https://bsky.app/profile/markmcgrathcfp.bsky.socialhttps://bsky.app/profile/markmcgrathcfp.bsky.social/post/3lbkhslymls2xThe idea that 30-50 stocks gives you enough diversification misses an important point. Returns come from a handful of stocks, and most stocks are dogs. You reduce risk by owning 30-50 stocks. But you are likely to miss the stocks that drive the whole market higher.22 Nov 2024 17:09 +0000at://did:plc:o7cw3flqbp7ej44yqjmt7m2u/app.bsky.feed.post/3lbkhslymls2xhttps://bsky.app/profile/markmcgrathcfp.bsky.social/post/3lbi5g3mef22wThere are 3 essential ingredients to building wealth. 1. A decent savings rate 2. Reasonable investment returns 3. Time You have the most control over #1. Focus on that.21 Nov 2024 18:57 +0000at://did:plc:o7cw3flqbp7ej44yqjmt7m2u/app.bsky.feed.post/3lbi5g3mef22whttps://bsky.app/profile/markmcgrathcfp.bsky.social/post/3lbfkwt6ers2bCanadian Pension Plan (CPP) is a hedge against: 1. Inflation 2. Unlucky sequence of returns in retirement 3. Longevity It's like insurance. If those risks show up, you'll be glad to have it.20 Nov 2024 18:21 +0000at://did:plc:o7cw3flqbp7ej44yqjmt7m2u/app.bsky.feed.post/3lbfkwt6ers2bhttps://bsky.app/profile/markmcgrathcfp.bsky.social/post/3lbcwznwphs2bI've had clients earning over $1,000,000 per year break down crying in my office. Why? They didn't know where their money was going. Increasing your income won't help if you can't get a handle on your expenses.19 Nov 2024 17:20 +0000at://did:plc:o7cw3flqbp7ej44yqjmt7m2u/app.bsky.feed.post/3lbcwznwphs2bhttps://bsky.app/profile/markmcgrathcfp.bsky.social/post/3lbakefngvc27If you want to pay less tax: Make less money and keep what you have under your mattress. Less income = less taxes. You're welcome. Follow me for more great tax tips.18 Nov 2024 18:28 +0000at://did:plc:o7cw3flqbp7ej44yqjmt7m2u/app.bsky.feed.post/3lbakefngvc27