Jef Gla

@Xero your bank feed is terrible. Mine never works. And support just tells me to do the same things over again. What a waste of time I’ve spent on this. What am I’m paying for if I have to manually upload bank statements.

@ChetSucks @cartermcclung True. You just need self employment income with no full time employees (1099, sole prop, llc, s corp, c corp).

@jef_gla @cartermcclung You don't need to create an LLC or any other entity to do that.

I don't know who needs to hear this, but: 1. A revocable trust doesn't save you money on taxes. 2. An LLC doesn't save you money on taxes.

@JonLuskin It’s not supposed to be actual cash. It’s a chunk of money invested in 3M treasuries, like ustr etf. I’ve simulated it, 65% 3M treasury shield dropping to 0% over the first 5 years really does maximize the zero failure withdrawal rate %. A year or less of actual cash doesn’t work

"Having a large cash reserve (9-12 months of expenses) going into #retirement helps with sequence of return risk." I hear this all the time, both from DIY investors and advisors alike. It sure feels good to have cash. But, the numbers aren’t there. Of course, don’t take my word for it. I just interviewed retirement researcher Bill Bengen. We talked about exactly this. Here's a clip from the interview on holding cash as a retiree and what it means for spending in retirement.

@Gubloinvestor Complaining about cleaning your yacht. 😘

I did my taxes today, i owe CRA $92,042.24 in capital gain taxes. Time to move out of this beautiful country 😥

@AravindSitham Corp investments should avoid passive income like interest and dividends, focus on growth, to avoid clawback of the small business tax.

@AravindSitham Live off the RRSP money, but don’t have to spend it all, top off TFSA and invest in a taxable account. Direct and keep/invest revenue in your corp to pay yourself someday via sh loan repay and dividends.

Business Owners who pay themselves in dividends as their form of compensation miss out on generating RRSP room. RRSP Room is incredibly valuable. The ability to keep 100% of your income and gains to reinvest will allow your money to grow faster. Don't miss out on this.

@JoeC4281 @CDInewsletter Sorry. You are correct. I meant if you pay into cpp, apply for it, they don’t claw it back like OAS and GIS.

@jef_gla @CDInewsletter CPP retirement benefits are not automatic. Unlike some other government programs, the government does not start sending you cheques (or deposits) just because you reach age 60 or 65 and have contributed. You must actively apply to receive it.

I know a retired couple (both 75+) that have $1M+ in assets and a paid-off house. But they've intentionally put their capital into the lowest yielding investments possible (one-year bank GICs) in order to maximize their government benefits. Good planning or blatant fraud?

@JoeC4281 @CDInewsletter Yeah, everyone gets CPP. OAS is extra and gets reduced based on income. There is also GIS, but god bless you if you get that, means you are very poor in retirement.

@CDInewsletter If the retired couple paid into the CPP during their working lifetime, they deserve to get that money back, now that they are retired. That CPP money is theirs, not the governments.

@Jimmy_Edwardo @CDInewsletter Yeah. She probably has higher net income for longer but she still feels like she is losing becasue OAS is being taken away. It’s like being happy when you get a tax return, but you just have the gov a tax free loan.

@shreditor @CDInewsletter Yes. Stop working sometime in 50s/early 60s. Meltdown RRSPs. Don’t have to spend it all, invest some in taxable account. Then when OAS clawback kicks in, you time income to prevent/minimize it. But this couple is surpressing returns, because they didn’t plan for it early enough.

@CDInewsletter IMO, the option to claim full OAS amount as a deduction on income (in lieu of receiving it) would incentivize people with large nest eggs to draw out more RRSP and equity gains sooner. The clawback is a psychological deterant to keep income low

@CDInewsletter I see this all the time. Optimizing for OAS clawback and not max net income for the longest time. I think it’s shortsighted. But it’s not wrong to consider OAS clawback. But manage it with timing your income instead of suppressing returns.

@AravindSitham I think this 50% to 2/3 cap gains incision rate for corps in Canada was outright canceled in 2025. So current rate is 50% and there is no planned date at which it rises to 2/3. Doesn’t mean the legislation won’t come back and be implemented later (2027+).

If you are a midwife, doctor, or other healthcare professional that uses your corporation mainly for holding investments this thread is for YOU. Here's what you need to do to prepare for the upcoming capital gains inclusion changes for your corporate investments: 👇🧵

@TheICHpodcast The interviewer had it right. Asking at what net worth it makes sense to have $5M in t bills. 100% of your assets in t bills is bad advice. Kevin has forgotten what it’s like to be a normal person investing for retirement.

Kevin O’Leary explains you should aim to have $5,000,000 in treasury bills… “You should strive very hard if you're an entrepreneur to have $5,000,000 in T-bills”

@TheICHpodcast This is terrible advice.

@grok @ThiccTeddy @grok yeah but if the evidence comes from a single source who is highly respected individual with no trail of dishonestly on all their public interactions, then I would lean towards believing it. I guess that’s the difference between AI and humans.

Interesting point—ChatGPT's doubt aligns with the lack of public records of Munger saying this exactly. The quote comes solely from Lawrence McDonald's 2024 book, recounting a private Omaha conversation. Munger often focused on fundamentals, not technicals like moving averages, so the phrasing feels atypical. Without additional verification, some uncertainty remains.

"If all you ever did was buy high-quality stocks on the 200-week moving average, you would beat the S&P 500 by a large margin" "The problem is that few human beings have that kind of discipline" -Charlie Munger

@grok @ThiccTeddy @grok Ok. I believe it. Just doesn’t sound like Munger. You know I asked ChatGPT if it thought munger said this and it said it/they doubted it.

Based on my research, there's no evidence Lawrence McDonald has a history of fabricating quotes or bending truth in his publications. He's a NYT bestselling author (e.g., "A Colossal Failure of Common Sense") with a reputation as a credible market analyst. Attributing to Munger could add appeal to his book, but without proof, it's speculative. No controversies found around this quote.

@grok @ThiccTeddy @grok do you think Lawrence McDonald would lie about attributing that quote to Munger? Is there any benefit to him? Does he have a history of bending the truth? Or has he been a consistent truth seeker in all his publications?

@jef_gla @ThiccTeddy Based on my research, the quote is attributed to Charlie Munger in Lawrence McDonald's 2024 book "When Markets Speak," from a private conversation in Omaha. I couldn't find other primary sources like speeches or interviews confirming it exactly.