Weekend Reading – Amazon news, Mario’s house for sale, Aeroplan, Zuckerberg lost billions and more
Welcome to my latest Weekend Reading edition – where I share some of my favourite articles from the week that was across the personal finance and investing blogosphere.
These were my articles from this past week:
This couple has saved well, invested well and will now retire. Now what? How should they consider investing in retirement to meet their next goals?
Enjoy these articles and see you here next week when I will share an update on this article – Financial Freedom Age 50.
Have a great weekend!
Pretty sweet photos of Mario Lemieux’s castle-home here – if you have $20 million to burn.
Air Canada launched a hostile bid to buy back Aeroplan. This makes me believe you shouldn’t hoard any rewards points too far into the distant future since it’s impossible to predict how these points programs will change with time. Get some and use some at your discretion. Otherwise, pay cash. Why? Because essentially the very people that cannot afford to own a credit card (i.e., they owe money on these cards month after month) are the same people subsidizing your rewards points. Does that make you feel any better about financial literacy?
Tawcan wrote about FIRE (Financial Independence Retire Early) again. The entire retire early thing is an interesting concept – something I wrote about here. I don’t blame the “internet police” for calling out various bloggers who still make money, who purposely earn a living online yet call themselves “retired”. It doesn’t really add up but to each their own. Personally, I just want to reach a modest status whereby I can choose to work at what I want to work at, when I want to work at it. I’ll call this semi-retirement for the time being until I can come up with my own term. I figure semi-retirement for us will look like this:
We hope to realize some form of semi-retirement in about 5-6 years. Having (more) options in life will be good…
Financial Samurai believes it’s infinitely better to be wealthy than famous. He raises a great point about our collective, increasingly, craving desire for self-validation through social media. While I like and really enjoy using some forms of social media myself (namely Twitter), I can’t be bothered with posting everything about my life online. Doing so seems like taking a drug to me.
Thanks to Rob Carrick for including my article in one of his recent Carrick on Money editions. It’s always a thrill to get his major media mention and Rob has been a great supporter of this site for many years – thanks Rob!
Budgets are Sexy wrote about 7 money goals to hit by age 35. As an almost 45-year-old now, I thought I would take J. Money’s test even though I’m not a huge fan of these money milestones – everyone is different:
- Have growing net worth. Over time, thankfully, yes this has occurred.
- Be paid your value. Not sure of the context of this one. I think I’m adequately compensated for day-job so that’s good? The blog earns minimum wage – maybe!
- Be able to float yourself for three to six months. Three months, cash, yes. Six months, no or not yet.
- Be dedicating at least 20% of your income to short-term and long-term goals.
- Have a network of trusted financial sources. Not sure of the context of this one but I guess so.
- Start taking insurance more seriously. We own a good portion of life insurance, and other forms of insurance (e.g., car) are mandatory, so I guess so.
- Consider a very basic estate plan. We have Wills in place and although everything isn’t perfectly itemized in those Wills we have most of our act together. Don’t be an idiot, get a Will already!
Partnerships and Deals!
Thanks to my passion for personal finance and investing, some great companies want to offer deals. As a reader, you might as well take advantage of them although there is never an obligation.