It’s time again for my monthly net worth update – The August 2007 edition. This summer isn’t going as smoothly as planned.  First I’ve had a ton of unexpected expenses followed by a market correction which started in late July.  The market correction has affected my August 2007 net worth statement a little more than…

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A couple of weeks ago I wrote an article questioning the effectiveness of multiple streams of income. Here is a snippet from the article: … rentals, businesses, investments, stock trading and my regular 9-5 job as sources. My question is, should I be focused on smaller multiple streams of income? Or focus on larger, single…

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I received an email from Curtis last week regarding how to deal with all his debt. This was the email: I have a question in regards to student loan debt. Myself and my wife both have student loan debt over $40,000 combined. We both have good paying jobs with a total income of about $80,000-$85,000.…

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In an article about the lack of estate taxes in Canada that I wrote a couple weeks ago, The Financial Blogger mentioned that there are probate fees instead.  This got me thinking as I haven’t done a lot of reading on probate fees, so I did some digging to get some info for interested readers.…

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You’re probably assuming that I know the answer to the post title, but unfortunately I don’t have an exact answer.  Like most personal finance issues, it really depends on your current situation. I believe that life insurance is a means of protection, not a means of making someone rich.  To clarify, term life (not universal…

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Unfortunately, anyone who owns equities right now is affected by the current market turmoil.  I am no exception and I expect that my net worth statement this month will take a big hit.  Why is the market tanking? To put it simply, it’s because of uncertainty.  With sub prime mortgage defaults on the rise, those…

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