Truth be told, it took me a very long time to realize that banks are a tool that will help me achieve my personal finance goals. Every three months, the Big Banks release their earnings. More often than not, those earnings are in the billions, if not the hundreds of millions. And people start frothing […]
When I was a kid, one of the things I learned from my mother was that interest rates are inversely correlated to housing prices. If interest rates are going down, then housing prices are going up. Over the last 12 months, I’ve seen this lesson play out in real life. By the time this blog […]
The deadline to contribute to your Registered Retirement Savings Plan for the 2020 tax year is March 1, 2021. I would strongly suggest that you contribute a little something to your RRSP because the money will grow on a tax-deferred basis. Tax-deferred just means that the money will not be taxed by the Canada Revenue […]
Time is good for wine, but it’s very bad for debt. Blue Lobster Though it should be obvious to everyone, I’m going to say it again. Debt is not wine. Hear me now! Time makes debt get worse. This is not a secret. Nor should it come as a surprise. The longer you keep it, […]
What the eyes don’t see, the heart won’t grieve… Anonymous Online Poster No matter how you look at it, retirement is coming. And if you’re fortunate, you’ll get to pick when you retire. Should Life have other plans for you, then retirement may arrive unexpectedly. Either way, retirement is in your future. One of the […]
A major stock market event occurred during the week of January 25, 2021. The current lore is that a group of humble retail investors put a serious hurt on the hedge fund experts who had shorted GameStop stock. As a result of the online amateurs banding together to drive up the stock price, the hedge […]
Being bright isn’t a requirement to being successful with personal finance and investing. I speak from personal experience as I don’t consider myself to be overly bright. There are many people in my circle who are much smarter than me and who learn things much faster than I do. Their net worths are not necessarily […]
Every so often, I take a quick gander at the new investment products that come onto the market. For one thing, it’s important to never stop learning about investing. There’s no pressure to change my investment path just because I’m reading & learning about something new. The worst thing that can happen is that I’ll […]
One of the cruel ironies of money is as follows: the less you have the more you need it. Take two people – Joe & Morty. Both of them have monthly expenses of $2,750 – rent, food, utilities, car payment, gasoline, and various other stuff. Joe has $500 to pay his bills this month. (His […]
Ever since I started learning about personal finance, I’ve noted that those who are successful at it have 5 traits in common. These 5 traits appear regardless of the path taken. Some people invested in the stock market, either through stock picking, mutual funds, or exchange-traded funds. Others became real estate investors and built a […]