Weekend Reading – Eating your own cooking, promo codes for investing, wealth-killers and more

Weekend Reading – Eating your own cooking, promo codes for investing, wealth-killers and more

Welcome to my latest Weekend Reading edition where I share some of my favourite articles from the personal finance and investing blogosphere.

Amongst some late nights at work to wrap up a project within the month, my final round of men’s night golf (where we shot -9 (63) in a four-man scramble), and running some errands, I managed to squeeze in this post:

My latest dividend income update whereby I calculated we’re ~ 56% “there” to our early retirement goal.

Slowwww and steady we roll.

Any big plans for your Thanksgiving weekend?  We’re looking forward to some downtime and seeing family.  I hope you have an enjoyable weekend too.

See you here next week where I intend to link to a MacBook giveaway!

Mark

Passive Canadian Income shared his dividend income update.  He has a year-end goal of earning $15,000 per year in dividends.  Wouldn’t that be great?  I hope he nails it.

Interesting fund but certainly one I wouldn’t invest in.  The money management fee is 0.55% and the fund has only 6 holdings – all Canadian banks.  Who buys this stuff? I would rather own these companies directly, wouldn’t you?

Meb Faber is eating his own cooking – investing most of his money in just one fund.  Sadly and not really surprising from Meb’s article:  “Half of the 15,000 mutual funds in the US are run by portfolio managers who don’t invest any personal monies into their products.”  Ouch.

Rob Carrick believes the #1 wealth-killer might be a car payment.  After a long-term mortgage, I would say he’s probably right!  From the article:  “Can’t find money to save for retirement? How about buying a cheaper car and directing some of your car payment budget to savings?”  I hear ya.  I drove this beauty for almost 18 years.

Don’t forget about my Beat The Bank giveaway – enter in the next few hours to win a copy!

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Mark Seed is the founder, editor and owner of My Own Advisor. As my own DIY financial advisor, I've grown our portfolio to over $500,000 - but there's more work to do! Our next big goal is to own a $1 million investment portfolio for an early retirement. Subscribe and join the journey!

10 Responses to "Weekend Reading – Eating your own cooking, promo codes for investing, wealth-killers and more"

  1. Hamilton 6 Cdn Bank fund.
    Each month they will re-balance (buy & sell?) and put 80% in the most expensive (oversold) and 20% in the under-sold. Sounds backwards to me, as the undersold might have dropped in price and therefore provide a higher yield.
    Agree, just buy the banks stocks you like and hold for the growing income, without paying any fees or re-balancing.

    Reply
    1. I thought oversold should mean cheapest? For example, BNS is definitely oversold right now.

      The only one I am missing is NA. On my buying list. Looks like they think right now TD is among the oversold ones? How so? I feel TD is pretty expensive right now.

      Reply
    1. Not yet mortgage free Passive. Hopefully in another 5 years. Our two major financial goals by age 50 are to be 1) debt-free/mortgage-free and 2) own the $1 M portfolio to start drawing from for semi-retirement/part-time work. Fingers crossed!

      You? What are your big money goals?

      Reply
  2. Wrong again!.
    But if one is selling the high ones each month then Capital Gains will occur. Wonder what they’ll do if the markets drop, then there would be Losses and they would have to wait 30 days to re-buy
    “The 30-day rule in the stock market – commonly referred to as the “wash sale” rule – affects the taxable gains and losses on stocks you sell. The purpose of the rule is to prevent you from selling stock for a tax loss and buying it right back. An understanding of the aspects of the wash sale rule will prevent you from unintentionally running afoul of it and increasing your income tax bill.”

    Reply

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