Welcome to some new Weekend Reading friends.
Earlier this week I shared a few top U.S. stocks for income investors to consider and these are the key Millionaire Next Door concepts – should you wish to adopt them.
I’m looking forward to the weekend…I hope the same for you.
Take care and see you here next week.
Mark
This couple shunned Toronto home ownership and is now travelling the world.
How To Save Money highlighted some credit cards to consider for your wallet.
This American couple saved up their $1 M bucks to retire at age 43. From the article: they committed to putting a healthy $2,000 per month towards their investments which stood at $570,000 to build up their portfolio in 1,500 days.
Dividend Growth Investor believes there is some simple math behind early retirement.
Here are some Canadian REITs to consider.
Million Dollar Journey shared their tips for saving money on vacations.
Here is an update on Warren Buffett’s best stocks.
Thanks again to Ken Kivenko for his investor advocacy, I found out about his class action suit against TD Bank – the suit alleges TD changed the way it calculated the interest rate owed by borrowers – breaching their contract.
It was nice to read I was selected as one of the top personal finance influencers to follow this year (blog that shared that link is now defunct) – oh well, I made a nice list 🙂
Happy Weekend to you!
Warren Buffet:
These are the type of articles that used to get me excited and often jumping into losing stocks. By the time most articles are printed, the time to buy has long past. Buffet bought into most of those stocks or added to them when others were dumping and he prices were depressed (or he was offered 10% to buy in).
Not to say one shouldn’t look at buy some of those companies, but don’t do it because the article says If Buffet owns it You Should.
These articles are interesting but they don’t make me buy anything either 🙂
Compound Interest!
Interesting article, but I think it really missed the mark. Good points, fancy examples but not much the average person can sink ones teeth into.
Money does not double by just investing or grow at those rates over 30 yrs. In fact I believe that most people miss the point of compounding. They assume the Pile will grow at those rates and grow and grow and grow. It doesn’t work that way. Even relying on market returns will also not generate those returns.
That’s why I’ve always (well in my later years) believed that the Connolly strategy of investing for Income is the best way to achieve compound growth from ones investments.
If one invests for Income and can get that income to grow each year and further reinvest that income, than over the long term your income will compound at a reasonable rate and your capital will follow along at some point.
I thought the article was interesting but that’s about it.
If I want to retire early, I will need to rely on income. This means I’m focusing on income that my portfolio can generate vs. the hope of capital gains.
Thank you for including my article Mark! Hope one day your story as a millionaire stock accumulator gets profiled and shared 😉
It is interesting how several sites have now talked about Mr 1500’s journey from that CNBC article – sounds like it has gotten popular. ( one other one is the Liquid 35 site)
It is also interesting to me how costs of living are different between Canada and US ( based on my anecdotal review of the budgets of a few Canadian Financial Bloggers it looks like some things are more expensive in Canada).
Rule of Thumb: it’s 30% more expensive in Canada than in America.
Absolutely!!
Very interesting. So based on my limited understanding, can Canadian retirees simply do Geographic Arbitrage and just move to Miami, or Texas or Nevada, and just enjoy the nice weather? ( or move to Mexico)
Canadians who aspire to be world travelers need to be careful….
“Significant residential ties to Canada include:
a home in Canada;
a spouse or common-law partner in Canada; and
dependants in Canada;”
Regardless if folks don’t have a home or kids, then this applies anyhow:
“If you did not have significant residential ties with Canada and you stayed in Canada for less than 183 days in the tax year, you may be considered a non-resident of Canada.”
http://www.cra-arc.gc.ca/tx/nnrsdnts/cmmn/rsdncy-eng.html
No real way to get around this stuff…the government wants our money!
Thanks for including my post. Enjoy the weekend.
Enjoy!
Interesting to note that in the eyes of the general public, Buffett seems to have transcended Berkshire, in that there is no BRK, only Buffett. The clickbait ‘Warren Buffett’s Best High Dividend Stocks’ seems to prove this. BRK has two very capable money managers at the helm now, which are not Buffett or Munger, and it’s they who bought APPL stock.
Also interesting that Gates picked up a big chunk of Liberty Global. His Gates Fund is mostly BRK, so Bill basically doubled-down with their acquisition of LILAK.
Ah, yes…the ‘retire early’ mantra has crested again this week. Love how many of these stories i) are fueled by the “I was having this horrific day at work” moments and ii) glaze over the huge part that luck and ‘right place-right time’ contribute to the overall narrative. In addition to other at-odds commentary, e.g. “The good news is, anyone can do the same…”I don’t endorse it [picking individual stocks]”…so…anyone can do it but don’t do it the way we did it!
I practice retirement two days a week. 😉
And don’t forget to tune into the Hip’s FREE concert on Saturday!
http://www.cbcmusic.ca/posts/12529/the-hip-screening-locations
“I practice retirement two days a week.”
You and me both.
Anything “Buffett” or “Gates” or “Cats” for that matter is clickbait 🙂
I don’t think it’s a bad thing to be fueled by something – it’s called motivation. If you don’t like your job – change it. If you want to stop working earlier than most – invest more. If you want to learn a new skill – get a hobby. I don’t see anything wrong with this.
I don’t endorse the investing [picking individual stocks] “anyone can do it” mantra. While theoretically true, it’s not a practical statement. Just like anyone can be good at golf. Just like anyone can be good/fast at a 100m sprint. Sure, you can do it but do it well that’s an entirely different discussion.
Glad you agree with my rudimentary hypothesis 🙂 Enjoy the end of the summer.
Watch for my “Back to School RESP” week next week… Thanks for the inclusion this week.
I will look out for it!
Snake Oil pitches been around forever, difference is these are much easier to get tricked into and as you say full of malware!