose my shirt, eh?
Anyways, something tells me that commodities will be the place ta be this decade.
History shows that whenever the economy is slow, the money goes into oil or mineral exporation
This happened during the Great Depression when the oil companies drilled in Texas, Oklahoma and the Middle East
And Gold, minerals shot up during the 1970s which was accompanied by hyperinflation which we will all likely experience this decade. Having lived through the 1970s, somehow I think this decade is a repeat of the 70s.
But like back then, we'll likely see some kind of boom and then a correction or bust by 2030 or the early part of next decade.
Anyway as you say, investing is luck or gambling. People should wipe off the veneer & accept that fact
That way they don't get caught up in the hype just like them folk who lost a chunk of change on NVIDIA today, eh?
I suspect we might see a further correction in the markets later this year. The general consensus seems to be worldwide that the economy sucks these days.
