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Mark McGrath

@markmcgrathcfp.bsky.social
948 followers 51 following 18 posts
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Mark McGrath @markmcgrathcfp.bsky.social · 22/11/2024
The idea that 30-50 stocks gives you enough diversification misses an important point. Returns come from a handful of stocks, and most stocks are dogs. You reduce risk by owning 30-50 stocks. But you are likely to miss the stocks that drive the whole market higher.
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Mark McGrath @markmcgrathcfp.bsky.social · 21/11/2024
There are 3 essential ingredients to building wealth. 1. A decent savings rate 2. Reasonable investment returns 3. Time You have the most control over #1. Focus on that.
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Mark McGrath @markmcgrathcfp.bsky.social · 20/11/2024
Canadian Pension Plan (CPP) is a hedge against: 1. Inflation 2. Unlucky sequence of returns in retirement 3. Longevity It's like insurance. If those risks show up, you'll be glad to have it.
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Mark McGrath @markmcgrathcfp.bsky.social · 19/11/2024
I've had clients earning over $1,000,000 per year break down crying in my office. Why? They didn't know where their money was going. Increasing your income won't help if you can't get a handle on your expenses.
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Mark McGrath @markmcgrathcfp.bsky.social · 18/11/2024
If you want to pay less tax: Make less money and keep what you have under your mattress. Less income = less taxes. You're welcome. Follow me for more great tax tips.
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