Welcome to a Remembrance Day edition of Weekend Reading.
Here were my posts over the last week:
October 2016 Dividend Income Update.
I encourage you to take some time this weekend to remember those who fought for all the freedoms we enjoy today. It’s because of their sacrifices that despite some turmoil now and again, we live in the greatest country in the world. #LestWeForget
We also owe the men and women who continue to serve our country the utmost respect and gratitude – so thank you.
Cait Flanders is set to sell thousands of copies of her mindful budgeting planner for 2017.
Barry Choi told us about the stark realities if you can’t pay your credit card bill.
I liked what Bridget Eastgaard told her friends at Tangerine Bank recently:
Tom Drake said a good way to increase your income is to start a home-based business.
Dividend Growth Investor said timing the market is both costly and risky. Not to mention nearly impossible.
Tawcan believes some frugality can prevent catastrophic events on earth.
Ben Carlson wrote about how investors develop bad habits. Learning the wrong things from the wrong people is one.
Last but not least I want to thank my friends at Canadian MoneySaver for the opportunity to deliver my DRIPping Canadian Stocks webinar last night. Check out their site for copy of my presentation soon. I look forward to writing some new content with them in 2017.
Have a great weekend!
Today is a day of Remembrance. My grandfather Harry Johnson a firefighter for the City of Winnipeg, who fought in WWI. I have no clue where or what he did in the war. Two of my uncles, Private Albert Gosselin of the PPCLI who gave his life in Italy July 22, 1943 and Anton Jensen with the Essex Scottish Regiment as well as the Royal Winnipeg Rifles (1944-1946), wounded in Europe but survived the war and recently passed away. My father, Lauritz Jensen with the 1st Canadian Parachute Battalion (1942-1945) participating in Operation Overlord in the invasion of Normandy, France returning to Canada in 1945. My neighbour, Douglas McIntyre serving in WWI who sold me his farm in 1979 and passed shortly afterward. They ask for nothing but to be remembered, how can we not.
Thanks for sharing Lloyd. I feel we owe our veterans a massive amount of gratitude – the world could be a very different place today without their sacrifices.
Was in the Army Reserve and the RCAF. Enjoyed my time in the forces and though there were some rowdy times & people, most were great people. Those who serve deserve our respect and especially those who serve abroad. For many years they were the ignored accept for one day a year!
I am very appreciative of the freedoms I have thanks to people like you cannew. I think about those that serve our country often, beyond just today. Thanks for your comments.
#LestWeForget: my grandfather was in WWII for five years; tank division starting in Africa and moving all the way up to Germany. He never mentioned a single word about the experience — ever — but I’ve seen pictures of him pre/post war…like day and night. His carefreeness was stripped away, I suspect, replaced by a deep understanding and appreciation for basic life itself. He definitely was not weighed down or bothered by the myriad of trivial/’little things’ in life. Veterans have a unique wisdom which is borne from a unique experience, that being war/combat. Fortunately, most of us will not have to live through the same, so the best we can do is let them share and value their experience.
Bridget Eastgaard/Tangerine Bank: I’ve said this many times before, and it’s always befuddled me, most of us work hard (many at tasks we don’t overly enjoy) to gain our money…but then our joyless effort stops, we don’t make our money work hard for us — “using money to make money”. Perhaps most people view their paycheque as a reward for slugging through hours of low job satisfaction and unfulfilling work and thus allocate said monies to pleasurable (numbing?) endeavours instead of taking off the employee-for-money hat and donning the boss-OF-money hat.
Ben Carlson/Bad habits: “Learning the wrong things from the wrong people…” an addendum to my comments on the previous ‘Weekend Reading’ edition re: the ever-rising flood of personal finance books and blogs. Everyone thinks their opinion is not only right for them but correct for all others also. And people fall for it time and time again — “It worked for him, so it’s gotta work for me!/It worked for me, it can work for you!” It’s a case of information over-load, with most of it being rubbish — learning the wrong things from the wrong people.
From the same article:
“The human brain is like any muscle in the body — it can get fatigued and can’t always operate at full speed.” A good a reason as any why so many people don’t pursue the act of “using money to make money”. At the end of a long work week, it’s far easier to either spend your money on fun stuff or just hand it over to a financial advisor and let them make all the “difficult” decisions. Neither will get you very far.
“Willpower can be fleeting once decision fatigue sets in.” This is scientific and a great reason why people like Michael James have set up an automatic investment spreadsheet. As above, in an environment of information overload, decision fatigue can set in quickly. It’s also why Obama only wears two colours of suits, it saves his brain from wasting decision power. 😉
“Just because something worked doesn’t alway make it a great decision. Sometimes the worst thing that can happen to an investor is they make money on their investments but for the wrong reasons.” It’s the old adage, don’t confuse genius with a bull market. People see their accounts growing and they don’t really care why and then if/when the investments go wrong…the investor also goes wrong. The US housing bubble was a perfect example.
Tawcan/Frugality: I was going to post a separate comment because there’s lots to comment about, but upon second thought…forget it. I’m learning to be frugal with my personal energy expenditure — I’m saving the planet by saving myself. Ha! People will hold populist views simply because they are easy, accessible, and simple. There’s no will to suss out ALL the FACTS (i.e. the aforementioned ‘brain fatigue’), thus we get things like vegans and Prez Trump. Sigh.
Actually, I always enjoy reading your comments. So please do not be frugal with them.
I cannot imagine the pain and horrors our veterans went through. I think of them often, beyond today, and it’s important to reflect.
I know you have mentioned this re: we don’t make our money work hard for us — “using money to make money”. I certainly have never viewed my paycheque as something to spend; I’ve always appreciated the power to do something useful with it. More and more, my wife and I are seeing the benefits of simply being boring; when it comes to investing that is…invest, stay the course and get the hell out of the way 🙂
There is absolutely a flood of new blogs and books and the like. I often wonder how much of this information is actually useful to people? More clickbait than anything? Also, are they able to act on it? Again, a behaviour conversation that extends far beyond knowledge… Ben is a bright and I follow his blog for his insights even if I don’t agree with all of them.
I was curious how frugal are you SST? Do you drive a shitty old car like I do? 🙂 I do that so I can invest my money in other things (i.e., see dividend income growing every month) and to enjoy other things in life that provide more value to me. An example of the latter is going to the Senators game tonight with my Dad. Experiences with him and family, I cannot put a price on and are worth far more to me than any BMW I could have in my yard. It’s just a car after all.
thank you for your input above which i totally agree with and for having me spitting my coffee out with laughter at your last sentence! (:
my reply was for sst! my grandfather fought in ww1 and my dad and uncle in ww2.
Thanks for the mention Mark. I agree that timing is impossible. I was going with “Costly, Risky and Foolish”, but then decided to soften it a little to “Costly, Risky and Difficult”.
Congrats on your webinar. I look forward to checking those slides out when they are published.
Thanks DGI. We share a very similar investing approach – one that is working for us – it’s great to see the respective progress. Continued success as well.