I was browsing through the archives yesterday and came by a gem of an interview with a 36 year old millionaire. Not only did QCash accumulate $1.5M by age 36, he retired at the age of 35!

Norbert’s Gambit is a way to save on currency exchange costs at discount brokers. The process varies by the institution; Michael James on Money wrote about how to do a Currency Exchange with Norbert’s Gambit at BMO InvestorLine.

Most, if not all, financial institutions provide a questionnaire for a potential investor to fill out; this helps them (and the investor) gauge the risk tolerance. Boomer & Echo touched upon this subject through the post Are You a Risk-Taker?.

Withdrawing from an RRSP should be a last resort for any individual. However, when life’s curve balls necessitate such an action, it will be useful to remember The Blunt Bean Counter‘s post on RRSP Withdrawals – Two Tax Traps.

Although it is great to get started on an RRSP and TFSA at a young age, it becomes important to decide on the goal for the money. This may include retirement (e.g. RRSP), buying a house (e.g. TFSA), etc. Canadian Dream discussed about focusing on the details (e.g. spending in retirement, size of house, etc.) to create and achieve a realistic goal: What’s It For?.

It is likely that a few of us view housekeepers as a luxury reserved for the elite population. Young and Thrifty quashes such a notion with personal examples and wondered about Lifestyle Inflation Threat: Housekeeper or No Housekeeper?.

Sometimes, a debt spiral can end in bankruptcy. However, as with other things in life, many situations can be salvaged. The Canadian Finance Blog showed How to Avoid Bankruptcy with a Consumer Proposal.

There are many alternative currencies floating around these days. Cryptocurrencies such as Bitcoin have probably gained in popularity in a short time. Nevertheless, Sustainable Personal Finance went to the tried and tested alternative and asked readers: Should you pick gold as your alternative currency?.

There is likely to be more than a handful of discontented parents who would like to see a change in the school system. Mr. Money Mustache expressed his views on the topic by discussing about homeschooling: If I Ran the School, Things Would be Different.

With tax season around the corner, My Own Advisor arrived in time with Tax tips every Canadian should know about.

Saving and investing prudently is a path to success, at least financially. Nonetheless, there are other forms of investment such as these Three Lifestyle Investments for success as listed by the Retire Happy blog that are worth keeping in mind.

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  1. Michael James on March 13, 2015 at 11:20 am

    My currency exchange process at BMO IL has certainly evolved over time. Thanks for the mention.

  2. SST on March 13, 2015 at 12:03 pm

    Quick comments:

    re: Risk-taking — a comment in the article states, “I’m pretty sure many of those who were surveyed don’t even understand what risk means when it comes to investments.” I would say this to be true, and very applicable to the majority of those who work in the investment/financial sector. *Risk is NOT volatility*. Risk is the potential of permanent loss of capital and/or not reaching your financial goals. Example, after the 2008 Crisis, lots of people sold stocks and bought GICs. They suffered not only permanent loss of capital but will most likely fall short of attaining their financial goals — by utilizing low-“risk”/low-volatility investments.

    re: Alternative Currency — gold will never be a currency again, except in those times and places of extreme disruption, and those never last for very long. More concerning is how the dollar in your wallet…okay, the Loonie in your pocket, is quickly becoming the alternative currency to the credit companies Visa and MasterCard.

    (sidenote: gold is no longer finite, as per the original article. It can now be “printed” a la cash and credit via nuclear/particle reaction. It just costs far more to create it than its market value.)

    re: Lifestyle Investments — bang-on.

  3. My Own Advisor on March 13, 2015 at 1:12 pm

    Thanks for the mention FT! I hope to have my tax return back in mere weeks.

    All the best,

  4. young on March 14, 2015 at 4:52 pm

    Thanks for the mention :) I have still not yet hired one haha :)

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