Weekend Reading – Building wealth, more dividend income, gifting $200,000 for houses 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.
During your busy week, were you able to check out these articles?
Welcome to summer, officially, based on the calendar! See you on the site this weekend and next week.
Other articles…and a giveaway!
I encourage you to enter this giveaway here from my personal finance library – enter to win a draft of this book Building Wealth and Being Happy – The Practical Guide to Financial Independence – a book I reviewed here.
Million Dollar Journey is accelerating closer to his dividend income goal for an early retirement. I’ve certainly got some catching up to do – but working on it in my latest income update here.
Thanks to a reader who pointed this out, an interesting site to help young adults improve their critical thinking here. I was surprised to learn a world-class poker player helped found this organization.
Hard to believe some parents are this generous but I read an article on gifting recently that mentioned:
“…a 60 year-old recent retiree, who is considering gifting $200,000 to each of her two adult children in an effort to help them crack the Toronto housing market. Anne’s been clear that the money is only to be used toward a down payment. Through prudent saving, modest living, wise investing and her late husband’s life insurance policy, she has amassed an $800,000 portfolio. But the question is: can she afford to gift $200,000 to each of her two kids, leaving her with only $400,000 to live on for the next 30 years?”
Can you guess my answer? Sheesh.
A reminder millennials can get rich slowly if they follow the advice here – or anyone can for that matter. This post includes a link to a free ebook from the author.
I echo Robb’s comments from Boomer & Echo: “In what should have been a historic day for Canadian investors, the Canadian Securities Administrators (CSA) instead disappointed with watered down reforms that skirt around the edges of true investor reform.” When I read this stuff I think “damn…I’m so happy I’m a DIY investor and don’t pay much money at all in the way of money management fees…” However far beyond that feeling, I know there are hundreds of thousands of investors out there who need help with their investments; want help; they are trusting their hard-earned dollars with some biased salespeople who have commissions (not client duty) as their main interest. Really too bad CSA. You could have been a real leader here.
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