Best place to find financial advice

[olufem]

Hello,
I am just looking for the best/ most helpful places to learn about investing/ savings different options. I try to research it myself and I go down the rabbit hole of basically personal blogs that don't teach anything.
Also trying to filter out the garbage information that just goes around in circles.
What are the best informational ones that have been found?
(Complete novice when it comes to this)
Thanks!

 

[infinitas1985]

@olufem Define "best".

 

[olufem]

@infinitas1985 Not clickbait articles that are wrote by someone who got bored. The ones " well if you just purchased this product blah blah."
Ones with actual information

 

[infinitas1985]

@olufem Whenever someone is trying to sell you something there's an incentive on their end; so by definition it will be biased. So I wouldn't go to anything like that as it won't be objective.

Consider finding and subscribing to 20 finance reddits and just browsing them on a daily basis. Avoid anything that anyone claims is "the answer" as there's not such a thing; and see how people think. Find the patterns. Then you will find out and find bread crumbs of that is "best" for you.

There is not such a thing as "the best".

 

[goldielocks]

@olufem https://www.mcgillpersonalfinance.com/

 

[pyrhonn]

@olufem Research so you understand how markets work, the different types of securities and how the cash flow, risks and taxation differs. Then, depending on age, but if not old, I would scatter your money among a mix of growth stock and dividend stocks. Make sure to leverage registered account advantage (such as tfsa). Research the stocks well and attempt to diversify by geography and industry. Make sure dividends are on a reinvestment plan. Then hold the investments. Don’t act emotional. Hold forever. Just don’t look at them even. If you hear really bad things about one of them, it’s too late anyways, so don’t sell. Once in a while if one builds up a huge unrealized gain, take some profit and buy something else and retain your original position at least. Maybe every 10 years, you can re-evaluate if you’re in a different age category and need to Reposition. I said hold forever before meaning don’t constantly tinker. As you age, you’ll maybe want to start pushing some into lower risk or fixed income investments. Investment advisors generally suck. Even ones that constantly get good returns are really just doing what they all do. I’m a Cpa - my clients all have the same fucking portfolios and pay a lot for it. Not worth it. They’re also good at selling themselves so you may be over attributing value to them (the advisors and brokers). Whenever you see losses in value, they’ll be quick to just say, “well, it’s the whole market right now, let’s just be patient”. When there’s big highs and you have large unrealized gains, then its, “the plan we’ve developed for you is doing what I expected”. They by funds and big equities. Learn and do it yourself. I had a stupid $18k commuted pension amount after working at Deloitte for 8 years. Put in One medium cap, high div yield investment and now a dozen years later, it’s pushing $150k. Just leaving it another 30 years maybe. yup - my pension was worth that much after that long at a big 4 (though my first years) - long story short - the year I quit I had these huge pension adjustment reversals after 8 years of positive pension adjustments. Pretty sure it’s fraud

 

[wangsamax]

@olufem The latest edition of "A Random Walk Down Wall Street" by Burton Malkiel.

Avoid the financial porn garbage like Motley Fool or Seeking Alpha.

 

[audmanout]

@olufem Check your credit reports. If you have enough investments that you can afford McGilvery law you’re doing pretty good right off the bat.