What’s On My Reading List For 2016
I don’t know if I’d describe myself as a voracious reader, but I do enjoy a good book and like to read the latest on personal finance, investing, behavioural finance, and leadership or motivational topics. In fact, this year I found myself putting down my phone or laptop more often and picking out a good book to read…
Read MoreWeekend Reading: 2015 Farewell Edition
With the year quickly winding down I wanted to publish one final edition of weekend reading before we break for the holidays. Expect to see new articles published here on Monday and Wednesday for each of the next two weeks before we get back to our regular posting schedule in the new year. In the meantime, thanks for reading and…
Read MoreWhat Sean Cooper Really Achieved By Paying Off His Mortgage In 3 Years
Sean Cooper didn’t just pay off his $255,000 mortgage in three years; he taught us all a lesson in personal branding. Mr. Cooper, a pension analyst by day, mild-mannered blogger by night, took an almost Machiavellian-like approach by achieving fame through mortgage freedom. Buying a home in one of Canada’s most expensive cities at the…
Read MoreEasy As ABC? Understanding Different Mutual Fund Classes
Mutual funds have been a popular investment vehicle for a long time. There are currently over 5,000 mutual funds available in Canada and, according to the latest figures from The Investment Funds Institute of Canada, 33% of Canadian households are invested in them. Mutual funds are offered in different series or classes, which are identified by…
Read MoreBudgeting For Irregular Expenses
I’m about to build our household budget for 2016, which is to say that I’m going to take a copy of our 2015 budget, adjust the expenses for inflation (and necessity), and simply plug those numbers into an Excel spreadsheet. It’s easy to forecast our expenses for the next year when five years of spending history is…
Read MoreWeekend Reading: Clarifying New Rules Edition
The new federal government has proposed changes that will affect your personal finances next year. This edition of weekend reading looks to explain these changes and how they might impact your wallet. Let’s get to it: Minimum Down Payment Increase This week the Liberals introduced changes for minimum down payments on a home purchase. The new rules,…
Read MoreAn Expensive Degree Landed A Better Career: A Boomer & Echo Financial Makeover
James Turik, 38, owns a sparsely furnished, two-bedroom condo unit in a trendy downtown neighbourhood. He plundered his RRSP as well as his other savings for the down payment. “Now that things are freeing up,” James says, referring to his healthier financial situation, “obviously, I have to start putting money away again.” After working in…
Read MoreThe Real Cost Of Bad Habits
This is the time of year when people take stock of their lives and vow to start the new year with a change of habits: stop smoking, exercise, eat better, take care of finances. And yet the majority will fail to keep up with the changes within the first month. Bad habits have both a…
Read MoreCanadian Mutual Funds: A Steep Price For Underperformance
Investors in Canadian mutual funds pay a steep price for underperformance. In a 2015 Morningstar report on mutual fund fees, Canada ranked dead last among 25 nations – with expense ratios on equity mutual funds averaging 2.35 per cent in Canada versus an average of 0.84 per cent in the United States. Couple that with…
Read MoreWeekend Reading: Financial Literacy Edition
November was financial literacy month but you wouldn’t know it from any specifically promoted ‘literacy’ articles on this blog. I take issue with the way banks and investment firms try to shoe-horn their way into the financial literacy curriculum when a good portion of the content should be about educating Canadians on how to become savvy…
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