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 […]
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 […]
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, […]