Disclaimer: I am not a financial advisor. None of this is financial advice. I encourage you to do your own research.

The empty two-bedroom condo echoed as I walked along the hardwood floors and opened the balcony door. July’s oppressive heat hung heavy. Our second-floor unit looked out on a cluster of trees, some pine, a gentle reminder of the northern land I had left behind. Just one month ago we had given away everything no longer needed for our new down-sized life in Toronto. Salad spinners, pots and pans, backyard furniture littered our manicured front lawn with a ‘free’ sign. Neighbours were confused. Who just gives away perfectly good stuff?

“You sure you don’t want money for the couch?” one neighbour had asked.

“Please take it,” I said. “You’ll be doing us a favour.”

We took any extra clothing and kitchen items to Salvation army. Blankets, towels and pillows went to the Humane Society.

“I just love giving away stuff,” Victor said. “I feel so free!”

Finally, on a sizzling day in July we locked up the house one last time, placing our key in the lock box. We would spend two nights in a hotel in North Bay, then in Toronto, then move into our new place once our stuff arrived. We were back to living out of our backpacks in a hotel, and I was in my element.

Closing day arrived. I awoke nervously. What if the new buyers found an issue with the house and refused to close? What if we had to drive back? What if our lawyer made a mistake with the wire transfer and sent my 178k to someone else? I breathed calmly throughout the day as the clock ticked slowly.

Finally, a brief yet clear email from our lawyer: “House has closed. Will wire funds shortly.”

“Is the money there yet?” Victor asked over text.

“I don’t see anything,” I wrote as I refreshed my bank balance over and over. Nothing but a few dollars in my chequing account. Until…

“Holy crap it’s there!” I said aloud. “It’s there!!!” I texted Victor.

“OMG mine too!” he wrote back.

I sent him a giff of a champagne bottle popping, and went to put a real bottle in the fridge.

Even though I invested the 178k over two days, it was the largest single purchase of an index fund I had ever made. I used limit orders to ensure nothing went wrong with the purchase. While you will always get the ‘market price’, a random blip can shoot the market up or down seconds after you place your order, as the Canadian Couch Potato explains. To set up a limit order when purchasing, look at what the ETF is selling for. In July 2023 I was purchasing Vanguard S&P 500 Index ETF (VFV) which was selling for 106.37. I set my purchase price a few cents higher, at 106.40, to ensure there would be no issues with my purchase.

With the click of the button, my down payment, profit, and three years in North Bay was now invested in the S&P 500. My portfolio was now up to 940k, gaining by the day and churning out dividends every quarter. At the time of this writing two years later, the S&P 500 has risen and the Canadian dollar has fallen, resulting in a 38% return for VFV. My 178k investment has since grown to 245k, plus dividends. Sure there have been dips, but the 70k profit has endured, essentially paying back any money I spent renting over the last two years.

I am so glad we didn’t buy a condo.

Repeatable steps I took that you can too!

  • When using large amounts of money to buy or sell ETFs, always use limit orders to ensure you are setting a limit on the price. Justin Bender of PWL Capital has some great YouTube videos on how to purchase ETFs by using limit orders. His playlist can be accessed here.
  • Celebrate the wins and milestones along the way