I’m well positioned with good blue chip companies and A.I stocks but I know crash is inevitable. Intend buying $200K worth of Plantir soon, some experts say it's the next Nvidia. Hoping to retire comfortably in 5 years
The issue is people have the "I want to do it myself mentality" but not equipped enough for a crash, hence get burnt. Ideally, advisors are best for investing jobs, and at first-hand encounter, my portfolio has yielded over 300% since 2020 just after the pandemic to date.
@@chadgriffith1969 truly appreciate the implementation of ideas and strategies that result to unmeasurable progress, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
Hey Nav, Great insights in the video! Just a couple of points I wanted to mention: In the 25-year scenario, it seems the cost of maintenance wasn't factored in, which can easily be around $25,000 a year, or roughly $2,000-$2,500 per month. This would reduce the net income by about $4K-$5K for both homes. In your example of selling a home, you mentioned net proceeds of around $270K. However, after considering interest costs, investments in the home (like building a deck), and realtor fees (about 5%), the actual figure for expenses might be closer to $150K-$180K. So, the net profit could realistically be around $100K rather than $270K for the home that you just sold. Other than that, I really loved the video. Keep up the good work, and best of luck on your financial independence journey!
Thank you so much. I am glad you liked it. I did factor maintainence of 2K-2.5K. The rent will increase to $7000+ at 3% YoY. I did factor 5% costs & fees in the sale of the home. Cost of upgrades / deck is luxury spend and an expense. But fair, if you include that, I should knock off $25-30K from the net gains.
@@growwithnav welcome Nav.. you did factor maintenance of 2000$ - 2500$ but that part only included everything apart from the maintenance and repair of a 25 yr old home which i am assuming will atleast be 2% of the cost of house. Hence, I came up with the figure of atleast additional 24k$ per year. For the sale of the new home, the interest cost that you have paid would have come to atleast around 70k-100k$ which i felt was not included in ur calculation. But all in all, you did a splendid job of covering everything. If i have to give you my 2 cents, focus on just builing one additional property and invest the money from your second home to the stock market investment. That would easily ensure that your target of 200k $ gross is taken care. All the best.
I am 43 with a net worth of $14 million. I have no need to touch this net worth (in real estate, stocks and crypto), because I also have a monthly income of $15,000 from a home based business. I started investing in 2001, sadly, this goal is not achievable for new immigrants including yourself that invested in real estate at the peak and signed up for expensive mortgages. You are forever going to be stuck in a loop paying extremely high living expenses. It is like trying to hit a target that is constantly moving. The future will have two categories of entrepreneurs, the rich upper class and then those that have a false illusion of making it. Gone are the days when immigrants achieved success after working hard for 10-15 years. Now, you are lucky if you can pay your monthly bills.
Thank you :) I am 37, and I am doing well because many people underestimate me and at times gave up on me. I figured that my gift is that I like to prove others wrong 😃
@@growwithnav impossible! Everything is stacked against you my friend. It’s 2024, a tale of two immigrant stories, those that came to Canada before 2010 and those that came after. Let’s chat again in ten years!
Great connect. definitely got me thinking. I did some calculations and our household income needs to go up by 60% to achieve something similar here. The end goal does seem a little daunting. Suggestion: present some basic calculations on the income needed now to achieve these. While there will be a lot of ausmptions. It could help a lot of folks set short term goals.
Hi Nav, Super useful content as usual. Couple of questions 1. Isn’t 33% tax rate for 207k high in 25 years? In Canada the tax slabs are inflation adjusted. My understanding is if you need 5k per month(60k yearly) net income today you need to gross 75k with average tax rate at 18%. Since the tax slabs are inflation adjusted isn’t it reasonable to assume lower tax rate when extrapolating future income? Say between 20 and 25% 2. Though there isn’t guarantee on social security (OAS) shouldn’t CPP be considered. It is funded by tax payer and is supposed to replace 33% of income in retirement in 30 years. Thanks
Hi Jithin, thanks :) 1. The income will be split between 2 people + a lot of the stock portfolio will be TFSA. Since there is realestate involved, the tax will be under 25-30% easily, if not under 20%. Not a tax consultant, so didn’t want to talk about that here. 2. Social security isn’t a given. Don’t want to rely on the govt for my retirement 😀 if I get, great!! Extra money and leave more for the kids - or I will spend it on more travel 😀
As a beginner, it's essential for you to have a mentor to keep you accountable. I suggest Miss Nancy William's Laplace is extremely good on that. She is really good on what she does, Now I can pay so many bills because of her help.
I always look up your videos for update! Our government has no idea how people are suffering these days. I feel for people with disabilities not getting the help they deserve. Thank you Mrs Trisha , imagine investing $1000 and receiving $5,300.🎉🎉
Hey Nav, great video, thanks for sharing. Something to consider, xqq and vfv have a significant overlap in their holdings. Top ten holdings in both are big tech (aapl, nvdia, msft etc). It can still make sense to hold both but definitely something to consider if you want to diversify further.
Just a warning if you get such a huge mortgage. What happens if you get into any accidents( god forbids not) and you are unable to pay the mortgage and value of the house falls than the purchasing price due to market crash.
Have you ever considered investing in Dubai ? What are your thoughts? The payment plans are very attractive in Dubai and rental yields are 8-12%. Also remember they have no taxes on capital gains
This video is making lot of assumptions. It says to invest $2500 per month in the market. $15000 per year into mortgage prepayment or $1250 per month. Also has $900k mortgage on primary residence. About $5000 per month mortgage in best case. Let us assume $5000 is the monthly living expenses (based on the spreadsheet shared in the video). So you need about $13750 per month after taxes or $165,000 before taxes yearly. Which translates to $250k (approx.) house hold income before taxes with 33% tax rate.😂 And this is with that you do not save anything for the kids (RESP, day care etc.) I don't even want to talk about how you will get investment properties that are cash flow positive. Even 5% down on 500k property is some good money. Good luck getting investment property with 5% down. Usually 20% is required unless owner occupied. Please be very careful when watching such videos. They will tell you do this or do that. But will not explain where the funds are coming from. Also don't be depressed. A family earning $250k every year are very rare. Doctors or lawyers etc. Average household does not have that kind of income.
I get it, but that’s what it takes to retire in Canada. I have made plenty of video on the channel on how to make more money. Some will complain and do nothing and others will absorb the information and act on it. You saying it’s an impossible task won’t change the fact that you need these numbers to retire in 25-30 years. What’s the alternative? What’s your plan?
Can you compare the current net worth of this theoretical family and net worth of the when you are proposing to retire? You will get your answer if the rate of growth of the net worth is realistic. Otherwise it is just talk and not practical. Also share starting from zero how long did it take to reach current net worth, what was the family's salary for each year. What was the seed investment (inheritance from family etc.)? It is very easy to say when you are 37 years old you will have the following in net worth (based on the video): - Primary residence of 1.2M (900K in mortgage). - TFSA of 75K. - 2 (or 3) investment properties that are cash flow positive.
And what exactly you’re going to do with that kind of money. Eat it or sleep on it. Healthy way of life is keep working until your physical health can’t take it.
This is such a good video for anyone looking to learn how to be secure at retirement Question : Your $2500 is going into an RRSP account since your TFsA is maxed out ? Or it’s something different investment account ?
Amazing content, Thank You for the information. I have 100k cash and I am lost/scared to put that money to work. It took a lot of blood sweat and tears to save this money. Please make a video about this problem of emotional attachment with money, specially for immigrants who work hard to save this money and loose in the long term to inflation. Cheers
Do we compound stock market monthly or yearly. Isn’t monthly 6% return quite high. I understand that investment is done on a monthly basis. Do correct me if I’m wrong.
great video. im 43 and late to the investing game. Lucky i do have a defined pension plan. and slowly starting to invest into vfv. i also started putting $100 a month auto investing for my son. What are your thoughts on auto investing on wealth simple.
Great Video Nav, how do CPP and OAS fit into this retirement calculation? Assuming one decides to take them at 70 vs 66? OAS might have clawback but CPP is guaranteed and we are contributing towards it regularly nonetheless.
@@growwithnav Sorry to disagree with you here. Every investment channel that you mentioned is very dependent upon Govt. House prices, stock market, economy and thus CPP and OAS. You can take the min of the # but still that is 'extra' money that needs to be considered in the 5M$.
Thank you for sharing such great content on RUclips and Instagram, especially regarding investments. I have a question about one of your videos, "My $5,000,000 Retirement Plan" on RUclips. In the breakdown section of your mortgage, you mentioned making a 20% down payment on a $635,000 property. However, the outstanding mortgage you referred to is $516,000. Could you clarify how this amount was calculated? Do not you think that this should be at least less than $508,000 as you did 20% down payment on your first home. ($635,000-20%*635,000=$508,000).
Thank you :) I had put $20K of upgrades on my mortgage, so the starting loan balance was $524,000. That’s why I said, it’s a long story and maybe will get into it some other video 😀
Are we assuming that the 5 million corpus we have created at retirement will pass onto family as legacy and we are just using the annual return on that to meet our post retirement expenses?
So many calculations and don't know for tomorrow..... Simple rule of thumb try to be mortgage free as early possible and invest in some business if you can......
I’ll recheck. :) but amazing video. Kept me hooked for entire duration and now am curious to plan my retirement and investment journey ! Thank you for putting this up. 😊
Hi Navjot, I am getting ready for an investment property by the end of 2024, hopefully interst rates will also be a bit lower. We should connect soon as I want a positive cash flow property I am not a candian citizen but can I still buy a property in US?
Sorry, but this video looks like you wanted to make a video on FIRE number in rush asthere are lot of RUclips capitalizing on FIRE.Many things in your video are missing and will stress your viewers till death! Key points which are missing are : CPP amount of you and your spouse you have totally missed also 1.2 million should be fairly big sized detched house and you can easily downsize to townhouse and put the difference in stocks and use them to fund your portfolio. Personally I feel 2 million of new worth can be a decent number
I’m well positioned with good blue chip companies and A.I stocks but I know crash is inevitable. Intend buying $200K worth of Plantir soon, some experts say it's the next Nvidia. Hoping to retire comfortably in 5 years
Buy and wait for 5 years then see how it plays out. Personally, I will not sell any of my NVDA shares to buy PLTR
I prefer to invest in large cap companies which have economic moats, good cash flow and strong balance sheets such as AAPL, SCHD, NVDA and Barclays.
The issue is people have the "I want to do it myself mentality" but not equipped enough for a crash, hence get burnt. Ideally, advisors are best for investing jobs, and at first-hand encounter, my portfolio has yielded over 300% since 2020 just after the pandemic to date.
@@chadgriffith1969 truly appreciate the implementation of ideas and strategies that result to unmeasurable progress, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
Annette Louise Connors is the licensed advisor I use. Just research the name. You’d find necessary details to work with and set up an appointment.
Hey Nav, Great insights in the video! Just a couple of points I wanted to mention:
In the 25-year scenario, it seems the cost of maintenance wasn't factored in, which can easily be around $25,000 a year, or roughly $2,000-$2,500 per month. This would reduce the net income by about $4K-$5K for both homes.
In your example of selling a home, you mentioned net proceeds of around $270K. However, after considering interest costs, investments in the home (like building a deck), and realtor fees (about 5%), the actual figure for expenses might be closer to $150K-$180K. So, the net profit could realistically be around $100K rather than $270K for the home that you just sold.
Other than that, I really loved the video. Keep up the good work, and best of luck on your financial independence journey!
Thank you so much. I am glad you liked it.
I did factor maintainence of 2K-2.5K. The rent will increase to $7000+ at 3% YoY.
I did factor 5% costs & fees in the sale of the home. Cost of upgrades / deck is luxury spend and an expense. But fair, if you include that, I should knock off $25-30K from the net gains.
@@growwithnav welcome Nav.. you did factor maintenance of 2000$ - 2500$ but that part only included everything apart from the maintenance and repair of a 25 yr old home which i am assuming will atleast be 2% of the cost of house. Hence, I came up with the figure of atleast additional 24k$ per year. For the sale of the new home, the interest cost that you have paid would have come to atleast around 70k-100k$ which i felt was not included in ur calculation. But all in all, you did a splendid job of covering everything. If i have to give you my 2 cents, focus on just builing one additional property and invest the money from your second home to the stock market investment. That would easily ensure that your target of 200k $ gross is taken care. All the best.
I am 43 with a net worth of $14 million. I have no need to touch this net worth (in real estate, stocks and crypto), because I also have a monthly income of $15,000 from a home based business. I started investing in 2001, sadly, this goal is not achievable for new immigrants including yourself that invested in real estate at the peak and signed up for expensive mortgages. You are forever going to be stuck in a loop paying extremely high living expenses. It is like trying to hit a target that is constantly moving. The future will have two categories of entrepreneurs, the rich upper class and then those that have a false illusion of making it. Gone are the days when immigrants achieved success after working hard for 10-15 years. Now, you are lucky if you can pay your monthly bills.
Thank you :) I am 37, and I am doing well because many people underestimate me and at times gave up on me. I figured that my gift is that I like to prove others wrong 😃
@@growwithnav impossible! Everything is stacked against you my friend. It’s 2024, a tale of two immigrant stories, those that came to Canada before 2010 and those that came after. Let’s chat again in ten years!
This is a great video. Loved it. Thank you.
🙌
Great connect. definitely got me thinking. I did some calculations and our household income needs to go up by 60% to achieve something similar here. The end goal does seem a little daunting.
Suggestion: present some basic calculations on the income needed now to achieve these. While there will be a lot of ausmptions. It could help a lot of folks set short term goals.
It was a couple of months ago when I first gave a thought to retirement planning in Canada. Ran my numbers and boy, I couldn't sleep that night!
I am glad you did it 😀
@@growwithnav Great job Nav! This is a triggering video. So I believe it met its objective 🙃
💯
Hi Nav, Super useful content as usual. Couple of questions
1. Isn’t 33% tax rate for 207k high in 25 years? In Canada the tax slabs are inflation adjusted. My understanding is if you need 5k per month(60k yearly) net income today you need to gross 75k with average tax rate at 18%. Since the tax slabs are inflation adjusted isn’t it reasonable to assume lower tax rate when extrapolating future income? Say between 20 and 25%
2. Though there isn’t guarantee on social security (OAS) shouldn’t CPP be considered. It is funded by tax payer and is supposed to replace 33% of income in retirement in 30 years.
Thanks
Hi Jithin, thanks :)
1. The income will be split between 2 people + a lot of the stock portfolio will be TFSA.
Since there is realestate involved, the tax will be under 25-30% easily, if not under 20%. Not a tax consultant, so didn’t want to talk about that here.
2. Social security isn’t a given. Don’t want to rely on the govt for my retirement 😀 if I get, great!! Extra money and leave more for the kids - or I will spend it on more travel 😀
How does this trading stuff work? I'm really interested but I just don't know how it go about it. I heard people really make it huge trading
As a beginner, it's essential for you to have a mentor to keep you accountable. I suggest Miss Nancy William's Laplace is extremely good on that. She is really good on what she does, Now I can pay so many bills because of her help.
This is correct, Nancy's strategy has normalized winning trades for me also and it’s a huge milestone for me looking back to how it all started..
Nancy is considered a key Crypto Strategist with one of the best copy Trading Portfolios and also very active in the cryptocurrency space.
I watched countless trading vids and still encountered many failures until Nancy started managing my trades
Now they yield about $13000 weekly
I always look up your videos for update! Our government has no idea how people are suffering these days. I feel for people with disabilities not getting the help they deserve. Thank you Mrs Trisha , imagine investing $1000 and receiving $5,300.🎉🎉
You're correct!! I make a lot of money without relying on the government. Investing in stocks and digital currencies is beneficial at this moment.
123k from Mrs Trisha. looking up to acquire a new House, blessings🥰❤️🎉
please educate me, I've come across this name before, Now i'm interested
Please is there any link or information about her, how can I reach her?
Get her on
Hey Nav, great video, thanks for sharing. Something to consider, xqq and vfv have a significant overlap in their holdings. Top ten holdings in both are big tech (aapl, nvdia, msft etc). It can still make sense to hold both but definitely something to consider if you want to diversify further.
Yeah true. I was going do to 60% VFV, then though of doubling down on tech a bit.
That’s what I thought your intent would have been; To double down on tech!
Just a warning if you get such a huge mortgage. What happens if you get into any accidents( god forbids not) and you are unable to pay the mortgage and value of the house falls than the purchasing price due to market crash.
Do watch the full video :)
Have you ever considered investing in Dubai ? What are your thoughts? The payment plans are very attractive in Dubai and rental yields are 8-12%. Also remember they have no taxes on capital gains
This video is making lot of assumptions.
It says to invest $2500 per month in the market. $15000 per year into mortgage prepayment or $1250 per month. Also has $900k mortgage on primary residence. About $5000 per month mortgage in best case.
Let us assume $5000 is the monthly living expenses (based on the spreadsheet shared in the video).
So you need about $13750 per month after taxes or $165,000 before taxes yearly. Which translates to $250k (approx.) house hold income before taxes with 33% tax rate.😂
And this is with that you do not save anything for the kids (RESP, day care etc.)
I don't even want to talk about how you will get investment properties that are cash flow positive. Even 5% down on 500k property is some good money. Good luck getting investment property with 5% down. Usually 20% is required unless owner occupied.
Please be very careful when watching such videos. They will tell you do this or do that. But will not explain where the funds are coming from.
Also don't be depressed. A family earning $250k every year are very rare. Doctors or lawyers etc. Average household does not have that kind of income.
I get it, but that’s what it takes to retire in Canada. I have made plenty of video on the channel on how to make more money. Some will complain and do nothing and others will absorb the information and act on it.
You saying it’s an impossible task won’t change the fact that you need these numbers to retire in 25-30 years.
What’s the alternative? What’s your plan?
Can you compare the current net worth of this theoretical family and net worth of the when you are proposing to retire? You will get your answer if the rate of growth of the net worth is realistic. Otherwise it is just talk and not practical.
Also share starting from zero how long did it take to reach current net worth, what was the family's salary for each year. What was the seed investment (inheritance from family etc.)?
It is very easy to say when you are 37 years old you will have the following in net worth (based on the video):
- Primary residence of 1.2M (900K in mortgage).
- TFSA of 75K.
- 2 (or 3) investment properties that are cash flow positive.
I built it all up when I was 33. From zero.
And the entire journey is on the channel - but it’s ok, you don’t have to do it if you can’t 🙌
Loved the video as usual. Very informative and insightful 🙌🏼🙌🏼
Glad you enjoyed it!
Great video!
🙌
Excellent video! However, in Canada you should also include CPP and OAS. Although who knows that in 30 years we will still be getting it.
Thanks :) which is why, I don’t want to rely on it 😀 I trust me > Govt
Good that you are not taking social security into consideration also health insurance is better in Canada compared to USA
🙌
And what exactly you’re going to do with that kind of money. Eat it or sleep on it. Healthy way of life is keep working until your physical health can’t take it.
Spend time with family. Travel. Work only if I want to.
Money doesn't solve all the problems, but it does solve a lot of problems. Also, 5M doesn't have the same value that it has today.
This is such a good video for anyone looking to learn how to be secure at retirement
Question : Your $2500 is going into an RRSP account since your TFsA is maxed out ? Or it’s something different investment account ?
Thanks :) Non registered account.
Please make video about details explanation of CPP plan in Canada🇨🇦
Amazing content, Thank You for the information. I have 100k cash and I am lost/scared to put that money to work. It took a lot of blood sweat and tears to save this money. Please make a video about this problem of emotional attachment with money, specially for immigrants who work hard to save this money and loose in the long term to inflation. Cheers
I know, that’s the hardest part 🙌
Do we compound stock market monthly or yearly. Isn’t monthly 6% return quite high.
I understand that investment is done on a monthly basis. Do correct me if I’m wrong.
Hardly matters. 6%
Annually - $2,020,842
Monthly - $2,076,020
Talk more on term insurance and how to save on premium in coming days
There is nothing much to talk here honestly - you can talk to a couple of brokers and go for the best value.
great video. im 43 and late to the investing game. Lucky i do have a defined pension plan. and slowly starting to invest into vfv. i also started putting $100 a month auto investing for my son. What are your thoughts on auto investing on wealth simple.
Sure, auto investing is great 👍
Great Video Nav, how do CPP and OAS fit into this retirement calculation? Assuming one decides to take them at 70 vs 66? OAS might have clawback but CPP is guaranteed and we are contributing towards it regularly nonetheless.
It’s not enough and I can’t rely on the govt for my retirement - if I get $1000-$2000 extra, great - I can spend that on travel :)
bro 3 percent inflation is too optimistic please open your eyes and analyse real data
You mean it will be higher?
CPP and OAS should also be considered. I know it's not applicable to everyone but still important
I trust me > Govt 😀
If I get, that will be extra travel money, but I am a super safe person who wants to prepare for the worst.
@@growwithnav Sorry to disagree with you here.
Every investment channel that you mentioned is very dependent upon Govt. House prices, stock market, economy and thus CPP and OAS.
You can take the min of the # but still that is 'extra' money that needs to be considered in the 5M$.
@@RobinReji1990 100% - you can definitely consider that for your retirement plan.
Hi Nav, great video. I am assuming all these numbers are for a household ( individual and their spouse) , is that correct ?
Yes
Thank you for sharing such great content on RUclips and Instagram, especially regarding investments. I have a question about one of your videos, "My $5,000,000 Retirement Plan" on RUclips. In the breakdown section of your mortgage, you mentioned making a 20% down payment on a $635,000 property. However, the outstanding mortgage you referred to is $516,000. Could you clarify how this amount was calculated? Do not you think that this should be at least less than $508,000 as you did 20% down payment on your first home. ($635,000-20%*635,000=$508,000).
Thank you :)
I had put $20K of upgrades on my mortgage, so the starting loan balance was $524,000. That’s why I said, it’s a long story and maybe will get into it some other video 😀
Most difficult part of retirement planning is finding the right number... 😅
Haha, use the calculator :)
Hi Nav, Please advise how to invest in US real estate for rental cash flow. How to select property/which state etc.
That’s a really long topic, and a YT video won’t be enough :/ I like red states - Ohio, Florida, Texas, North Carolina, Arizona
Are we assuming that the 5 million corpus we have created at retirement will pass onto family as legacy and we are just using the annual return on that to meet our post retirement expenses?
Yes. And it’s not actually a corpus. It’s a mix of stock investments and cash flowing realestate + primary home
So many calculations and don't know for tomorrow.....
Simple rule of thumb try to be mortgage free as early possible and invest in some business if you can......
🙌
Retirement calculator spreadsheet link isn’t working.
Not sure why… it’s working for me
I’ll recheck. :) but amazing video. Kept me hooked for entire duration and now am curious to plan my retirement and investment journey ! Thank you for putting this up. 😊
🙌🙌
Hi Navjot, I am getting ready for an investment property by the end of 2024, hopefully interst rates will also be a bit lower. We should connect soon as I want a positive cash flow property I am not a candian citizen but can I still buy a property in US?
Sure, you should get in touch soon. Link to book a call with the team is in the bio.
Hi, Please share your thoughts on Bitcoin ETF, is it worth investing in it.
I won’t risk my retirement on it. But definitely, invest the money you can lose :)
Which term insurance you are taking?
Sunlife - 25 year term insurance
@@growwithnav Thank you for prompt response.
So much value in one video! Always love your content. By the way, the WhatsApp group link isn’t opening.
Thank you. That’s weird. It’s working for me
Try this - www.growwithnav.com/investorlist
I am 32 years old, what I do for retirement
Watch this video :)
Sorry, but this video looks like you wanted to make a video on FIRE number in rush asthere are lot of RUclips capitalizing on FIRE.Many things in your video are missing and will stress your viewers till death! Key points which are missing are : CPP amount of you and your spouse you have totally missed also 1.2 million should be fairly big sized detched house and you can easily downsize to townhouse and put the difference in stocks and use them to fund your portfolio. Personally I feel 2 million of new worth can be a decent number
Sure, it’s my plan which I am most comfortable with. Doesn’t have to be yours’ :) if $2M is your number, that’s great 🙌
Oh buoy, you have no idea what’s coming tomorrow and you’re out here planning for 100 years!
You do you my friend :) it’s ok 🙌
😂😂
@@growwithnav No doubt, great efforts in making this video but I feel it's too much on future planning.
I am a super safe guy :) don’t want to regret not planning.
Link to value deals group please
www.growwithnav.com/investorlist
Where is the link to WhatsApp group?
It’s in the description
Bhaji can u give me something on wealth simple
Just watch my investing video.
Does your firm help with US focussed real estate investments?
No. I don’t. I just have a course inside of my Grow Nation community for clients.