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Helping Canadians with Personal Finance Since 2006

Archive for October 2011

Net Worth Update Oct 2011 (+2.66%) – Market Bottom?

Welcome to the Million Dollar Journey October 2011 Net Worth Update – Market Bottom Edition. For those of you new to Million Dollar Journey, a monthly net worth update is typically posted near the end of the month (or beginning of the next) to track the progress of my journey to one million in net…

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Pension Basics: Selecting a Form of Pension Payout

Defined benefit (DB) pension plans have a reputation for their complex formulas for determining monthly pension benefits. Unfortunately, when you retire it doesn’t get any simpler. Depending on your employer and your province of employment, employees may be presented with a number of forms of pension to choose from upon retirement. The various forms of…

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How Leveraged ETFs Work

Several posts on this blog have dealt with ETFs including their suitability and terminology. ETFs offer the diversification of mutual funds, trade on an exchange similar to stocks, and have lower MERs when compared to mutual funds. However, investment vehicles are updated and upgraded like software packages and there are new products released frequently; one…

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How to Save Money at Costco

We’ve been Costco members for a while and really enjoy the store for essentials and unfortunately, non-essentials.  I’ve written about the great Costco debate which included the pros and cons of the store.  Some of the high points are the competitive prices, quality, samples and the best in the biz return policy.  Like anything, there…

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Financial Planner Job Posting and Weekend Links

Financial Planner Wanted Ed Rempel, one of the occasional contributors to this site, is in the process of expanding his team of Certified Financial Planners. To get the word out, Ed has posted the position in the newspaper, and is reaching out to the MDJ readership. If you are a Certified Financial Planner (CFP) who…

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Surviving a Divorce Financially

I think almost everyone who gets married hopes to stay with their spouse for the rest of their life. However, for a significant number of people, reality does not follow that script. A study indicates that 4 in 10 first marriages end in divorce in Canada. The Institute of Marriage and Family Canada provides more…

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ING Streetwise Mutual Funds Review

As most of you may know, mutual funds can be very expensive, especially in Canada.  What do I mean by expensive?  As a typical mutual fund sold by a bank involves a fund manager,  s/he needs to be paid along with other associated costs.  This results in a Management Expense Ratio (MER) that takes a…

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Dividend Stocks, Tips for New Grads, Currency Hedging and More

small portfolio of dividend stocks @ Canadian Money Forum Wealth Building Tips for New College/University Graduates @ The Archives Currency Unhedged Portfolios Are Less Volatile @ Canadian Capitalist A Practical Way To Estimate And Budget For Home Maintenance Costs @ Money Smarts Blog Action Still Required to Avoid BMO RRSP Currency Conversion Costs @ Michael…

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