kobylerner

[kobylerner]

Buy new or a used car? Always buy a used car first. Here is why.

The first step as an investor is to find out what is your risk tolerance score. To find out, answer 10 easy questions: https://survey.zohopublic.com/zs/RXCs0m

To learn more on how you can save and grow your money subscribe to my Youtube channel:

https://www.youtube.com/channel/UCm4G6dnfxOZl5ahYypzEKbg?view_as=subscriber

[kobylerner]

Taxes are the #1 expense any of us would have throughout our lives, so learning how to save money on taxes is arguably one of the most important things to improve our financial situation! Here are my favourite 5 ways to reduce my tax bill. Enjoy!

[kobylerner]

I can not express enough how important is a great credit score for your financial future. I listed the 5 worst mistakes to avoid to keep your credit score up. Let me know if you have any questions. If you think this video was valuable please like and share :) Subscribe to my channel for more tips on how to make save and invest your money. https://www.youtube.com/channel/UCm4G6dnfxOZl5ahYypzEKbg?sub_confirmation=1

[kobylerner]

Are you looking to make passive income? Not sure how? I have been using #lendingloop for almost two years now and made a short video reviewing it. You don't have to be rich to start.

[kobylerner]

This article will discuss research done by Charles Shwab comparing 5 different long term investment strategies in the stock market.

[kobylerner]

This video will explain the difference between regular (simple) interest to compounding interest

[kobylerner]

Hi guys, in today's video I would like to give you my personal opinion on the bank of Montreal and why I decided to move all my business to a different bank. Also, I will share with you what better alternatives exist and how you can very easily with very little time and effort spent start saving money every month on banking fees. And lastly, I will also share where I ended up opening my new chequing and savings accounts. You can invest with Lending Loop, support the Canadian economy and get $50 when lending a total of $1,500 to businesses on the platform: https://my.lendingloop.ca/lenders/new... Subscribe to my channel here: https://www.youtube.com/channel/UCm4G... The list of recommended banks with high-interest saving accounts are at the end. BMO was the first financial institution I opened an account with when I first came to Canada back in 2009. I have been doing pretty much all my personal and business banking with them since then. As a whole, the bank of Montreal is not a bad financial institution, however, if you are like me and you are rarely using the service from the bank tellers at the branch you are probably paying unnecessary banking fees that can be otherwise easily saved and invested. The one thing that I found in common for the main 5 Canadian banks is that their overhead expenses are pretty high due to the high cost of operating a largen number of physical branches such as rent employees etc. And to offset these extra costs the banks need to generate more income and that is why they are charging us these monthly banking fees. Now for people that require more face to face interaction when it comes to their daily banking, it most definitely makes sense to keep doing business with one of the main 5 banks However, if you are like me and you actually prefer to have as little as possible face to face interaction and you actually prefer to do everything online without speaking to a live person Paying the monthly fees makes absolutely no sense. I was personally a BMO client from October 2008 until May 2019 paying $10.95 a month for their plus chequing account plan so I paid almost $1,400.00 in banking fees. if I stayed with BMO by the time I hit 60 I would have paid over $5000. If I had never paid a single dollar in banking fees and instead take that money and invest it with let's say an index fund that would yield an average 7% return. by the time I would be 60, I would make almost $29,000 And this does not factors in the interest I would make on money I am keeping in my chequing account which is now days offered by many of the other less common banks. At the end of my research I decided to try out Tangerine and what pulled me in was their 2.75% on their high-interest savings account. Tangerine is considered an online bank and they have very few actual branches and this is again what allows them to pay this high-interest rate because of their relatively low overhead expenses. And The fact that they are owned by Scotia bank can potentially make things a bit easier if I ever need access to an ATM. They also offer up to 0.65% for the money you keep in your chequing account. Keep in mind that the 2.75% is a limited time promotion so please be sure that this promotion still exists if you decide to sign up. and this rate is only for the first 6 months and then it drops down to 1.35% which is significantly lower than the other saving accounts I was comparing. but you know what the process to open the account is so easy and fast that you can easily move to a different bank when the 6 months is up. So far I have nothing bad to say about my experience. I was able to do 99% of the things I needed online without ever having to speak to anyone and for the remaining 1% that I did have to call their customer service was actually pretty good. As far as what is my plan for after the promotion I got is over.  I saw that Meridian credit union offer a 3% interest on their savings accounts Unless of course, I will see another good offer that I can use instead. 1. 2.30% interest rate from EQ bank https://join.eqbank.ca/registration 2. Tangerine: 2.75% introductory rate https://www.tangerine.ca/en/products/... 3. Motive Financial: 2.80% https://www.motivefinancial.com/GetSt... 4. Motusbank: 2.25% https://join.motusbank.ca/GetStarted?... 5. Wealth One Bank of Canada: 2.30% https://www.wealthonebankofcanada.com... Enjoy the video! Add me on Instagram/Snapchat @kobylerner Legal disclaimer: This communication is for information purposes only and is not and under no circumstances to be construed as an invitation to make an investment with STEVLOC Management Inc.,

[kobylerner]

When you just sign up and get an internet/cellphone line. The agent at the telecommunication companies will always try to get you to sign a contract by offering freebies or a discount. The problem arises when you do not need the service anymore or if you found a better deal somewhere else. In this case, you are locked into the contract and the company will charge you a really high premium when you are trying to break the contract.

I was able to significantly reduced the early cancellation fee. To see how step by step 

[kobylerner]

5 Simple Principles to Invest Your Money Wisely No Matter Your Age :

1. Start investing as soon as you begin earning. Time is the most important aspect of investing and the sooner the better. As an example lets compare these two investors with the same amount of annual income and the same annual return on their investment:

Sophie Begins investing at age 35 and stops at age 65 Invests $200 a month Gets an average return of 8% Ends up with just under $300,000

Mike Begins investing at age 25 and stops at age 65 Invests $200 a month Gets an average return of 8% Ends up with just under $700,000

2. Use automation to stay disciplined. Because it’s so easy to procrastinate saving and investing, the best strategy is to automate it. Have money automatically transferred from your paycheck or bank account into a savings or investment account every single month. Doing so forces you to put money aside before you see it or spend it. Automating your financial future is really the best way to simplify your life and slowly build wealth.

3. Build savings for short-term goals and emergencies. Do not confuse investing with savings. Though frequently used together savings and investing is really different. Savings means the money you would need to use in the short term. A car that you plan to buy for example. Saving money for emergencies (typically 6 months worth of expenses). This should be kept safely in a high-interest bank account.

4. Invest money to accomplish long-term goals. Investments aren't like savings is money you will be spending in the long term future, such as retirement. Historically, investing in the S&P 500 will have an average of 10%. But even if you only get a 7% average return on your investments, you’ll have over $1 million to spend during retirement if you put aside $400 a month for 40 years. So, start investing a minimum of 10% to 15% of your gross income for retirement.

5. Leverage tax-advantaged accounts. One of the best ways to invest money is under the umbrella of a tax-advantaged account like RRSP's and TFSA's. These types of investment vehicles will help you a Retirement accounts help you accumulate a nest egg and cut your tax bill at the same time. If your employer offers a retirement plan, start participating as soon as possible—especially if they match some amount of your contributions.

[kobylerner]

Did you know that some of the biggest Hollywood actors, famous singers and sports legends do not have even $100 to their name?

I did some research on why celebrities go broke and I found the top 5 most common reasons. You will be shocked 😲 by what I found. I listed all the reasons in an article but feel free to watch quick 2 videos I did on it. I will share the second on Monday

Enjoy!

[kobylerner]

Did you know that some of the biggest Hollywood actors, famous singers and sports legends do not have even $100 to their name?

I did some research on why celebrities go broke and I found the top 5 most common reasons. You will be shocked 😲 by what I found. As promised on last Friday here is the 2nd video (link also in bio)

https://youtu.be/UWlizXvty08 If you want to read instead of watching the video please go here- https://www.kobylerner.com/…/Top-5-Reasons-Why-Celebrities-… Enjoy!

[kobylerner]

Is @JustinTrudeau good or bad for the Canadian economy? I just watched @kevinolearytv in an interview on Youtube raising some interesting points about the performance of the current government. 1. Could we have avoided the cut in trade with China? 2. Is Trudeau too young/inexperienced to run a G7 country? 3. Do we have the right people in key positions like finance and foreign affairs?

Want to know Kevin Oleary's input to these questions watch this short video

[kobylerner]

Ever wondered what you need to do to change your financial future? If you are chained in high-interest debt i.e. CREDIT CARD you need to watch this!

It took me a loooooong time (editing) to make these 2 short videos but I think the benefit and value are totally worth it. The link below is the 1st one. I will post the next one tomorrow. If you like the video give it 👍it will really help build the channel so I can create more content and reach more people. If you have any questions please write them in the comments section (youtube gives ❤️to videos with comments). And if you consider sharing I would really appreciate it 😃

[kobylerner]

As promised yesterday here is the 2nd video. If you like the video give it 👍it will really help build the channel so I can create more content and reach more people. If you have any questions please write them in the comments section (youtube gives ❤️to videos with comments). And if you consider sharing I would really appreciate it 😃

[kobylerner]

You should always strive to max out your TFSA contributions. When the government is giving a free pass on paying taxes you should TAKE IT! If you are not too sure about If you maxed out the room you have available read the article below:

[kobylerner]

In these two videos series, I will be covering 5 ways you can invest $500 a month with the goal of creating wealth in the long run, Enjoy. Comments if you have any questions. I will answer all of them.

For my Canadian subscribers invest with Lending Loop, support the Canadian economy and get $50 when lending a total of $1,500 to businesses on the platform: https://my.lendingloop.ca/lenders/new-lender?code=7c56ab

#1. Before anything: Create a 3-6 month amount of expenses and put it in an emergency fund. Having that means you will not rely on your credit card to pay for anything that is unexpected. For example, if you lost your job, have to pay a high medical bill, if your car breaks down or anything else you did not plan for. Having that extra cash means you will not have to sell any investments or take on high-interest debt to pay for it. Preferably put the emergency fund in a HISA (high-interest savings account). You can google high-interest savings account in Canada and choose anyone you want. Aim to have more than 2% interest on the account you choose. At the moment I am using Tangarine and I am pretty happy with them. They have a promotion right now that gives you 2.75% for six months. You can always switch banks if they lower down their interest rate. They have a pretty decent app that makes everything pretty smooth when you do your banking. Below is the link to sign up and please put this number in the sign-up process under “ORANGE KEY” 56837920S1 https://www.tangerine.ca/en/products/saving/savings-accounts/savings-account/ Here are some other high-interest savings accounts to consider. You should also make sure the bank you choose does not charge you a monthly fee for the savings account Meridian Credit Union: https://www.meridiancu.ca/Personal/Accounts/Savings-Accounts/High-Interest-Savings-Account.aspx?ds_rl=1264850&gclid=CjwKCAjwpuXpBRAAEiwAyRRPgQPvzQC-7sTm3dUAFpUATeLYse11g7plbrxOiAy5FLvX5UJmGvux5xoCNYEQAvD_BwE&gclsrc=aw.ds EQ Bank: https://www.eqbank.ca/personal-banking/features-rates?utm_source=google&utm_medium=cpc&utm_campaign=*EQ_HISA&utm_term=HighInterestSavingsAccount&utm_content=SaveMoneyWhileYouPayBills_summer2019&gclid=CjwKCAjwpuXpBRAAEiwAyRRPgRvfsJImMMZHM8JeObsgvPb3HEUL_iARyZ0VIainsrdjGW4d9MWN9xoCp4IQAvD_BwE

#2. The second thing you should do is contribute to your TFSA: This is not an investment but rather an investment “vehicle” that gives you a tax advantage. When you contribute your money to a TFSA and invest through it all your gains, profits, dividends are all tax-free. This is a good way to invest for retirement since you can let the money compound inside and you will not owe any tax on the profits. Another benefit from investing through a TFSA is that you can always take the money out without *penalties since the money is not **locked in. Please note that you are free to take money out of the account whenever you want but since there is a yearly limit to how much you can contribute taking money out is not recommended since you will not be able to put that money back in only after January 1st. Also, remember to check your contribution room before you add money to your TFSA. Click below to read more on how to check for contribution room. https://www.kobylerner.com/blogs/post/TFSA-Contribution-Limit *penalties- Please make sure that there are no penalties in the actual investment before taking the money out as this is again only the investment vehicle and not the investment itself **locked in- Please be sure to check if there is any restriction of taking the funds out from the investment itself before executing your investment as again, the TFSA itself is not an investment only an investment vehicle.

Thank you for watching! Here is the link to the second video: https://youtu.be/ZE9aoKlKFc0

Add me on Instagram @kobylerner