Month: January 2021

Challenging the goal of retiring with no mortgage

Advertisements How many times have you heard advice to pay of your mortgage by the time you retire? That having a paid off house is setting you up for success in retirement? The argument would be that when you retire, your income reduces substantially such that paying a mortgage payment each month could impact your …

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Time as your biggest financial ally

Advertisements I really don’t think I can emphasize enough the value of time to a successful wealth creation process. Money multiplies over long periods of time, and it does so exponentially. In other words, the longer you have to leave your money invested, the faster its pace of growth will accelerate. How? Compounding returns They …

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Creating a budget that works for you

Advertisements Everyone knows that successful businesses always stick to their budgets. In an entrepreneurial setting, where a company has raised money through investors and banks, every dollar needs to be carefully deployed to resources that give the business additional value. Making frivolous decisions with investor money is a recipe for disaster and the CEO is …

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Components of Real Estate Income

Advertisements Rental real estate is an asset class which only finds its way into peoples’ portfolios if they learn about it through their network. Traditional 401k / RRSP plans aren’t suitable for investing in real estate direct. There are of course indirect ways to invest in real estate in traditional investment accounts via Real Estate …

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The cost of a Doordash meal, broken down

Advertisements Everyone knows that one of the biggest uses of millenial money is eating out. Cooking for ourselves just hasn’t been drilled into us as one of the top ways to save money (I suppose they cut home economics out of the curriculum at some point?). The reality is that a very small minority of …

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Writing the first “A Fighting Chance” book

Advertisements The starting point for A Fighting Chance was the idea of “the textbook everyone should have had in high school on personal finance”. We got textbooks in math, science and social studies, so why not one that people might actually keep throughout their life that remains a toolbox of information that can be referred …

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Why I use my credit card for everything!

Advertisements Let’s start with a clear statement on consumer spending. If you can’t pay off your credit card every month with income from your salary after you have already contributed to investments, you are spending too much. Spending too much means you will carry a consumer debt balance on your credit card which will be …

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