31–40 of 66 posts
How old are you? Are you married? Have Children? I would suggest moving to New Zealand. They are looking for new citizens. You can buy a big ranch for nothing and live in paradise for the rest of your days. Or, if you have young children, you could move to northern Europe- Sweden or Finland. Your children are very likely to receive quality healthcare and education. Or, if you really have to stay in the U.S., I would…
I'd like to play there with some spare cash...
If you're looking for longterm investments that are active, franchise businesses (7-Elevens, Dunkin Donuts, etc) are remarkably stable. Magic Johnson is a huge investor in these for this reason (and has a line of theaters) Generally speaking, diversification is very very important. Even though bonds, stocks, or other items might be doing poorly at the moment, diversification protects against a precipitous loss. So ge…
Thanks for your help, I have considered buying a franchise but as you may know: 1. Good locations are taken 2. Priority generally given to current owners 3. It is a business I would have to overlook on a consistent basis (However a hotel investment I think would be okay in this sense, but again, good Hotel franchises are way more expensive plus again good locations are taken, and I do not want to work in the Boonies)
Second, you can talk to far away yet successful chains and offer to be the "anchor" locally. Find a Vancouver chain, for instance, and convince them to open stores in Toronto, etc.
Also, remember there are tons of chains out there, including ones that don't have offices/aren't mainly associated with their offices. I mean, for instance, stuff like Deco, which is a lot of "on site" window repair (Full disclosure: I have a indirect relationship with them, but I say their name more because I'm an American who knows few Canadian businesses than any particular knowledge of Deco).
I would not be surprised to find out there is a Canadian office of business affairs who'd help point you towards franchise opportunities.
Lastly, you can purchase them from people who already own them (with most franchises). I know that's how my family got out of their 7-Eleven store. In this economy, I'm sure there are people looking to sell. If you look hard enough, you may find one who is doing so due to hardship rather than due to poor performance.
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All that said: I say all the above because franchises are stupidly good at maintaining wealth. If you want passive and are willing to risk inflation issues, I'd go to with passive.
Also, you may want to buy some USD right now if you're all in CAD. USD swung down due to oil price issues. Oanda is cheap for large currency transactions according to my banker friend (flat fee as opposed to %). RBC also has free CAD->USD conversion for Canadians IIRC.
Then again, this might be permanent, and speculation is never a great way to gain security.
If you're looking for longterm investments that are active, franchise businesses (7-Elevens, Dunkin Donuts, etc) are remarkably stable. Magic Johnson is a huge investor in these for this reason (and has a line of theaters) Generally speaking, diversification is very very important. Even though bonds, stocks, or other items might be doing poorly at the moment, diversification protects against a precipitous loss. So ge…
"I focus in on things. I get deep into things that I like. I dont worry about diversification. I think it was Warren Buffet who coined the term 'diworsification'. I dont belive in diversification. For example on the long side of our funds we are well through 70% into precious metals. For me, I am probably into 70-80% gold. For me it does not bother me because I know that is the place where I have to go."
He is a man of conviction.
If you're looking for longterm investments that are active, franchise businesses (7-Elevens, Dunkin Donuts, etc) are remarkably stable. Magic Johnson is a huge investor in these for this reason (and has a line of theaters) Generally speaking, diversification is very very important. Even though bonds, stocks, or other items might be doing poorly at the moment, diversification protects against a precipitous loss. So ge…
Your note on diversification reminds me of a video I recently saw from Eric Sprott. In it he said the following. "I focus in on things. I get deep into things that I like. I dont worry about diversification. I think it was Warren Buffet who coined the term 'diworsification'. I dont belive in diversification. For example on the long side of our funds we are well through 70% into precious metals. For me, I am probably…
Additionally, I find it ironic you bring up Buffett: Berkshire is diversifying out of insurance :D
http://www.financialexpress.com/news/warren-buffett-scouts-f...
>Foremost, though, was his acknowledgment of the need for Berkshire to expand its non-insurance businesses, a broad collection that most prominently includes the railroad Burlington Northern and the electric utility MidAmerican.
Consider adding some municipal bonds. In most cases the income is tax free. Create a ladder of individual bonds and hold to maturity.
Earlier quoted context omitted.
Yes, please do! Edit: Added: I'm sure many here would benefit from this.
i will do a post on it soon.
Also, if you do this via a new thread, make sure you post the URL of that thread here, so that people can track from here. :-)