Do you want to know a secret about burnout? Here it is… almost everyone keeps burnout a secret from everyone else. I’ve attended many graduation ceremonies in my time, my own and those of loved ones. I’ve also had various mentors over the years. While they weren’t all great, they all taught me something valuable. […]
Whew! The first three months of 2019 are already in the rearview mirror. Tempus fugit! Am I right or am I right? A few weeks back, I was happy to report that the Tax Free Savings Account (TFSA) contribution limit was raised to $6,000 for 2019. If you’ve been maxing out your TFSA contribution, then […]
I’m sharing the following bit of wisdom respecting the mortgage cash account. I don’t think this is a particularly good option for mortgage-holders, but I’m trying to keep an open mind. The Mortgage Cash Account My bank holds the mortgage on my rental property. I make bi-weekly payments on my rental property because I want […]
Longtime readers of this blog are familiar with my plan to build an army of little money soldiers. Each soldier is a dividend-producing unit in my investment portfolio. Every month, I direct money to my brokerage account and buy as many units as I can afford in my preferred exchange traded fund. I’m not proficient […]
This week, I was very sad after reading an article in the Walrus about how so many people in Canada go hungry on a regular basis. The article reminded me that being able to eat every day is a privilege that I take for granted. I have enough money so I can go to various […]
This week, I had the pleasure of reading a fantastic article about saving for financial independence and early retirement that was written by Mr. Tako of www.mrtakoescapes.com***. In this magnificent article, Mr. Tako discusses his surprise that anyone would view his choices as “hardcore” on his pursuit to financial freedom. By following his own plan, […]
What is a Home Equity Line Of Credit? Short answer – it’s a debt trap that’s best avoided. At its heart, a HELOC is a debt product that banks offer to homeowners which permits the homeowner to go into debt by spending the equity in their home without selling it first. For example, if you […]
I still save even though my employer has promised to pay me a pension when I retire. Despite this promise, I ensure that I do the following every two weeks: I siphon a solid chunk of my paycheque out of my checking account and I squirrel it away into my investment portfolio. Why do I […]
This week, I managed to save myself $250 per year for the next two years simply by sitting on hold for roughly 15-20 minutes. I think the resultant $500 that will stay in my wallet is a good reward for navigating the phone tree, talking to three different people, and asking for what I want. […]
It’s Registered Retirement Savings Plan season! From now until the last day of February, there will many advertisements all over the place exhorting you to make a contribution to your RRSP. If you need more detailed information about the rules, then I would suggest that you visit the website for the Canada Revenue Agency. Alternatively, […]