How many of you have heard of coasting to financial independence once you’ve hit a pre-determined target for your investment portfolio? It’s a concept known as Coast FI. I first learned about it in a post from Military Dollar. Essentially, Coast FI means that you can stop contributing money toward your goal of financial independence once you’ve […]
I’ve made my share of mistakes when it comes to money. One of my biggest mistakes was waiting 5 YEARS before I started investing in my non-registered portfolio of dividend-paying exchange traded funds (ETFs). I paid off my house when I was 34 but I waited half a decade before I started investing in […]
Debt is a cancer to building intergenerational wealth. The phrase intergenerational wealth conjures up images of the very, very rich who are able to bestow entire empires upon their progeny. Truthfully, the concept doesn’t require anything quite that elaborate. My definition of intergenerational wealth is the ability to provide financial assistance to your offspring in […]
If you have a mortgage, then you should have some kind of insurance in place to pay it off just in case you die while the mortgage is outstanding. My suggestion*** is that you get a life insurance policy that is sufficient to cover the full amount of your outstanding mortgage. This way, the life […]
One of the things that I’ve learned over the years is that the principles for saving money are the same whether you’re coupled or a singleton. Pay yourself first… Live below your means… Invest in the stock market for long-term growth… Always have an emergency fund… Buy the proper insurance… Use low-cost index funds […]
I’m a huge proponent of the Tax Free Savings Account (“TFSA”) and encourage everyone I know to stuff their TFSAs to the max. The beauty of this product is that money grows tax-free and you won’t owe any taxes on the growth of the money when you eventually withdraw it. You can fill it with […]
I recently finished two books about poverty – Evicted: Poverty and Profit in the American City by Matthew Desmond and $2.00 a Day: Living on Almost Nothing in America by Kathryn Edin & H. Luke Shaefer. The stories that were shared within their pages will stay with me for a long time. I’m not an expert on […]
I’m a visual leaner so when information can be presented in a picture, then I absorb it a lot faster. That’s why I was so damned impressed when I came across the following link on one of my travels through the Internet: Cash Flow Diagrams. In all honesty, this is one of the best links I have […]
One of my life’s goals is to build a nice, solid flow of passive income without getting a second job. The way I decided to do this was by building an investment portfolio using a dividend-paying exchange traded fund (ETF). I think of the individual units in my ETF as Little Money Soldiers whose sole […]
Debt sucks, yet people go into debt like they’re the ones earning the interest!!! Think about it for a moment. Financing purchases means paying interest to a creditor in order to acquire things. Whether it’s buying the latest flat-screen TV or acquiring a vehicle or upgrading one’s wardrobe or taking a vacation, a great many […]