Highlights:
- Formal education doesn’t equal personal finance education - and the blunder that cost them big time
- Strategies that grew their portfolio to around $6 million
- Their plan for minimizing taxes to preserve their wealth
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Qin Kai shares his story about immigrating to North America from China, the simple rules that helped him grow his wealth, coming back after a big loss, and how he’s building wealth for his children.
Let’s look at the numbers
I was born in China in the 1970s, moved to North America in my mid-20s, and I’ve been here ever since.
Now at 50, my wife and I have built a financial portfolio worth around $6 million, with approximately $900,000 in liabilities like a mortgage and other credit lines.
How did you start investing?
I’ve always been fascinated by investing. Working in IT consulting exposed me to tools and strategies for managing money.
Over the years, I’ve tried several platforms in both the U.S. and Canada. When I was in the States I started using M1, which made portfolio construction and auto-rebalancing straightforward.
I was looking for something similar in Canada, and that’s how I found Passiv.
The best advice you ever got about investing was…
“Don’t be greedy, and don’t panic.”
These simple rules keep me grounded, no matter how the market behaves.
What resources did you use to learn about self-investing?
I highly recommend A Random Walk Down Wall Street by Burton Malkiel.
It opened my eyes to the power of simplicity and patience in investing.
What’s your investing process and strategy?
I follow a straightforward “buy-and-hold” strategy for long-term growth.
I also use the “Buy, Borrow, Die” strategy to limit taxes through strategic investing and planning.
Do you have a favorite ETF?
In the U.S., I’m a big fan of SPY and QQQ because they capture the innovative spirit of the American economy.
I’m currently working on developing my ideal Canadian portfolio - I’m looking for good dividends in CAD, without heavy tax implications.
How do you deal with the ups-and-downs of investing?
Stay the course. It’s as simple - and as hard - as that.
Did you ever make a mistake with investing? What did you learn from it?
My wife took over managing a Robinhood account. She went 10x leveraged and lost 60% of the portfolio’s assets.
This was a hard lesson in the risks of overconfidence and leverage.
Her brilliant academic background didn’t translate into smart financial decisions - just proof that formal education isn’t everything when it comes to investing.
The advice I’d give to someone who wants to build wealth through investing is…
Start investing as early as you can, even if you’re only scraping together a small amount.
I should have started 10 to 15 years earlier, but I didn’t have enough money left over to start investing back then. My kids are 20 and 21, and I have their portfolios set up on Wealthsimple.
Dollar-cost averaging (DCA), staying patient, and avoiding panic or greed are key.
Wealth-building is a marathon, not a sprint. Don’t expect to get rich immediately - it happens slowly and steadily.
Passiv makes managing your portfolio a breeze.
Buy all your ETFs in a couple clicks, get notified of cash to invest, & see clear reports that show all your investments in one place!
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* Names have been changed for privacy. The thoughts and opinions in this post are from the individual and their own experience.
