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Financial Attitude

My personal finance a-ha moments

I spend a lot of time using My Own Advisor to share what’s working with our financial plan and how incremental money management changes are moving us towards financial independence.  I’ve also shared some money management mistakes on this site.  I do this because I believe most people learn more from their failures than their successes…at least I do.  Writing about success and failure can be helpful because money affects our lives in so many different ways:  how we save, how we invest, what we shop for, where we spend our money, what products ...
Saving

Stop worrying, make your portfolio safer, and choose better investments

Richard is a fan of My Own Advisor and a passionate index-investor. The media makes it sound so easy: “Don’t sell when the market is down.” “Stick to your plan.” Right. But when we keep hearing these messages how is it that investors keep making those mistakes? Stop Worrying When I started out I was confused and nervous because of all the financial advice that came my way seemed hard to follow.   These days I rarely get worried and when bad news comes out I just smile and remember that everything is ok. Why? The biggest ...
Stock Market Volatility

How to survive today’s volatile markets

Is this the end of a multi-year bull market? Is this the beginning of another bear market? Is this a market correction or a market crash? Let’s face it folks, for the last 5-years the stock market have been pretty darn good.  If you don’t feel this way you’ve obviously been invested in the wrong stuff over that timeframe.   Stock prices since “The Great Recession” have surged as have home prices.  It’s been a great time to be an equity or real estate investor. Maybe the only downside during this period has been prolonged, low interest ...
Financial Mistakes

DIY Investor Mistakes

As a follow-up to a recent article in The Globe and Mail, I wondered about posting another article that shares where I’ve fallen down – exposing some of my DIY investor mistakes.  Here are a few common mistakes from that article and my assessment of them. Lack of a sounding board I’m actually using this blog, friends and family for sounding boards.  I talk to others about their investing experiences (good and bad) and try to learn from everyone I meet.  I think my approach is generally sound but I’m probably biased as are all ...
Financial Stuff

Four Fat Financial Failures

Mistakes are part of life, might as well accept that.  I’m learning to accept that concept more as I get older.  When it comes to personal finance in particular hopefully our money management mishaps are smaller and infrequent over time.  For today’s post, here are four fat financial failures and some personal commentary on them that have the potential to derail any retirement plan. Overspending The simple fact is, unless you can control your spending you won’t have anything left over to save or invest.  So, when it comes to a healthy ...

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