Mark McGrath @markmcgrathcfp.bsky.social · 24/11/2024media.tenor.coma man is sitting in a car and the word soon is on the screenALT: a man is sitting in a car and the word soon is on the screen 030
Mark McGrath @markmcgrathcfp.bsky.social · 22/11/2024Can happen, just need to own the right stocks ;) 100
Mark McGrath @markmcgrathcfp.bsky.social · 22/11/2024The 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. 2182
Mark McGrath @markmcgrathcfp.bsky.social · 21/11/2024There 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. 0172
Mark McGrath @markmcgrathcfp.bsky.social · 20/11/2024Canadian 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. 1223
Mark McGrath @markmcgrathcfp.bsky.social · 20/11/2024Of course, what if there are people on X that didn't see it! 010
Mark McGrath @markmcgrathcfp.bsky.social · 19/11/2024Often it's too much house, private school tuition, paid help at home, cars, and vacation properties. Though I had a client once whose hobby was collecting antique airplanes lol 020
Mark McGrath @markmcgrathcfp.bsky.social · 19/11/2024I'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. 3191
Mark McGrath @markmcgrathcfp.bsky.social · 18/11/2024Don't worry I still spell it wrong every single time 010
Mark McGrath @markmcgrathcfp.bsky.social · 18/11/2024Bingo. You want the best after-tax outcome, which doesn't always mean the least amount of taxes 210
Mark McGrath @markmcgrathcfp.bsky.social · 18/11/2024If 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. 5321
Mark McGrath @markmcgrathcfp.bsky.social · 13/11/2024It's a party now What's the vibe on dividends over here 230
