“I am investing to build a sustainable and growing stream of passive income with the goal of it covering our household expenses by the time I am 45 years old. We won’t necessarily quit working at that point; it’s just for the goal of being financially independent of others and being free to pursue our passions.”
While I won’t go into what I invest in. I do invest. I want to make my money work for me. Yeong interviews a handful of young Canadians about their various strategies. You will see the wide-range of different possibilities these clever folks are active in. These include stocks, mutual funds, GICs, bonds and real estate.
A lot of the time, children are heavily influenced by their parents. Especially for financial matters. It is so very important for parents to teach their kids about this because schools just don’t do a good job at it. This is where we will begin to see the gap in wealth start to open up. Obviously, children whose parents have experience with investing will teach their offspring more than those who don’t.
Basically, just start young. Even, if it’s just a little. Invest in things that you are comfortable with. For example, if you are a tech-savvy nerd like me, do some research in the companies you know about.