Baby Steps Investing for Financial Freedom

Now is always the right time.

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For anybody new to financial concepts, perhaps start here.

Improve Your Financial Literacy with a Free Online Course Open to All Canadians Take charge of your financial future with the McGill Personal Finance Essentials course offered in collaboration with RBC Future Launch and The Globe and Mail. Register today.

Tax-loss selling: What you need to know

The top 20 Canadian stocks on the TSX for value and momentum

A great meme!

What a wild week. Peyto soars and AQN crashes. Will Elon’s obsessing over Twitter crash Tesla’s share price? Then there is crypto. Will the latest “scam” damage Bitcoin and Ethereum in the long term?

Hopefully everyone had a great week. NWH.UN, WCP and OTEX were added to this week.

SIA and RNW are today’s temptations. RNW goes ex-div this week and is dipping this morning.

Looks like we may have bottomed here. Good companies are ready to be chipped away at and the Tech names may be ready to start getting back into.

Don’t fear the energy pullback, it’s an illusion.

“Compound interest is the eighth wonder of the world. He, who understands it, earns it; he who doesn't, pays it.” Albert Einstein

This weeks purchases have been FRU, WCP, CPG, FUEL, NWX, and BTCY. As you can see, I am bullish on O&G, but put money into other sectors as well. Never all in one basket.

Is this panic sell off justified, or is it just fear? It looks to me that copious amounts of people got into the stock market 📈 and then got out of the stock market 📉. If you need your money back within a couple of years, the stock market is not the place to put your money. That’s what GICs and high interest savings accounts are for. For the rest of us that are in it for the long haul, it looks like dollar cost averaging time to me. I am still bullish on Oil and Gas because I don’t think the narrative has changed. CPG, WCP, ETF, VET, SU, ARX, and TOU are a few of my favourites.

Good luck picking your winners everyone. O&G is still a good bet for the next few years, but other sectors are becoming better values too. I will be adding more BAM.A, CM, SU, and LIF this week.

Seeing so many more panic posts. If you are not comfortable with downturns in the market, you would be better served to use a set and forget portfolio or use a robo advisor. If you are still up at night after that, a high interest savings account might be your speed. It’s ok, the market can be a scary place, your anxiety is shared by many others trying to be a trader/investor. If it was easy, everyone would be rich.

The current market seems to be scaring a lot of people. If you are not cashing out for retirement in the next 24 months, enjoy the dips and keep investing.

If you are a speculative investor, don’t try to time the bottom, wait for it to prove it happened. If you are a value investor, we are in dollar cost averaging territory.

It’s bull trap time. Stocks that pay dividends are your safety net.

Dividend from TOU.TO this morning is a beautiful thing. Keep putting it back in and build your wealth. It will happen for you, stay the course.

If you are thinking of investing on your own, start with blue chip stocks that pay dividends. Then use your dividends to chase speculative stocks like small tech, pennies and crypto. At least this way if your high risk plays fail, you still have your original investment and it keep pumping out dividends for you to use to grow your wealth.

Don’t be afraid of the falling market. Invest in solid companies and avoid speculative buying. Zoom out.

I know that I may be repeating myself but Oil & Gas is the play right now. It has had a great climb since the 2020 sell off, but this climb is not over, it’s not too late.

To win on the stock market is easy, make less mistakes.

Many of the energy companies are about to release earnings. This might be the last oil and gas boom for a while. I for one just wish I had more money to buy.