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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 ...
Financial Attitude

Great finances start with great attitudes

Some time ago, I read a blogpost by Seth Godin.  In this article, Seth ranks the hierarchy of success in the following order of importance: Attitude Approach Goals Strategy Tactics Execution Seth may have something here. Culturally, we are obsessed with execution and my workplace is an example.  Use this word instead of that word in this communication memo.  Use this software solution not that one.  “We’re doing it all wrong.” Execution, while important is not the most important factor to realize success.  The same goes ...
Classroom

I wish we had more stock in our school system

As a youngster growing up in the public school system in Eastern Ontario, I remember taking a whole slew of courses designed to prepare me for my post-secondary studies and to a larger degree, adulthood.  Calculus, Biology, Chemistry, Physics, Law and English, to name a few, were part of my high school senior year curriculum.  For the most part, these courses and the teachers that taught them did their job – these courses helped me figure out what I liked (what I didn’t) and laid out the foundation for what I would experience in my first ...
Life Insurance

Why mortgage insurance doesn’t work for everyone

You just bought your house – congratulations!  You can’t wait to move in and make your house a home. With all the excitement that comes with a new house, I’m afraid there’s a downside:  how on earth are you going to pay for this thing? If you’ve felt that sickening feeling like I have (and still do), I’m sure we’re not alone.  Although we have our health today it might not always be this way… What happens if you suddenly pass away and you still have a large mortgage?  What will happen to the home you worked so hard to make?  ...
Dumb ass

My Dumbass Financial Moves

I spend a lot of time on My Own Advisor sharing what’s working in my financial plan and how incremental money management changes are moving me forward towards my goals each month. Making my savings automatic, investing in the market, holding stocks that have paid dividends for generations and killing off mortgage debt are key elements of my financial plan.  On the other hand, I’ve made some mistakes over the years that I wish to avoid repeating.  Thinking about my mistakes reminds me of this quote: Insanity: doing the same thing over and over ...

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