Timeless Gem: 356 Emerald Street North

The American Can Company

The original occupant has a legacy of innovation

“No Canadian city offers better facilities for factories than Hamilton with its natural gas, cheap electric power, factory sites, shipping facilities, water and rail, labour conditions, blast furnaces and steel plants,” reported Macleans Magazine in 1911.

That same year, The American Can Company built a sprawling three-storey brick-and-beam factory at Emerald and Shaw, just north of the tracks. In the span of about 15 years, fellow U.S. corporate giants Westinghouse, Otis Elevator, Hoover Vacuum, National Steel Car, and Procter & Gamble set up shop in the Hammer.

About 600 locals staffed the factory creating cans made of steel. The Royal Connaught, built in 1914, housed American Can’s regional head office.

356 Emerald Street
The American Can Company Factory at Emerald & Shaw
The Royal Connaught Hotel, circa 1917

By 1911, Hamilton was Canada’s leading city for manufacturing. According to Maclean’s, it boasted:

  • an excellent harbour
  • 6 lines of boats making it a port of call
  • 6 steam railways
  • 4 suburban electric roads

In 1910, the value of building permits was $2.5 million (over $79 million in today’s dollars). It had increased by over $1 million ($31 million) since the previous year. There were 65 permits for new factories and factory additions in the city that year.

By 1911, Hamilton had 400 factories with an invested capital of over $40 million ($1.2 billion today), paying yearly wages of over $13 million ($405 million) and manufacturing $50 million ($1.5 billion) worth of products.

Maclean's article page on Hamilton — Canada's Manufacturing Centre
Maclean's Magazine, September 1, 1911
Incorporated in 1901, The American Can Company's culture of innovation lead them to develop:
  • a method of mass-producing tin cans by replacing hand-soldiered joints with mechanical crimping
  • an enamel lining to protect certain food from discolouration
  • a double-tight friction paint can lid to keep remnants from drying out
  • an improved process for vacuum-packing coffee
American Can Company Ad

'The Miracle of the can' (1956)

This hour-long film is among my top five favourite mid-century American can documentaries. There’s a “How It’s Made”-worthy sequence starting at 19:05, but if you skip through to it, you’ll miss some thought-provoking orchard-based dramatizations.

The American Can Company found such success at the Emerald Street site that they eventually outgrew it and moved production to the former Sawyer-Massey Company factory, north of the railway tracks between Wellington and Victoria.

The former Sawyer-Massey Company Factory

Fun Fact: The American Can Company is not a Canadian company. It’s an American (can) company. But in addition to dozens of American facilities, The American Can Company built facilities in Montreal, Simcoe, Chatham and Hamilton. Here’s the Montreal factory, then and now, plus a pic of a 1925 delivery truck in Montreal. Looks like American Can created buildings that were meant to last (and snazzy trucks).

The American Can Company building in Montreal
The American Can Company building in Montreal
The American Can Company building in Montreal

American Can had a facility in New Orleans, too, until it shut down in 1988. Now, the building has been rechristened American Can Apartments. The leasing agent told CBC’s Paul Wilson that former employees come by to see the place. The factory ran around the clock, and 1,500 workers could turn out 5,000 cans an hour. They say the most common injury was sliced fingers. 

The apartments feature factory-scarred original hardwood floors and 16-foot high ceilings. An outdoor pool and patio replace the ruins of the back portion of the plant, which suffered fire damage while the building was abandoned.

Modern house

RAHB realtors release April 2022 market statistics

The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,298 sales of residential properties located within the RAHB market area through the Multiple Listing Service® (MLS®) System in April 2022.

  • Sales were down by 20.7% month over month, and down by 31.3% compared to April 2021.
  • There were 2,451 new listings in April, which was down 3.6% month over month, and compared to April 2021, there was a decrease of 7%.
  • The average sale price for residential properties across the RAHB market area was $1,013,081, which was down 5.6% over the previous month, and up 18.2% compared to April 2021.
  • The inventory of listings increased to 1.2 months of inventory in April compared to 0.7 months in March. READ MORE >>


Luxury home in Hamilton, Ontario

April listings: Hamilton’s most and least expensive homes on the market

This month price tags varied from the low end of $399,000 to $3,999,999

view from hammock of feet

Here’s How Much Money You Need When You Retire

Surely you have made some plans for your next vacation, listed the locations, browsed the options and estimated the costs but have you considered saving for your retirement?

Most millennials might shrug it off as a stage that will appear in a few decades but that’s why you need to ask yourself a few questions – how much do you need to retire at 50/60 or 70?

How do you know if you are financially ready for retirement and how can you invest for the future without being stingy about your present.

You are not alone, 64% of Canadians think they won’t be able to save enough for their retirement. Yes, it is shocking but there is a cure – plan ahead and start investing your savings as soon as possible!

This article will help you determine how much money you need for retirement in Canada. We will also explain the benefits of investing early. Let’s get started.

How Much Money Do I Need To Retire?

Here are some questions to help you determine the retirement income you need:

  • When do I want to retire? – It’s simple math; the earlier you want to retire, the more you’ll have to save every year.However, things like life expectancy and general retirement age play a vital role in this equation. For instance, you might want to retire early at 50 but the average life expectancy is 75 years. In such a scenario, you will have to save 25 years’ worth of retirement funds.
  • Where do I want to live after retirement? – Whether you dream of spending your retirement by the beach or living in the city also determines how much you need. This is because the expenses needed to maintain the property where you live change according to the location.
  • What will my expenses be? – The general rule of thumb is that you will need 70-100% of your current income to maintain a similar lifestyle post-retirement. However, this can change based on the lifestyle you want to maintain in your retirement days.For example, you might want to slow down and live a simple life. In that case, you would need less than 70-100% of your current income.
  • How much income will I generate? – Perhaps the most critical question to answer is how much money you’ll be able to earn after retiring. Knowing this figure will help you stay prepared and develop a plan that caters to all your desires.

50% of millennials think they need $300,000 or less to retire in comfort. In reality, that figure could be much higher or much lower. The 70 percent replacement rate is a typical rule of thumb to estimate how much money they need for retirement.

Even then, it’s essential to always have more for emergencies and personal requirements because consistent investments of savings can give you the freedom and control to live life exactly how you want.

As per the Canadian Pension Plan(CPP), one of the Canadian citizens’ main retirement income programs, the average Canadian Pension Plan retirement payout person is approximately $8,500.

If you meet the CPP criteria, the maximum monthly payout for CPP that you can expect to earn is $1,203.75, whereas on average, the payout has been $736.58 in 2021.

While the retirement income generated through CPP helps increase your retirement funds, it’s not enough. Thus, it’s essential to plan for retirement without banking on the CPP income and using it as an emergency fund in case things don’t go as you had planned.

If you want a more specific figure based on your particular requirements, you can also consider using a retirement calculator. 

Why You Should Start Investing Early

While the figure might vary based on requirements and circumstances, you cannot rely entirely on your salary to save a substantial amount of money for retirement.

This is because one cannot build wealth merely by earning an income. Instead, to amass a significant amount of money, you need to make money work for you through active and passive investing.

When you start investing early, you can enjoy the following benefits:

  • Compounding – With the help of compounding, you can make your money grow faster as you earn interest on your savings and the interest that you’ve earned.
  • More savings – By investing early, you can develop a habit of saving more and investing your savings.The more you invest, the more returns you’re able to get in the future. Moreover, by developing the habit of saving, you can also learn how to cut down on unnecessary expenses and use those funds for investing.
  • Time value of money – The time value of money increases over a period as investing early leads to compounding returns. At the time of retirement, these early investments can reap huge benefits.
  • Understanding finances early – By investing early, you enter the world of finance at an early age and have more time to learn and improve your investment skills and knowledge.
  • Regular investments and Diversification – You don’t need to look for shortcuts to get rich quickly since you have time on your side.You can follow tried and tested practices such as portfolio diversification and investing regularly to build your wealth over decades.
  • More ability to take risks – When you start early, you don’t have much to lose. Hence, you’re able to make more risky investments, and as the old saying goes, ‘more the risk, more is the reward.’Thus, by taking more risks, you can also increase your chances of earning exponential returns.
  • Supporting your retirement plans – By saving for retirement from a young age and investing early, you also increase your chances of reaching financial stability when you’re young.Early investments will boost your retirement funds, and you’ll be able to lead a happier life post-retirement.


While ‘how much money do I need to retire’ is a simple question, the answer is quite complicated. When it comes to determining how much money is needed for retirement, no one size fits all.

As everyone has different needs and wishes, every retirement is not the same, and hence, it’s vital to plan accordingly.

Many millennials struggle to make sound financial decisions at an early age. If you’re looking to achieve your long-term financial goals to support your financial plans, feel free to contact info@buyproperly.com.

BuyProperly enables millennial investors to build their portfolios with the best real estate investment opportunities in a hassle-free and secure manner.

A selection of luxury watches

Grow Your Wealth While Managing The Risks With Diversification

Every investment carries some amount of risk. Since markets can be volatile and unpredictable, diversifying your portfolio helps maximize returns over the long term as well as better protect yourself against unexpected market downturns.

This article will talk about what diversification is, its importance, and how you can diversify your investment portfolio. Moreover, we will also shed some light on the benefits of illiquidity and how real estate investments can help you enhance your returns.

Let’s get started!

Diversification: Why It’s Crucial for Your Portfolio?

Diversification is the most crucial step in risk management. It is the investment technique of holding unrelated investments across asset classes that react differently to social and economic events.

Diversification is a technique that is crucial for investors to reach their long-term goals as it enables them to hedge against unsystematic risk and build wealth over a period across different asset classes. Using diversification, an intelligent investor reduces the risk by planning carefully and allocating funds across various asset classes.

For instance, in a growing economy, stocks generally outperform bonds. However, when market conditions change, bonds hold their value, whereas stock prices tumble. Thus, if a smart investor diversifies their investment portfolio and holds both stocks and bonds, they can reduce their overall exposure to such change in market conditions and mitigate the risks of their portfolio taking a big hit.

Investment Portfolio Diversification: How to Achieve it?

An investor can diversify their portfolio by using the asset allocation strategy, which involves selecting a combination of investments based on the investors’ risk profile, financial goals, and time horizon.

Each asset class available to investors have different risk-reward ratios, and thus, each performs differently in varying market conditions. For instance, while stocks are more volatile and risky in comparison to bonds, they also offer the potential for higher returns.

Some of the standard asset allocation classes include the following:

  • Equities (Stocks and ETFs)
  • Fixed Income Bonds
  • Real Estate
  • Gold
  • Cryptocurrency
  • Collectables
  • Cash and cash equivalents

Diversified Portfolio Example

Source: Cary Stamp & Co.

While diversification is essential, it’s equally important not to over diversify. The best way for an investor to do so is to keep their portfolio at a manageable level that varies for each investor based on their financial goals and risk profiles. For instance, avoiding diversification for some investors could mean only holding six assets in different industries that they are confident about. Whereas, for others, it could mean avoiding investment in certain asset classes that they don’t understand, just for the sake of diversification.

The Benefits of Illiquidity

Liquidity refers to the ease with which an asset can be converted to cash and cash equivalents without losing market value. In general, it is seen that liquid assets such as stocks are more volatile in nature. Thus, to capture the benefits of illiquidity, long-term investors may prefer allocating funds towards illiquid assets.

Typically, illiquid assets have a low correlation to the broader stock market, and thus, they are less volatile in nature, and their value remains stable over a more extended period. As a result, such investments are considered low beta investments that are less risky but offer lower returns. As a result, such investments help minimize portfolio losses when the market sees a downturn.

How to Enhance Portfolio Diversification Using Real Estate

Real Estate Investment is the process of purchasing property to either rent it out or sell it to make a profit. As an asset class, real estate is mainly used for diversification purposes and has helped investors amass generational wealth.

Diversifying your portfolio by investing in real estate offers the following benefits:

  • Long-term stability – Real estate market is seen as one of the most stable financial markets. Thus, real estate investment is considered to be a less volatile and stable long-term investment opportunity.
  • Usability – Real estate is a tangible asset that investors can use for renting out or for personal use. For example, real estate bought for diversification purposes can be rented out and used to generate additional income.
  • Mitigating Risks – Real estate is an illiquid asset and thus, is not highly correlated to the stock market. Hence, many investors use real estate to hedge their risks against more volatile assets in their portfolios.
  • Tax Benefits –  Governments in many countries offer tax benefits on real estate investment to promote the sale of properties in the country and boost the economy.

Additionally, there are many different ways through which investors can invest in real estate. They are as follows:

  • Real Estate Investment Trusts (REITs) – REITs enable investors to invest in real estate even with small amounts of money. Shares of REIT stocks can be bought and sold in the market just like any other publicly listed company.
  • Crowdfunding Real Estate Platforms – These online platforms let investors take a more hands-on approach and invest in specific real estate development projects.
  • Investing in Rental Properties – Purchasing rental properties enables investors to add an alternative source of cash flow and earn some additional monthly income.

Important Questions to Ask About Your Portfolio Diversification

To diversify your portfolio successfully, an investor first needs to understand the fundamentals of diversification and ask the right questions to evaluate how these fundamentals apply to their specific portfolio.

Here are some critical questions about your portfolio diversification to evaluate your diversification strategy and make more informed choices.

  1. What is my risk tolerance? – This changes according to investment objectives and time horizon. Each asset class has different risks. Hence, investors must choose an asset class that is suitable to their risk tolerance.
  2. What is my risk-adjusted rate of return? – This question answers how well you are being compensated for the amount of risk you’re taking.
  3. How many asset classes should I invest in? – While diversifying your portfolio, it’s important to look for a wide range of asset classes.

Closing Thoughts

As an investor, to achieve your long-term financial goals, you need to balance your risk and reward. Diversification allows you to choose a mix of assets that reduce the risk of losses in the market. Thus, it’s essential to find the right balance between risk and return and select a mix of assets that can help you achieve your financial goals while limiting your exposure to unsystematic risks.

house for sale sign

Changes including opt out choice on blind bidding coming to home buying in Ontario

The Canadian Press, April 19, 2022

TORONTO — The Ontario government is giving property sellers the option of disclosing the details of competing offers, but not going as far as to ban blind bidding.

Minister of government and consumer services Ross Romano said in a statement that sellers will get to choose if they want to “opt for an open offer process” and share bids.

“Sellers will no longer be limited to selling their property through a closed or traditional offer system,” he said.

Blind bidding, a practice where buyers bid for a home without knowing the size of competing offers, is pointed to by some as one of the drivers behind inflated home price gains. READ MORE >>

OpenSea, NFTs and Ethereum Explained

Here is everything you always wanted to know about NFTs but were afraid to ask. We’re breaking it all down into small chunks with clear examples and explanations in plain language.
By JC Villamere


OpenSea is an online store that sells NFTs. It bills itself as the world’s largest NFT marketplace.


NFT stands for Non-Fungible Tokens. They are a type of interchangeable commodity. NFTs can represent any object, such as art, music, trading cards, collectibles, digital content, etc.

Whether you’re trading, owning, researching, or collecting, trading cards can be a lot of fun — and a good investment!


A commodity is any product that can be bought and sold.


A loonie is an example of a fungible good. Each loonie has the same value as any other loonie.

A cob of corn is another example of a fungible good. When you buy a cob of corn, you are buying any cob of corn. Each cob has the same value.


Forge & Foster is excited to announce its first NFT collection
On March 30, on OpenSea, we unveiled a rare offering of NFTs based on “Mostly Arrows”, an excellent example of fine art by Lester Coloma, a gifted, established contemporary artist. The Forge & Foster X Lester Coloma NFT Collection is not our first collaboration with Coloma: He has graced several of our projects with his murals.

At 1 West Ave. in Hamilton, you can view his stunning mural, “Rise”. At 400 Wellington St. N., you’ll see “The Electric City”. Coloma’s mural at 150 Chatham St. pays homage to local innovation and discovery. Born and raised in the Hammer, Coloma is a graduate of the Ontario College of Art & Design. Look for his work at the upcoming sale at the Art Gallery of Hamilton, April 28—May 1.

Some NFTs include prints of Coloma’s work. Some NFTs include other incredible bonuses. We can’t wait to reveal them to you! Buy now >>



Art is a non-fungible good. Each work of art does not have the same value. When you buy a work of art, you are buying one particular work of art. Each piece of art has a different value.

A house is non-fungible. Not all houses have the same value. When you buy a house, you are buying one specific house.

NFTs are non-fungible. When you buy an NFT, you are buying one particular NFT. Not all NFTs have the same value.

Lawren Harris’ work of art, “Mountain Forms”, sold for $11.21 million in 2016. Unfortunately, the works of art on my fridge are worth less money.


A token is a thing that represents value. Vouchers and gift cards are examples of tokens.

Imagine you receive a voucher for a free ice cream cone. The voucher represents the value of an ice cream cone.

When you buy a token for the subway, the token represents the value of a subway fare.

An NFT is a token that represents a value. Each NFT has a different value.

Before they were phased out in 2019, tokens like these represented the fare of a trip on the TTC.


Ethereum is a type of blockchain.


A blockchain is a digital ledger that everyone has access to.


A ledger is a record-keeping system for financial accounts. Most ledgers are kept electronically now using tools such as MS Excel and Google Sheets.

Here, Scrooge McDuck leans on his old-fashioned, paper-based ledger.

Now you’re ready to learn about MetaMask!


Decentralized Finance

Decentralized Finance: How DeFi is Revolutionizing Real Estate

This video explores how DeFi is revolutionizing real estate. You’ll learn:

  • How DeFi is shaping real estate investing
  • How DeFi is turning mortgages and lending head over heels
  • How real assets can now exchange hands via digitized tokens even NFTs

It’s hosted by BuyProperly CEO Khushboo Jha and her guest is Ben Ames, who’s a partner at Forge & Foster, and the founder and CEO at REIF Financial Investments.

Get in on that Staycation Tax Credit with these hot destinations

What’s the deal with that staycation tax credit?

The temporary Personal Income Tax credit lets you claim eligible accommodation expenses if you’re an Ontario resident.

You could get back up to 20% on eligible accommodation expenses for stays this year at hotels, motels, lodges, bed-and-breakfasts, cottages, campgrounds and other short-term accommodations in Ontario that charge GST/HST.

Find out all the details here.

Okay, I’m in for that sweet tax credit deal! So where should I go?

Get the NYC experience right here in the Hammer: Experience a New York-style loft located in downtown Hamilton!

  • A very spacious 2,600 square feet
  • 4 guests, 2 bedrooms, 2 beds, 1 bath
  • The GO Station is just steps away
  • Walking distance to major attractions like:
    • Dundurn Castle
    • the Art Gallery of Hamilton
    • Tim Hortons Field

Get all the details and book this Airbnb today >>

Looking for something more outdoorsy? 

Book a getaway at Harmony Resorts

Glamping! Cottages! Cabins! Tiny Cottages! Seasonal Sites! Campsites! Harmony Resorts has it all.

There’s never been a better time to enjoy all that Ontario has to offer. So make your staycation plans today!

How to Build Wealth in Your 30s: Simple Steps to Become Financially Free

How to Build Wealth in Your 30s: Simple Steps to Become Financially Free

“Financial freedom” is becoming a buzzword nowadays, but what does it actually mean? When it comes to learning how to build wealth in your 30s, patience, persistence, and a solid plan are at the root of this new financial freedom movement.

Here are 6 simple tips to get you started on the road to wealth-building and financial independence.

Let’s dive in!

1. Make a budget (and live within your means)

The first step to building wealth in your 30s (or at any age for that matter!) is to make a budget and stick to it.

Many people never realize how much money they’re actually spending each month and how much could be saved by simply creating a budget and learning to consciously live within their means.

How should you create a budget? Here’s a simple guide to follow:

  • Calculate your total net income for both you and your partner: make sure to build your budget based on your take-home pay each month.
  • Calculate all your fixed expenses: this includes all the expenses that are predictable and stay consistent each month like your mortgage, rent, insurance, car payments, etc.
  • Calculate all your variable expenses: variable expenses include all of your discretionary spending and bills that change from month to month like groceries, dining out, utilities, and leisure activities.
  • Set aside money for debt repayment and wealth-building: Ideally, you should be able to set aside between 10-20% of your net income for debt repayment, savings, and investing.

If you don’t have any wiggle room in your budget, start looking for fixed and variable expenses you can cut back on. Here are some ideas to keep in mind:

– Are there any subscriptions you’re not using? Netflix, Amazon, and that old gym membership may seem like nothing, but those monthly subscriptions can really add up! Take a look at where you can cut back to save some extra money.

– Are you paying high interest rates on any loans? Credit card debt can cost thousands in interest charges, so it’s always best to prioritize those high-interest loans when repaying debt. If you’re struggling to make a dent in your loan, call the bank and ask what your options are for lowering the interest rate.

– Have you shopped around for new insurance rates lately? Car, home, and life insurance premiums can creep up without us ever noticing. If it’s been a while since you’ve looked into those payments, it may be worth shopping around to see if you can find a better deal.

– Is dining out eating up all your extra cash? After work, it can be tempting to grab a ready-made meal or takeout from a local restaurant. If you’re spending a lot of your monthly income at restaurants, look into cost-effective options like batch-cooking and meal prepping.

Learning how to build wealth in your 30s isn’t always about making more money. Sometimes the quickest and easiest way to find extra money is to take a good hard look at what you’re spending and find creative ways to save!

How much money should 30-year-olds have saved?

There’s no right or wrong answer for how much you should have saved by the time you turn 30 since it depends on your income, lifestyle, and the wealth-building opportunities available to you.

Most experts suggest saving 10-20% of your pre-tax income each month for retirement. According to Statistics Canada, as of 2020, the average salary for Canadians was $54,630. This means $455-$910 would be an ideal amount to put towards savings each month.

If you’re just getting started at 30 and you’re able to invest $900 each month in accounts or investments that yield a 5% annual return, you would have just over $980,000 by the time you’re ready to retire at 65!

2. Pay off debt as quickly as possible

Debt can rack up some serious interest payments that eat into your potential wealth-building opportunities. According to BNN Bloomberg, as of December 2020, Canadians now owe $1.71 for every dollar of disposable income they have to spend.

What’s the hidden cost of high-interest debt? Let’s say you have credit card debt totalling $10,000 at an 18% interest rate. If you decide to pay $200 towards this debt, it will take 94 months to pay off AND cost you $8,622 in interest.

If you decide to increase that payment to $400 per month, your credit card will be paid off in 32 months and you’ll pay only $2627 in interest.

That means you’d be saving $5,995 which could be put towards savings, retirement, or investments that will help grow your wealth over time.

If you’re battling with high-interest loans and credit card debt, one of the fastest ways to pay it off is by focusing on the highest-interest loan first (a.k.a. “The Avalanche Method”). This method for debt repayment frees up more cash month-over-month as you continue paying down those debts.

3. Work on your money mindset

So many have us have been conditioned to believe we can’t be wealthy or that only a select few people are lucky enough to be financially secure.

Although it’s important to acknowledge the privilege of being able to work full time, earn an income, and invest in various financial markets, it’s also important to realize that it’s never too late to start investing and growing your wealth.

The first thing you can do to get comfortable with money is to start talking about it. Open up a dialogue with family and friends about savings and retirement. Talk with coworkers about financial resources available through your employer. Find financial advisors and professionals who can teach you how to build wealth in your 30s and deconstruct some of the money myths you believe.

The quickest way to change your mindset about money is to surround yourself with people, conversations, and thoughts that are different from your own.

If you’re willing to challenge some of the long-held beliefs you have about money, you’ll find new and amazing opportunities to start building wealth and take steps towards becoming financially free.

4. Learn as much as you can about investing

Everyone knows the power of smart investing, but many people are too intimidated to take the first step to get started. After all, where should you put your money? Stocks? Bonds? Real estate?

The fastest way to grow your wealth is to get educated about investing so you can make informed financial decisions.

What can you do to learn?

  • Read books

One of the simplest ways to learn about investing is to go to the local library or book store to find some books on budgeting, saving, and investing. Here are some great books to start with:
– The Intelligent Investor: The Definitive Book on Value Investing
The Book on Rental Property Investing
– Investing in Your 20s & 30s For Dummies

  • Join supportive communities

Eager to dive in and talk about investing? Find local or online communities you can join to learn all about investing. If you don’t have any business clubs in your area, look online on Reddit or Facebook for supportive communities to join. Here at Forge & Foster Investment Management, you can engage with us on Twitter, Facebook, Instagram and LinkedIn.

  • Speak with financial professionals

Take advantage of all the professional wealth-building advice you can. Book an appointment with a financial advisor at your bank. Talk to your employer to ask about RRSP opportunities. Meet with an accountant to discuss ways you can find more money in your budget to invest.

  • Attend seminars and/or events

Going to local events is a fantastic way to learn valuable financial skills and network with like-minded investors. Not sure where to find events in your area? Simply head to Google and look for investment conferences, business groups, and meetups in your local area.

The more you educate yourself about money, the more opportunities you’ll find to build your wealth.

5. Diversify your portfolio

Many of us have heard of the saying “don’t put all your eggs in one basket” and this is absolutely true when it comes to building long-term wealth. Diversifying is one of the best ways to ensure you’re protecting your money.

What does diversification look like? Simply put, diversifying your portfolio means investing in a variety of different industries, sectors, and asset classes. This could include stocks, bonds, real estate, currencies, and more.

Diversification is a key component to building wealth because it allows you to spread your money around to mitigate risk and better predict expected growth.

While investing in something like Bitcoin may bring some temporary gains, it can also be extremely volatile. Balancing out those volatile investments with the long-term appreciation from rental properties, for example, would create a more stable portfolio.

BuyProperly helps new investors get started in real estate investing for as little as a $2,500 initial investment. Learn more at www.buyproperly.ca.

Speak with your financial advisor about different ways you can diversify your investments for maximum growth.

6. Remember to be patient

Building wealth doesn’t happen overnight: it takes time, dedication, and patience to see the best results.

One of the biggest secrets to wealth-building is the compounding effect that comes from reinvesting your money over time. The more returns you’re able to reinvest in the market, the higher your earnings will be! This snowball effect is what creates stable, long-term opportunities.

Don’t get discouraged if you can only invest a small amount of cash at the beginning, or if your investments don’t make you a millionaire overnight. The key is to make smart financial decisions that will set you up for long-term wealth and success.

If you follow these simple wealth-building tips, you’ll be one step closer to financial freedom.

Want to learn more about how to build wealth in your 30s?  BuyProperly is on a mission to make real estate investing accessible for everyone.

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