2025 planning - monthly passive income for my wife

As this year is coming to an end, some people including my wife is already thinking about 2025.

While the interest rate was high in the last 2 years, my wife mainly had $100K in term deposits (GIC) yielding a high return of 6% (risk free).

As the Bank of Canada is lowering interest rate, the interest rate on guarantee certificates/term deposits (and even private lending) is coming to an end.

This prompted her to look for higher return strategies - one of which is monthly passive income in Investing Accelerator.

In 2025, I will start using the monthly passive income strategy for my wife to boost her income. This will give her an extra $3,000 to $5,000 a month.

While she is still on maternity leave with our second child, this gives her some spending money to buy nice things (aka Chanel bags).

Just kidding - she already has enough of those bags - I am sure.

Ultimately, the monthly passive income strategy will significantly boost her income.

With her senior manager's salary, she has a high income already.

Combined with an extra $3000 - $5000 from monthly passive income, this means she will also need to find ways to reduce her taxes.

By earning a higher income, she can now contribute the maximum amount to retirement accounts (which will allow her to delay capital gain taxes for many years to come).

The vision here is that once her monthly passive income grows to $200K to $250K - it will be sufficient to replace her income..

Then, she will be financially free as well. Only work when she wants to.

Cheers,

Eric

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Eric Seto

Chartered Professional Accountant (CPA)

Chartered Investment Manager (CIM)

Founder of 5MinInvesting.com

In November, my goal is to help 15 people without a financial background to master investing through Investing Accelerator.

Investing Accelerator is designed for people without a financial background.

The goal is to achieve 30% return per year.

In the first phase, you will learn long term investing and targeting 30% for tax free compound growth. This will help accelerate your overall wealth.

In the second phase, you will learn monthly passive income to provide a more predictable cash flow (target 30% per year) which can cover your expenses. This will help accelerate your retirement goals.

If you are interested, then let's hop on a call to see if you can benefit from the strategies in Investing Accelerator and get 30% per year.

During the call, we will map out exactly how you can achieve 30%, what you are lacking, how you can improve.

If you have any questions about the program, you can ask during the call as well.

Schedule a call here: https://bit.ly/48mJlgR

Remember to go to the Classroom tab for additional investing resources.

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