Weekend Reading – Could Loud Budgeting Work for You?

Weekend Reading – Could Loud Budgeting Work for You?

Hey Folks, 

Welcome to a new Weekend Reading edition, sharing that some form of ‘Loud Budgeting’ could probably work for you!

Before that take, a few recent reads and posts:

Of course anyone could be a financial advisor, but this title can be confusing to many Canadians and I’m not sure the industry is making things more clear…?

I posted our January 2024 Dividend Income Update. Unfortunately, I continue to receive some negative feedback on these income updates, including from some financial professionals, resharing that dividend investing is not a strategy at all and it’s a “poor way” to invest. 

I find these comments unfortunate… I guess that’s part of the rub if you put part of your life online – you are naturally opening yourself up to criticisms in how you manage things. 

Last time I checked, there was no one perfect portfolio and there was no singular, ideal way to invest.

I’ll continue to post my updates moving forward and I’ll need to accept the increased criticisms along the way. Maybe if I tell everyone I just invest in only a world of stocks some folks would be more accepting…

This takes me back to some other online attacks, more blatant ones sadly in this post:

Weekend Reading – Is it worth paying off your mortgage early?

Weekend Reading – Could Loud Budgeting Work for You?

Weekend Reading - Could Loud Budgeting Work for You

Image Source: Pexels, Andrea Piacquadio.

You know, I was a bit skeptical about the concept of ‘Loud Budgeting’ until I dug deeper. 

What I found was, a sense of motivation and focus from a younger generation of savers and investors. That’s all fine and good in my book even if I shared my financial goals differently way back when. 🙂

I believe this ‘Loud Budgeting’ approach could work for you too – read on!

‘RRSP season’ is here and Dale Roberts has a nice list of reminders and refreshers for you. 

How to invest this RRSP season.

I hope to update more of my own RRSP-related content in the coming weeks and also share how we intend to invest in that account over the coming year. 

If you are making withdrawals from your RRSP or RRIF this year, please watch out for those taxation impacts – because you have deferred taxation up to this point. 

Watch out for RRSP and RRIF taxation

Holy smokes, he’s killing it folks…

Dividend Daddy is one passionate stock investor and real estate investor. 

My friends at Stocktrades shared their list of top Canadian utility stocks. I happen to own a few of those and have done so for about 10 years. 

Related to boring utilities, BIPC/BIP and BEPC/BEP increased their dividends again this week. BIPC/BIP has been on a nice run in recent years as a major infrastructure player. 

BIP and BEP and XIU February 2024

Source: Portfolio Visualizer. 

Not sure of the exact Bankrate source below, but wow, if true from @unusual_whales:

Lots of ways to invest, as mentioned countless times on my site, and Ian McGugan from The Globe and Mail believes Canadians are bananas for not embracing index funds (compared to higher cost alternatives and active money management).

From the article (subscription):

“The upshot of all this is simple: Investors should take a close look at index investing.”

“No, you don’t have to go all-in on indexing with these products or others. You should, though, take a close look at them and know what you’re missing if you choose to go in another direction.”

No debate there. I believe some indexing products can be very healthy for your portfolio and I’m only happy to own a few low-cost ETFs here. I continue to refine all my investing holdings over time. 

Love the quote, Shane:

Have a great weekend eveyrone and I wish you well.


My name is Mark Seed - the founder, editor and owner of My Own Advisor. As my own DIY financial advisor, I'm looking to start semi-retirement soon, sooner than most. Find out how, what I did, and what you can learn to tailor your own financial independence path. Join the newsletter read by thousands each day, always FREE.

30 Responses to "Weekend Reading – Could Loud Budgeting Work for You?"

  1. Hi Mark: Another great post Mark. Don’t listen to those financial advisors as they don’t know everything. I don’t seem to presume that I do but I know that there are many ways to make money and be financially successful. I sometimes get a laugh out of them. I’m sure you have read the analysts upgrades and downgrades in the Globe. One time a bank made 3 times the profit from another quarter but the analyst downgraded the stock because although its profit had gone up 3 fold its P & C where slightly lower than the last quarter. This I found funny. I don’t know about you but I treat the bank as one company with multiple streams of revenue and so I don’t care how the bank made a profit as long as it makes a profit. Who cares if they made most from wealth management or P&C or visa versa. Another time a company’s revenue was lower than the previous quarter and the analyst raised its rating because although it lost money it didn’t lose as much as the analyst thought it would and the opposite is also true. It is reasonings such as this which make me laugh. I too have criticized you but it is just two different views on investing as when I buy a stock I wish to get paid fairly for investing in it so a $100.00 stock that pay’s $0.64 is not my cup of tea. I have been in the market for 55 years and am still learning. Your article back in the summer about designating a beneficiary for the TFSA came in handy and I had it done. As I’ve said before I have found it very rewarding investing in dividend stocks and it has helped me GET RICH SLOW. Investing in small companies and watching them grow into big companies I call speculation and yes you can lose on some huge winners but you also win by not investing on some huge losers. I’ll take the slow and steady path any day. Keep up the good work and keep investing.

    1. Thanks, Ronald. It’s only been one or two professionals that have really been targeted on some things.

      I’m doing what I can to tune out the noise and ignore the negativity. Seems like such wasted energy.

      Thanks for the words of encouragement and glad the TFSA in particular was helpful for your decision-making!

  2. Hi Mark,
    I am an index investor who finds your blog valuable. While I might not invest in individual companies or closely track monthly dividends, we share concerns about portfolio construction, markets, tax issues, retirement, etc.

    And on top of that you’ve laid out your approach clearly. You are realistic and have explained which personal factors make dividend investing a good fit for you…and why it might not be the right fit for everyone.

    Thanks for blogging and sharing useful information with us all!

    1. Thanks, Stefan – totally, re: I try my best to share those personal factors that make my approach, hybrid investing, a good fit for me even though this approach might not be tailored to everyone.

      I know successful investors that own only 2-3 ETFs max + some cash and that’s “enough” work/of a portfolio for them.

      I also know some investors that own <10 stocks, no bonds, no GICs, no ETFs/funds, etc. and they are also very successful.

      There are also real estate investors that don’t own any stocks at all…in my circle…and you guessed it, are very successful too.

      So many ways, and variations to meet your goals. I just find it incredible some folks including some negative professionals are so narrow-minded. Too bad really, I certainly wouldn’t want to be their client!

      I appreciate your comment.
      Have a great weekend,

  3. CJ (57, will retire @ 59) · Edit

    Hi Mark,
    Thanks for another great post. I enjoy following your blog and find it helpful, it aligns closely with my investment philosophy.

    1. Great stuff, CJ. I enjoy running the site, sharing my income updates, etc. It’s very nice to engage with other DIY investors.

      I’m sure my investment philosophy will alter a bit with time but for now, so far, so good on the results.

  4. Hi Mark,
    It is quite funny that you receive criticism but not at all surprising. I look forward to your posts to refresh and increase my knowledge. Perhaps you could post one or two of the feedback (criticism) you receive so we can see and comment ourselves.
    A good quote I remember is appropriate…
    “If they are not razzing you or criticizing you, you’re not in the game”
    Look forward to future posts.

    1. Ya, not all too surprising given what I post, my income journey, etc.
      I enjoy the blog because I often learn from readers too! It’s a path for learning and development for me too.

      I like your quote!
      Have a great weekend,

  5. I have found that there will always be someone who criticizes what you do, whether it is your financial affairs or other aspects of your life. I always put the filter up so that they can’t affect me, assuming it is unwarranted criticism. Sometimes I learn something, but most of the time, not. Please keep up your blog and website as I find it most helpful and by following the same strategy, my income in retirement has been all that I could have hoped for. Also, my investment portfolio keeps increasing, with minor hiccups now and then. It has been the best strategy I have used along the way to retirement.

    1. Thanks, Jan. Very fair comment of yours for sure…

      I do enjoy the blog and I will try and tune out the noise more!

      Great to read too: “…as I find it most helpful and by following the same strategy, my income in retirement has been all that I could have hoped for.”

      Pretty great when your portfolio can meet your income needs and more! 🙂

  6. Hi Mark

    Please carry on sharing, it’s very helpful. The time you spend is very much appreciated. There are very few resources for individuals who need help with financial matters, particularly how to fund their life in retirement. I have used several “Financial” advisors since 1980 and they were pretty much useless. The information you deliver…I wish I had this back then.
    There are probably many reasons people would take issue with and respond negatively to your posts. I would assume they are jealous of how successful your plan is and how it has evolved.

    Put on the filters and carry on ! Hopefully you can set aside the trash talk.


    1. Thanks, John. I enjoy running the site but certainly some make it rough – but that’s what they want you to feel I suppose!

      I certainly think some fee-only-planners are great, but the idea of handing over 1% or more of my money to someone else makes me cringe unless of course you are getting lots of value from them, including for a very complex corporation. Otherwise, I don’t get it. 🙂

      “Put on the filters and carry on ! Hopefully you can set aside the trash talk.”

      I like your advice!
      Have a great weekend,

  7. Great reading for the weekend. I’m interested in your comments on the dividend investing criticisms you receive. As a new-ish investor (I’ve only been managing my own investments for a few years) I’m on the dividend bandwagon. I read a lot of books and one that really stuck with me was The Psychology of Money. There is a really good point in there about the noise, and that often, the advice we hear is for people playing a different investing game (day trading).
    I’ve come across the same criticism when I’ve explained my strategy to friends or family, but I always come back to my investment thesis (thanks mike at DSR) and I hold steady.
    Not everyone is playing the same strategy in the big game of financial independence and that’s okay. Everyone’s situation is unique and personal experience and risk tolerance shapes the strategy a person is comfortable with.
    Keep doing you and sharing what you do. Some people will like it, some people will disagree. Ignore the noise. If it works for you it works. Not everyone is out her trying to become the next billionaire – some of us just want to live quiet and not worry too much about life 👍🤓

    1. Thanks, Alfie.

      The negative comments usually include dividends are a “poor way” of investing and “you are doing a disservice” to DIY investors with your posts.

      Actual words to me.

      It’s unfortunate, really.

      I suspect these folks are very insecure.

      I post my content because I enjoy doing so and trying to pay it forward, even if folks 100% disagree with my ways. There are ways to disagree with others and do it respectfully but I grow tired of feeling a target.

      The people that are usually negative are people that are not happy with themselves. I can’t fix that for them and I feel sorry for them.

      I welcome all strategies and success stories. I really don’t care how you meet your goals. I just hope that you do.

      It’s really that simple.

      I appreciate your comment.
      All my best 🙂

    2. Alfie,

      Re: “There is a really good point in there about the noise, and that often, the advice we hear is for people playing a different investing game (day trading).”

      Each to their own but seriously day-trading is not investing, its high risk trading, ie; “gambling”.

      1. I would agree with that, Bernie – certainly not a trader here and never aspire to be one. I’ve found that boring tends to work well when it comes to investing.

        Have a great weekend,

      2. Absolutely, that’s why it stuck with me. It really clarified that there are different ways of doing things and making sure you’re listening to the advice that matches your strategy.
        I’m a very low risk person and learning about dividends was a whole new world. But I realize also that a lot of advice/noise online is geared to that kind of glamorous day trading movie style of doing things 🙂 not for me.
        I think it was Warren Buffet or one of those guys that said investing should be like watching paint dry – that’s just fine for me too. 👍😂

  8. Lloyd (63, retired at 55) · Edit

    “resharing that dividend investing is not a strategy”

    Not sure why they’d be opining on this. Given the definition of “strategy”, they’d have to know and understand what the aim is.

    1. No idea about their motives, Lloyd, but I do know folks picking fights online is pretty childish.
      I’ve decided to disengage with anyone that cannot be respectful and have any sort of meaningful discussion about the multiple paths to invest.


    2. Some of these folks, including sadly a few so-called “professionals” are just trolling. If this is how they treat folks in public per se, I wonder what they are like behind closed doors?

  9. Morning Mark,
    Enjoying your emails and still learning. I’m an index investor who has learned from you to not only note capital gains/losses on funds but also to take into account paid dividends. I’ve just noticed on the “projected income” portion of my investments for 2024 (TD WebBroker) that XIC pays no dividends – is this new or have I just overlooked this in the past?
    Thanks so much shedding light on this as well as the service your emails provide to so many of us.

    1. Lloyd (63, retired at 55) · Edit

      All of my Blackrock funds (XEI, XDIV, and XIC) showed no forward dividends on my TDDI as well for a few weeks. I *suspect* this was caused by the “phantom distributions” throwing everything out of kilter for January and TDDI suppressed the information. With the monthly distribution announcements, XEI and XDIV have returned to normal. I imagine XIC will return to normal when Blackrock announces the next distribution.

      1. You could be very right, Lloyd.

        I like XIU as my favourite ETF for Canada since you get income, you get capital gains, and that ETF is very tax efficient.

        That said, XEI is very good as are others. Splitting hairs a bit.

        I appreciate your contribution.

        1. Lloyd (63, retired at 55) · Edit

          I use XEI and XDIV in the accounts where I want income to be generated. Specifically the RRIF and LIF. The monthly distribution towards the last day of the month more than covers the minimum withdrawal on the 15th. As close to perfect timing and automated as I could easily find.

          Hold some XIC in the TFSA, can’t remember why I chose that one for there but I did. 🙂

  10. Hey Mark I have really enjoyed following you over the past many years but the advertising on your site has become a little crazy. Gambling advertisements is the straw that has done me in. I’ll check back from time to time to see if things have changed. Good luck in the future.


Post Comment