Weekend Reading – Tolerance for BS, financial independence in your 40s, the keys to longevity and more #moneystuff

Weekend Reading – Tolerance for BS, financial independence in your 40s,the keys to longevity 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.

I got around to posting a few articles this week:

Here’s what your annual savings targets should be by certain ages.

Want some year end tips on saving more money on your taxes and across your investment portfolio?  Check out this post here!

You can absolutely invest in green energy projects AND earn income too.  Learn more about CoPower Green Bonds and see if that investing choice might be right for you. 

Enjoy your weekend plans including this reading material.   I also wish you good luck on any final holiday shopping activities – the Christmas break is really only two weeks away!


The restaurant and food industry is booming of late – why?   Largely because many millennials don’t want to cook nor do they know how to cook.

Here’s the recipe for how to gain financial independence in your 40s:

  • Get a good paying job
  • Sustain the good paying job
  • Save at least half your income from said good paying job
  • Keep saving and investing until your retirement nest egg is 25 times your annual expenses (which might take 10-15 years at that 50% savings rate)
  • Make sure you invest in low-cost, passive,index funds
  • Quit the aforementioned good paying job
  • Withdraw only 4% of your portfolio, per year, forever.

If only it was that easy…???

Here are the keys to longevity (according to a Japanese doctor that studied longevity)– don’t retire before age 65.  Why?  Because after this age, most retirees fail to have goals and drive – that will keep you both young and alive. Other tips for a long life:

  • Don’t worry (too much) about eating well or getting enough sleep, ensure you have some fun
  • Don’t be overweight
  • Don’t blindly follow any physician’s advice – think for yourself.

Financial Samurai wrote about the tolerance you have, or no longer have, when you have fulfilled your money goals.  “When the financial incentives go away, you’re left focusing on what truly matters: family, friends, purpose.”

Andrew Hallam wrote about how your wealth might stack up: 

Here are some bear market truths according to Steadyhand.  Agreed – everyone thinks they are an economist.

Ah yes…I’m behind schedule….I will absolutely get to an update on this post – about some record dividend income – so stay tuned! 

Save your money!

Use this page on my site to own the best low-cost ETFs.   Less money management fees – more cash for you.  It’s that simple.

Check out my Deals page here to save more, invest better, and keep more of your money!

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.

29 Responses to "Weekend Reading – Tolerance for BS, financial independence in your 40s, the keys to longevity and more #moneystuff"

  1. I have no pearls of wisdom. If one is looking for the “easy way” there are numerous “plans” out there but I doubt many of them can be applied to an average person’s reality. In Canada we are fortunate to have the TFSA, RESP and RRSP. Use these tools and for the most part, average people will be fine. Probably not “retire by 40” but that isn’t realistic for most in the first place.

    1. Retire by 40 was not something I could do at all unless my wife and I wanted to live in a 1-bedroom apartment in Ottawa and be very frugal, do not own a car, etc.

      I far prefer the path we are on – which is why we are on it as you and other dedicated fans know Lloyd.

      I personally don’t get the point of making major financial sacrifices for 20 years (say ages 25-45) only to live like a hermit for the next few years – call yourself “retired”. Far better off to live, save, invest, have some fun and realize your goals (albeit a longer timeline) along the way but that’s just me. Everyone is different.

      1. I’m with you Mark. As for the folks that espouse the retire by 40, I think most of those are hawking something. Off the top of my head I can’t think of a single proponent of that path not having a book, blog or other money making endeavour. They count on the publicity of their “achievement” to sell whatever it is they’ve done. The age old adage that “if it sounds too good to be true” comes to mind.

        Maybe I’m just grumpy this morning.

        1. Nah, I have a similar take as I get older – maybe I need another coffee to perk me up and make me more cheery.

          I really don’t like the “I’m retired” rhetoric when you pump a book, a blog, etc. for a living. I mean, sure, call yourself financially free, working on your own terms, etc. but don’t call yourself retired when you’re still working and making an income. It just doesn’t make sense in most contexts.

          Retired = having left one’s job and ceased to work.

          I would only be so happy as to report on this site in a few years if we a) realized our financial goals b) the site helped a bit along the way and c) I’m working still but on my own terms. Nothing wrong with that I believe 🙂

          1. My take is aligned with what both of you are saying. The formal definition of” retired” has been much abused and exploited by some in the blog world.

            I like a more balanced approach. I think your ABC goals will suit you well Mark.

            1. Sorry, I’m a lame conservative dividend investor that is getting more old and crusty with the younger generation by the age 🙂 I thought that is what I’m supposed to turn into???

              All the best, time for a glass of red wine with dinner.

    1. Yeah, the numbers seem odd but that’s what the table says 🙂 I think any individual, making $150K per year (assuming that is net for a moment) isn’t saving 50% of that – that is nuts.

      At min. an individual saving $20K per year, tax-deferred (RRSP) for 30 years @ 6% will have > $1.6 M.

      1. Yep. Income taxes alone make that virtually impossible. However, I’m in a different headspace (withdrawal phase) so all these charts are pretty much lost on me.

        Drop us a line to catch up if you get a chance.

  2. The 30 year old numbers seem high and the latter years seem low…for example, how would someone making $150k at 30 already have 450k, but then take the next 35 years to save another 525k.

    1. I find the numbers a bit funky too James. I mean, think about someone in that table making $150K (net for a moment) and only having less than < $1 M after 30 years? Doesn't really make sense - but an interesting table anyhow.

      1. Also, it grows linearly? 15k per year? Maybe I don’t understand compounding (I do)…but the largest growth years happen towards the end…not up front. I think the table is trying to show a particular scenario or is dead wrong.

          1. We have a multi-prong approach and are about 33/35. We are in Toronto so a large portion is our house – although, we did a rather large reno about two years ago. We have about 2/3’s of our networth as equity in the house (assuming cost of house + reno cost only…no appreciation).

            We also pay ourselves first; namely using 4 methods.

            My side: Canadian portion – Dividends portfolio, US/Int’l – Accelerated Dual Momentum and Leveraged Barbell with a market signal attached. The US/Int’l is all US denominated. Excess corporate funds are sitting in VGRO.

            On my wife’s side, she was using a eSeries for a CCP approach, but this is about to be moved over to Questrade to buy ETF’s. It is now at a size where it makes sense. Everything is also in registered and we have tons of contribution room there for the future.

            I know there are many approaches here, but each account has it’s own purpose/method and overall, I think it will do well. It also sounds a lot more complicated than it is. Also, let’s just say, that about half of the investible assets are in TBills right now due to the market signal.

            1. Well done James. You seem to have lots of knowledge and have a game plan in place for your investments outside your primary residence. Well done.

              I personally want to increase by U.S. assets over time. I’ve been working on that in the last 3-5 years. I was almost 100% CDN dividend paying stocks before then.


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