My Own Advisor

“A strange thing is memory, and hope; one looks backward, and the other forward; one is of today, the other of tomorrow. Memory is history recorded in our brain, memory is a painter, it paints pictures of the past and of the day.” – Grandma Moses, American Folk Artist

Pictures can conjure up a wide range of emotions and memories.  They can make us happy and full of joy; they can make us sad and want us to forget.  Pictures remain a great communication tool, even more so in our modern, digital-information age.  Although revolutionary at the time, long gone are the days of the Kodak Instamatic.  Thanks to modern technology, we can share pictures in seconds around the world – which is part of the reason why I wrote this blogpost today.

Andrew Hallam, author of Millionaire Teacher recently left a comment on my blog saying:

“Hey Mark,

Toss up a post about Costa Rica.  Your readers would love it.  Well…I would, anyway.”

Well, in the spirit of pictures and the priceless memories they can create, here you go Andrew and others.   Here are some reflections I have from Costa Rica.  I hope you enjoy these pictures from our recent visit there last month.

I understand if you don’t love the pictures as much as I do, but there is some incentive to keep reading.  At the end of this blogpost I’ll give you a chance to win a new Canon DSLR Camera valued at over $1,100!

Looking into Poas Volcano, the northern lake, located at an altitude of 2,300 m.  This crater is almost 2 km wide and almost 400 m deep.  The bottom of this lake is liquid sulphur.

Driving into La Fortuna, Arenal Volcano dead ahead.  This volcano is about 1,600 m high and is almost a perfectly-shaped cone.  Our B&B in La Fortuna was less than 5 km from the base of this dormant volcano; well, no reported explosions have occurred from Arenal in the last couple of years anyhow.

The best beach I have ever seen, with some spectacular sunsets:  Playa Santa Teresa.  We stayed here for about a week and could have stayed months.  The small beach town of Santa Teresa is lively, with lots of great local food just steps away from the beach.  This is the beach where I learned to surf – just not as good as the dudes in my picture.

Our meal at Koji in Santa Teresa.  This sushi tasted even better than the presentation looked.

For those that love to travel, like you Andrew, I hope you enjoyed this brief look at our memories from Costa Rica.  Some pictures bring back priceless memories.

Now, want to win an AWESOME camera?  Of course you do, that’s why you read this post.  Or, maybe you scrolled to the bottom…

A few fellow bloggers and I are giving away an awesome Canon Rebel T4i DSLR camera.  Thanks to the folks at Structured Settlement Quotes for the great prize.  To enter this giveaway, please use the entry form below.  This contest runs until the end of March 2013 and this contest is open worldwide; shipping costs up to $50 will be covered for your prize.  Be sure to share this contest on social media everyday to maximize your chances to win.  Good luck to you!

a Rafflecopter giveaway

Thanks for reading and sharing this article.

 

I typically share an update on our financial goals every quarter or so, but I’m ignoring that structure based on some good news to report.  In case I’ve lost you on this post already, here is a list of our personal finance and investing goals for 2012:

• Goal # 1 – Pay off our LOC by end of February ($2,000).

• Goal # 2 – Starting in March 2012 (after the LOC is paid off) put $300/month as lump-sum payments on the mortgage for the rest of the calendar year ($3,000).

• Goal # 3 – Maximize both TFSAs before end of year ($10,000 in contributions).

• Goal # 4 – Grow our emergency fund by $3,000 (to $5,000) by the end of this year.

• Goal # 5 – Optimize RRSPs ($5,000 in contributions).

• Goal # 6 – Save $3,000 for a great trip in the fall/winter.

Here’s our update:

• Goal # 1 – Pay off our LOC by end of February ($2,000).

A few months ago we slayed this financial dragon and our line of credit remains at $0.  I hate debt and while I do live and spend for today, I’m trying to live without any borrowing costs except for major home renovations.

• Goal # 2 – Starting March 2012 (after line of credit is paid off), put $300/month lump sum payments on our mortgage.

This goal remains a work in progress until the end of the year.  Since March we’ve been putting $300 extra on our mortgage every month.  If everything goes according to plan, that will make $3,000 in lump sum payments on our mortgage in 2012 – a guaranteed rate of return over 3%.

• Goal # 3 – Maximize both TFSAs before end of year ($10,000 in contributions).

Earlier this year I maxed out my TFSA for 2012.  My wife’s TFSA has some contribution room left, a few thousand dollars, so we’ll continue to invest in this account via automatic transfers every month until the end of the year.

• Goal # 4 – Grow our emergency fund by $3,000 (to $5,000) by the end of this year.

While I understand emergency funds aren’t for everyone they are for us.  No matter how stable things might seem, things can also change in a flash.  I believe an emergency is one of the worst times to dive into debt, so having an emergency fund helps us avoid that.  As of this month, we’ve completed this goal and met our target for 2012!  You’ll read about where our funds are going now that this goal is complete in goal #6.

• Goal # 5 – Optimize RRSPs ($5,000 in contributions).

This goal remains a work in progress.  I’m confident we’ll be able to reach this goal just as we have in years past, since we focus on optimizing our RRSPs and not maximing them, sinking every investment dollar into them. 

• Goal # 6 – Save $3,000 for a great trip in the fall/winter.

This is our most exciting goal by far because saving is only so much fun.  After our debt obligations and investment requirements are met (yes, I put them in that order for a purpose) we enjoy travelling and spending money.  I am big believer spending on experiences not necessarily things, which makes travel a big priority for us.  We’ve recently made plans to travel south for a couple of weeks this winter and we can’t wait now that our plane tickets are booked for Latin America.  Last week, our travel fund started to take shape even with a meagre $50 automatic contribution set up for every 2 weeks and going forward.  I think after 6 months of contributions right up until our trip, this travel fund will add up rather nicely and we’ll barely notice the process.  If we complete our TFSA contributions before the end of December this year, and I expect we will, extra funds will go into the travel fund and this goal will be knocked off.

So, there you have it…two of six goals met this year with 4 more months to go.  There’s always room for better financial management but the journey is rewarding when you meet some small, meaningful goals along the way.  I will keep you updated on our progress later this year.

How are your 2012 personal finance and investing goals coming along?  Got any feedback on our goals?

Thanks for reading and sharing this article.

For some of you, you’re probably seasoned veterans when it comes to making your air travel enjoyable.  I took my first flight just over 20 years ago and now into my thirties, I’m guessing I’ve flown at least 50 times since.  I still get a kick out of air travel; so much weight hoisted into the air sustained for hours on end.  Modern air travel is a far cry from the days of Kitty Hawk.  Flying is a special engineering and scientific feat if you think about it…

I don’t travel often for work, maybe only a couple times a year but I’ve flown enough to know what works and what doesn’t.   With all the restrictions that come with flying, coupled with the fact that airline companies are increasingly looking for profits and margins for shareholders, I suspect many of you have some airline travel practices to make flying the skies, well, friendly    This post offers a few of my own tips.  To readers, I encourage you to share yours as well!   (I was inspired to write this post a few weeks ago on a flight coming back to Ottawa, after some travel for work to and from Sudbury, Ontario and Charlottetown, Prince Edward Island.)

1. Select a good airline

Sounds simple enough but if you’re going to book a discount airline then expect discount service.  Not all airlines are created equal. Thankfully, I think we have some great carriers in Canada.  Domestically, I’ve found Porter to be superior, with WestJet and Air Canada tied for second.  Recently, I enjoyed complimentary beer and snacks on my Porter flight to and from Sudbury, ON.   Not all airlines offer that nor this service with a broad smile.  Porter has dedicated lounges in most Canadian airports and offers complimentary wi-fi service, coffee, juices, water, snacks and newspapers prior to boarding.  If you haven’t flown Porter in Canada yet, I encourage you to check them out.  If you’re not in Canada, they don’t offer service where you are or you’re looking to travel abroad, check out this website that ranks airline carriers from around the world.   My wife and I used this site when trying to
figure out which airline would offer us good service domestically in Argentina.  We eventually chose LAN and loved it.

2. Arrive to the airport early

Another simple but easily understated good rule of thumb.  Running late for a flight, trying to scurry yourself through baggage check-in then security will only make you, airport staff and other travellers around you anxious.  Flying for many causes enough folks stress (maybe it causes you stress as well?) so don’t add any more challenges to the equation than need be.  Instead, plan ahead.  Arrive at least one hour in advance of domestic flights and for the most part, at least two hours in advance of international flights.  On travel day, always double-check your departure time.  Always factor in some buffer time to travel to the airport, getting around traffic or construction issues.  Some planning on your part is the prudent play here.

3. Travel light 

If you can, avoid checked luggage.   A few weeks ago for my recent one-night, two-day trips to Sudbury and Charlottetown I had nothing more than a small carry-on bag and my laptop case with my machine and notes inside it.  The reality is, while most airline carriers probably try to handle baggage with care checked bags can get damaged, delayed, lost or stolen.  Not checking bags at all avoids this issue altogether, just be mindful of carry-on size and weight limitations.  If you must check bags, keep those as small and light as possible.  Last year when my wife and I went to New York City for a long weekend vacation (on Aeroplan points thanks very much) although we checked one medium-sized bag we also made sure to save lots of room in this bag for NYC clothes purchases.  (Trust me this extra luggage room came in handy on the way home .   If you’re travelling for longer than a week, consider packing only a few clothes and take advantage of local dry cleaners or laundromats.  My last tip on luggage, ensure to pack some essential toiletries, one fresh set of clothes and all your important travel documents in your carry-on bag(s).  That way, if checked luggage does go AWOL you can at least survive on those essentials for a bit.

4. Get a seat upfront 

On every flight I’ve ever been on, the in-flight service starts at the front.  So, whatever snacks, meals or beverages your carrier offers, you’re almost assured to get the best of what they’ve got if you’re close to the front of the plane.

So, that’s basically it, some straightforward airline advice that will hopefully make your flight amongst the skies a little more friendly.

Any feedback on these tips for me?  How about a few tips of your own? 

I look forward to your comments!

Thanks for reading and sharing this article.

A few months ago (what seems like a year ago now) my wife and I returned from our Argentine vacation.

Our our flights to and from Buenos Aires, we used United Airlines, a Star Alliance partner with Air Canada. Upon booking our flights online with United, we entered our Aeroplan frequent flyer numbers like we always do. Email confirmations from United confirmed our Aeroplan numbers were received by United and registered for each flight segment accordingly. Upon arriving at all airports to and from our destination, our United boarding cards also included our Aeroplan numbers, as expected.  After we came back to Ottawa and settled into life here at home, we decided to check our Aeroplan accounts to see how many miles we were credited for. To our surprise(?) most Aeroplan miles were not credited. Only a segment from Ottawa to Washington-Dulles was credited for each of us.

It certainly begged the question, what happened Aeroplan?

Unfortunately this has happened before, missed Aeroplan credits, so we always keep boarding card stubs from each flight we take as evidence. After making photocopies of each stub, we wrote nice brief letters to Aeroplan in early January, something to the effect of the following:

Attention:
Aeroplan Centre
P.O. Box 7737
Station Terminal
Vancouver, BC
Canada
V6B 5W9

This letter is to request my Aeroplan mileage credit. As instructed on your website, enclosed is my name, address, telephone number, Aeroplan number, a legible copy of my e-ticket and original boarding passes for my credit. If you require any additional information please contact me.

Address
Telephone number
Email
Aeroplan number

I thought we had our bases fully covered, again, until I got the following response from Aeroplan last week:

“This is to acknowledge receipt of the material forwarded to the Aeroplan Customer Service Centre. However, as the name on the documents received does not correspond to the name reflected on your Aeroplan account, we are unable to award mileage. In the event you wish to modify the name on your account…”

What?

Really?

For real?

Nice.

Not only did Aeroplan fail to credit my miles appropriately even though checks and balances are already embedded in their processes (flyer number on e-ticket and boarding cards) they couldn’t be bothered to read my e-ticket or boarding cards to discern that my full name on these documents includes my given name printed on the Aeroplan card. Instead, Aeroplan staff see value and effort in writing me a form letter, mailing it, having me respond and starting the process all over again to credit Aeroplan miles to my account. Definitely more efficient and customer-friendly don’t you think? Annoying.

Have you had a similar experience with Aeroplan mileage credits you want to share?  Better still, if you work for Aeroplan, can you respond to my blog so I can understand your processes better?

My Own Advisor

Thanks for reading and sharing this article.

In my last post, I mentioned our vacation to Argentina has quickly come and gone, but not without many memories and experiences.

Our vacation started in Buenos Aires and we stayed in “BA” for 5 full days. It was an amazing city and as my last post mentioned, full of culture. Beyond visiting and enjoying numerous cafes and restaurants, we also visited the city’s fine arts museum, their beautiful parks, watched some tango in rustic San Telmo neighbourhood, visited the botanical gardens in the heart of the city, the city zoo and also the Recoleta cemetery – these latter three attractions certainly left an impression on us. The botanical gardens are filled with stoned paths that wind their way through spacious grounds, most of it filled with flora from around the world with over 8,000 plant species represented. Next door, the city zoo featured a diverse composition of indigenous birds and monkeys, giant turtles, llamas, elephants and bears. The Recoleta cemetery pays tribute to some of Argentina’s most notable and important historical people. Created in the early 1800’s, it is the city’s oldest operating grave site – and was really more of a necropolis.  The cemetery covers numerous city blocks and you can literally spend hours touring the tombs. Like most tourists, we visited the tomb of Eva “Evita” Peron, who was largely responsible for women receiving the right to vote in Argentina and used her political power to build hospitals, schools and playgrounds for lower-class Argentine citizens. Overall, an amazing experience – this cemetery is a must-visit in Buenos Aires.

Other Buenos Aires highlights worth mentioning:

-Our Bus Tourista tour, it gave us a great overview of the city.
-Tartas at Nina’s (near Juncal and Bustamante) in the Barrio Norte neighbourhood, for $18 pesos ($4.50 CDN) we got one of the best lunches (and deals) in Argentina. (Tartas are best described as a small, baked pies filled with various meats and veggies. When done right, these things are amazing…)
-Shopping in Palermo, my wife got some amazing deals, I like deals!
-Beautiful plazas and districts, including Plaza de Mayo (the political heart of the city), Puerto Madero (the port, waterfront district) and Plaza San Martin (in the nucleus of the city amid flowering and towering jacaranda trees).

After our stay in Buenos Aires, our LAN flight took us northeast for 3 full days to Puerto Iguazu, a small city near Paraguay and Brazilian borders. As my last post mentioned, we went here to visit the spectacular canyon of waterfalls that were shaped some 120 million years ago from geological upheaval. This UNESCO World Heritage Site is in our opinion, another must see if you go to Argentina. Although the national park in Iguazu can be seen in one very full day, we took our time and made two days of it. Our first day was quite adventurous. Not only can you hike and walk various circuits to get some up-close, breathtaking views of over 250 falls, you can also pay 100 pesos (about $25 CDN) per person and take a high-powered motor boat right into the falls! We did this and it was thrilling. We just hope our waterproof camera pictures turn out! The second day we explored the park’s tropical jungle on a 10 kilometer trek that took us through huge cupay trees (South American hardwoods) with our hike ending at a small waterfall and pond. We both took some time here to have a small picnic and a swim – simply time to soak in our surroundings. We had some other neat experiences in Iguzau, such as a visiting a lookout point where you can see both Paraguay and Brazil (separated by only a river) but the national park in Iguazu was the reason for our visit and rightly so!

After a few days in the park, including an afternoon of sun helped by some very big beers at our resort-like bed and breakfast (B&B) we boarded another LAN flight to take us from Iguazu to Mendoza, via Buenos Aires (there are no direct flights, BA is the hub).

Our travel day behind us, we spent 4 full days in Mendoza. Like Buenos Aires, Mendoza has many things to do – for one, visit wineries, LOTS of them. Within a radius of a couple hundred miles, there are well over 1,200 wineries (bodegas) – from very big enterprises who produce tens of millions of bottles per year to small, boutique, family-owned wineries that produce a few thousand. We had the luxury of visiting (and tasting) a bit of everything on our private wine tour, bodegas big and small; Malbec, Cabernet Sauvignon, Cabernet Franc and Merlot just to name a few. Another highlight for us in Mendoza was Parque San Martin. Under the direction of French architect Carlos Thays, the park was completed in the early 1900s which was adorned with many beautiful sculptures and a rose garden. Also within the parks grounds, there is a stadium, a zoo, some university buildings, a monument that commemorates the crossing of the Andes by José de San Martín and his army, and a large lake which has The Regatas Club on its shore. Simply put, it’s a great way to spend a day, and we did.

Last but certainly not least, our other major experience in Mendoza was our Alta Montana tour (high Andes mountain tour). As the name suggests, a small tour bus took us up, way up, into the Andes mountains from Mendoza and back again. The entire trip was long, about 400 kilometers in total but well-worth every climb and turn. Starting from the wine region and the foothills, our journey took us into the Andes to over 10,000 feet, right to the Chilean border. On our way up, we visited the Aconcagua park entrance, where skilled mountain climbers (not us) begin their 15 kilometer journey to climb the highest mountain in the Western hemisphere. At almost 23,000 feet, it is a very big mountain indeed, the biggest we’ve ever seen and one of the Seven Summits.

Other Mendoza highlights worth mentioning:

-The five plazas in Mendoza’s city center, great to stroll through, people-watch and simply relax and enjoy amongst the water fountains.
-Dinner at Azafran – amazing food and you can bring your own wine. You can have a five-star four course meal for $80 CDN per couple!

I could go on, but that’s probably more than enough. Besides, this is a personal finance and investing blog, not a travel blog We have tons of stories about the people we met and our B&B owners in particular – all great people whom we owe a huge thanks for making each night in each city, comfortable and safe. Thanks to Tesorito, Los Troncos and Plaza Italia B&Bs!!!

Like I mentioned in my last post, while it’s great to travel it’s also great to be home. In a future post, I’ll discuss what we learned or re-learned about travelling; when you’re over 6,000 miles from home, every day is literally an adventure and sometimes you can’t be careful enough. There are always things you can do to protect yourself and beyond that, make your trip most enjoyable. Stay tuned for those tips and learnings, hopefully they can help you in your next adventure.

Anyone have a trip they were especially fond of?
Anyone have a trip planned?

Thanks for reading and sharing this article.