Weekend Reading – Monopoly, wealthing, million dollar homes, and more #moneystuff
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.
These were my articles from this past week:
Here are the benefits of a 6-pack Canadian stock portfolio (six stocks for starters) – including an interview with the author and a book to giveaway!
I shared some thoughts on budgets and why planning as a life skill is at the heart of it.
Did you watch the Royal wedding? Any big plans for the long weekend?
For us, a bit of work around the house and some downtime – which is great.
All the best to you and enjoy your weekend as well.
Mark
A reminder about this giveaway here: enter to win my gently used copy of Wealthing Like Rabbits by Robert Brown.
Related to Wealthing: You can find a review of this book on my site here. I also interviewed the author a couple of years ago here.
A Wealth of Common Sense highlighted a few money subjects including this at the end: “Salary is not the same as savings. Luxury does not always equate to wealth. To get ahead, no matter how much money you make, requires you spend less than you earn.” This is part of my mantra as well to get ahead.
MoneyMaaster is a new investing blog and he has a nicely stocked bar as well.
This Marketwatch story said you should have double your salary by age 35. That’s a good benchmark to know if you’re on track to retire by age 60 or 65. With soooo many competing demands for Gen X and Gen Y money, including student debt burdens, it’s hard to imagine barely half of those aged 35 would have accomplished that goal. For what it’s worth, here is our plan to own a $1 million portfolio (or close to it) by age 50. It’s an incredibly ambitious goal but I think we can get there.
Here is some retirement planning for late-starters from Boomer & Echo.
Under the “Did you know…” category:
Take advantage of these saving and investing deals!
Have a great weekend!
Mark
Mark
My name is Mark Seed - the founder, editor and owner of My Own Advisor. As my own DIY financial advisor, I've surpassed my goal and now investing beyond the 7-figure portfolio to start semi-retirement with. 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.
SST, that’s awesome on a Canadian setting the pace on that leg. That’s a serious climb and the fitness needed to race and lead- incredible.
I know little of bike racing. The sport had a reputation for being so dirty..obviously Lance created a lot of attention on this. Where does this all stand now?
Thanks for taking a brief interest in my hobby!
Cycling is to Canada as hockey is to Argentina, thus understandable it rarely enters the public consciousness.
Mike Woods used to be a phenomenal XC runner so it’s almost a natural transition for him (e.g. Canada’s Clara Hughes’ rare success as both a speed skater and cyclist).
As far as Lance and the dirt of doping goes…as long as there is money to be had, I’d say cheating in some form or fashion is inevitable at the highest levels in all walks of life — sport, entertainment, politics, manufacturing, finance, etc. Some get busted, some don’t. That’s life. Cycling seems to be getting cleaner, but when the current Tour de France winner (and team) is currently under a doping investigation…it’s kinda like WWF on wheels. 😉
If you want a real eye-opener, watch the Oscar-winning documentary ‘Icarus’. Goes from a disillusioned Lance-lover wanting to do the same doping program to Russia being kicked out of international sporting events in very short order. Scarily, one could even make the connection that if Lance didn’t dope, Russia wouldn’t have invaded the Ukraine!
Hey you’re welcome. I have a mountain bike but don’t spend much time on it. Running was my thing and I’m trying desperately to hang on to it. However I can appreciate the athleticism for these guys coming from being a competitive age group runner into my mid/late 40’s 1 mile thru marathon. If I was into the bike I’d guess the notch in the belt would be a century ride.
Appreciate the info. I read Clara’s book a few years ago and Lance’s back in ’01 I believe. I’ll have to check our Icarus. Russia and doping- yeah big time.
re: …mouldy, run-down, $3.8 million dollar home in Toronto “is a steal”.
It’s all relative. As I recently commented, it’s the land which is the investment, not the structure. For instance, on my 2018 assessment, my structure/house comprises a mere 10% of the taxable value (and much less of market value that’s pushing close to $1 million). The public has been bamboozled, for decades, into thinking the house provides the real value. Thanks HGTV and all your marble countertops.
re: Monopoly
I did know that. However, exactly zero people who play the game are mindful of the fact of economic inequality. Once the first die is rolled, greed is the driving force. Interesting to note that the end-game closely mirrors real life, with ~10% of the participants owning everything.
re: Did you watch the Royal wedding?
Uh…no. I did, however, watch & celebrate an actual feat of worth: Canadian Mike Woods establish the fastest (Strava) time up the Tour of Italy’s Monte Zoncolan — perhaps the hardest climb in professional cycling.
Yeah, I knew about the Monopoly as well…it’s really a game of greed but I wonder if that would have sold as many boards? Monopoly just sounds more savvy and not as blunt 🙂
I “Googled” that Tour of Italy climb. That is insane.
SST – re the 3.8M property you’re correct it is the land that that’s the valuable part – it is literally one of a kind 2 acres overlooking Lake Ontario – I’m guessing it will be subdivided and redeveloped with at least 3 or 4 (or more) homes each going for least 3-4M – I’d go for it but do not have the capital 🙁
No way I have the capital here! 2 acres looking at the lake would be nice though.
Hey Mark
I’ve been a big fan for along time (first heard about this site on Canadian Money Forum). Thanks for the mention! Keep up the great work.
-Jordan @ Moneymaaster
Thanks Jordan! All the best to you and stay in touch. Let me know if you want to do a guest post on this site or an interview with me. Win-win.
Cheers,
Mark