Before we get to the Weekend Reading list, here are some interesting articles I read this week from the business world…
Greece’s jobless rate soared to a new record high this spring with unemployment hitting 22.5%. That figure blows my mind and gives all of us a sense of how bad things really are in Greece. Writing about more hard times, Spain introduced their austerity measures this week. Spanish measures include slashing $65 billion euros from their deficit by 2014 and among many other things adding 3-points to their Value Added Tax (VAT). Tough times and tougher times ahead…
I also read that billionaire stock investor Warren Buffett said he remains confident in the abilities of JPMorgan Chase & Co. CEO Jamie Dimon, despite Dimon at the center of a $2 billion USD trading loss for the company back in May. Buffett said during a recent interview on CNBC “I think Jamie Dimon is one of the best bankers in the world. He understands banking and risk.” Ugh, not so much actually…
In the world of stocks and investing, I was very happy to read about Coca-Cola’s first stock split in 16 years. I can’t wait to get my 2-for-1 shares next month. Sure, the dividend gets cut as well but in another decade or so, the stock will split again after the share price has increased and the dividends have risen again and again and again. As dividend paying stock, Coke is it!
Lastly, I got a kick outta Thomas Daigle this week who has been diligently saving his pennies over the years to pay off his mortgage, literally. This past April, Daigle had saved enough pennies to make his final mortgage payment, which weighed-in at more than 360 kg, over 62,000 pennies. Wild story eh? For Canadians, if you want to do the same, you better hurry, our penny is getting phased out soon.
Here are some great articles to check out this week. I’ll be back next week with an update on my dividend income for June. Thanks for your great support of My Own Advisor. Over 600 dedicated readers, over 20,000 page views per month and almost 600 followers on Twitter.
Andrew Hallam pointed us in the direction of a Scott Burns article on AssetBuilder entitled It’s 2012: Do You Know Where Your First Million Is? Scott writes: “Work. Some people love it. Others are addicted. Still others find it amusing: they can watch it being done for hours. But here’s the big question: How much money would you really need to have a choice about working?”
My University Money wondered if he should work during the school year.
Boomer & Echo used a case study to answer the question: Can you live on $1,065 a month? They also had a slightly controversial post entitled Is Today’s Divorce Rate Caused By More Women In The Workplace? What are your thoughts?
Joe at Retire by 40 shared his June 2012 cash flow.
Ed Rempel on Million Dollar Journey, one of Canada’s premier blogs, wrote “It’s not the bear you see” when discussing how often popular financial forecasts are wrong.
Modest Money wrote about optimizing blog loading time.
Y&T said to get others to pay for your fees.
Preet Banerjee had some bragging rights to share this week; he’s leading a 2012 bloggers stock picking contest amongst some other savvy DIY investors. He’s up almost 15% this year, even with holding RIM. Check out Preet’s disclaimer for this contest, pretty funny stuff. Also in news if you didn’t already hear, Preet will be hosting a TV show called “Million Dollar Neighbourhood” on The Oprah Winfrey Network. Production starts in a few weeks and Canadian audiences can expect the series to air in January, 2013. You can read more about the show here. Congratulations Preet!
Prairie EcoThrifter had a post entitled From Trash to Treasure.
Sustainable Personal Finance wondered…what is Freecycling?
The Blunt Bean Counter said after 25 years, his wife deserves a medal. Nice post BBC.
Invest It Wisely wondered if people are shooting themselves in the foot with income reports. I say, no. I wish our world had more transparency to be free of stigmas. I’m dreaming of course, since this won’t happen in my lifetime.
Financial Highway shared 6 investing truths that are difficult to believe.
The Dividend Guy updated his stocks as part of the Dividend Growth Index.
Check out Hello Alan (Say What?!?) “When did it become OK for people young enough to be my kids to call me by my first name?”
Beating The Index said Pinecrest Energy is one of Canada’s best junior oil stocks.
Jim Yih shared Four Disciplines to Financial Success.
Michael James on Money wrote about fear and the consequences it has when dealing with large sums of money. Michael said “There is a curious paralysis that hits people when they are forced to make decisions about large sums of money. Very frequently, they end up making the default choice that involves no action at all.” There seems to be a painful truth here, although I don’t have large sums of money (yet?) so I can’t speak to this from experience.
Canadian Couch Potato highlighted a new service for do-it-yourself investors. This post was great news, I think, and kudos to the folks at PWL Capital in Toronto.
Dividend Ninja provided his update on the Dividend Growth Index, as did another successful DIY investor with dividend paying stocks, The Passive Income Earner. A welcome goes out to Susan Brunner, to the Dividend Growth Index. Check out her first post and her selections.
Finance Fox said coupons are sexy on first dates. I think they’re sexy all the time!
Speaking about coupons, make sure you check out www.groceryalerts.ca, a cool site that has all the printable coupons you need for many everyday items.
The Loonie Bin concluded his three-part series, how he saved $50,000 in three years.
Lastly, make sure you check out my giveaway. You’ve got a couple more days to win Rob Carrick’s new book!