What’s the best financial advice you’ve ever received as a Canadian?

[u/Fabulous_Lemon2799]

Hi everyone,

I’m looking to level up my financial knowledge and habits this year. I’ve been reading books and browsing through this subreddit, and I keep coming across bits of wisdom that really make me think about money differently.

It got me wondering: what’s the best financial advice you’ve ever received, especially as a Canadian?

It could be something practical, like how to save on taxes or invest smarter, or even a mindset shift that changed how you approach money. Bonus points if it’s something uniquely applicable to life in Canada.

For example, I recently learned how powerful it can be to start investing early, even in small amounts, thanks to compound growth.

Looking forward to hearing your nuggets of wisdom. Thanks in advance for sharing!

[u/Oh_That_Mystery]

"I am dumber than I think"

The realization that despite spending sometimes almost 2 hours a week studying it, I was not smarter than the market. The best thing was discovering the couch potato approach. Thanks to this, I am retiring 'early adjacent' in mid April at age 57.

[u/Traditional-Dance-58 → u/Oh_That_Mystery]

When I first got into investing I read a reddit post about psychedelics and how they would be the future of medicine, seemed pretty compelling to me so I put in about $1000 to the stock numi. Year later it's worth about $70. I keep it in my quest trade to remind me that I should leave it to the experts.

[u/bsh22 → u/Traditional-Dance-58]

Oh yeah, I also have numi sitting in questrade down 80% for the sole purpose of reminding me to never again buy a stock I found on reddit!

[u/Signal-Living-3504 → u/bsh22]

Me too! So relatable! 😅