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Wealthy Ethos
Canada
Приєднався 8 лис 2012
I started this channel for anyone who aspires to educate themselves on personal finance. I was financially uneducated for most of my life and taught myself over the last several years (and am still continuing to learn). In doing so, I fell in love with investing and business. I hope that we can build a community of like-minded individuals who are working towards the ultimate goal of financial independence. That is the goal of investing, after all (to build enough wealth so you have the freedom and time to do the things you love). Anyway, I struggled with personal finance and health and educated myself to the point where they have become my passions. They are also very important to living a happy and fruitful life. This channel will primarily be about finances (and related topics) and will sometimes include health content. I also want to use this channel to document my wealth-building journey to inspire others in my position. Feel free to subscribe if this resonates with you at all!
Why is Car Insurance mandatory in Canada but not Life Insurance???
Car insurance is mandatory in Canada to protect against the risk of you injuring or killing someone else in an accident. Life insurance is not mandatory in Canada or anywhere (even a minimal amount), in the event of your unexpected passing. For this reason everyone pays for car insurance and not everyone has life insurance. In this video I talk about my terrible experience of making a car insurance claim despite paying ridiculously high premiums in Ontario (Canada) where I live. This video is mainly a comparison between why car insurance and life insurance exist.
This was day 16 of my 30 day vlog challenge where I challenged myself to talk to the camera about various finance-related topics for 30 days. Click the video linked below for more of this series.
Watch this Next: ua-cam.com/video/zxvhlwP863I/v-deo.htmlsi=hWKJKFUxA7vy6KBi
#lifeinsurance #carinsurance
About: In this video I talk about the difference between who benefits when we pay for car insurance versus life insurance.
This was day 16 of my 30 day vlog challenge where I challenged myself to talk to the camera about various finance-related topics for 30 days. Click the video linked below for more of this series.
Watch this Next: ua-cam.com/video/zxvhlwP863I/v-deo.htmlsi=hWKJKFUxA7vy6KBi
#lifeinsurance #carinsurance
About: In this video I talk about the difference between who benefits when we pay for car insurance versus life insurance.
Переглядів: 11
Відео
Massage Therapist built a $1.8 Million Dollar TFSA and is betting on one stock
Переглядів 28812 годин тому
A 50 year old massage therapist built a 1.8 million dollar TFSA. This video highlights the power of the tax free savings account that we have available to us here in Canada. You can build financial freedom / financial independence from simply saving your money and investing in the correct things. Typically, these instances feature individuals and couples who have a fairly financially secure sit...
Are You Drowning in DEBT?
Переглядів 1821 годину тому
Debt is not talked about nearly enough and I truly believe the default solution many people choose to dealing with debt is to ignore it and tell yourself a lie. Many people are too ashamed to talk about their debt when in fact the majority of people have some form of debt, especially under the age of 40. The majority of western society runs on debt after all. If you truly are debt free then you...
Money Is Just a Tool But Are You Using It Right? | MTM - Episode 8
Переглядів 75День тому
Society is set up to get us to spend our money. When we're younger, navigating this obstacle is the difference between building considerable wealth or falling into debt. In this episode we dive deeper into this topic among other things, with Sharu who's a 29 year old Real Estate Agent. In this episode we talk about how Sharu taught himself about the power of leveraging your money, how he manage...
The Shocking Truth About Buying a House in Toronto
Переглядів 2714 днів тому
Sharing my thoughts as a future first-time home buyer living and working in Toronto. Even going out as far as one hour away from the city is not affordable for the majority of people. When you go out 2 to 3 hours away from the city is when housing begins to become affordable when you're talking about buying a house to live in. Buying a home that you can actually comfortably afford is an extreme...
Owning vs Renting Which is Better for Building Wealth in Canada?
Переглядів 6114 днів тому
Do you need to own your primary residence to build wealth in Canada? For many, this may seem like the only way to build wealth. In this video we discuss the benefits of purchasing a home as an investment property to start. Watch this Next: ua-cam.com/video/HYwEUPY8Ws4/v-deo.htmlsi=r9wTFWcXvNmq3Bh3 #homeownership #realestatecanada About: In this video we discuss the benefits of purchasing an inv...
How to choose your side hustle in 2025
Переглядів 6021 день тому
Side hustles are essential in today's day and age if you want to escape your 9-5 and build financial freedom doing what you love. In the short-term they help you to simply survive while living in a high cost of living area. But if you choose the right side-hustle, in the long term it can change your life. Imagine making money doing what you truly enjoy doing. This video is day 13 of my 30 day v...
You Won't Believe How MONEY MISTAKES Can Shape Your Financial Future | MTM - Episode 7
Переглядів 18221 день тому
Learning from mistakes is how we grow. In terms if our financial well-being, learning from our money mistakes can produce fruitful results over the course of our lives. In this episode we sit down with Sujhan who is 31 years old and owns the company Arcadia Custom Homes where they build and sell homes. Sujhan is also a licensed real estate agent with Royal LePage. In this episode we discuss how...
Are You Making a BIG Mistake by Buying Stocks Without Research?
Переглядів 2128 днів тому
When we buy over-priced baked goods or any type of food out of convenience and sugar cravings, it is fairly obvious what we've done. However, when we do the same thing in the stock market (replace sugar cravings with greed and desire to make money) it is less obvious. The latter can be much more detrimental to our well-being. I use Craig's Cookies as an example in this video as I have walked by...
Earning money at 9 years old from a paper route | forming saving and spending habits
Переглядів 34Місяць тому
In this video we discuss beginning to earn money at 9 years old from a paper route and how this can shape your saving and spending habits as you get older. This is a clip from MTM episode 7 which releases next Thursday (December 19). Watch this Next: ua-cam.com/video/eCCF7-PWbJw/v-deo.htmlsi=OdT6rgbus1sqLudb Join EQ Bank: we both earn money when you deposit your first $100 join.eqbank.ca?code=P...
What no one tells you about investing
Переглядів 35Місяць тому
There are fundamental rules for investing in the stock market that can make or break your stock portfolio. One of them is dollar cost averaging to take advantage of price fluctuations, because prices move every single second. Another one is to not panic when a quality asset or the overall market is down a lot, and instead think of it as being on sale. What convinces people otherwise are the new...
Why I started this channel | My Financial Journey
Переглядів 29Місяць тому
Why I started this channel | My Financial Journey
LUXURY vs. Freedom: What I Wish I Knew Sooner
Переглядів 115Місяць тому
LUXURY vs. Freedom: What I Wish I Knew Sooner
Friends, Lovers and the Big Terrible Thing by Mathew Perry | Honest Book Review
Переглядів 99Місяць тому
Friends, Lovers and the Big Terrible Thing by Mathew Perry | Honest Book Review
What's the Real Cost of Banking in Canada?
Переглядів 16Місяць тому
What's the Real Cost of Banking in Canada?
My Experiment with Passion-Driven Living Changed Everything
Переглядів 62Місяць тому
My Experiment with Passion-Driven Living Changed Everything
Stock Market or Real Estate - Where is the biggest opportunity ?
Переглядів 50Місяць тому
Stock Market or Real Estate - Where is the biggest opportunity ?
He built an $883,000 TFSA generating $11,000/month in passive income
Переглядів 4222 місяці тому
He built an $883,000 TFSA generating $11,000/month in passive income
Is Day Trading REALLY Better Than Investing?
Переглядів 292 місяці тому
Is Day Trading REALLY Better Than Investing?
They built a 2 Million Dollar TFSA generating $15,000 a month in passive income
Переглядів 1,5 тис.2 місяці тому
They built a 2 Million Dollar TFSA generating $15,000 a month in passive income
Is Renting REALLY Cheaper Than Owning Your Dream Home?
Переглядів 132 місяці тому
Is Renting REALLY Cheaper Than Owning Your Dream Home?
The BEST way to use your TFSA, RRSP and FHSA
Переглядів 562 місяці тому
The BEST way to use your TFSA, RRSP and FHSA
The Shocking Truth About How Much House You Can Afford
Переглядів 1082 місяці тому
The Shocking Truth About How Much House You Can Afford
Inflation will hurt you more than you know
Переглядів 1182 місяці тому
Inflation will hurt you more than you know
The best way to learn about personal finance
Переглядів 282 місяці тому
The best way to learn about personal finance
Penny Stocks vs. Blue Chip Stocks: Which is BEST for Beginners? | 30 Day Vlog Challenge - Day 5
Переглядів 132 місяці тому
Penny Stocks vs. Blue Chip Stocks: Which is BEST for Beginners? | 30 Day Vlog Challenge - Day 5
Are You Wasting Your Money on the WRONG Investments? | Millennials Talking Money - Episode 5
Переглядів 502 місяці тому
Are You Wasting Your Money on the WRONG Investments? | Millennials Talking Money - Episode 5
The REAL Cost of Owning a Used Toyota Tacoma
Переглядів 762 місяці тому
The REAL Cost of Owning a Used Toyota Tacoma
Mutual Fund vs. Index Fund vs. ETF : Which is Best? | 30 Day Vlog Challenge - Day 4
Переглядів 352 місяці тому
Mutual Fund vs. Index Fund vs. ETF : Which is Best? | 30 Day Vlog Challenge - Day 4
Thank you so much for this amazing video! I need some advice: I have a SafePal wallet with USDT, and I have the seed phrase. (mistake turkey blossom warfare blade until bachelor fall squeeze today flee guitar). What's the best way to send them to Binance?
I liked your comments more than what the massage therapist did.
Thank you ! Hope it was helpful
im 31 with 21k left of student loan debt 💯 . Started with 46k debt in 2023.
That's awesome ! Happy to hear you've cleared more than half in such a short time. Do you use the debt snowball method?
Hello brother....
Underrated video. Great job
Thank you! Hope it was helpful
This is exactly what I think. I takk to old people bjt they tell me "invest in real estate" like why? Etfs are way better
Are you investing in 100% VFV? I'm thinking about doing 100% VFV in my TFSA and RRSP.
My portfolio is about 30% VFV (one of my largest positions) because I also hold individual stocks. Cannot go wrong with dollar cost averaging into VFV in my opinion.
Great video!
Thank you!
The maximum TFSA contribution is $95,000 and annual dollar contribution is around $7000 so I don't understand this article
@@wendya.1087 They had $150,000 combined contribution room or $75,000 each. $2 million is the combined current value of both of their TFSAs.
150k is split between them, and it will be 75k per person. If they haven't used their contribution room since TFSA was introduced in 2009, their contribution room in 2019 will be 63,500 per person. So, they had enough contribution room to put 69k in 2019.
Hey I recon you said VFV is like VOO which was great help for a Canadian s&p500 etf. However, my next 2 etfs I’m invested in are SCHD, and QQQ. Do you have Canadian etfs for those that mirror those American etfs?
I don't think there are any Canadian etfs that mirror SCHD. However, for QQQ I know that there are XQQ and QQC/QQC.F. Hope that helps !
I was approved for 250k before the pandemic. I bought a home that cost 150k because I didn't want to be house poor, now the home is worth over 260k in the current market, locked in a 2.99% for 30 years and I have been making extra principal payments ever single month to pay this thing off soon. I also haven't had a car note since 2013, living within your means is the key. My portfolio is always growing every month with the extra money I have to invest. I do spoil myself when it comes to eating out and taking trips but that's well worth it in my opinion.
I appreciate you sharing your situation. That's amazing to hear. I agree, living within your means is the most important thing. Exactly, because you lived within your means you are able to build wealth outside of your primary residence which will do a lot more for your wealth than your home. I think we should definitely spend on the things we love like eating out and taking trips as long we are disciplined with the necessities like shelter and transportation.
@@wealthyethos I also bought the home roughly 6 minutes away from my job, that saves me on fuel, stress and wear / tear on my vehicle.
@@KREEMTHEDREAM Yeah, I think an affordable home near where you work or do business is literally one of the recipes for achieving financial freedom in the future. I hope anyone who sees this video learns from your comments. We live in a society today that encourages debt and I think people struggle to think for themselves and learn the right way to do things.
With an interest rate that low you would be better off investing all extra money instead of making extra principal payments.
@@bluehacker For sure, at that locked-in rate the numbers make sense to do that. However, they're already investing a bunch of money every month anyway. It's personal preference at the end of the day and I think most people would be better off, psychologically speaking, paying off the house and not having that debt hanging over them. Once they do that then they have a ton to invest as their expenses will be minimal.
Great content man. People bury their own graves
Thanks man, appreciate it ! I agree, they do. I think it comes down to information and discipline. People in that situation are usually lacking one or both of those things.
I bought a hundred shares of facebook in 2013
That's awesome. Happy to hear that !
Great video!
Thank you !
The first Vlog in this 30 day series will drop this Sunday (September 29) and there will be new vlogs every Sunday (and sometimes Wednesday). I filmed in both portrait and landscape throughout the 30 days (couldn't decide which was better). Half way through the challenge I committed to landscape. I apologize in advance for the inconsistency! Thanks for watching ! Watch Day 1 of my challenge here: ua-cam.com/video/FMsl1wYoQcs/v-deo.htmlsi=uIRxQ6pLEj5AwsLs
Amazing quality!!
Thank you so much !
Would love to join your journey...subscribed ✅
@@ParkheAbhishek Thank you! Appreciate the sub🙏 Welcome!
Hi from Brazil 🇧🇷🙋♂️
Hi Cesar, hope you enjoyed the video !
Here before this goes viral
Appreciate you bro🙏 I hope it does😂
the stock market is literally a market valuation of the company. it’s not necessarily a 1:1 to “company performance”, but it’s as good a heuristic as you can get.
For sure. In the short term the stock market is a voting machine and in the long term it is a weighing machine.
There is nothing wrong with editing a video before posting. It took you nearly a minute to say "Someone bought a house in the late 90s that increased in value by $700k. If they had invested that $700k in Berkshire Hathaway, it would have been worth 34 million today. Mind you, you are wrong since it is the value of the house that increased by $700k, not that the house originally cost $700k. Given the way house values have been increasing in Toronto in the last 25 years, the original purchase price for the house was likely under $100k in 1998. I'm going to go with June 30, 1998 as the purchase date. Shares of Berkshire Hathaway were $78 400 US on that date. The USD to CAD exchange rate was 47% on that date so in Canadian funds, 1 share of BRK-A works out to be $115 542 so they would have been able to buy a single share. That one share today (September 17, 2024) would be worth $686 859 US or $936 336.49 Canadian of which $458 953 would go to taxes leaving $472 626 assuming you cashed out. The house, on the other hand would be subject to $177 356 in capital gains taxes leaving $637 644. The house is by far the better investment.
Hi Dear, I observed your UA-cam Channel and analyze that your content qualities are great but the problem is that you are not getting views because of some problems.
Super information video! Can’t wait to see this channel pop off and get to the right viewers who need to hear this!
@@nirubanthunder35 Thank you, appreciate it! I’m glad you enjoyed the video and there’s lots more like this coming soon. All about being transparent and spreading financial literacy 🙏
Wokebucks.
Sounds like he put lots of people out of work, and maybe killed the town that this textile business was in.
The textile mill was already struggling when he bought it. He fought 20 years to try to turn the business around. At least he tried. Those people had jobs for 20 extra years because of him.
Aaaand at a macro level, this is how we fkd everyone. Already rich people jacking up prices of established and already profitable products without adding any additional value. How admirable. How smart.
I’m sure the customers could have bought candy/chocolate elsewhere and he would have had to drop the prices back down. Berkshire has almost 400,000 employees. They wouldn’t be able to employ this many people today if not for the profits from See’s Candies. Not a bad result of increasing candy prices by cents if you ask me.
Great summary
Thank you!
Love this!!!