Comments on: More Financial Blogs

By: Canadian Personal Finance Blog » Blog Archive » Stream of Consciousness Friday

Thu, 24 Jul 2008 14:34:10 +0000

[...] Canadian Capitalist continues to scower the Blogosphere to find new and exciting financial blogs, and he has another list of new sites to have a look [...]

By: nancy

nancy — Tue, 20 Mar 2007 03:56:10 +0000

There’s Kat & Jack’s financial diaries blog which I host on my website: http://www.yourmoneybydesign.com (right panel, blog, Kat & Jack…). Not about getting to a particular mark, but just about fighting the good fight in general with money management issues (not investing. stuff like how to balance car breakdowns with kids soccer fees).

By: Kimber

Kimber — Tue, 27 Feb 2007 17:50:42 +0000

I think a million dollars in net worth (including the home) is a good first goal. Once that is reached, then new goals will pop up. At least that’s what happened to me.

By: Canadian Money Blogs Reviewer

Canadian Money Blogs Reviewer — Sun, 25 Feb 2007 16:48:05 +0000

I think seeing all these new PF blogs is very encouraging. It leads me to hope that the general public knowledge and awareness about personal finance is increasing. I know that since I’ve started blogging myself around 5 months ago, I’ve learned tons of stuff and hopefully shared some of it with the “public” along the way. I know that I’m making a difference in my personal entourage since I advise a lot of friends/colleagues/family members. I would assume the same is true for all you PF bloggers out there.

Welcome to the PF blogosphere!

By: Phil S

Phil S — Sun, 25 Feb 2007 15:10:09 +0000

It took me a while in my saving and investing life before I came to the realization that having a non-RSP, unincorporated fully taxable investment portfolio is very bad from a taxation standpoint. The ideal scenario is to have zero cash in your own hands and have all of your cash working for you in non-taxable ways. But the reason why I’m not in that “ideal” scenario is because I also feel that I must maintain a highly liquid “rainy day” fund in case I find myself unemployed or having some kind of mini financial disaster on my hands. Hence I maintain about $150K in a cash investment portfolio.

By: Phil S

Phil S — Sun, 25 Feb 2007 15:02:24 +0000

Well, the reason why my investments are so convoluted and illiquid is because of our high taxation environment that we all live in. It is easier to save money in owning a home, buying RSPs and through the incorporation of my non-RSP portfolio (so investment income doesn’t add to my personal taxable income). In contrast, if you had that exact same net worth stuck in a non-RSP personal holding of government bonds, you would end up paying so much tax that you can’t possibly get any further ahead in life.
As a result, my net worth calculation sort of has to include my real estate, RSPs and private corporate shares, because I don’t maintain very much cash in my own hands. If I do, then I get taxed to death on it. High taxation is the root of all evil.

By: Steve Heath

Steve Heath — Sun, 25 Feb 2007 03:55:07 +0000

My target figure is based on knowing how much money I want to have as income for the rest of my life, and figuring out where I need to be to earn that much money off risk free investments. I’ve also factored inflation into it, so my goal is 1.5 million of money not counting real estate, which will give me an income of $60,000 / year @ 4%. I’m not too worried if it’s inside or outside the RRSP, that’s just my retirement target… which I should hit by 65 at the latest assuming an average 6% return until then (and I’ll be doing equities until I retire).

That will not only allow me to live the lifestyle I want, but will allow me to leave family with a fully paid off house and enough money that they never have to work, although I hope they do for a few years at least

By: Canadian Capitalist

Canadian Capitalist — Sun, 25 Feb 2007 03:11:33 +0000

Thanks for letting me know about your blogs. I’ll mention them in the next batch.

By: Jon D.

Jon D. — Sun, 25 Feb 2007 03:00:20 +0000

If you’re goal is Money or a Million Bucks, I always like to share this word of wisdom:

Having money cannot guarantee happiness, but not having it can certainly make you unhappy.

By: re: Money

re: Money — Sat, 24 Feb 2007 19:32:36 +0000

Phil S,
were you reading my thoughts or my blog? I just posted about it last night!

I personally haven’t decided if I want to include real estate into our Net Worth. It’s definitely worth something, but attaching specific numbers to it is pure speculation to me. Maybe I’ll just include the principal amount we paid down.