Weekend Reading – Professionals wasting millions, leverage, taxes and more

Welcome to your Weekend Reading list that includes some frightening ways one NBA athlete wasted over millions over his career and some shocking statistics on income spent on housing.  You can read here how NBA player Antoine Walker wasted $110 million dollars and over here, on average, Canadians spend over 40% on mortgage and rent, as well as paying for utilities.

This week I reviewed The Empowered Investor and provided a link to download this ebook for FREE and thanks to a fan of this site, I got some great responses to some Wealthsimple questions.

Have a spooktacular Halloween and enjoy the rest of these articles!

Boomer & Echo shared some excellent expert opinions about leveraged investing.  Personally, I’m not a fan of borrowing money for investment purposes.  I prefer to save first then invest (not very exciting or risky I know).  Borrowing money for investing implies you don’t have the money to invest in the first place, somewhat like taking out a massive mortgage to buy a fancy house hoping it will appreciate in value.

MoneySense encourages you to attend this speaking engagement to change your financial future for the better.

Thanks to Canadian MoneySaver for mentioning one of my articles here.

With the municipal elections that occurred this week, Barry Choi wondered:  what do property taxes pay for?

Michael James on Money proves he has his asset allocation clearly thought out.

The Passive Income Earner recounts his solid TFSA performance to date.

Cait Flanders said you need to make peace with your financial situation.

This blogger thinks dividends make investing easier:  “The fact is, I receive my dividend checks whether the stock market falls by 10% or rises by 10%.”  I agree with this, and to protect myself from myself when it comes to investing decisions, that’s part of the reasons why I do it.

Big Cajun Man had some positive things to say about TD Direct Investing when it comes to #RDSPs.

Canadian Mortgage Trends is not betting against even lower bond yields.

Mr. Money Mustache wondered if you can go car free this weekend.

Holy Potato had some options for indexing.

I enjoyed this Nightmare on Bay Street by 5i Research.

Here are two ideas how to start dividend investing with little cash.

13 Responses to "Weekend Reading – Professionals wasting millions, leverage, taxes and more"

  1. So many professional athletes go bankrupt a few years after retirement. They really should take a few courses on personal finances.

    I’m with you on leverage investing. One of the rules I follow is only to invest money that I can afford to lose.

    Reply
  2. Thanks for the inclusion, TD really is only allowing you to make trades in the RDSP account, getting money into the account is still quite time consuming and you can’t automate it either, but it is a step in the right direction.

    Reply

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