Welcome my latest Weekend Reading edition.
Well, the Sens are out of the NHL playoffs but it was a great run – very proud of the hometown team. I hope they don’t reshuffle the deck too much in the off-season.
The weather remains soggy in Ottawa but I am getting to the driving range more (when it isn’t raining) and I hope to play more golf in June.
We have a few weekend getaways planned over the summer starting next month. How about you? Any big plans?
I managed to sneak in these two articles this week:
Enjoy the rest of these articles this weekend and I’ll be back next week to talk about some low-cost custom portfolio solutions to consider. Take care!
Dave Ramsey believes you can start saving for retirement at age 40 and still become a millionaire. I’m not convinced. Although anything is possible I feel this is a flawed argument for two big reasons. 1) His expectations for investment returns seem out of whack. “In order In order to retire with $1 million in 25 years, a 40-year-old just getting started would need to invest $800 a month—a little less than 20% of the average $50,000 income.” My quick math tells me you’ll need 10% investment returns for 25 years saving $800 a month starting from zero. Good luck finding that 10%. 2) Most people who haven’t figured out how to save – anything – by age 40 will need a radical financial behavioural shift. Most adults I know struggle with change. It’s not our fault entirely we’re simply wired that way. Not likely to happen Mr. Ramsey.
Here’s why you might not be ready to start paying off your debts.
The Blunt Bean Counter believes Canadians need to talk about money – more.
John Heinzl offered some advice for coping with market mayhem.
Krystal Yee has decided not to burn her mortgage. I’m with Krystal on this one – we’re about balance here too. Although we have some mortgage debt, and we’re working on killing it over time, I’m not about burn myself out worrying about it.
A Wealth of Common Sense wrote about the expectation of losses.
How to invest with lower (predicted) stock market returns? Here are some ideas.
Andrew Hallam provided some data to suggest there is no such thing as a stock picker’s market.
Family Money Plan fired his financial advisor.