Friday, August 15, 2014

Short Takes: Financial Happiness Secrets, Advice on Moving Out, and more

Here are my posts for this week:

Why Market Timing Fails

Loan Pushers

Too Big to Fail

Here are some short takes and some weekend reading:

David Chilton (the Wealthy Barber) explains in this video clip the secret to a happy financial life. Saving isn’t just about making a better future; it’s about making life simpler and better right now. His remarks at the end about math knowledge are interesting. I’ve definitely noticed that people with strong math skills tend to earn more money than the general population. Whether they’re better at handling and investing that money is another question.

Gail Vaz-Oxlade has some very good advice for young people preparing to move out of their parents’ homes for the first time.

Canadian Couch Potato shows how to reduce transaction costs and optimize asset location by treating all family investment accounts as a single big portfolio.

Doug Runchey explains how working past age 60 affects CPP benefits in a number of example cases.

Dan Hallett takes a look at a market-linked GIC that seems good on the surface but wilts under Hallett’s scrutiny.

Big Cajun Man uses some examples to explain the TFSA over-contribution rules. Unfortunately, I think the “Savings Account” part of the TFSA name will continue to make people think they can treat it like a regular savings account.

My Own Advisor has added a new personal finance goal for the year. He’s trying to save up $4000 for home improvements. My wife and I have a system for home improvements. We do things that need doing immediately, such as replacing a furnace or appliance that isn’t working, replacing leaking windows, or fixing a leaking roof. For more cosmetic things, we just disagree on the details endlessly and never spend the money.

2 comments:

  1. Thanks for the inclusion, and YES as long as the word Savings is in the system name folks will treat it like their chequing account... Have a great (if not frigid) weekend.

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  2. "...we just disagree on the details endlessly and never spend the money."

    I had a good laugh.

    Thanks for the mention!
    Mark

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