Do you have any questions about CDIC deposit protection? Ask away below!

@austinemosindi

2 ай бұрын

Gudmrng Steph, grandma Jean sends her regards. From Austine.

love how transparent this channel is and how relatable

@stephandden

5 ай бұрын

Thank you! 😊

Budgeting and making plans for money is so much...I'm glad I'm not the only finance nerd

@stephandden

5 ай бұрын

Definitely not the only one 😊

Love watching this channel grow!🎉🎉🎉

@stephandden

5 ай бұрын

Thank you so much! 😊

So excited for your guys' saving plans! Can't wait to hear more about your plans to save money for a home AND your travel fund! I'd like to buy a home in the next 10 years so I'd like to start saving up for it in a year or two, but I've always wondered if you should keep it in a high yield savings account, invest all of it, or a mix of both (and if so, what ratio?) so I'm looking forward to the next vid on this!!

Omg you guys have been together forever. Congrats on that longevity

@stephandden

5 ай бұрын

Thank you! 😊

My favorite finance channel 😊

@stephandden

5 ай бұрын

Thank you! 🙏🏿🙏🏻✨

im in my 40s but i’m learning a lot from these young couple, keep it up, avid new subscriber here from BC

@stephandden

4 ай бұрын

Yay! Glad to have you here 😊

Temporary digital nomad lifestyle, didn't see this coming. Very interesting path you two are going down 🙂

@stephandden

5 ай бұрын

We’ll see if and when it happens, but that’s the potential plan 😊 thanks for watching!

@tabib7394

5 ай бұрын

Love your new ideas...You two remind me of the couple who have the Our Rich Journey channel when they first started out and what their life looks like now. If you haven't seen them, check out their channel.

This year i’m buying the Toyota RAV4 gr sport 😊 my dream car

@stephandden

5 ай бұрын

That's exciting! 🥳

Great video! I'm wondering how the digital nomad lifestyle affects your Canadian taxes? It's something I would also love to do one day!

Gudmrng Steph, how are u doing today? Grandma Jean sends her regards, I am Austine.

Thank you for the content! I will be using content to make myself financially smarter! Do you provide your budget tracker or have recommendations on which one to use?

Den love the hoodie!

@stephandden

5 ай бұрын

Thank you! 🙏🏿

I'm getting a rather large bonus in May. How do you suggest I invest it?

You could save money faster for trips if you changed hair dressers sounds like they are way overcharging! I get balayage or full head highlights for closer to half that and she always does an amazing job! (In gta also)

@stephandden

5 ай бұрын

I have really long, thick hair, which definitely factors into the price (it takes approx. 5 hours for my appointment! 😅) For now I’m happy with my hair dresser 😊

Enlighten me please. What types of investment give you %8 annual return rate? One year GICs are at 5%

@supernumex

5 ай бұрын

Low cost diversified index funds

@rhymeswithbinda5166

5 ай бұрын

8% is a bit high, id agree. Likely a range from 4-8.

@stephandden

5 ай бұрын

One example would be different passive funds that track stock markets (ie. the S&P500 average annual return since inception is 10.26%; the XEQT average annual return since inception is 9.53%; etc.) 😊

Like the budgeting excel spreadsheet that makes everything easier 🤩

@stephandden

5 ай бұрын

Agreed! We love using it 👏🏿🙌🏻

Hi guys, so if you have more than a 100k in your account, CDIC wont provide he protection for it? What are you meant to do at that point? Do you have to open multiple accounts just to keep it at 100 or less?

@stephandden

Ай бұрын

Keep in mind that it's up to $100,000 per category, per financial institution - so if, for some reason, you wanted to have more than $100,000 in savings, then yes, you'd want to spread that money between the different categories / member financial institutions in order for the full balance to be insured 😊

Love your idea to move somewhere new and make that your base to travel from. Travelling from Canada to other countries can be a hassle (and expensive).

@stephandden

5 ай бұрын

So true! It really can be a hassle + way more expensive!

Is it wrong the thing that caught me most was the $750 hair appointment? I thought my hair was pricey - lol.

@stephandden

5 ай бұрын

It’s definitely pricey! That’s why I only do it once a year 😅

Love the hoodie where is it from?!?

@stephandden

3 ай бұрын

Mine’s from Aritzia, and Dennis’ is actually from Kenya 😊

Great video Steph! Just noticed that your take home is 4.4K was wondering if this is the pay after tax deductions or you pay at the end of the financial year or if you draw salary/deductions from your incorporation

@stephandden

5 ай бұрын

Thank you! That's the salary that we take from our business monthly - $4,459.91/month is post tax 😊

Please can you share the template for your budget tracker on google sheets so I can copy.

@stephandden

5 ай бұрын

You can grab it here - stephandden.com/budget-template 😊

I thought you were only allowed max 40k in fhsa?

@stephandden

5 ай бұрын

Correct! $8,000/year, $40,000 total.

is wealthsimple CIDC insured? Like our RRSP or TFSA accounts?

@ssjvidel3786

5 ай бұрын

yes

@stephandden

5 ай бұрын

Wealthsimple is not a CDIC member institution, instead they keep your money held in savings (ie. money that isn't invested) in other banks that are CDIC member institutions. Ultimately your money (eligible deposits specifically) is still protected by CDIC 😊

Gotta save the money 🫡

@stephandden

5 ай бұрын

Yes! 🫡

Shout out to D&T! Did you work there before?

@stephandden

5 ай бұрын

Dennis did, yes! 😊

You lost me when you said LeBron James was your favorite NBA player. 😂

@stephandden

5 ай бұрын

I mean…he is the 👑 👑

Y don't you both start the journey like one couple on KZread did. They invested in dividend stocks, and within 5 years, they are financially free.

@rhymeswithbinda5166

5 ай бұрын

They also likely monetized + had sponsorships on youtube, not just dividends

@stephandden

5 ай бұрын

Everyone takes a different path 😊

Saving for a car.

@stephandden

5 ай бұрын

Do you have a specific car in mind? 😊

damn I had to drop a dislike on this video cause of the cdic. It's a massive moral hazard for banks to take large risks with depositor money. While they may guarantee your deposit, they cannot guarantee that it'll have any purchasing power...