Weekend Reading – building million dollar portfolios, crazy HELOCs, blogs, taxes 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.
This is what I got around to posting this week:
I shared a simple but not easy mind you, three-step recipe how to build a million dollar portfolio here.
I updated an older post about why I still intend to live off dividends and distributions and shared a profile about a successful investor who intends to do the same.
Enjoy these other articles and see you again next week!
This Globe and Mail article equates HELOCs (Home Equity Lines of Credit) to an automated teller machine. “A HELOC makes it so that you can pretty much use your house as an ATM and use the equity you have for trips or clothes or other expenses that do not improve the value of your home.”
From the same article, profiling these homebuyers: “The Baldwins entered the housing market in 2008 by buying a suburban condo and feel fortunate to have scooped up a run-down property in mid-2016 on Vancouver’s east side for $1.45-million – a bargain in a city where the price for detached houses sold last year averaged $2.64-million.” Days after reading this article, I’m still wrapping my head around the concept of purchasing a run-down property…for $1.45-million.
Canadian Budget Binder highlighted some tips and changes for the upcoming income tax season.
“This is my first pair of ThunderStix. I’m hoping to use them for something constructive, like hitting myself repeatedly for attending this event.” Funny stuff.
GenYmoney listed an ultimate list of Canadian dividend blogs – thanks for the mention!
These responsible savers, at and approaching their early 60s respectfully, have done VERY well for themselves and should have no worries in retirement with the following assets: RRSPs ~$1.3 million, TFSAs ~$44,000 and then they have $201,000 in a taxable account and a paid off home worth $725,000. Hard to believe folks think they can’t retire on that in their 60s.
My buddy Stephen Weyman highlighted some of the best no-fee cash back credit cards in Canada.
If you’ve been reading my Weekend Reading editions for the past few weeks, you’ll know my wife and I are starting some purging (as we start the process to downsize from our existing bungalow in the south end of Ottawa to a condo in the city). As part of this purge-mode, I have dozens of personal finance and investing books I want to giveaway. I have a giveaway still running for a few more hours here.
I will announce the winner of that giveaway in the coming week.
OK, here is the latest giveaway:
Enter to win my gently used edition of The Quest for Alpha by L. Swedroe.
Deals and reminders
Here is a free trial to unbiased stock and ETF suggestions in Canada. This can help you set-up your new low-cost, self-directed portfolio!