Through budgetings, stocks, savings and social media my goal is to reach one millon dollars by 2022. It will take some time but I want to share my history and knowledge to help you reach similar financial goals.
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RRSP Season is coming to an end
Have you made your contributions to your Canadian RRSP account yet? Time is running out.
If you are lucky enough to have your company match your RRSP contributions to make sure you are using it. I can’t think of a better way for you to get an automatic 100% return of investment with no extra work or risk on your part then taking advantage of this. Someone the other day actually said to me “I don’t need to do that, I’m fine”. My goodness man! It is free money. Be smart and use the benefits in your contract and your benefits at work. Strategically talking, if you don’t use something your employer is more likely to remove it and that could hurt you bad in the long run.
The first year I worked for my current company I wasn’t sure on the rules on it all and I was actually to embarrassed to ask on how it was done and ask for the paper work. I missed out on free money. Don’t be stubborn, just ask for a bit of help, it can go along way. We all want to have a comfortable retirement, lets make it an easy road, not a difficult road to get there.
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$IMP.to Stock
Lately the stock of $IMP has been going up and down between $.08 and $.10 and I’ve been buying and selling stock as this is happening and happy with the results for some nice gains. Setting limits on when to buy and when to sell have been a great. Pretty awesome when I am at my day job and little email pops up with sold your shares at $.10
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Jan 30 2017 - I held onto $IMP
From most of the things I read holding onto a stock that isn’t moving can sometimes be a bad thing if your goal is short term based. I told myself to just leave it where it is and set the sell limit to $0.09 and just continue to research and educate myself. Guess it kind of paid off because I got an email this morning informing me that the shares sold at $0.09
8,500 shares at $0.08 cost $680.00
8,500 shares at $0.09 cost $765.00
Difference of $85.00. Not a massive gain but I am happy with that. Even small gains add up.
Maybe I will repeat??
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What did we learn? Week ending Jan 06 2017
So another week of the stock market is gone by. What did I learn? Having less than $1000 is a bit hard to make a little bit of money with my current strategy. I purchased IMP with 8500 shares at $0.08 and set a sell limit of $0.09, it moved up to $0.085 but didn’t advance any further. It was moving a bit last week and thought that it would at least move up a little bit for a small gain didn’t happen. If nothing changes by Tuesday I will sell it back for $0.08 and just pay my fees and move on. Anyone have any suggestions? Penny stocks.
8,500 shares at $0.08 cost $680.00
8,500 shares at $0.085 cost $722.50
8,500 shares at $0.09 cost $765.00
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Jan 04 2017 Purchased and Plan
Today I purchased the stock $IMP for 8500 shares at $0.08 ($680CDN). After the purchased was made I placed a sell limit of $0.09 ($765CDN), that will be a profit of $85 when $0.09 is reached. I purchased this knowing the stock will fluctuates between $0.08 - $0.10. This is not set up for a long term investment.
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‘Ambivert’ I’m both: introvert and extrovert . I like people, but I need to be alone. I’ll go out, vibe and meet new people but it has an expiration because I have to recharge. If I don’t find the valuable alone time I need to recharge I cannot be my highest self.
Sylvester McNutt (via fyp-psychology)
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My Journey
This is my adventure to a million dollars. I am going to share how I get there, where I invest and how to save money.
I actually have a nice career that I totally enjoy. I am not doing this so I don’t have to work anymore. I am hoping if this is all successful I can work part time, travel a little bit and help out the people close to me.
I will be trading in the Canadian Stock Market mostly but other sources of income will also be included when the time comes about. I will share all the information and sources of income in this blog and maybe future website if it comes down to it. I do hope the information is helpful for you too.
You can also find me on twitter @JRHfunds when I make a trade on the stock market I will also post it on there with my results.
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