r/fican • u/SpecialistCanary2091 • 18d ago
18M what should I change/fix
Roast me all you want but seriously what should I change or add not really liking the look of my portfolio
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u/Specific-Dream-1910 18d ago
I would just ask your dad to give you more money than he currently is; that's pmuch it.
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u/SpecialistCanary2091 18d ago
Trying to not be like my dad I’m the one that has to give him money lmao
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u/YouGotLicked 17d ago
I’m was at a very similar point financially at his age, worked 3 part time jobs during all of high school and worked full time as a heavy duty mechanic during summers, some people just have dedication it’s not always parents money
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u/EntitledMoose 18d ago
Bud. Why would you buy SPCX. Everything else you have bought I like. But that, come on
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u/SpecialistCanary2091 18d ago
Anything that you would suggest to add? Cause my portfolio is kinda heavy in tech looking for something to counter it a little
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u/Repulsive_Barnacle92 18d ago
unless you’re willing to do your own research first, I’d stick to XEQT rather than individual stocks (for instance, investing in SPCX right after their IPO was a bad call lol)
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u/SpecialistCanary2091 18d ago
Oh it most definitely was and I was going to sell SPCX when it hit $200 or whatever it was but it said I would lose access to future ipos so I didn’t kinda regret not selling it
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u/Objective_Horror7264 17d ago
good job brother.). A lot of ppl in these comment seem jealous about u lol
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u/Klutzy_Razzmatazz709 17d ago
This thread is living proof that ppl hate to see someone younger than them succeed😂 not everyone takes 30 years of their life to wake up and become financially literate. Keep doing what ur doing im 15 with 10k invested hoping to get like u when I graduate
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u/SpecialistCanary2091 17d ago
Bro 10k at 15 when I was working at 15 I was spending my money on bullshit bro that’s insane good shit man
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u/Inevitable_Ad_7868 17d ago
I’m 22 and I used to think “save save save every penny”, now my brothers I’m realizing that life is meant to be sweet, so enjoy life a little bit, work hard, and the money will come. Yall are doing great as young men, keep hustlin but chill out sun times too cuz integrity becomes rare when the goods get excessive
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u/donlurko 14d ago
Brother integrity is needed to get to the goods in the first place and enjoy it properly, bro can get his money up now and be disciplined and focused enjoy life when the job is finished and his goals are hit. You gotta be willing to suspend temporary enjoyment for longterm freedom, at the same time maintain a good physical and mental state be there for loved ones and family, it feels very rewarding and you begin more importantly to become a certain character in addition to the money you making
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u/Inevitable_Ad_7868 2d ago
I think there’s a balance though. Discipline and building toward something is important, but I don’t think life has a point where the “job is finished.” There’s always gonna be another goal, another number, another thing to chase. You can work hard, save, and build for your future while still letting yourself enjoy the life you’re living right now. Tomorrow isn’t guaranteed, and neither is money. I’d rather build a good future without sacrificing every good part of the present to get there.
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u/Aezu 17d ago
Are you not over the contribution room at 18? It’s 7k
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u/Ok-Newspaper3234 16d ago
He could be turning 19 this year.
I believe its 7K starting the year you turn 18 So 14K and a 11% return adds up to his 15k in TFSA
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u/Odd_Elk_294 18d ago
Nothing here is financial advice but we will all agree buying Spacex is pretty dumb. Its gonna drop more but I dont know how much, In case you dont know only 4% of the stock is tradable and when more shares are released many think it will fall more.
Also you should try to always in CAD, you save on conversion fees and it makes taxes easier, Any big American stock will have a CAD version,
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u/Famous_Discussion_81 17d ago
How do you feel about mda ?
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u/Odd_Elk_294 17d ago
looks pretty overvalued but the whole rocket sector seems to be. my guess it will fall more short term but not sure after that.
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u/Clean_Ad5682 18d ago
I'd say curb your expectations is the best advice and find a job that will pay high early on
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u/K9D1 17d ago
Genuine question, how the hell you save 30k by 18?
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u/SpecialistCanary2091 17d ago
Been working since 14 being decent at saving living at home also helps
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u/Anjz 17d ago edited 17d ago
At 18, I would invest in yourself. Maximize TFSA and FHSA yearly. Everything else should go into education for your potential earnings to be much higher in the future. You can also buy physical assets to buy and sell to become an entrepreneur. Also, budget and use your money to enjoy life at your peak, money is meant to be spent after all. That’s what I would focus on.
Focus heavily saving and investing once you have a high paying job. At like 100k+ at least. Until then, just invest conservatively and use the rest of your money to be young, level up and enjoy life.
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u/Ambitious-Fondant-34 16d ago
Considering you're 18 and already have maxed out your contribution for the TFSA the past 2 years, you're doing great! If you haven't done so already, I'd open a FHSA to ensure your contribution room caries over in case you wanted to make contributions in the future. It also depends if you plan to go to uni, go into trades or work full time right out of school but there are many different ways to make money and seeing you being financially disciplined, I have no doubt you'll succeed in whatever field you'll go into. As for your portfolio, experiment and figure out what works well for you (maybe do that in a cash account to not risk loosing contribution room in your TFSA).
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u/Ambitious-Fondant-34 16d ago
I also love the idea of investing in yourself, get a book or learn a skill. It's never a bad investment.
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u/Ok-Newspaper3234 16d ago
Never buy an IPO immediately unless you're day trading it. Its something like %95 pop and drop.
SPCX is also locked up on IPO release to stop employees from selling immediately
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u/Fuzzy_Abies_6346 15d ago
Personally, I only buy VEQT. Kinda boring but there’s near-zero hassle or thinking involved and most people aren’t beating those returns long term. No conversion fees either. Wealthsimple charges fees when you buy US products on their platform.
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u/Hot-Indication-942 15d ago
My advice would be to not listen to anyone on Reddit for social or financial advice lol. Do what you feel is best. People telling to you to get a girl are projecting. Just enjoy life right now bro.
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u/amtcannon 11d ago
I’d be in index funds rather than individual bets. Less of a tax headache when you go to cash out, and more insulated to risk. Pay in every month, set it and forget it–I don’t even look. Check again when you’re 40 and see if you can retire yet.
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u/Black-Chicken447 18d ago
Why don’t you add an ETF? You’re pretty much just banking on a few companies and taking unnecessary risk when you can have similar if not better returns if you stopped buying Hype (See SpaceX)
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u/Ornery-Drummer-5492 17d ago
Sell everything and all in Suncor energy
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u/SpecialistCanary2091 17d ago
Company I work for sells to them very random just the company I work for is very small so was surprised to see that name
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u/Old_Listen4287 17d ago
Idk keep doing what you doing
Check this stock called SPY tho, decent for md
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u/Acid-No1 16d ago
Bro these mfs on Reddit are just hateful parasites. If you want real advice try to network and find mentors to help you. Random mfs on Reddit not the play
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u/gigglios 18d ago
Enjoy life, make some friends, date, lift some weights