Weekend Reading – #RRSP deadline advice, selling our house, retirement using ETFs, 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.
Well, we put our house up for sale this week.
Stressful, but necessary stuff.
It’s all part of the move to the city that will happen in just four more months – something I wrote about here in my housing dilemma series.
Overall, we’re really excited to own our condo in the sky – a 1,200 sq. ft. 2-bedroom condo on the 6th floor of a building in the core of our city (Ottawa) within 30 minutes walking distance of everything – including work. We’re also fortunate to have a 286 sq. ft. private terrace as well off our living room – which should be great to relax on in every season but our current, long, cold, dreary winter.
I’ll keep you posted on the sale process. We’re optimistic with four private showings booked already, within 48 hours of listing, we have a chance of selling this house.
Finally – if you live in Ottawa, want to move to this lovely spot, send me an email! I’ll be happy to send you the listing for you, family or friends!
Congratulations to Ross and Tony, winners of the Pensionize Your Nest Egg books via this review and post on my site – why you should consider pensionizing part of your nest egg at some point. The author will be sending your book in the mail soon!
Amongst work obligations, and listing our house, these were my posts this week:
Have a great weekend!
Interesting MoneySense column about why so many athletes run into financial trouble. From the article, some wild stats:
“The need for athletes to get their money managed professionally should be apparent from a WyattResearch.com report (publicized in Sports Illustrated in 2009) that found an astounding 78% of NFL players and 60% of NBA players file for bankruptcy within five years of retirement.”
Dale Roberts wrote about creating a retirement portfolio using low-cost ETFs. I think such an approach is great but you need to be mindful of the following, which Dale wrote about:
“Selling assets continually when the market is down kills the cow. You’re owning less of the companies. You’ve had to sell large portions of your shares to fund retirement; you’re decreasing your ownership of those companies and profit centres.”
This is why my bias is to own a modest cash wedge in semi-retirement – something I’ve written about.
In using a cash wedge, I can ride out short-term bad markets without selling any assets. Also, in using an income-oriented approach, I can largely choose when I want to sell assets – cutting back on my expenses in a bad, prolonged market while continuing to “live off dividends”.
Royal Bank increased their dividend this week. Thanks very much – more income to report in February!
My friend Robb Engen wrote about taking CPP at age 70. I find there is little that gets some retirees more fired up than discussing CPP or OAS or changes to CPP or OAS. Don’t challenge their golden goose Robb!
Hey fans…it’s RRSP season again – that means the March 1, 2019 deadline for contributing to an RRSP for the 2018 tax year is approaching fast.
Are you contributing this year? Why or why not?
Here are some of my top posts about investing in this account while being tax-efficient and considering beneficiaries as well.
Should you draw down your RRSP before taking any workplace pension? It could be a great idea.
Can you have too much money in your RRSP? Even if you have a workplace pension? I highly doubt it – here’s why.
Save, invest, and prosper this month!
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Happy investing and see you in the comments section!