Archive for June 2016
Our Anti-Mustachian Family Spending Report
Extreme frugality blogger Mr. Money Mustache and his family famously live on less than $25,000 a year. Of course, it helps to have a paid-off home and live in a relatively affordable town in northern Colorado. Getting around by bicycle or on foot also saves money on gas and keeps the family car-payment free. It’s…
Read MoreWeekend Reading: Smart RESP Edition
A while back I wrote about how target date funds could be a smart solution for your RESP. Turns out a new robo-advisor called Justwealth had the same idea and is now offering custom Education Target Date Portfolios: “a unique investment solution that transforms itself automatically over time, eventually “maturing” in the exact year that your…
Read MoreRRIF Or Annuity? Which One Is Right For You?
We all know that in the year you turn 71 you will have until December 31 to convert your RRSP into a RRIF or an annuity. Which do you choose? First, let’s recap the basics. RRIF option The year after you set up your RRIF you will have to start withdrawing a mandatory minimum amount.…
Read MoreDon’t Forget To Manage Medium-Term Goals
“My daughter is getting married – the stock market is down and I need to sell some stocks to pay for the wedding.” Hold on a minute here! You had to have some idea that this was an expense looming in the not-too-distant future. Similarly, when the stock market is on an upward tear, you…
Read MoreAn Automated Solution For Generating Retirement Income
We’re often our own worst enemies when it comes to investing, which is why taking away the human element and automating decisions such as timing of purchases and regularly rebalancing will likely lead to better outcomes for investors. That makes the robo-advisor argument so compelling because it reduces the need for human intervention and sticks to your investment…
Read MoreWeekend Reading: Two Income Trap Edition
The number of dual income families with at least one child has almost doubled since 1976, according to new research released this week by Stats Canada, rising from 36 percent to 69 percent. Meanwhile, the number of single income families dropped from 59 percent to 27 percent. More families are dual-income today for two reasons;…
Read MoreThe Costco Effect On Earning Credit Card Rewards
My wife and I do a lot of our grocery shopping at Costco and a few years ago signed up to become Executive Members, which means we get 2% cash back on nearly every purchase made at Costco. Last year the warehouse giant sent us a reward coupon in the mail for $176.61 and if you…
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