When I quit my job in late 2015 I had $85,600 Canadian dollars to my name.
Retirement Savings: $20,000
Change Jar: $600
I’m a good saver. I had $0 in 2009. My downfall in life with money has been quitting my jobs to do “nothing” to see my savings go to zero.
This time around I was planning to work part-time so that my savings wouldn’t dwindle. Fortunately, I invested in Canadian marijuana stocks.
Soon after meeting Uncle Jerry I slowly deployed my money into the most promising names.
Canopy Growth Corp(WEED): $20,000
Aurora Cannabis(ACB): $15,000
I had more money in stocks than this but they’re not really worth noting but at one point I had around 75% of my money in the market. They say you shouldn’t put more than 5% of your portfolio into one company. Listening to conventional advice will get you conventional results. Hey, in my lowly position I had to take a risk.
These stocks have shot up 4 to 25 times since I bought them. If I kept my foot on the pedal I’d be well on my way to retiring in the Mr. Money Moustache method. I’ve learned in order to get rich quickly you have to be crazy. From those 4 stocks my only significant holding is Canopy Growth.
Retirement Savings: $234,000
Long Term Retirement Plan(Pension): $115,000
Tax Free Savings Account: $101,000
Change Jar: $9.35
Marijuana stocks are a volatile and risky investment. If Canopy Growth does not continue to work its magic for me then things are going to look more grim. Either way though I will continue to transition into mostly a Vanguard S&P 500 Index ETF and Canadian bank stocks.
Working a full-time job that I don’t like is the last resort.