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Thanks for watching! In terms of brokerage, i'm going to recommend my video about Wealthsimple vs Questrade: ruclips.net/video/zZgN1eoAFC4/видео.html

People believe their currency has the worth it does because they have no other option. Even in a hyperinflationary environment, individuals must continue to use their hyperinflationary currency since they likely have minimal access to other currencies or gold/silver coins.

Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire.

I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value. I would be happy if you could advise me based on how you went about yours, as I am ready to go the passive income path.!!

Thanks for reaching out and for the kind words about my channel! 😊 When it comes to using your FHSA for a downpayment on a home, it’s generally better to focus on total return rather than just dividend income. While dividend ETFs can provide a steady income stream, they might not offer the same growth potential as other types of ETFs. For a goal like a downpayment, you might want to consider ETFs that have a good balance of growth and income to maximize your overall returns. If you’d like a more personalized and private response, feel free to reach out to me on Asqme. I’m happy to help you further for your situation! -> asqme.com/@DanishGhaziCPA

Great question! If you've made more than $30K with DoorDash, you do need to get a GST number. According to Canadian tax rules, once your income exceeds $30,000 in a calendar year, you're required to register for a GST/HST account and start charging GST/HST on your earnings. Additionally, a driver who supplies taxable commercial ride-sharing services is deemed to be a taxi business for GST/HST purposes. This means you have to register and charge GST/HST on your fares in the same manner as taxi operators. Even if you're a small supplier, as a self-employed taxi driver or commercial ride-sharing driver, you must register for the GST/HST. You can still proceed with the instructions in the video regarding your gross income and deductions, but make sure to include the GST/HST registration and collection in your process. If you need a more personalized and private response, feel free to reach out to me on Asqme. I'm here to help! -> asqme.com/@DanishGhaziCPA

@@DanishGhaziCPA Thank you!

Great question! When you hold U.S. investments like the S&P 500 in your TFSA, there are a few tax considerations to keep in mind: Capital Gains: Any capital gains from U.S. investments within your TFSA are tax-free in Canada. Dividends: The U.S. Internal Revenue Service (IRS) does not recognize the TFSA as a tax-sheltered account. This means that dividends from U.S. stocks held in your TFSA are subject to a 15% withholding tax by the IRS. So, while you won’t pay Canadian taxes on the capital gains or dividends within your TFSA, the dividends from U.S. stocks will still be subject to U.S. withholding tax. If you have any more questions or need further clarification, feel free to ask privately here: asqme.com/@DanishGhaziCPA

Glad you enjoyed it

Thank you for your support, remember to always do your due diligence before investing your hard earned dollars!

I do appreciate the work Ramit does

I'm a big fan of index investing and i've covered it many times over on why its one of the best ways to invest: ruclips.net/video/ydniCdo_et4/видео.html However, those looking to generate cashflow, can and should consider alternatives based on their financial goals since the S&P500 has a less than 2% yield.

Honestly, it really comes down to personal preference since xeqt and veqt are fundamentally so similar. The main difference is that one has more Canadian exposure. So, it just depends on whether you prefer that added Canadian focus or not

@@DanishGhaziCPA i should have been more succinct. I meant to say, just buy xeqt or veqt.

It sounds like you've really prioritized living a minimalist lifestyle to manage your personal obligations and debt. It's impressive how you've made such intentional choices, like renting a room and shopping at value village, to keep your expenses low. Not everyone can make those sacrifices, but it seems like it's worked well for you. Thanks for sharing your experience!

@@DanishGhaziCPA - Thanks for looking - but it all came about from mainly a couple of issues : - coping with an abusive childhood - having a very difficult time in school - reaching only as far as grade 8 Hard circumstances can create - hard people…. 💪🙏

To get an EXPRESS NOA on WealthSimple, you can follow the steps provided in their help section or contact their support team for detailed guidance. If you need more help, feel free to visit -> asqme.com/@DanishGhaziCPA

You’re welcome! When evaluating ETF factsheets for long-term stability, especially during the drawdown stage, here are some key aspects to consider: Expense Ratio: Lower expense ratios can help preserve capital over time. Performance History: Look at the ETF’s historical performance to gauge its consistency. Dividend Yield: Check the yield to ensure it aligns with your income needs. Holdings: Review the ETF’s top holdings to understand its exposure and risk. Risk Metrics: Analyze metrics like beta and standard deviation to assess volatility. For a more detailed analysis and personalized advice, feel free to reach out: asqme.com/@DanishGhaziCPA

Thank you!

Great question! Investing in ETFs that include stocks you already own can still be beneficial. Here are a few reasons why: Diversification: ETFs provide broader market exposure, reducing the risk associated with individual stocks. Convenience: Managing a single ETF can be easier than tracking multiple individual stocks. Cost Efficiency: ETFs often have lower transaction costs compared to buying multiple stocks individually. For a more detailed analysis and personalized advice, feel free to reach out: asqme.com/@DanishGhaziCPA

@@DanishGhaziCPA awesome thanks!

Thank you so much for engaging with my content! Your support means a lot to me, and I hope you’ll continue to follow and support the channel. XEQT is a great all-equity ETF that provides diversified exposure. However, since it includes US holdings, there are some tax implications to consider. Specifically, the dividends from US stocks within XEQT are subject to a 15% withholding tax by the IRS, which you won’t be able to recover in a TFSA. This means that while you won’t pay Canadian taxes on the dividends, you will lose a portion of the US dividends to withholding tax. Having said that, it's a minimal impact to the tune of ~$100 to $200 for every 100k invested.

@@DanishGhaziCPA ahh that's too bad you miss out on the full dividend return, but good at least that you don't have to pay Canadian taxes and that the IRS just withholds their15% from the dividend payout. Thanks for responding!

Great question! Here’s a brief overview to help you get started: Registration: First, ensure you have registered for a GST/HST number. Collection: GST/HST is usually included in the fare. For example, if you’re in a province with a 15% HST rate, the fare already includes this tax. Calculation: To determine the GST/HST portion, you can use the formula: Total Fare x (Tax Rate / (100 + Tax Rate)). For a 15% HST, it would be Total Fare x (15 / 115). For a more detailed explanation and personalized advice, check out my service -> asqme.com/@DanishGhaziCPA

I appreciate your feedback! Investing can be a long-term journey with ups and downs. While the prices may not have moved much in the short term, I’m focused on the potential for future growth and the lessons learned along the way. Thanks for watching and sharing your thoughts!

Thank you so much for your kind words and for supporting the channel, it means a lot! Regarding your situation with the CRA, it’s understandable to be concerned about the delay. Typically, the CRA aims to process mailed T1 adjustment requests within 8 weeks, but it can sometimes take longer. Given that it’s been 2 months, it’s still within the normal range, but I can see why you’d be anxious. If you haven’t heard back soon, it might be worth giving them another call to check on the status of your submission. It It could be that everything is just taking a bit longer than usual. Thanks again for your support, and I hope this gets resolved for you soon! Keep me posted on your situation, hopefully all gets resolved.

Good Eye - That's how you know someone is paying attention 😉

I love hearing real stories like this, it's an inspiration to others that the concept in the video is not just theoretical in ideal scenarios, the concepts of wealth building can be simple. Thank you so much for sharing!

Great question! Here are some beginner-friendly investment strategies to help you get started: Buy and Hold: Invest in stocks or funds and hold them for the long term, allowing your investments to grow over time. Index Funds: Invest in funds that track a specific market index, providing broad market exposure with lower risk. Dollar-Cost Averaging: Invest a fixed amount regularly, regardless of market conditions, to reduce the impact of volatility. Dividend Investing: Focus on stocks that pay regular dividends, providing a steady income stream. Robo-Advisors: Use automated platforms that create and manage a diversified portfolio based on your risk tolerance and goals. For a more detailed guide and personalized advice, check out my service: asqme.com/@DanishGhaziCPA

Title fraud is when someone illegally transfers the ownership of a property without the owner’s knowledge. They often use forged documents or stolen identities to do this, and then sell the property or take out loans against it.

Ooh.. this is scary .. need to be aware of such transactions. Thanks 🙏

I hear you, the cost of land and housing can be really high these days. It would be great if more affordable housing options were available. Apprecite you watching.

Maybe its time?

Thanks for sharing your thoughts. It's definitely a complex issue. Mortgage fraud can have serious consequences for everyone involved. It's important for all communities to address these problems openly and work towards solutions. Have you seen any initiatives or policies that aim to tackle this issue?

Thanks for sharing your perspective. It can be really frustrating to feel like your hard work isn’t being rewarded. Balancing support for those in need with recognizing the efforts of those who work hard is definitely a challenge, not sure where the country goes from here...

@@DanishGhaziCPA I’d like to see the breakdown for people in Ontario who have 4 kids and are on ODSP. The money they get is net income. It would be interesting to see the what the actually gross income would be to get that money after taxes. Then compare it to someone who does work with the same gross income and 4 children. If you gross $100,000 in Canada you could in reality say you gross $50,000. Because, people who don’t work I’d venture to say actually gross more for not working. It truly is sad to me.

Glad it was helpful!

Those ones specifically I have covered in a seperate video, you can check it out here: ruclips.net/video/KjqxvsBxN-I/видео.html

Realistic is always a good investment.

For questions you can reach me here: asqme.com/@DanishGhaziCPA

Hi

Thanks for sharing your thoughts. Immigration and international students are definitely hot topics. While some people might misuse the system, its hard to tell how many international students genuinely come for education and contribute positively to the community. It's important to find a balance and ensure the system works fairly for everyone. Do you think it can get better?

Great question, feel free to reach out on the matter here: asqme.com/@DanishGhaziCPA

I've covered TEC in a seperate video, have a look: ruclips.net/video/nf55ValKXzw/видео.html