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Old car

Why I still drive my 15-year-old car

I bought my 2000 Mazda Protégé days after I moved to Ottawa from Toronto.  My Mazda was brand new and cost about $16,000 right off the lot.  I recall I used my credit card to make a $500 down payment.  My Mazda has been paid for since 2005.  This beauty doesn’t owe me much but it does hurt the pocket book about once per year. To keep it on the road I recently sunk $1,300 into it, an old car that may be worth only about twice as much.  My wife and I had to roll it out of the garage for CAA to get access to it.  Good times and my neighbour ...

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Weekend Reading

Weekend Reading – Defriending, Vanguard advice, how much money and more

Welcome to another fine Weekend Reading edition!  Hard to believe June is almost a memory and we’re reaching the mid-point of summer.  Earlier this week I starting thinking about how to manage my small LIRA and I reminded you saying “we can’t afford it” remains taboo in most financial discussions. Enjoy these articles about defriending, advice from Vanguard, how much money might make you happy and more this weekend.  Take care! Kerry Taylor said its simple to get confused about how much your paying in money management ...

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Time Spent and Money Spent

We Can’t Afford It Remains Taboo

I had a conversation with friends on vacation earlier this year and the subject of money was raised a few times.  One interesting money subject we discussed was where and how we spend our money.  I’m of the opinion that if we want to take good care of our finances, we must take responsibility for what we spend our money on.  My thinking is nobody really wants you to save money.  Well, maybe the bank. Like Carl Richards nicely explained in his recent book The One-Page Financial Plan budgeting is beyond numbers, it could be considered an ...

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Smart Investing

LIF Income Strategies

I suspect to retire in physical, mental and financial well-being are goals most of us have.  For us this means some financial planning today ensures we have a chance of ending up where we want to be.  For today’s post I’d like to share some LIF withdrawal strategies I’ve been toying with. LIRA and LIF 101 If you left a company with a pension before retirement (like I did in my late-20s) you likely had a choice to move the money into a Locked-In Retirement Account (LIRA).  These accounts are designed to help you continue to accumulate wealth ...

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Weekend Reading 5

Weekend Reading – Best credit cards, mortgage terms, net worth and much more

Welcome to some Weekend Reading fans.  Thanks again for your support of my site and my journey.  This week I provided some advice for Millennials seeking any sort of retirement plan and if you’re worried about a lower Loonie then read this post. All the best to you this weekend and see you here again next week! My friends at Greedy Rates identified the best travel credit cards for 2015. Forbes listed some very rich athletes. Rob McLister highlighted some mortgage term studs and dogs. Preet Banerjee has some good advice about calculating ...

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