Weekend Reading – How to build fat RRSPs, beating Buffett, unaffordable U.S. cities and more
Welcome to another Weekend Reading edition friends. I hope you had a great week.
Earlier this week I shared some financial goals we hope to accomplish in 2018. I have a good feeling about maxing out our TFSAs (I will write about that soon) and I’m optimistic we can kill a good chunk of debt this year. What are your financial goals for 2018?
I also plan to buy more of these big bank stocks this year – thanks to rising interest rates. What’s your game plan for rising interest rates? Here is our big picture plan.
Enjoy these reads including some older posts from yours truly and we’ll see you here next week!
Dividend Growth Investor made a bet with Warren Buffett, sort of – he believes this list of U.S. stocks will outperform the S&P 500 index in the coming 10 years.
Here’s how much money you need to live in some major U.S. cities. You might be surprised to learn that New York City is not as expensive as others.
4 in 10 residents in B.C. are just $200 away from financial disaster. I don’t know about you but that sounds rather dire.
Want to find a financial planner? Here are some suggestions from Financial Planning for Canadians.
Tawcan put an end to his pursuit for FIRE. I really enjoyed his article including the referenced letter at the end from a 20-something that is sadly no longer with us. Here is my article about FIRE (Financial Independence Retire Early). Upon further reflection, I’m not obsessed with an early retirement to run away from something. Rather, I want to be working towards something; something greater while enjoying the journey.
In my early 40s now, I value and appreciate time more. FIRE is something I’ll continue to read up on and give some consideration to but my wife and I are not ready to make any radical changes. More time and freedom would be great but instead of rushing towards this we’re more or less inching our way in this direction – enjoying the journey.
This past week was Blue Monday, apparently the saddest time of the year (the month between today and Valentine’s Day). From this survey by my friends from the Financial Planning Standards Council:
- “One-in-five Canadians (20%) has a credit card balance larger than their savings account.
- Younger adults aged 18-44 are especially blue about finances this time of year (68% versus 41% for those 45 and older).
- One-in-four Canadians (25%) do not have funds to escape the winter doldrums through a vacation.
- 6% of Canadians have already broken their financial new year resolutions.
- 21% of Canadians over-spent during the holidays.”
Become a better saver and investor in 2018:
Use my promo code with BMO, I can provide up to $750 cash back when you open your BMO InvestorLine account.
Thanks to this partnership you can start a free, risk-free trial account in 2018 funded with $1,000 of ModernAdvsior’s money. You will also get a $50 bonus when you open and fund a new account.
In other reads:
Dividend Earner listed his 2018 Canadian Dividend Aristocrats.
Ellen Roseman shared how Shoppers Optimum points will be assimilated with PC Points.
Ben Carlson told us we should be working less. Sounds good to me but that won’t happen for a few years.
Dan Bortolotti hosted an informative podcast with Shannon Lee Simmons. I had a chuckle when he talked to Shannon about “fee shaming”. From Dan’s site: “…the person on the receiving end of the criticism, as you can imagine, feels like they’re being called a fool. It’s a lesson for all of us who want to share what we’ve learned about smart investing: help others in a respectful way without sounding self-righteous.” Just because you invest in ETFs doesn’t make you superior.