Weekend Reading – Bernie memes, practice failure, cash reserves and more #moneystuff
Welcome to my latest Weekend Reading edition, highlighting some of my favourite articles from the week that was across the personal finance and investing blogosphere.
Last weekend, I had articles about how much cash you should keep, the downside of paying off your mortgage (?) (along with the answer to the mortgage vs. investing debate), Tesla multi-millionaires and more!
Enjoy your weekend and see you here next week with some ETFs I want to own in 2021!
Should you pay yourself a salary or a dividend, from your corporation? This post has that guidance.
Nice to listen to Chris Istace go from stressed oil industry worker to a mindful explorer, photographer and more on Vancouver Island with his family over the last few years. Enjoy this recent Explore FI Canada podcast.
A cool quote to think about, one from a newsletter from Farnam Street:
“If you want to do a good deed, do it now. The time will pass, and you will not have the chance again.”
— Leo Tolstoy in A Calendar of Wisdom
From Farnam Street of late: Why You Should Practice Failure.
“If you practice failing every so often, you increase your flexibility and adaptability when life throws obstacles in your way.”
Nice work on Another Loonie on the TFSA vs. RRSP debate. Do you have a preference?
I have mine!!
Millennials, did you know if you just focused on your TFSA for the coming decades HOW MUCH MONEY this account could generate for you??
Check out the TFSA calculator, courtesy of Wealthsimple, from my Helpful Sites page.
Gordon Pape shared some thoughts on REITs to own for 2021. If you’re not a subscriber, he recommended the following three:
- Granite REIT (GRT.UN)
- Summit REIT (SMU.UN)
- Dream REIT (DIR.UN)
Rodney Smith doesn’t seem to be a fan of cash reserves. “My policy of keeping no cash reserve has worked for me for decades. So, let me explain.” He did in this post.
He goes on to say, “the retired investor can be in a similar situation. Dividends are constantly flowing in. They are held as cash until needed for living expenses or to deploy in a stock purchase.”
Fair. But I also believe $hit happens to very good people from time-to-time. So, the last thing any aspiring saver or family wants to get into, in an emergency, is more debt. I think we’re seeing that play out during the pandemic.
Ah, Bernie memes. Very funny stuff this week as the U.S. started to get back on track following the inauguration. Hooray!
Guess away, I’ll tell you the answer below!!
Rob is doing well with his passive income stream.
My friend GenY Money shared her PF resolutions for 2021.
On my new site, Joe and I shared why cash flow (not cash) is king.
After reading that post, we also have a $100 Amazon.ca gift card giveaway for you! Enter away!
Save, Invest, Prosper!
Thanks to my passion for personal finance and investing, some great companies want to offer deals. As always, never an obligation…
BMO will be back very soon with my personal promo code to use when opening investment accounts with them. Get cash back with them! Awesome.
Until then, there are other deals should you want to take advantage and explore them:
- With 5i Research, I’ve secured a FREE no obligation trial to learn about model portfolios, the best ETFs to own and more.
- You can get $50,000 managed FREE with ModernAdvisor.
- Sign up for commission-free investing with Questrade – that’s right, buy and hold ETFs for FREE!
- Grow your money – invest with Wealthsimple.
- LegalWills.ca now offers a unique code for 15% off any services – that never expires.
Also, after sharing their thoughts on when to sell a stock after a dividend cut, the guys at StockTrades.ca are offering a Premium Membership at 30% off backed up by their 30-day 100% money back guarantee. Meaning, if you don’t like what you see for any reason within the first 30 days just cancel. Your wish is their command. Scroll down my Deals page for those details!
Happy investing and see you in the comments section!