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Smart Investing

Reader Questions – Essential Saving and Investing Advice

Thanks good readers, I appreciate hearing from you and receiving your saving and investing questions. I’ll be the first person to acknowledge our saving and investing approach might not be suitable to everyone however I believe things are working out for us so far.  Before I get into the latest set of reader questions to My Own Advisor here’s a brief look at our financial priorities: Very high priority on saving, contributing and maxing out our Tax Free Savings Account (TFSA) every year. High priority on contributing monthly to our Registered ...
Smart Investing

Seven Smart Investing Principles for Everyone

Last fall, I obtained a copy of this document from PWL Capital entitled Seven Principles of Smart Investing.  After reading this through this white paper I reflected upon how we’re applying these principles. 1. Ignore ‘hot’ investment tips We do.  I ignore all financial tips from people who think they know where stocks or markets are headed.  They may pretend to know but they don’t. 2. Have a basic knowledge of investment vehicles I believe we do.  We use low-cost indexed Exchange Traded Funds (ETFs) and individual stocks ...

After the golden rule of personal finance follow these ones

Let’s be blunt, you can likely sum up personal finance into a few principles: Pay yourself first. Spend less than you make.  You can add in “invest the difference” if you really want to. The golden rule of personal finance is easy to understand but actually hard to implement consistently over many years for many reasons.  Life throws some curves at you, things change and your financial plan needs to change with it. In general though if you can get a handle on investing that difference I mentioned above then you might be questioning how you ...

Questions Investors Simply Don’t Ask Themselves

I was inspired by this article from Michael James on Money recently that answered a bunch of questions investors simply don’t ask themselves, listed on Ben Carlson’s site A Wealth of Common Sense.  Given Michael is a successful index investor and my investing approach is different from his I thought I’d take a stab at answering Ben’s questions and see what’s different and by how much.  Ben’s questions are in bold font, my answers follow.  Please hang with this post, it’s longer than most. What if I’m wrong? I’m quite confident ...
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 ...

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