Welcome to some Long Weekend Reading friends.
Leading up to the weekend there were a number of things I needed to do on the work front and home front this week, so I didn’t get to read as many financial articles as I would have liked. I did manage to post an update to our 2015 financial goals whereby I acknowledged we will fail in two areas this year. It’s disappointing. I am however starting to look forward to 2016 where it should be a better year. Have you ever bombed some of your financial goals? If so, how did you feel?
Enjoy these articles and see you next week, when I intend to profile a prolific saver who is now living it up in his 50s.
CBC profiled this couple who travel the world but clean toilets and shovel cow $hit to do so.
Frugal Trader shared his biggest investment mistake over at 5i Research. Somehow I don’t think he was alone with this big bet. I’m pretty sure I lost more money that FT with this mistake…
Rob Carrick provided a list of financial terms to drop.
Have a great weekend!
Mark
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.
Interesting read from CBC. I guess if you don’t mind bad jobs, it’s worth travelling the world. Kudos to them. Personally, I’m happy with my house in suburbia!
I think it’s worth it to travel the world as long as you are not scrubbing toilets to do it 🙂
Ditto. I would be happy to have that problem.
Greater Vancouver has been always crazy and I think Toronto is almost getting there as well. I can’t believe one can buy a house priced at 30-40 times of average family’s after tax annual income.
Same. I would be selling houses if I were them now…and simply move and retire somewhere else.
We invested with Jim Yih (now Retire Happy)and initially found his advice sound and reasonable. However, he got us into laddered GIC’s and a bunch of mutual funds. After four years we were not much better off than when we started. Shortly after I found Connolly and dividend growth. From that point we began to eliminate annual fees, reduced trading commissions and found our income growing each year. As mentioned in other posts we are now financially sound with our annual income more than our annual needs.
As for James suggestion on diversification and indexing, is matching or trying to match the Market your goal, with a small annual fee? Mine is Income Growth, regardless of what the market does or how my portfolio compares to the market.
I have lots of respect for Jim Yih. I’ve met him, a good guy, he strikes me as very practical.
As for my goal, I index because I feel that’s the best way to earn market returns and get great diversification at a very low cost.
I invest in 30+ dividend stocks because I’m looking for income, regardless of what the market does. I have a bias to holding many stocks of the same, top stocks in XIU and stocks within the top-25 holdings of VTI for my U.S. stocks.
When it comes to the CDN stocks I hope to earn about $30k per year in dividends from them and then call it a career from work. We’re just over 1/3 of the way there.
re: Rob Carrick’s list — “Past results are no indication of future returns” — I would pay for this Get Out Of Jail card to be obliterated (NO other business utilizes a like phrase), however, it’s a legal requirement so it’s not going away any time soon.
Ha, yeah, nobody wants to get sued SST 🙂
Looking forward to the long weekend. Have a good one. Thanks for the mention.
Same. Thanks for your email. I will write back soon.
Enjoy,
Mark
Yeh, I am kind of tired of being treated like Cow $hit by my banks. Have a great weekend and thanks for including me this week.
LOL. Enjoy man. BTW – I should send an email for a few of us to hook up soon. I’ll do that this weekend.