Comments on: Young, Rich, and Retired: An Interview with QCash http://www.milliondollarjourney.com/young-rich-and-retired-an-interview-with-qcash.htm Building Wealth through Saving and Investing Sat, 20 Mar 2010 05:13:35 -0400 http://wordpress.org/?v=abc hourly 1 By: Millionaire Possible http://www.milliondollarjourney.com/young-rich-and-retired-an-interview-with-qcash.htm/comment-page-1#comment-110241 Millionaire Possible Mon, 01 Feb 2010 16:41:50 +0000 http://www.milliondollarjourney.com/young-rich-and-retired-an-interview-with-qcash.htm#comment-110241 It is really important for a wife has same attitude towards money. It is really important for a wife has same attitude towards money.

]]> By: Saving Strategy: Bank your Raises/Extra Income | Million Dollar Journey http://www.milliondollarjourney.com/young-rich-and-retired-an-interview-with-qcash.htm/comment-page-1#comment-76734 Saving Strategy: Bank your Raises/Extra Income | Million Dollar Journey Thu, 09 Apr 2009 02:35:38 +0000 http://www.milliondollarjourney.com/young-rich-and-retired-an-interview-with-qcash.htm#comment-76734 [...] this same strategy helped QCash build his million dollar net worth and fund his early [...]

[...] this same strategy helped QCash build his million dollar net worth and fund his early [...]

]]> By: Kasm http://www.milliondollarjourney.com/young-rich-and-retired-an-interview-with-qcash.htm/comment-page-1#comment-76669 Kasm Wed, 08 Apr 2009 16:48:55 +0000 http://www.milliondollarjourney.com/young-rich-and-retired-an-interview-with-qcash.htm#comment-76669 With the downturn in the economy and the market down of 30-50%, I'd be interested in an update from Qcash - How have you investments held up? Were you were successful in converting all to dividend yielding recession resistant stocks and just living off the dividend? Has the market forced you to find alternate income sources? Just curious. Thanks With the downturn in the economy and the market down of 30-50%, I’d be interested in an update from Qcash – How have you investments held up? Were you were successful in converting all to dividend yielding recession resistant stocks and just living off the dividend? Has the market forced you to find alternate income sources? Just curious. Thanks

]]> By: Rental Properties - To incorporate or not to incorporate… | Million Dollar Journey http://www.milliondollarjourney.com/young-rich-and-retired-an-interview-with-qcash.htm/comment-page-1#comment-73239 Rental Properties - To incorporate or not to incorporate… | Million Dollar Journey Thu, 12 Mar 2009 11:30:38 +0000 http://www.milliondollarjourney.com/young-rich-and-retired-an-interview-with-qcash.htm#comment-73239 [...] is a young retiree and self made millionaire. He has built his net worth up to $1.5 million by the ripe age of 36.  QCash writes the occasional [...]

[...] is a young retiree and self made millionaire. He has built his net worth up to $1.5 million by the ripe age of 36.  QCash writes the occasional [...]

]]> By: Pilgrimage to Warren Buffett’s Omaha - Book Review and Giveaway | Million Dollar Journey http://www.milliondollarjourney.com/young-rich-and-retired-an-interview-with-qcash.htm/comment-page-1#comment-71585 Pilgrimage to Warren Buffett’s Omaha - Book Review and Giveaway | Million Dollar Journey Tue, 24 Feb 2009 11:30:14 +0000 http://www.milliondollarjourney.com/young-rich-and-retired-an-interview-with-qcash.htm#comment-71585 [...] This is another book review from, our favorite millionaire, QCash. [...]

[...] This is another book review from, our favorite millionaire, QCash. [...]

]]> By: No Hype - The Straight Goods on Investing Your Money: Book Review and Giveaway | Million Dollar Journey http://www.milliondollarjourney.com/young-rich-and-retired-an-interview-with-qcash.htm/comment-page-1#comment-68229 No Hype - The Straight Goods on Investing Your Money: Book Review and Giveaway | Million Dollar Journey Tue, 27 Jan 2009 11:30:40 +0000 http://www.milliondollarjourney.com/young-rich-and-retired-an-interview-with-qcash.htm#comment-68229 [...] asked QCash, the young and retired millionaire, to write a book review on No Hype - The Straight Goods on Investing Your Money.  Here is a great [...]

[...] asked QCash, the young and retired millionaire, to write a book review on No Hype – The Straight Goods on Investing Your Money.  Here is a great [...]

]]> By: Young, Rich, and Retired: An Interview with QCash « My Late 20’s http://www.milliondollarjourney.com/young-rich-and-retired-an-interview-with-qcash.htm/comment-page-1#comment-63058 Young, Rich, and Retired: An Interview with QCash « My Late 20’s Fri, 05 Dec 2008 13:41:55 +0000 http://www.milliondollarjourney.com/young-rich-and-retired-an-interview-with-qcash.htm#comment-63058 [...] 5, 2008 Young, Rich, and Retired: An Interview with QCash | Million Dollar Journey I’d like to introduce a fellow Canadian who has accumulated over $1.5 million dollars in net [...]

[...] 5, 2008 Young, Rich, and Retired: An Interview with QCash | Million Dollar Journey I’d like to introduce a fellow Canadian who has accumulated over $1.5 million dollars in net [...]

]]> By: Millionaires Corner: QCash’s Portfolio Holdings | Million Dollar Journey http://www.milliondollarjourney.com/young-rich-and-retired-an-interview-with-qcash.htm/comment-page-1#comment-59577 Millionaires Corner: QCash’s Portfolio Holdings | Million Dollar Journey Wed, 05 Nov 2008 10:31:05 +0000 http://www.milliondollarjourney.com/young-rich-and-retired-an-interview-with-qcash.htm#comment-59577 [...] another update from our favorite young millionaire, QCash.  For those of you who are new here, QCash is a self made millionaire who retired at the age of 36 [...]

[...] another update from our favorite young millionaire, QCash.  For those of you who are new here, QCash is a self made millionaire who retired at the age of 36 [...]

]]> By: Kaitlin http://www.milliondollarjourney.com/young-rich-and-retired-an-interview-with-qcash.htm/comment-page-1#comment-46152 Kaitlin Wed, 30 Jul 2008 16:58:04 +0000 http://www.milliondollarjourney.com/young-rich-and-retired-an-interview-with-qcash.htm#comment-46152 @newbie: I think it depends on the kids, too. I've been lucky enough to have everything paid for --as did both of my brothers--because education was a priority for my family. My grandmother always regretted that she didn't pursue university and always talked about the importance of education. My mom paid for everything herself (my grandmother was a single parent on a very tight income in the 1950s and on) when she was in university, but wanted my brothers and I to have every opportunity to pursue higher education without graduating under insurmountable debt. The result, at least for my family, is that all 3 of us worked very hard, got good grades and scholarships. I have a scholarship that pays for half of my tuition every year. My point: I think if you teach your kids the value of a dollar (as most readers of this site would, I imagine), they'll appreciate the gift of a free education and won't fritter it away. @newbie: I think it depends on the kids, too. I’ve been lucky enough to have everything paid for –as did both of my brothers–because education was a priority for my family. My grandmother always regretted that she didn’t pursue university and always talked about the importance of education. My mom paid for everything herself (my grandmother was a single parent on a very tight income in the 1950s and on) when she was in university, but wanted my brothers and I to have every opportunity to pursue higher education without graduating under insurmountable debt. The result, at least for my family, is that all 3 of us worked very hard, got good grades and scholarships. I have a scholarship that pays for half of my tuition every year.

My point: I think if you teach your kids the value of a dollar (as most readers of this site would, I imagine), they’ll appreciate the gift of a free education and won’t fritter it away.

]]> By: $1.8 Million Net Worth - How I Got From There to Here | Million Dollar Journey http://www.milliondollarjourney.com/young-rich-and-retired-an-interview-with-qcash.htm/comment-page-1#comment-46112 $1.8 Million Net Worth - How I Got From There to Here | Million Dollar Journey Wed, 30 Jul 2008 09:30:48 +0000 http://www.milliondollarjourney.com/young-rich-and-retired-an-interview-with-qcash.htm#comment-46112 [...] asked for him and now he’s back. QCash, the 37 year old retired millionaire, goes through his history of net worth updates to show us how he progressed to where he is [...]

[...] asked for him and now he’s back. QCash, the 37 year old retired millionaire, goes through his history of net worth updates to show us how he progressed to where he is [...]

]]> By: Cannon_fodder http://www.milliondollarjourney.com/young-rich-and-retired-an-interview-with-qcash.htm/comment-page-1#comment-22782 Cannon_fodder Wed, 16 Jan 2008 14:27:28 +0000 http://www.milliondollarjourney.com/young-rich-and-retired-an-interview-with-qcash.htm#comment-22782 Newbie, I'd say that unless you are going to include Masters and PhD pursuits or are going to an expensive school in the US, maximizing RESPs (right now $50k but certain to go up every several years because of the rising cost of tuition, books, lodging, etc.) that this will more than cover tuition, books and even provide some assistance if the child has to pay for lodging. AFAIK, there is nothing preventing someone from putting the full $50,000 in the RESP as soon as the child has a SIN. This would allow for 18 years of growth - at 8% CAGR it would quadruple. Newbie,

I’d say that unless you are going to include Masters and PhD pursuits or are going to an expensive school in the US, maximizing RESPs (right now $50k but certain to go up every several years because of the rising cost of tuition, books, lodging, etc.) that this will more than cover tuition, books and even provide some assistance if the child has to pay for lodging.

AFAIK, there is nothing preventing someone from putting the full $50,000 in the RESP as soon as the child has a SIN. This would allow for 18 years of growth – at 8% CAGR it would quadruple.

]]> By: newbie http://www.milliondollarjourney.com/young-rich-and-retired-an-interview-with-qcash.htm/comment-page-1#comment-22757 newbie Wed, 16 Jan 2008 07:28:27 +0000 http://www.milliondollarjourney.com/young-rich-and-retired-an-interview-with-qcash.htm#comment-22757 I'm very grateful to have a chance to learn from QCash and everyone else... If only I had been so motivated or aware at 14. I only have one thing to add to the conversation: From what I've read, and correct me if i'm wrong maximizing RESPs for 18 years will only cover half the projected cost of tuition in Canada... if someone is smart enough to attend an ivy league school lets hope they get scholarships, and if they start their financial education early hopefully they will be well on their way. I don't want my little ones to start their adult lives in debt the way my husband did (maybe I would have found a way to buy that investment property instead), but I can't but think about all the kids I knew in university. The ones that had everything paid for were often the ones who took the most for granted and wasted the opportunity. I’m very grateful to have a chance to learn from QCash and everyone else… If only I had been so motivated or aware at 14. I only have one thing to add to the conversation: From what I’ve read, and correct me if i’m wrong maximizing RESPs for 18 years will only cover half the projected cost of tuition in Canada… if someone is smart enough to attend an ivy league school lets hope they get scholarships, and if they start their financial education early hopefully they will be well on their way. I don’t want my little ones to start their adult lives in debt the way my husband did (maybe I would have found a way to buy that investment property instead), but I can’t but think about all the kids I knew in university. The ones that had everything paid for were often the ones who took the most for granted and wasted the opportunity.

]]> By: QCash on: Borrowing to Invest: My Exit Strategy? | Million Dollar Journey http://www.milliondollarjourney.com/young-rich-and-retired-an-interview-with-qcash.htm/comment-page-1#comment-20811 QCash on: Borrowing to Invest: My Exit Strategy? | Million Dollar Journey Wed, 26 Dec 2007 07:31:53 +0000 http://www.milliondollarjourney.com/young-rich-and-retired-an-interview-with-qcash.htm#comment-20811 [...] FrugalTrader05:00 amAdd comment QCash, the 37 year old retired millionaire, writes about his adventure in leveraged [...]

[...] FrugalTrader05:00 amAdd comment QCash, the 37 year old retired millionaire, writes about his adventure in leveraged [...]

]]> By: JD http://www.milliondollarjourney.com/young-rich-and-retired-an-interview-with-qcash.htm/comment-page-1#comment-18005 JD Mon, 26 Nov 2007 11:36:58 +0000 http://www.milliondollarjourney.com/young-rich-and-retired-an-interview-with-qcash.htm#comment-18005 Count me in amongst the people who can't understand how anyone can retire with only $1.5MM at the age of 36. I have more than that and I'm much younger and can't imagine retiring right now unless I wanted to live like a pauper. Since you're still young why not build it up to $5MM or $10MM so you can retire comfortably and not have to live on what amounts to a working-class income? Count me in amongst the people who can’t understand how anyone can retire with only $1.5MM at the age of 36. I have more than that and I’m much younger and can’t imagine retiring right now unless I wanted to live like a pauper. Since you’re still young why not build it up to $5MM or $10MM so you can retire comfortably and not have to live on what amounts to a working-class income?

]]> By: QCash on Investing in Second Mortgages | Million Dollar Journey http://www.milliondollarjourney.com/young-rich-and-retired-an-interview-with-qcash.htm/comment-page-1#comment-16135 QCash on Investing in Second Mortgages | Million Dollar Journey Thu, 08 Nov 2007 07:31:43 +0000 http://www.milliondollarjourney.com/young-rich-and-retired-an-interview-with-qcash.htm#comment-16135 [...] mortgages, I've gotten a good response from readers looking for more information. QCash, the retired 37 year old millionaire, has taken some of his time and written about his experiences with buying and holding second [...]

[...] mortgages, I've gotten a good response from readers looking for more information. QCash, the retired 37 year old millionaire, has taken some of his time and written about his experiences with buying and holding second [...]

]]> By: An Early Retirement Update from QCash | Million Dollar Journey http://www.milliondollarjourney.com/young-rich-and-retired-an-interview-with-qcash.htm/comment-page-1#comment-13660 An Early Retirement Update from QCash | Million Dollar Journey Thu, 04 Oct 2007 07:31:48 +0000 http://www.milliondollarjourney.com/young-rich-and-retired-an-interview-with-qcash.htm#comment-13660 [...] FrugalTrader05:00 amAdd comment Since our last interview QCash, the guy who retired @ age 36 with a net worth of over $2 million, we have received a tremendous [...]

[...] FrugalTrader05:00 amAdd comment Since our last interview QCash, the guy who retired @ age 36 with a net worth of over $2 million, we have received a tremendous [...]

]]> By: nobleea http://www.milliondollarjourney.com/young-rich-and-retired-an-interview-with-qcash.htm/comment-page-1#comment-11225 nobleea Wed, 29 Aug 2007 16:04:59 +0000 http://www.milliondollarjourney.com/young-rich-and-retired-an-interview-with-qcash.htm#comment-11225 FT; QCash mentioned that he would post his NW totals for the past 7 years if he could dig them up. Was that ever posted? It would certainly be neat to see. FT;

QCash mentioned that he would post his NW totals for the past 7 years if he could dig them up. Was that ever posted? It would certainly be neat to see.

]]> By: Reader Comments: Multiple Streams of Income | Million Dollar Journey http://www.milliondollarjourney.com/young-rich-and-retired-an-interview-with-qcash.htm/comment-page-1#comment-11200 Reader Comments: Multiple Streams of Income | Million Dollar Journey Wed, 29 Aug 2007 07:31:45 +0000 http://www.milliondollarjourney.com/young-rich-and-retired-an-interview-with-qcash.htm#comment-11200 [...] Q Cash thinks the ideal situation would be to have multiple streams of income, but all passive.  Good advice from the 37 year old millionaire.  [...]

[...] Q Cash thinks the ideal situation would be to have multiple streams of income, but all passive.  Good advice from the 37 year old millionaire.  [...]

]]> By: chrisw http://www.milliondollarjourney.com/young-rich-and-retired-an-interview-with-qcash.htm/comment-page-1#comment-4877 chrisw Mon, 21 May 2007 06:02:36 +0000 http://www.milliondollarjourney.com/young-rich-and-retired-an-interview-with-qcash.htm#comment-4877 Kudos to you Qcash! Congratulations on your success to date. I'm 37, married with two kids (5 and 3) and we're a single income family living in Calgary. We have a similar net worth (~1.8M) to you and your wife and started building our net worth about 10 years ago (~$50K when we started). Reasonable incomes for several years, diligent saving and investment strategies, a positive attitude and a little luck have helped us build what we have. Retirement continues to be a long way off for me, but I do have a 3 year target to increase our cashflow and allow me to exit my 9-5 job. More time for family is the primary goal for exiting the 9-5 workday. After that, building a business, as well as continuing with real estate and stock investments will be the focus. Cheers! Chris Kudos to you Qcash! Congratulations on your success to date.

I’m 37, married with two kids (5 and 3) and we’re a single income family living in Calgary. We have a similar net worth (~1.8M) to you and your wife and started building our net worth about 10 years ago (~$50K when we started). Reasonable incomes for several years, diligent saving and investment strategies, a positive attitude and a little luck have helped us build what we have.

Retirement continues to be a long way off for me, but I do have a 3 year target to increase our cashflow and allow me to exit my 9-5 job. More time for family is the primary goal for exiting the 9-5 workday. After that, building a business, as well as continuing with real estate and stock investments will be the focus.

Cheers!

Chris

]]> By: Ed Rempel http://www.milliondollarjourney.com/young-rich-and-retired-an-interview-with-qcash.htm/comment-page-1#comment-4646 Ed Rempel Fri, 18 May 2007 04:46:11 +0000 http://www.milliondollarjourney.com/young-rich-and-retired-an-interview-with-qcash.htm#comment-4646 Hi Q, Very inspiring! It's great to see someone making smart decisions with their money. I have 2 questions. Did you use leverage to get there? And how frugal are you and your wife? Do you actually live very inexpensive lives? Ed Hi Q,

Very inspiring! It’s great to see someone making smart decisions with their money.

I have 2 questions. Did you use leverage to get there?

And how frugal are you and your wife? Do you actually live very inexpensive lives?

Ed

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