Archive for February 2007
February 2007 Net Worth Update (+3.35%)
How time flies, it’s time again for a monthly net worth update – The February 2007 edition. No big changes this month, only that we finally got off our butts and used some of our savings to pay off the car loan of ours. Yes, I know, we should have paid that off a LONG…
Read MoreOptimizing RESP contributions
I was doing some reading on Tim Cestnick’s site today and came by a great article on optimizing RESP contributions that I thought I’d share with you. For those of you who don’t know who Tim Cestnick is, he is a one of the most renowned Canadian tax authorities in Canada. He’s written a few…
Read MoreHow Parents Financially Influence their Children
Mr. Canadian Dream, the blogger @ Canadian Dream: Free at 45, wrote last week about how his parents influenced his financial perspective and habits. How much do you think parents influence their children regarding financial issues? In my opinion, I think that parents have a GREAT influence on their children’s financial outlook and habits. Lets…
Read MoreReader Mail: Optimize Pastor Brads Finances!
Over the months, I have noticed that there are some very smart readers on this blog. The comments that are posted on my articles are proof that my readers really know their stuff. Last week, I received an email from Pastor Brad who currently resides in Calgary. He wrote me about his financial situation and…
Read MoreCIBC Offers Low Trading Commissions!
What do ya know, a big bank has finally gotten competitive with their trading fees. CIBC now offers the Edge Advantage trading package that gives you 50 trades for $395/year. This works out to be around $7.90/trade with no limit to the number of shares you can buy. After the 50 trades are up, it…
Read MoreReader Comment: Newborn Baby Expenses!
Last week, I posted my early retirement series and within the first article I stated: I also PLAN to have kids, but don’t have any currently so I really don’t know how much they’re going to cost.. George, a regular reader and comment contributer, made a detailed explanation on how much a newborn can potentially…
Read MoreRetiring Early – Part 3 (Conclusions)
Continuing from Retiring Early – Part 1(Expenses), and Part 2 (Income), we will trek on with Part 3 – my conclusions regarding retiring early. This article will focus primarily on the savings required to meet our retirement goals at certain pre-defined ages that make sense for us. Here are some tables summarizing our income, expenses,…
Read MoreRetiring Early – Part 2 (The Income)
To continue from Part 1 of the Retiring Early series, we need to determine how our income and savings will pay for our expenses, and how early we can actually retire. We will assume that we die broke. To summarize our expenses that we calculated yesterday, we determined that we'll need: $44,616/year (in todays dollars)…
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