Mutual funds are a scam

Mutual funds are a scam

You’ve probably heard about mutual funds before. You know…those things your parents used to dump money into, thinking they would get richer because the fund provider had “wealth” in their name. Turns out, they’re a total cash grab, designed to line the pockets of sleazy salespeople who disguise themselves as “portfolio managers” or something similar. Here’s the problem: mutual fund fees are astronomically higher than those of low-cost index-tracking ETFs, and typically perform much worse. Why is this? Well let’s…

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Don’t follow your passion

Don’t follow your passion

Among the memorable pieces of career advice I was given as a student, one of the most common lines had to be “follow your passion”. Pep talks from teachers and invited speakers, suggestions from guidance counsellors, and motivational posters all proposed a common theme: Do what you love. Dream big. You will find success wherever your heart takes you. As personal and spiritual advice, I still think this is very true. You need to feel a sense of purpose to…

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Why investing is better than trading your time for money

Why investing is better than trading your time for money

When it comes to increasing your income, there are two paths you can take: Trading your time for a predetermined amount of money Buying assets that are capable of generating compound interest and scaling up Working a salaried job — the usual 40 hours a week, 9-5 grind — would be an example of trading time for money. So is working random gigs as a freelancer or hustling part-time to pay off your student loans. It’s what most people automatically think of when…

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Planting the seeds of wealth

Planting the seeds of wealth

It’s not easy being a Millennial. Despite our grasp on the latest tech and being the most educated, we are also the first generation to make less money than our parents fresh out of school and are deep in student and credit card debt. Our society is the most productive it has ever been, yet income inequality is increasing. Defined pensions and benefits are disappearing from workplaces. Permanent jobs are being replaced with part-time and contractual labour. The official retirement…

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