Retire with $5M - Start here 🚀
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- Опубликовано: 3 авг 2024
- In this video, we discuss all about how to retire with $5M at the age of 65 and there's a surprise giveaway at the end!
Access the Courses at : www.grownation.ca/
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I am a licensed mortgage agent M21004312 working with Dominion lending centres, Valko Financial FSRA13047. I work with over 60 lenders including the top banks to provide an array of mortgage products that are suited to your needs. I can help you with your housing needs across all provinces in Canada (except Quebec).
I help First time home buyers & investors make smart realestate decisions based on numbers and not emotion. Want to book a call 👇 (It's free 🥳)
www.growwithnav.com/book-a-call
Get up to $3,000 in cash to trade stocks or crypto commission-free! Use this code 91NX5W or the link below to sign up 🙌 my.wealthsimple.com/app/publi...
MORE ABOUT ME 👇
My mission is to provide you with actionable content that enables you to build your wealthand live up to your potential. I came to Canada with my wife (Simran), during the pandemic in 2020, started with very little money, no job - to today, where I recently quit my job after building my side hustle to a cool 6-figures in revenue. I have met so many amazing people and mentors along the way, and I want to bring everything that I have learnt and continue to learn to you via this channel.
Timestamps
00:00 - Intro
01:14 - How big and small is $5M
08:26 - The Problem
09:14 - Your $5M journey
11:39 - Budgeting
16:22 - Some rules to follow
17:47 - The giveaway
Subscribe if you are interested in:
#Realestate
#StockMarket
#Stocks
#crypto
#business
#moneymanagement
DISCLAIMER: I am not a financial adviser. These videos are for educational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.
AFFILIATE DISCLOSURE: Some of the links on this channel are affiliate links, at NO additional cost to you, I may earn a commission if you click through and make a purchase and/or subscribe. However, this does not impact my opinion.
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Super video super content straight to the point
Good job Navjot
The starting line for a millionaire retirement Any thoughts on where to kick off this financial marathon?
you know *David Marvin Willis* always emphasizes a solid starting point in any investment journey. I'm curious if he has specific steps for embarking on the $5 million retirement quest.
Few considerations that would reduce the corpus required to ~3M.
1. Assuming 10 years of active employment in Canada, someone retiring today would be eligible for 700$ OAS and ~325$ CPP both pre tax and indexed to inflation.
2. Some of the drawings will come from tax advantaged accounts(TFSA). 150,000 in 30 years (equivalent to 50k today) will have around 18% tax rate. Assuming eligible canadian dividends make up 10% of retirement income, the tax rate will be less than 15%.
True! It could also go higher if we have a couple of more instances in the next 30 years.. where inflation jumps !!
Hey Nav, Appreciate your content always. Just a word of caution if you need to be licenced Financial planner in Canada in order to advise people on retirement planning particularly for a fee as course. Just check I am not sure.
co-host of the course is a financial planner.
As a couple , we have started monitoring it every month . We were spending way too much and it was a shocker initially. Now we have managed to curb the expenses a lot !
💯
Hi Nav, Tanuj here, this is really great info. Love your videos.
Glad you like them!
Do not buy courses!
Hi
May i plz have quick one to one call to discuss ETF and investing in stocks in US
If you get 8% return rate , you can hit 5 MILLION DOLLARS instead of 1.5 Million
INVEST YOUR MONEY 💰
💯
How can I get access to the network event without going thru the course? Can we buy Tickets for it?
Hey, no - it’s an invite only event.
Can you create an income video for 2023 as you are nearing end of 2023? Would like to know how the year went considering higher mortgage rates
I did 50% more mortgages - but had a bigger team :) so more expenses that can help the business scale.
That sounds interesting
Hi Nav! the course link you provided is not working once clicked. though it still says free! is the offer over ?
It’s working now. Looks like a technical glitch
Hey Nav,
You have been an inspiration to me
For intial 3 months i wasn't able to get a single odd part time job. Now 7months into this country and I'm working in my own industry as a student. I can share my story in very structured way with lessons and key takeaways which could be helpful for others.
Let me know if you'd be interested to cover that maybe in a video or podcast
🙌🙌
Hey Nav,
Let me know if you'd be interested in covering that? Thanks!
The link in description is wrong.. has an extra 'w'
Good catch 🙌
Changed thank you 😊
How is your Alberta townhouse property going on ? Is the property paying its total expenses by itself ?
It’s cashflow positive (about $400) and the rent will increase again in January.
These people cheat and steal. Don’t trust them.
Good to know the path towards Independence🎉
🙌🙌🚀
Man, better stay away from realtors. This business of buying investment ppty to turn it to cash flow positive has taken a lot of people to loose everything.
There should be one more category.. Emergency fund (For natural disasters and medical expenses) ..this category should be different from savings ... If someone is saving $5 million dollars he could try to keep $500K as Emergency funds..please consider this ... Oh Citizens of this World.. your brother from canada .. cheers
💯💯
I am planning retirement in India . It will require 10 Crores .
Earn in Toronto , Invest in Mumbai
Hey Nav, You number are correct to a big extent. Congrats🎉
At the same time Indian life expectency is 70.15 years if a person is lucky. So plan accordingly😂as we still carry the Indian gene.
Please make a video considering 55 years as retirement age.
Thank you 😊
Is there a social security income in Canada as in usa
There is… the amount is laughable.
You get about $1200-1500 a month. In 30 years; it will be worse.
We get similar amount in USA. Who knows what is going to happen next in another few years!! @@growwithnav
Its impreesive that you went to Canada 2020 and already Financially free. Did yiu cane with a lot of Capital or money saved? Did you start from Zero ?
Thank you :)
Started with $20K proof of funds
@@growwithnav ok good. I'm starting from zero now
Your numbers don’t include the Canada Pension and old Age Security payments
A total of $1500-2000 a month if it’s your only source of income. Not nearly enough to live a decent life esp in 30 years from now.
I take whatever I get from CPP and OAS as 1 additional travel a year.
Please make video about retiring in India. India growing so fast. And I bought my first house in India instead of canada. I am investing my all hard earn dollars in india.
I have talked about this at length in my $5M course. You don’t need a lot of money to retire in India - you just need to make some right moves that I talked about in the course.
Great Move !! Retiring in India is dirt cheap
@@zzyphon Yes
Your numbers gave me almost heart attack, got nothing saved for retirement.
Never too late 😀
Approximately 90% of your audience must be immigrants from India.
Thus, it is highly probable that over 70% of them will go prior to retirement.
A million dollars is more than sufficient, and it is far preferable to spend retirement in India.
Please do not buy courses
yep
People who see the value will get it:)
@@realestatewithRish I lost him when he said course gets folks hired into Google and Amazon..