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Helping Canadians with Personal Finance Since 2006

Archive for May 2007

May 2007 Net Worth Update (+3.04% )

It’s time again for my monthly net worth update – The May 2007 edition. This month has shown another modest increase mostly due to savings, a small tax return, and organic gains in my RRSP account. I had a question from a reader about my last net worth statement. The reader asked how I calculated…

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Myths about Leveraging into Equities – Part 2

Ed Rempel, a CFP and CMA, has been a regular guest poster on Million Dollar Journey. This article is continues from part 1 of the series “Myths about Leveraging into Equities“. 4. Leverage always increases risks What are the risks of borrowing to invest? Let’s assume the total risk is a combination of the 3…

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Myths about Leveraging into Equities – Part 1

Ed Rempel, a CFP and CMA, has been a regular guest poster on Million Dollar Journey. He has graciously written another great article for you to enjoy while I’m away on business. This Part 1 of 2. For this post, I am borrowing heavily from Talbot Stevens, whose writing about leverage was inspirational to me…

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Spending and Investing Regrets

Canadian Dream suggested that I write about my spending regrets. To be completely honest, I’m extremely picky and analytical before making any big consumer purchase, so I rarely regret what I purchase. However, I do have a big investment regret that I hesitate to mention, but I will for your entertainment. :) The Setting It…

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Weekend Reading – May 25, 2007

Some thought provoking articles from around the web this week: Globeinvestor has an article about the possibility of a single currency in North America. Kinda like the Euro. What are your thoughts on this? Canadian Capitalist hosts the third Canadian Tour of Personal Finance Blogs! There was a great turnout with 15 entries. As you…

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Should I Incorporate my Small Business?

Here is another entry from Ed Rempel regarding if you should incorporate your small business. I was asked this question from Qubikal, but I asked Ed to answer as he has experience in this field. This topic was requested by a reader and is a question I am often asked. The issues are all tax…

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Reader Question: Finances for a Married Couple

It’s time again to dip into the mail bag and answer some long awaited reader questions. If you have a personal finance question, feel free to contact me and I’ll do the best that I can to find an answer. This weeks question comes from “P”, who is newly married and is wondering how to…

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Dealing with Losing Your Job!

I was reading a post on Get Rich Slowly the other day about a reader who lost his job and was looking for advice. Since I have experienced unemployment for a few months in 2006, here are some tips to minimize the hit on the loss of income. 1. Apply for Employment Insurance immediately This…

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