This is Thanksgiving weekend in Canada so I am somewhat pre-occupied with activities which have relegated work on my blog to the back burner. As a result, I only have one article for your reading pleasure which was recently posted on the Sure Dividend blog.
This post is a Q&A where I touch upon how we achieved financial freedom well before the typical retirement age bracket (mid 60s). It certainly helps when you make absolutely no investing related mistakes during your entire life. As you may suspect, there is a HUGE element of sarcasm when I say this. I am here to offer you hope! 🙂
I wish all fellow Canadian residents a wonderful Thanksgiving weekend and much success on your journey to financial freedom!
Thanks for reading.
My Amazon picks.
I thought I would take a moment to bring to your attention the recent launch of The Investor’s Toolbox: How To Analyze Financial Statements. This is a wonderful online course by Sure Dividend. This course is not tailored for individuals who are pursuing their Chartered Financial Analyst (CFA) designation or who are enrolled in a Master of Business Administration (MBA) program. Rather, it has been created for individuals who wish to take control of their own investment decisions but who may require some education on how to properly read/analyze financial statements. Continue reading “Sure Dividend Blog – The Investor’s Toolbox: How To Analyze Financial Statements”
In December 2016 I wrote a post about How to Obtain Information on the Financial Transparency and Operating Efficiency of Canadian and US Charities. In this post I touch upon “donations in kind” and in particular the donation of shares in companies listed on a major stock exchange.
The definition of a “Share” can be found on the Canada Revenue Agency’s website.
Continue reading “Charitable Donations – How to Make Donations in Kind”
So you did all the right things. You lived within your means and you diligently saved and invested over the years. Now you have accumulated a nice nest egg in taxable and tax deferred accounts. Wonderful! Did you, however, stop to think about the tax implications when you start to withdraw money from your tax deferred accounts?
I have thought extensively about this very matter. While I am grateful that I was able to benefit from tax advantaged accounts over the course of my career, I would like to continue to take advantage of tax minimization strategies when I start withdrawing funds from tax deferred accounts. This brings me to the subject of today’s post.
I have investigated the strategy in which you would marry withdrawals from tax deferred accounts with the use of leverage. In my opinion there are too many pitfalls/risks that could potentially derail any benefits, and therefore, I would avoid this strategy. Continue reading “Avoid Leverage in a Retirement Account Meltdown Strategy”
Typically, my posts will consist of a company analysis, whether I view the company as a worthwhile investment, and what I deem to be a reasonable valuation. The purpose of today’s post, however, is entirely different. What I hope to impart in this post is:
- the importance of being debt free
- the reason dividend income should be a very important component of any financial planning strategy
- that Powers of Attorney over Health and Wealth can sometimes not be worth the paper they are written on
- the need to craft Wills that take into consideration future potential mental health issues
- the ongoing administration of assets
In essence, every proper financial plan should have a contingency plan in the event one or more family member were to experience major mental health issues.
Continue reading “Financial Plans Should Account for Potential Major Mental Health Issues”
I am constantly amazed at how so many people look for the quick and easy way to get rich without truly understanding both the RETURN and the RISK aspects of an investment opportunity. It doesn’t take long to perform a quick internet search to come up with examples of investors who overlooked the inherent risks of the investments they made because they focused on the “supposed” returns. Continue reading “Know The Investment Risks You Are Assuming”
Have you ever heard the term “Money is the root of all evil”? Ever notice the people with no money, little ambition, or little desire to become financially free are those who use this term? In my opinion the term “The love of money is the root of all evil” is more appropriate.
There is nothing wrong with making and having money as one of your key priorities in your life on the condition your relationship with family/friends does not suffer at the expense of creating wealth and your morals/ethics are not messed up. Think of it, if you are a genuinely good person don’t you think you can help a whole lot more people if you have money as opposed to being in a position where you are struggling to makes ends meet?
In this regard, I am providing the following list of wealth building habits that have worked for my wife and me. Continue reading “Millionaire Wealth Building Habits”