The idea that 30-50 stocks gives you enough diversification misses an important point. Returns come from a handful of stocks, and most stocks are dogs. You reduce risk by owning 30-50 stocks. But you are likely to miss the stocks that drive the whole market higher.

There are 3 essential ingredients to building wealth. 1. A decent savings rate 2. Reasonable investment returns 3. Time You have the most control over #1. Focus on that.

Canadian Pension Plan (CPP) is a hedge against: 1. Inflation 2. Unlucky sequence of returns in retirement 3. Longevity It's like insurance. If those risks show up, you'll be glad to have it.

I've had clients earning over $1,000,000 per year break down crying in my office. Why? They didn't know where their money was going. Increasing your income won't help if you can't get a handle on your expenses.

If you want to pay less tax: Make less money and keep what you have under your mattress. Less income = less taxes. You're welcome. Follow me for more great tax tips.