Weekend Reading – More millennial bashing, dividend increases, GTA condos, free stuff and more #moneystuff

Weekend Reading – More millennial bashing, dividend increases, GTA condos, free stuff 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.

This was my article from this past week:

There are many portfolio draw down approaches out there – all of them have pros and cons – but this approach (VPW) might be best of them if you want to ensure you have enough money to last through retirement and you have no plans to leave an estate.

Enjoy the rest of these articles and see you here next week!


Other articles…

Interesting opinion column in the Globe about bashing (or rather to stop bashing) 30-year-olds that live at home.  Some fair comments but also some unreasonable assumptions.  For one, not every millennial needs to live in Vancouver or Toronto.  Secondly, I often wonder what kids are taking in school – are they taking education or acquiring skills training in demand?  STEM?  Three, I get life is expensive. 

I wrote about millennial bashing here.  Life is getting expensive for everyone not just millennials.  The silver lining?  Even with Trump protectionism our growing, sharing economy is providing a world of choice and options that never existed when I was young.  Not even close.  I believe this is a huge opportunity for you (millennials).  I have no doubt you can seize it.

BMO increased their dividend this week – hooray!  This confirms I got some of my financial predictions correct this year…a post I need to update this summer.

National Bank increased their dividend as well this week.  Awesome.  Another $20 to the yearly income derived from our portfolio (that I hopefully never have to work for again).

This 60-something wishes to retire soon and wonders if she has enough to earn “…$35,000 per year after taxes.”  She also wonders if she should contribute to her RRSP or open a TFSA.  Do you support the author’s conclusion?

Interesting infographic here – the largest condo developers in the GTA.  I had no idea there were so many.

Although I do have some posts from partners and sponsors on this site from time to time, I do it with brands I know, and trust.  Not this spam:

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Happy Investing!


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.

9 Responses to "Weekend Reading – More millennial bashing, dividend increases, GTA condos, free stuff and more #moneystuff"

  1. RBull (59, retired, married, rural coastal NS) · Edit

    I agree with what you wrote about living costs apply to all, silver lining and ….location, opportunities for millenials. I wrote about this in your millenial bashing post but didn’t much buy in, but pushback that boomers are cause of many of our problems. No offence intended to anyone. LOL

    RE adult kids Rob Carrick had another post on that in May 30 edition. can’t link.

    I didn’t run calculations on the assumptions Mark. Just some “rough” ones per below with a different scenario.

    Inclined to agree cannew on the adult children….hard not to read this 60 retirement story and wonder if that isn’t at least part of the solution to improve cash flow that could go to savings??? 20K in “savings” acct. earning zero?? 2.3% is easily achievable $460/yr without even considering other investment options. Sell the house @ 65 and rent apt. Kids will be forced out then if not sooner. 600K in using VPW 60/40 portfolio generates 30K annually and rising to age 99.
    30K from 600k house equity age 65-99 (tax free TFSA ~4k, dividends ~20K?, ~6k cap gains?)
    18.9K from OAS/CPP
    15.8 from RRSP 60/40 to age 90
    0.5 emergency fund (if desired)
    65.2 Total gross. Adjusted taxable income 60.7K

    59.1k Net (tfsa +4K, taxes -5.6k)

    59.1k – 20K? rent = 39K NET of rent plus she has additional cash flow from eliminating expenses of property tax, repairs etc probably 5-10k annually

    1. Totally agree with the cash flow to savings.

      I would certainly sell the house, put the proceeds into low-cost income oriented ETFs or dividend paying stocks – and that $600,000 should churn out $18,000-$20,000 after tax for life.

      She could work about 5 years longer; build up an emergency fund. Additionally, her $200,000 RRSP could grow – could be invested in the same – there, another $6,000-$8,000 at least.

      Add in CPP and OAS – delay both until age 65 and there’s another $20,000 per year for life.

      By my math, that’s enough for her needs and she keeps the capital intact for the early part of retirement just in case.

  2. Lloyd (58, retired (but farm a bit), married, rural MB) · Edit

    That Half-Banked is a pretty good blog! I think millennials would do well to read her stuff. As to all millenials being parasites….One of the kids (a millenial) I knew when I was in Band Boosters is now a helicopter pilot in the RCAF doing flight instruction in Portage after a stint as a SAR pilot out East. Another one is a physiotherapist who just happened to help fix my shoulder a couple of years ago.

  3. Lloyd (58, retired (but farm a bit), married, rural MB) · Edit

    I’m loath to seriously comment on these financial disclosure stories as they seldom disclose everything one needs to know to formulate any kind of informed opinion. But I am struck by “She continues to help the children with modest gifts”. What is modest, do all four children get these gifts and why is she gifting to them in the first place? If one is in a financially precarious retirement situation it behooves them to take action(s) to secure that retirement. And what kind of child would allow a parent to place themselves in jeopardy and accept said gifts?

    And why would anyone have $20K in an emergency fund earning nothing yet not have a TFSA? A TFSA HISA would at least generate something and still serve the intended purpose.

    1. I’m with you on the TFSA. I would not keep cash there. I keep cash in a HISA personally. The TFSA is my investment account just like the RRSP. Likely always will be.

  4. Any child living at home should contribute to the household. Even those still in school can help with chores or even working part time to pay for some or all of their own spending needs. As for 30 and over, they definitely should be paying their way, unless they are physically or mentally unable. All others should get off their ass, take work where its available, pay rent, buy food, do cleaning and chores or Get Out.

    60 worrying about retirement: As usual there is never any mention of Dividend Investing, let alone Dividend Growth. She could easily get 4% in quality DG stocks, like the Banks, Comm, Utility and Pipeline and see the dividend grow each year. After 5 yrs the portfolio should be generating close to $12,000 per year income. If she sells her house and moves into a condo the $175k would easily generate another $10k of income (more if she max’d out a TFSA and kept adding to it). Add about $15,000 for cpp/oas and her gross, without drawing down any money should be about $36,500. Taxes on $36k would be minimal.

    1. “60 worrying about retirement: As usual there is never any mention of Dividend Investing, let alone Dividend Growth.” Interesting comment and observation since few profiles ever mention this.


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