Thanks for being so transparent! One question I have for you , how is the company you invested in doing today ?.Are they still in business and what is the price of their shares ? I did the same thing , that is invested in the stock market via my 401k . During a period ,I lost $80,000 in less than a week ! I was about to withdraw all my money when fortunately I got talking to one of my white co workers . She told me not to withdraw the money and to continue with the automatic investment in the 401k. I decided to trust her and continued investing.. Well within 2 years I had gained back all my losses plus much more , the price of the stocks had rebounded !! One lesson I have learnt over 20 years of investing , is the stock market goes up and down . Never ever sell when the market is DOWN because it always goes back up!! Preferentially avoid buying individual stock and focus on mutual funds and index funds ! That's my 2 cents !
Great 2 cents! That company no longer exists. It was bought out by another one, and the stock price recovered but not to the price i bought it at. So, I guess you could say it was a good thing to bail out when I did. However, you are right about not panicking to sell when prices drop, especially if the fundamentals of the company is good. Like I said, it is a long game, and you need to be able to play it that way. I am happy for you that you did not sell. Thank you so much for watching and sharing!
You are very brave to admit to these mistakes. Most people pretend they are perfect. You have an intelligence and generosity of spirit that shines through in your videos.
Thank you so much! We live to learn, and I really hope that we can all learn from other people's mistakes so that we don't make the same ones. I appreciate you watching🙏🏾
Very good advice. Investing is nice but you have to know what you are doing. One thing I have learnt (among many things) is that: nobody cares about your financial situation more than you. You have to be vigilant. I have lived in the US as long as you have lived in Canada. We live & learn. Thank you.
Be vigilant! I love that and it is so true. We have to guard our finances to make sure it is intact. Thank you so much for sharing. We thank God for keeping us for so long in our current countries🙏🏾. I really appreciate you watching!
Thanks for sharing! One thing I have always told myself on investing is invest in what I have good amount of control over or invest money that you won’t get upset if it goes south
That part you mentioned “they explained to you and you did not understand”… honestly you are so apt. I don’t understand most of this investment and how it works, which is why I am just on the observation lane for any investment here for now. I have learnt a lot from this story you shared. Thank you for sharing ma.
My dear, you have to understand o before parting with your money. There are many resources to help, it's just that sometimes we are lazy and also want things too quickly.
We live to learn. I hope you are able to get out of the situation soon and the next time around will be a rewarding experience. I appreciate you watching. Thank you!
Thank you very much! I have learned from people around me who I observe are successful in this area and have also done a lot of reading/research on my own. There are courses (some may even be free) on platforms like Udemy, coursera, etc. but make sure the course is focused on the country you want to invest in. All the best with learning🙂
Educative ma but can you please do a video on life insurance which one is better because there are a lot of insurance agents and 10 terms,20 terms or permanent one I just want to know which one is the best ma thank you 🙏
I am not very familiar with the process as it had been a long time for me. But there are many youtubers that talk about it. You can follow the process yourself without having to pay anyone. Start by going to the immigration and citizenship Canada website. Do your own research. I wish you all the best with your plans. Thanks for watching!
Hmmmm. The desire to jump up the ladder after arriving in this country has also burned me. On paper, these so-called experts will make it sound good until you have committed your self by signing the agreement forms. It makes it difficult to trust most of these financial planners etc. as they never tell you that you can lose all of your investments. Back home, it is called 419 and in the advanced world it is called…..
I think it is called a scam 🙂. Definitely, slow and steady wins the race. We need to look very carefully before we leap. We live to learn. I hope you have recovered. Thank you so much for watching and sharing!
@@ThisSideOfLifeWisdom I agree with you. Slow and steady wins. Your channel has been a blessing to me and hope it has been to others also. Especially most of us immigrants who are always caught between two worlds and trying to live in both. God bless you for the contents you share with us.
Affinity fraud...first time hearing it. Sorry about the stocks. Definitely there's no sentiment when it comes to money issues. Diversification is key, not just in stocks. Applicable in where you put your retirement money also. Most just concentrate on 401k, can't recall the Canadian equivalent. You cannot dabble into anything without understanding how it works. Thank you for sharing.
Thanks for being so transparent! One question I have for you , how is the company you invested in doing today ?.Are they still in business and what is the price of their shares ? I did the same thing , that is invested in the stock market via my 401k . During a period ,I lost $80,000 in less than a week ! I was about to withdraw all my money when fortunately I got talking to one of my white co workers . She told me not to withdraw the money and to continue with the automatic investment in the 401k. I decided to trust her and continued investing.. Well within 2 years I had gained back all my losses plus much more , the price of the stocks had rebounded !! One lesson I have learnt over 20 years of investing , is the stock market goes up and down . Never ever sell when the market is DOWN because it always goes back up!! Preferentially avoid buying individual stock and focus on mutual funds and index funds ! That's my 2 cents !
Great 2 cents! That company no longer exists. It was bought out by another one, and the stock price recovered but not to the price i bought it at. So, I guess you could say it was a good thing to bail out when I did. However, you are right about not panicking to sell when prices drop, especially if the fundamentals of the company is good. Like I said, it is a long game, and you need to be able to play it that way. I am happy for you that you did not sell. Thank you so much for watching and sharing!
You are very brave to admit to these mistakes. Most people pretend they are perfect. You have an intelligence and generosity of spirit that shines through in your videos.
Thank you so much! We live to learn, and I really hope that we can all learn from other people's mistakes so that we don't make the same ones. I appreciate you watching🙏🏾
Very good advice. Investing is nice but you have to know what you are doing. One thing I have learnt (among many things) is that: nobody cares about your financial situation more than you. You have to be vigilant. I have lived in the US as long as you have lived in Canada. We live & learn. Thank you.
Be vigilant! I love that and it is so true. We have to guard our finances to make sure it is intact. Thank you so much for sharing. We thank God for keeping us for so long in our current countries🙏🏾. I really appreciate you watching!
It is crucial to only invest in what we have full understanding of.
Very true! Thanks for watching!
Thank you for the short and precise description of your epic financial mistakes and lessons learned. It is very educative.❤
Glad you enjoyed it! Thank you for watching!
Thanks for sharing! One thing I have always told myself on investing is invest in what I have good amount of control over or invest money that you won’t get upset if it goes south
Yes, you do have to take some risk sometimes, but they have to be calculated risks. Thanks for watching!
100% right advise.
Thanks Iyami
Thank you! I appreciate you!
I think,this is one of the best video you have made, very informative and educating, i love it❤
@@preciousrapheal5038 Thank you so much! I am glad you found it valuable. I appreciate you watching and commenting!
Good financial advice and well thought out and delivered. Cheers
I appreciate the feedback. Thank you so much for watching!
Oh my God 😮😢
Thanks for sharing
Thanks for watching!❤️
Your videos are educating and calming ❤
Thank you so much!❤️
Thanks Mom for sharing your experience with us
Thank you!🙏🏾
Very apt and very enlightening!!!!
Thank you! 🙏🏾
I got really burnt, too. I am glad I am back on my feet.
Really? I am glad that you are back on your feet. What happened? CRA, stock market, or real estate? Thanks for watching!
@ThisSideOfLifeWisdom It was a crypto scam. The name of the scam group is Rezeve.
@@ThisSideOfLifeWisdom Crypto Scam
I'm looking forward to the real estate investment video and the numbers we have to look at before investing in it
I have that video on my list. Please stay tuned to the channel! Thanks for watching!
I can’t wait for the real estate that did well video ❤!
Stay tuned! Thanks, Ginika!
Thank you maam for this video
You are most welcome. Thank you so much for watching!
Thank you.
Thank you🙏🏾
Wow I can't believe that such things can happened in Canada.
Scams are everywhere. We all need to be vigilant. Thanks for watching!
Thanks for sharing
Thank you for watching!
That part you mentioned “they explained to you and you did not understand”… honestly you are so apt. I don’t understand most of this investment and how it works, which is why I am just on the observation lane for any investment here for now.
I have learnt a lot from this story you shared. Thank you for sharing ma.
My dear, you have to understand o before parting with your money. There are many resources to help, it's just that sometimes we are lazy and also want things too quickly.
Wealth of wisdom.
Thank you!❤️
We are currently in one money mistake. We did not scrutinize our cash flows before investing in a rental property. We are hoping to get out soon.
We live to learn. I hope you are able to get out of the situation soon and the next time around will be a rewarding experience. I appreciate you watching. Thank you!
Awesome channel. It's always so educative. What kind of experienced people can I learn from regarding real estate investment
Thank you very much! I have learned from people around me who I observe are successful in this area and have also done a lot of reading/research on my own. There are courses (some may even be free) on platforms like Udemy, coursera, etc. but make sure the course is focused on the country you want to invest in.
All the best with learning🙂
I took all the lessons. Mine was MMM
I learnt one cannot rob Peter to pay Paul
A lot of those multi-level marketing schemes abound, too, and they target new comers. So beware!
We want a full video exposition of Epic 3
Ok o 🙂. Stay tuned. Thanks for watching Niran!
Educative ma but can you please do a video on life insurance which one is better because there are a lot of insurance agents and 10 terms,20 terms or permanent one I just want to know which one is the best ma thank you 🙏
I have the topic of insurance on my list. Please stay tuned. Thanks so much for watching!
Don't ever do permanent life. Don't fall for smooth talking life insurance agents.
Oops did you request for the interet to be waived?
By CRA? They don't waive interest o🙂
I really want to migrate to Canana and l don't want to be scammed. There are lots of scammers everywhere. Pls help me on how to go about it.
I am not very familiar with the process as it had been a long time for me. But there are many youtubers that talk about it. You can follow the process yourself without having to pay anyone. Start by going to the immigration and citizenship Canada website. Do your own research. I wish you all the best with your plans. Thanks for watching!
Hmmmm. The desire to jump up the ladder after arriving in this country has also burned me. On paper, these so-called experts will make it sound good until you have committed your self by signing the agreement forms. It makes it difficult to trust most of these financial planners etc. as they never tell you that you can lose all of your investments. Back home, it is called 419 and in the advanced world it is called…..
I think it is called a scam 🙂. Definitely, slow and steady wins the race. We need to look very carefully before we leap. We live to learn. I hope you have recovered. Thank you so much for watching and sharing!
@@ThisSideOfLifeWisdom I agree with you. Slow and steady wins. Your channel has been a blessing to me and hope it has been to others also. Especially most of us immigrants who are always caught between two worlds and trying to live in both. God bless you for the contents you share with us.
Affinity fraud...first time hearing it. Sorry about the stocks. Definitely there's no sentiment when it comes to money issues. Diversification is key, not just in stocks. Applicable in where you put your retirement money also. Most just concentrate on 401k, can't recall the Canadian equivalent.
You cannot dabble into anything without understanding how it works.
Thank you for sharing.
True, no sentiments. It's called RRSP (registered retirement savings plan) in Canada. Thank you for watching!