Image source: Getty Images
Compound interest. It’s something that if you learned in school, you didn’t fully comprehend at the time. Since then, it’s something everyone should realize by now they want in their lives. That, along with learning how to find the best stocks to buy right now.
Compound interest is the addition of interest – or in the case of stocks, returns – on any loan
or deposit. In the case of investing, compound interest can be used to aid in your retirement strategy. That’s especially true if you’re in your early twenties and want to retire a multi-millionaire.
Image source: Getty Images
Death and taxes. These are the two guarantees in everyone’s life. But what if you could turn the process of taxes into an advantage? That’s what I’m going to cover in this article.
The tax collector
Every month – heck even
every day – you pay taxes. When you go to the grocery store. When you’re paid. When you buy gas. Everything has a tax associated. This happens automatically whenever you buy or make income on anything.
So why not do the same thing with your savings?
When you’re paid, the taxes are automatically taken off of your pay cheque. But there is a really easy, simple trick to saving money by doing the same thing towards your savings goals.
Ever since the first Canadian real estate investment trust (REIT) was listed on the
TSX in 1993, the pool of real estate assets became popular investment choices. The most attractive feature of a REIT is the dividend offer. If you aspire to be a landlord but have limited funds to purchase physical properties, a REIT is a next-best alternative to earn passive income.
Choosing the right REIT to earn a lifetime of passive income is not easy, especially in the current situation. The global pandemic dealt severe blows to many REITs. However, three names were resilient and endured the carnage. Yield-hungry investors won’t think twice about taking positions.
Want to Retire Faster? Try Doing These 3 Things fool.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fool.ca Daily Mail and Mail on Sunday newspapers.