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Forums - General Discussion - I'm young and from Canada, how should I invest my money now to insure I'm financially set when I'm older?

Arcturus on 27 August 2012
Gilgamesh said:
HappySqurriel said:
Gilgamesh said:
Here's the thing about the land, my dads an old fashion guy and he told me hes giving me all his land when he no longer wants it, this could be another 20 years or longer but if I wanted to do something to it, put something on it to make money yet still have the land in our family that's what he would want, he told me he doesn't want me to sell it. Like I said its middle of no where country and there's no sign of anything big coming out of there.

I was also thinking windmills? what kind of profit would they bring, maybe rent out a bit of land, I don't think that'd be to much of a problem.


In 20 years things may change but, unless the land is in a pretty rare wind corridor, you probably can't make money off of wind energy (unless you know people in government that owe you favours. What you can do with the land really depends on where it is though.

Where I'm from windmills are BIG (and I don't mean there size)

Where are you from, and where is your dad's land located?

As HappySqurriel mentioned, your land would have to be located in an optimal wind corridor for a company to consider erecting a wind farm in the area. If your land happens to be located in the optimal area, and a company is planning a wind farm there, they could offer upwards of $10,000 per windmill per year for use of your land.



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Gilgamesh on 27 August 2012
Arcturus said:
Gilgamesh said:
HappySqurriel said:
Gilgamesh said:
Here's the thing about the land, my dads an old fashion guy and he told me hes giving me all his land when he no longer wants it, this could be another 20 years or longer but if I wanted to do something to it, put something on it to make money yet still have the land in our family that's what he would want, he told me he doesn't want me to sell it. Like I said its middle of no where country and there's no sign of anything big coming out of there.

I was also thinking windmills? what kind of profit would they bring, maybe rent out a bit of land, I don't think that'd be to much of a problem.


In 20 years things may change but, unless the land is in a pretty rare wind corridor, you probably can't make money off of wind energy (unless you know people in government that owe you favours. What you can do with the land really depends on where it is though.

Where I'm from windmills are BIG (and I don't mean there size)

Where are you from, and where is your dad's land located?

As HappySqurriel mentioned, your land would have to be located in an optimal wind corridor for a company to consider erecting a wind farm in the area. If your land happens to be located in the optimal area, and a company is planning a wind farm there, they could offer upwards of $10,000 per windmill per year for use of your land.

It's located in a really good spot ;), I'll look into that. I'll talk to him about it and see what he thinks. So other then that I'll go to the bank and ask them about a tax free savings account. Thanks for the advice guys



Slimebeast on 27 August 2012

Saving money is not worth it unless you invest in stock.

The economy is designed around the idea of common people consuming and producing and thus it's cheaper to take loans.

Plus it's an oxymoron to save while you are young. A young person doesn't own any capital but is energetic and in constant need of money, while an old person has accumulated lots of stuff during his life and doesn't consume much anymore.

need much in addition to all the stuff he already accumulated during the years.



Gilgamesh on 27 August 2012
Slimebeast said:
Saving money is not worth it unless you invest in stock.

The economy is designed around the idea of common people consuming and producing and thus it's cheaper to take loans.

Plus it's an oxymoron to save while you are young. A young person doesn't own any capital but is energetic and in constant need of money, while an old person has accumulated lots of stuff during his life and doesn't consume much anymore.

need much in addition to all the stuff he already accumulated during the years.

What if I do have some money tucked away,  stocks would be the only way to go?



Slimebeast on 27 August 2012
Gilgamesh said:
Slimebeast said:
Saving money is not worth it unless you invest in stock.

The economy is designed around the idea of common people consuming and producing and thus it's cheaper to take loans.

Plus it's an oxymoron to save while you are young. A young person doesn't own any capital but is energetic and in constant need of money, while an old person has accumulated lots of stuff during his life and doesn't consume much anymore.

need much in addition to all the stuff he already accumulated during the years.

What if I do have some money tucked away,  stocks would be the only way to go?

Stocks are risky, and stock funds slightly less risky but still risky.

If you have some extra money that you won't need for the coming few years I'd go for a safer investment (a bank account, that's what I do personally. Interest rate sucks but it's safe) but if you really decide you want to save that cash for your retirement you should go for stock funds. Unless your country has these private retirement saving plans like Sweden does (I think it's simply called "pension fund" or "pension saving"), because they're subsidized by the government by allowing you a tax deduction on part of the interest.



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MrBubbles on 27 August 2012

dont invest in bananas



"I like my steaks how i like my women.  Bloody and all over my face"

"Its like sex, but with a winner!"

MrBubbles Review Threads: Bill Gates, Jak II, Kingdom Hearts II, The Strangers, Sly 2, Crackdown, Zohan, Quarantine, Klungo Sssavesss Teh World, MS@E3'08, WATCHMEN(movie), Shadow of the Colossus, The Saboteur

Gilgamesh on 27 August 2012
MrBubbles said:
dont invest in bananas

Are you crazy everyone loves bananas, you'd be a fool not to



Chuva on 27 August 2012

Do you want a real advice? Stop taking advice from strangers on the internet. Go talk to someone in real life who is experienced and that you trust. The number of angry teenagers who think they have life all figured out is way too high on the interwebz(I mean that you probably will see a lot of advice from them).



darkknightkryta on 27 August 2012
Slimebeast said:
Gilgamesh said:
Slimebeast said:
Saving money is not worth it unless you invest in stock.

The economy is designed around the idea of common people consuming and producing and thus it's cheaper to take loans.

Plus it's an oxymoron to save while you are young. A young person doesn't own any capital but is energetic and in constant need of money, while an old person has accumulated lots of stuff during his life and doesn't consume much anymore.

need much in addition to all the stuff he already accumulated during the years.

What if I do have some money tucked away,  stocks would be the only way to go?

Stocks are risky, and stock funds slightly less risky but still risky.

If you have some extra money that you won't need for the coming few years I'd go for a safer investment (a bank account, that's what I do personally. Interest rate sucks but it's safe) but if you really decide you want to save that cash for your retirement you should go for stock funds. Unless your country has these private retirement saving plans like Sweden does (I think it's simply called "pension fund" or "pension saving"), because they're subsidized by the government by allowing you a tax deduction on part of the interest.

We have them here, they're RSPs



happydolphin on 27 August 2012
badgenome said:
NiKKoM said:
Give it to badgenome... he'll keep your money in a super secret hole and because of the pressure in that hole in 30 years time it will turn it into a diamond...

Yep, hatmoza is actually useful for some things.

That was deep.