Investing practices to pick up in your 20s

For Your Money Month, Julie Seberras, head of wealth planning and practice management with Manulife Wealth, joins BNN Bloomberg to discuss the best investing practices for those in their 20s.

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[kendel]

Investments like theses are just a way for the government to tax you later (rrsp) when you retire, You will always pay taxes. How much money did you really earn throughout all those years if the government is just going to tax you when you start collecting. Tfsa dont earn you much if you put your money in this savings vehicle, bc of inflation, more money printed and more money for the interests earned doesn’t necessarily mean you made money for that year, they can only pay you the maximum for that year on new deposits which it is limited. Saving money in your savings account also loses value if you just leave it there.
For me the solution is living like my grandparents that did not have much and was happy and poured all their money supporting their children and grand children.
Living modestly, spending wisely, living a simple life style, is the key to live a peaceful stress-free life
Monies saved for the unexpected things life throws at you! Eg. Death and emergencies
I think as you get older you’ll be happier owning nothing.

[DiggyT]

What are they investing for, their rent payments?