Recently, one of our American members asked whether all my money except emergency money is in SPY so that I can sell options on most of my savings.
He has been selling daily options on half of his savings and doing quite well.
He keeps the other half in a 401k and will use the 50/50 approach until he retires, which will be quite soon.
My response follows.
There are many government programs designed to help older Canadians stay financially independent. For example, Canadians don’t have health care issues. Retevmo costs $32,000 a month in the US. Canadians pay a $12 dispensing fee.
So Canadians can depart from a 50/50 (or 60/40 or 45/55) or a similar asset allocation.
To make that possible, Canadians pay more in various taxes than Americans.
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