I currently have a little in savings and I just recently did what I wanted to do for a long time: I put some money in other saving accounts that I had with other banks. So I now have my savings in 3 accounts, with 3 different banks. I also decided to pay down my margin a bit. My margin debt is now at $48,535.57. My non-registered portfolio closed today session at $122,166.31 and my TFSA portfolio at $115,825.80.
If you listen to Jean-François Tardif's interview at The Open this morning, I think it would give you the motivation you might need to pay down any debt you may have. According to Tardif, from 2 to 4 years from now, inflation will be a lot worst than what we think. In the short run, we need to get our ass ready to see inflation. Knowing this, my best advice is: do the best you can to build up some savings, and I will be doing the same. And now knowing this, I don't feel like investing, but that being just for now.
You can watch Timelo Investment Management Founder and Portfolio Manager Jean-François Tardif at BNN right here.
Jean-François Tardif believes that inflation will hit us hard and that we'll have to print less money, and interest rates will have to increase. Bonds will be at risk. Tardif focuses on COVID recovery stocks, specifically on COVID beneficiaries, as well on stocks that will benefit from the after COVID. This inflation environment is bad for bonds, as well as for some type of stocks.
Here's a little of stocks list that Jean-François Tardif has a positive review, that makes a great investment for the current time:
CIX
HCG
PRN
MHO
Among those stocks, the most interesting one for me is CIX.
Just in case you feel a bit lost by all this, you can always invest your money in the JFT Strategies Fund Class A Units (JFS.UN), which's the fund managed by Jean-François Tardif.
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