You’ll always know where your money goes if you track your expenses. As trite and obvious as that sounds, I’m always amazed by the number of people who don’t do this simple task. Have you ever experienced getting a paycheque then wondering where all of your money has gone? If your answer is yes, then […]
Beer tastes on a champagne budget… This is the secret to riches! It’s a fancy way of saying that you should do what you can to live below your means. This post is going to be short and sweet, Dear Readers. In a nutshell, if you can maintain your beer tastes once you’ve attained your […]
For the past year or so, I’ve been fascinated by all the examples I see of intergenerational wealth. I like to think that it’s because my assessment of the FIRE movement and personal finance has become more nuanced. I’m always curious about and very intrigued by how people get the money for their first investment. […]
As the warm days of spring roll in and push harsh memories of winter to the recesses of your memories, you may find yourself enjoying the sunshine and asking yourself: What is exactly is dollar-cost averaging? I’m here to tell you that DCA can be a powerful tool for investors. In a nutshell, dollar-cost averaging […]
I really hate delivering bad news, but there’s no way around this. You’re not getting any younger. Time is marching on. You can fight it all you want, but the time will pass anyway. The important thing to do is focus your time, attention and energy on answering the following question – are you doing […]
Wait – what?!?!?! I know. It’s a shocking thing to say out loud, isn’t it? In the personal finance world, these words are damn near heresy! Day after day, we’re constantly inundated by news stories, articles, and blog posts about how we’re not saving enough money or that we’re not saving enough for retirement and […]
Looking back, I’m certain that I made a money mistake when I chose to pay off my mortgage instead of focusing on investing. At the time, I was in my 30s and my mortgage was less than $100,000. I had bought my first home when I was 28 years old. I had a 25-year amortization […]
As we’re so often reminded in the media, fewer and fewer employers are offering defined benefit pension plans. These were the pensions that your parents and grandparents might have had – they worked a fixed number of years and their employers would pay them a fixed monthly pension from retirement until death. The defined benefit […]
Recently, I had a discussion with someone who was worried about credit card debt. For ease, Gentle Readers, I shall call this person Oscar. Oscar’s niece owed over $10,000 on her credit card and Oscar was beside himself! It seemed that Oscar’s niece had been fleeced by an acquaintance who was not repaying the borrowed […]
The first step toward any building wealth for the next generation of your family is having disposable income. The more income you have, the faster you can reach this goals. When written out like this, it seems rather simple and obvious, doesn’t it? I don’t mean to oversimplify the situation, nor do I mean to […]