Weekend Reading: 2021 Financial Goals Edition
I wasn’t sure what to expect when I quit my job last year to focus on blogging, freelance writing, and my fee-only financial planning business. My top priority was to make sure we were able to maintain our current spending and savings rate. In other words, I didn’t want this transition to have any negative…
Read MoreHow Has Your Food Spending Changed During The Pandemic?
The Consumer Price Index (CPI) measures changes in prices paid for a basket of goods and services (i.e., inflation). For the past three decades the Bank of Canada has successfully targeted an inflation rate of between 1% and 3%. The latest figures show year-over-year inflation at 1.9%. But as you know, our personal inflation rate…
Read MoreWeekend Reading: $100,000 Lifetime Loss of CPP Edition
Fewer than 1% of eligible recipients choose to take their CPP benefits at 70. Most Canadians take CPP at age 60, as soon as they’re eligible, perhaps unknowingly giving up substantial lifetime income. Dr. Bonnie-Jeanne MacDonald, Director of Financial Security Research at the National Institute on Ageing, wants to change the conversation around when to…
Read MoreWeekend Reading: 0.99% Mortgage Rate Edition
HSBC Canada made history this week when it announced a 0.99% mortgage rate – the lowest advertised rate ever offered in Canada. The 0.99% mortgage rate is available for high-ratio insured purchases (i.e. for those putting less than 20% down). It’s not a fixed rate, but a steeply discounted variable rate of prime minus 1.46%.…
Read MoreRe-introducing the Scotia Momentum Visa Infinite Card
Long before I started travelling and collecting travel rewards, I used a cash back credit card for my everyday spending. I loved to collect cold-hard cash back on every purchase and then use the rewards to fund a short-term goal, like a family vacation or a weekend away with my wife. My go-to card for…
Read MoreWeekend Reading: Best All-In-One ETFs Edition
I’m a big fan of all-in-one ETFs and indeed invest my own money in Vanguard’s VEQT – the 100% equity version of its all-in-one balanced ETFs. These ETFs are a game changer for self-directed investors who want to invest in a low cost, broadly diversified, and automatically rebalanced portfolio. Vanguard was first to launch its…
Read MoreHealth And Dental Insurance – Not Really Insurance
This article was originally published several years ago and written by insurance expert Glenn Cooke. I’ve received many questions from clients and soon-to-be retirees asking about losing their employer health insurance coverage, so I’ve decided to re-publish this excellent piece today. Many years ago I was working as a student actuary pricing health insurance and…
Read MoreWeekend Reading: When To Take CPP Edition
Last week I previewed Fred Vettese’s completely updated and revised edition of Retirement Income For Life. I’m giving away an extra copy of the book and asked readers to enter to win by sharing when they took (or plan to take) CPP. The results were interesting. The vast majority of responses were in favour of…
Read MoreWeekend Reading: Retirement Income For Life Giveaway Edition
Fred Vettese is one of Canada’s leading retirement planning experts. The former chief actuary for Morneau Shepell spent his entire career working within Canada’s retirement income system. He’s written three books on retirement, including The Real Retirement, co-authored with former Finance Minister Bill Morneau, and The Essential Retirement Guide: A Contrarian’s Perspective. Mr. Vettese’s latest…
Read MoreWeekend Reading: Airbnb Resurgence (and IPO) Edition
Our kids were off school during Thanksgiving week so we took a much needed mini vacation to Canmore / Banff. There were plenty of deals to be found that week and so we splurged on a penthouse condo with a private hot tub (through Airbnb). It was so nice to get away from the mundane…
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