Weekend Reading – When to take #CPP, dividend growers, and the power of why
Welcome to my latest Weekend Reading edition. I hope you had a good week.
In cased you missed it, I was busy on this site with these articles:
Given the income we need, the viability of my defined benefit pension plan (so far, so good), the fixed income it should deliver at age 55, and the other assets we have, I have concluded we might be in a position to draw down our RRSP assets in our 50s before taking any pension income – but that’s many years away. What say you?
Should most 30-somethings have a net worth of $150,000? What about most 50-somethings having half a million saved? I think you should throw most retirement savings factors out the window.
Lastly this past week, thanks to CPP and OAS expert Doug Runchey, we provided some insights into when to take your Canada Pension Plan (CPP) benefit.
Enjoy these reads and see you here next week!
Dividend Growth Investor outlined seven dividend paying companies in the U.S. While he outlined some dividend growers, I’m not confident in my U.S. stock picking abilities. Outside of a few U.S. stocks like JNJ, PG, KO, DUK and a few others, I invest in the U.S. predominantly through a low-cost U.S.-listed ETF like VYM that provides both income and growth.
Here are five unpopular personal finance truths courtesy of Ryan Modesto, CEO of 5i Research. I liked what Ryan said here: “Yes, at all times you should keep fees and costs as low as possible and pay down as much debt as you reasonably can. But it’s much easier to pass judgment on someone who struggles to buy a house, put food on the table or presents under a Christmas tree when far removed from that individual’s situation. While the numbers can offer a guideline, the answers to personal finance questions are rarely black and white.” Personal finance will always be very personal.
CBC Marketplace shared how not to buy a car. I find the entire long-term financing deals/scams offered by car dealerships now very predatory. As recently as this summer, we chose not to play that game – we paid cash for our newest used car. Sure, it was a lot of money to us but we intend to keep this 2014 car for another 10+ years. Besides, we weren’t going to fall into this financing trap. As one car salesman actually said to my wife: “Why buy used – why not keep more of your money and buy a new car? The financing is so cheap now!” Pathetic. She laughed and walked away.
Method to Your Money had an interesting post about the power of why when it comes to our finances. From the article: “When it comes to our behaviour, once we put on our analytical glasses to view the world, we react to emotional appeals differently; reason hinders our ability to feel and to act.” No doubt math should trump emotions when it comes to money management but it’s rarely that easy in life. I believe there is a happy balance that can be had.
Andrew Hallam tells us why international stocks are leaving U.S. assets in the dust – this year. Thoughts on 2018 Andrew? I’d say our Canadian market could soar.
Michael James on Money wrote about the dividend puzzle.
From the ModernAdvisor blog – here’s what to do with your RESP if your child doesn’t pursue post-secondary education.
Sure Dividend wrote about dividend stud Procter & Gamble.
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