Edit- by "no better" I mean if I can get 80-100% of your content from a common source then I'm better sticking with the common source.
Edit- by "no better" I mean if I can get 80-100% of your content from a common source then I'm better sticking with the common source.
Oh boy have I ever. And not a word was retained. Total gibberish. No idea how I can code but not understand finance.
Honestly, I don't have the time to 'get into' finance beyond reading up a couple hours a week. Just need a simple guide, my only goal is to leave my money somewhere for 20 years and not touch it while it grows so I can make $20k/year off my investments eventually. Not looking to day trade or do any of that. Been looking at Canadian Couch Potato (I'm in Canada) and Mr Money Moustache.
I don't have any lofty aspirations. I only want this apartment to be paid off for free every month, at which point I'll have the freedom to wake up every day and do whatever I want.
However, if you really just want to park money for 20 years, you probably want a target year fund like [2] which will have higher risk now (stocks, REITs, etc), and rebalance to lower risk (Bonds) as it gets closer to 2040. It's literally the definition of set it and forget it.
[1] https://personal.vanguard.com/us/funds/snapshot?FundId=0123&...
[2] https://personal.vanguard.com/us/funds/snapshot?FundId=0696&...
edit: I should add, I'm not your financial advisor, and I don't have a fiduciary duty. You should consult with a financial advisor (who has a fiduciary duty) before making any decisions about investments. However, target year funds are frequently (one of) the best decisions for many people.
That's like, just my .02 though.
That said if investing doesn't interest you just use a Robo advisor like Wealth Simple (Toronto based). You will pay maybe 0.2% more in fees but your performance will be the same as the couch potato approach, and you'll never need to think about investing.
Then, come back in 20 years and upvote this. :)