Archive for June 2009
Book Review and Giveaway: Happier
Today’s book review is a bit different than the typical book about finance, but just as relevant in my eyes. A New York Times best seller, Happier – Learning the Secrets to Daily Joy and Lasting Fulfillment, is written by Tal Ben-Shahar who happens to be a Harvard Professor on Positive Psychology – and teaches…
Read MoreIndividual Pension Plan (IPP) – An RRSP for the Affluent
For the average income in Canada, the maximum RRSP contribution amount of $21,000 (for 2009) is more than what most employed workers are allowed to contribute. To put this in perspective, in order to qualify for the $21,000 contribution limit, an employee would need an income of around $117,000, well above the average Canadian salary.…
Read MoreWorst Case Scenario – How Long Will Your Savings Last?
An interesting financial exercise is to calculate how long your savings would last if you were to lose your job or other main sources of income. Basically, how much of an emergency fund (cash or line of credit) would you need? In this “worst case scenario”, proper planning needs to be in place to be…
Read MoreRetired at 31: The Interview
After hearing the story about John, who retired at the age of 31, many of you have been anticipating an interview with him to get more details. Here are some questions that I had for the early retiree. What province do you live in? Alberta How old are you? 32 When did you retire? August…
Read MoreSmith Manoeuvre Portfolio June 2009 – The Rally Continues!
For those of you just joining us, this is my portfolio that is leveraged with money borrowed from my home equity line of credit (HELOC). As the money borrowed is used to invest, the interest charged is tax deductible. I write an update every couple months or so to show new positions added along with…
Read MoreBook Review and Giveaway: The Seven Rules of Wall Street
Book publisher McGraw-Hill was kind enough to send me their spring catalog for me to choose which books I would be willing to read and review. Out of the many titles in the “finance” section, the book “The Seven Rules of Wall Street, Crash Tested Investment Strategies that Beat the Market” caught my eye. I…
Read MoreRetired at 31: An Early Retirement Story
I’m proud to introduce “Retired at 31” (we’ll call him John), a regular contributor on Canadian Money Forum. As his handle indicates, he retired at the ripe age of 31 with $1.7 million in net worth. Like most millionaires, John created his wealth through investing in businesses. In his case, the businesses were his own. …
Read MoreBook Winners and Best of May 2009
Winners of 397 Ways to Save Money As promised, I am giving away 2 copies of the book 397 ways to save money written by Kerry Taylor of SquawkFox. Out of the many entries, the winners below were randomly chosen, congrats! Terri Susan Top 6 Articles in May 2009 How Much Do You Need To…
Read More