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Reader Question

Our TFSA and RRSP Considerations for 2014

Over the last few weeks, I’ve received a number of emails from readers asking questions about Tax Free Savings Accounts (TFSAs) and Registered Retirement Savings Plans (RRSPs).  Here was another recent question, paraphrasing and quoting where I can: “Love your blog! It has really helped me enter the self-directed investment world.”  Given that it is the beginning of the year, “it would be great to know what stocks or ETFs you are considering for your TFSA and RRSP this year. Keep up the great work!” Thanks for this email (and the nice ...

2014 Financial Goals

To keep me honest but also focused I post my financial goals on My Own Advisor.  One thing I’ve learned over the years is I have a much better chance at realizing my goals if I write them down and keep them visible.  This blog is an enabler for that. Last year, we accomplished all our financial goals.  Here’s a recap of what and where we saved: Put $300 lump sum payments on our mortgage every month ($3,600). Make a healthy contribution to one TFSA ($8,000). Save for a take and take a great trip ($4,000). Do not incur any new debt in the ...
Finance Goals

October 2013 Financial Goals Update

“That’s why knowing the right answer, and doing the right thing, are very different.” – Jason Zweig In the book Your Money & Your Brain author Jason Zweig discusses the emerging field of “neuroeconomics” and shines a bright light on the many bad things our investing brains drive us to do, which make no logical sense but unfortunately make perfect emotional sense.  For example, in theory Jason says “we all have clear and consistent goals”.  In practice, Jason believes most of us can’t recite our financial goals and when we ...
Retirement 2

Consider what you spend for your enough number

Earlier this year, I wrote one of the biggest retirement questions and potentially one of the most frequently asked retirement questions is “How much is enough”?  The answer to this question at that time was “it depends” but there is a better answer than that. The “it depends” response was in reference to the latest edition of Diane McCurdy’s book How Much Is Enough?   In her book Diane encourages aspiring retirees to separate needs from wants but I always look at these things together.  Determining your what you need and want ...
Finance Goals

September 2013 Financial Goals Update

“Every goal, every action, every thought, every feeling one experiences, whether it be consciously or unconsciously known, is an attempt to increase one’s level of peace of mind.” – Sydney Madwed, poet for the business world. Goals are good but it’s often the journey that’s more important.  Although we haven’t reached our financial goals for this year yet, we’re on a disciplined path to get there.  Here’s a recap of what we set out to do in January: Put $300 lump sum payments on our mortgage every month ($3,600) Make ...

2013 Financial Goals – May Update

“If you’re bored with life, if you don’t get up every morning with a burning desire to do things, you don’t have enough goals.” ― Lou Holtz I get up every day and want to be productive, at work, at home and at play.  At work, there is my to-do list that never ends.  At play, I’ve got a golf game that needs some serious TLC before our company tournament next month.  At home, we’ve got some financial priorities to take care of.  Let’s move on to those… Earlier this year, my wife and I put together ...

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