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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 ...

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Financial Rules

Agree or Disagree – Testing 15 Financial Rules

Recently, this article on BrighterLife.ca caught my attention – 15 common financial rules of thumb.   Author of this article Dave Dineen offered his take on these rules, and today’s post will offer mine. Your retirement income needs to be 70% of your working income. Largely agree, this is one of the more reasonable financial rules of thumb.   While some big, current expenses are expected to disappear in retirement (mortgage, RRSP contributions), new ones may appear (rising healthcare costs, travel).  Our goal is to save for about 50% of ...

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Weekend Reading

Weekend Reading – Poor bond yields, blog success, debt and more

Welcome to another Weekend Reading edition, my selections for the best in personal finance from the blogosphere.  This week, I wrote about my financials goals for 2014 and thanks to my friends at 5i Research, I shared some technical details about analyzing Real Estate Investment Trusts (REITs). Here are some of my favourite articles and sites visited from the week that was – enjoy friends. Ian McGugan wrote about retirement strategies for a low (and likely prolonged) bond-yield world.  This was an interesting bucket approach I’ve seen ...

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Goals

2014 Financial Goals – August Update

 To keep me honest and 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 keep tabs on them, and often. In case you missed earlier posts on this subject, here’s a recap of our 2014 financial goals: Continue putting $300 lump sum payments on our mortgage every month ($3,600). Maximize both Tax Free Savings Accounts (TFSAs) ($11,000). Increase Registered Retirement Savings Plan (RRSP) contributions by $200 per month ($2,400). Here’s where we ...

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REITs 101

REITs:  Book Value and Net Asset Value Revealed

What’s not to love about Real Estate Investment Trusts (REITs)?  You probably know I’ve written about REITs before. REITs are best understood as a professionally managed trust that buys and holds real estate properties.  They offer investors (like you and me) a way to participate in real estate, including the potential rise in property values, without the headaches of being a landlord.  REITs are an attractive asset class to me because these companies provide regular distributions, often monthly distributions.  For investors that want to ...

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