Comments on: Smoke and Mirrors Myths, Part 1 http://www.canadiancapitalist.com/smoke-and-mirrors-myths-part-1/ Helping you invest and prosper Sun, 12 Feb 2012 00:54:40 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Book Review: 10 Things I Wish Someone Had Told Me About Retirement | MoneySense http://www.canadiancapitalist.com/smoke-and-mirrors-myths-part-1/#comment-278856 Book Review: 10 Things I Wish Someone Had Told Me About Retirement | MoneySense Thu, 07 Oct 2010 13:36:00 +0000 http://www.canadiancapitalist.com/2007/03/08/smoke-and-mirrors-myths-part-1#comment-278856 [...] Smoke and Mirrors Myths, Part 1 [...] [...] Smoke and Mirrors Myths, Part 1 [...]

]]> By: This and That: TFSA Returns and more… | MoneySense http://www.canadiancapitalist.com/smoke-and-mirrors-myths-part-1/#comment-228462 This and That: TFSA Returns and more… | MoneySense Fri, 25 Jun 2010 12:13:59 +0000 http://www.canadiancapitalist.com/2007/03/08/smoke-and-mirrors-myths-part-1#comment-228462 [...] Smoke and Mirrors Myths, Part 1 [...] [...] Smoke and Mirrors Myths, Part 1 [...]

]]> By: Book Review: Enough Bull | Canadian Capitalist http://www.canadiancapitalist.com/smoke-and-mirrors-myths-part-1/#comment-199763 Book Review: Enough Bull | Canadian Capitalist Tue, 08 Sep 2009 03:02:48 +0000 http://www.canadiancapitalist.com/2007/03/08/smoke-and-mirrors-myths-part-1#comment-199763 [...] investment advisor is David Trahair’s follow-up to Smoke and Mirrors (see series of posts on Smoke and Mirrors Myths). As you probably surmised from the title, the author recommends readers to get off the stock [...] [...] investment advisor is David Trahair’s follow-up to Smoke and Mirrors (see series of posts on Smoke and Mirrors Myths). As you probably surmised from the title, the author recommends readers to get off the stock [...]

]]> By: Canadian Capitalist » Smoke and Mirrors Myths, Part 3 http://www.canadiancapitalist.com/smoke-and-mirrors-myths-part-1/#comment-23784 Canadian Capitalist » Smoke and Mirrors Myths, Part 3 Tue, 13 Mar 2007 02:55:22 +0000 http://www.canadiancapitalist.com/2007/03/08/smoke-and-mirrors-myths-part-1#comment-23784 [...] In the series of posts (Part 1, Part2) examining the financial myths mentioned in David Trahair’s book Smoke and Mirrors, let’s take a look at the third myth: [...] [...] In the series of posts (Part 1, Part2) examining the financial myths mentioned in David Trahair’s book Smoke and Mirrors, let’s take a look at the third myth: [...]

]]> By: Canadian Capitalist » Smoke and Mirrors Myths, Part 2 http://www.canadiancapitalist.com/smoke-and-mirrors-myths-part-1/#comment-23721 Canadian Capitalist » Smoke and Mirrors Myths, Part 2 Mon, 12 Mar 2007 10:50:29 +0000 http://www.canadiancapitalist.com/2007/03/08/smoke-and-mirrors-myths-part-1#comment-23721 [...] Continuing the series of posts (Part 1) examining the financial myths mentioned in David Trahair’s book Smoke and Mirrors, let’s take a look at the second myth: [...] [...] Continuing the series of posts (Part 1) examining the financial myths mentioned in David Trahair’s book Smoke and Mirrors, let’s take a look at the second myth: [...]

]]> By: Debunking David Trahair’s Smoke & Mirrors: Myth #1 at Investing Intelligently http://www.canadiancapitalist.com/smoke-and-mirrors-myths-part-1/#comment-23537 Debunking David Trahair’s Smoke & Mirrors: Myth #1 at Investing Intelligently Sat, 10 Mar 2007 20:15:46 +0000 http://www.canadiancapitalist.com/2007/03/08/smoke-and-mirrors-myths-part-1#comment-23537 [...] Canadian Capitalist recently had an article discussing the “smoke & mirrors” guy’s “Myth 1: If I had a $1,000,000… I Could Retire”. I hate guys like Mr. Trahair who rant about the financial services industry and their “vested self-interest in telling people they need more” and flame about how the banks try to scare people into putting more money away for retirement. All the while ignoring the fact that the individual also has a vested self-interest in saving for retirement. It’s the stupidest reason to not invest as much as possible that I have ever heard. It’s like taking a lower salary so you can receive the GST credit. [...] [...] Canadian Capitalist recently had an article discussing the “smoke & mirrors” guy’s “Myth 1: If I had a $1,000,000… I Could Retire”. I hate guys like Mr. Trahair who rant about the financial services industry and their “vested self-interest in telling people they need more” and flame about how the banks try to scare people into putting more money away for retirement. All the while ignoring the fact that the individual also has a vested self-interest in saving for retirement. It’s the stupidest reason to not invest as much as possible that I have ever heard. It’s like taking a lower salary so you can receive the GST credit. [...]

]]> By: Steve Heath http://www.canadiancapitalist.com/smoke-and-mirrors-myths-part-1/#comment-23451 Steve Heath Fri, 09 Mar 2007 12:13:26 +0000 http://www.canadiancapitalist.com/2007/03/08/smoke-and-mirrors-myths-part-1#comment-23451 Yeah, but I'm lazy enough as it is, if I didn't have to get up to go to work I'd never get out of bed :) Yeah, but I’m lazy enough as it is, if I didn’t have to get up to go to work I’d never get out of bed :)

]]> By: Mike http://www.canadiancapitalist.com/smoke-and-mirrors-myths-part-1/#comment-23433 Mike Fri, 09 Mar 2007 04:02:58 +0000 http://www.canadiancapitalist.com/2007/03/08/smoke-and-mirrors-myths-part-1#comment-23433 Sounds great Steve. I was going to suggest that you can probably retire earlier than 65 but you probably already know that! Sounds great Steve.

I was going to suggest that you can probably retire earlier than 65 but you probably already know that!

]]> By: Steve Heath http://www.canadiancapitalist.com/smoke-and-mirrors-myths-part-1/#comment-23420 Steve Heath Thu, 08 Mar 2007 22:02:48 +0000 http://www.canadiancapitalist.com/2007/03/08/smoke-and-mirrors-myths-part-1#comment-23420 There are two main reasons. The first is that I am making a pretty good salary and I am pretty young. Assuming a total return on investments of 6% (which I hope I'm lowballing), then when my mortgage is fully paid, by simply continuing those payments except putting them into savings, I will have an approximate principal base of 1.6 million (not counting my home, tax refunds or inheritences) by the time I am 65. Those payments are only 28.5% of our current gross income (which will presumably raise a lot over the next 30+ years), so it's not like it's cramping our lifestyle, and between $96,000 interest + OAS + CPP, I anticipate our principal growing faster than inflation, which works out fine for me because the second reason is that I have a dream for my family. I would like to set up the "Heath Bank" for family members, so that whenever one of my children, grandchildren, nieces, nephews... whatever, starts off life they don't have to do it burdened with debt. Whether it is for tuition, their first car, their house, wedding, any big expense... I want the funds to be there so that they are loaned the money at 0% interest, repayable as they can. It may not last beyond the generation after me if they're a bunch of wastrels, but hey, that's why they call it a dream :) There are two main reasons. The first is that I am making a pretty good salary and I am pretty young. Assuming a total return on investments of 6% (which I hope I’m lowballing), then when my mortgage is fully paid, by simply continuing those payments except putting them into savings, I will have an approximate principal base of 1.6 million (not counting my home, tax refunds or inheritences) by the time I am 65. Those payments are only 28.5% of our current gross income (which will presumably raise a lot over the next 30+ years), so it’s not like it’s cramping our lifestyle, and between $96,000 interest + OAS + CPP, I anticipate our principal growing faster than inflation, which works out fine for me because the second reason is that I have a dream for my family.

I would like to set up the “Heath Bank” for family members, so that whenever one of my children, grandchildren, nieces, nephews… whatever, starts off life they don’t have to do it burdened with debt. Whether it is for tuition, their first car, their house, wedding, any big expense… I want the funds to be there so that they are loaned the money at 0% interest, repayable as they can. It may not last beyond the generation after me if they’re a bunch of wastrels, but hey, that’s why they call it a dream :)

]]> By: Mike http://www.canadiancapitalist.com/smoke-and-mirrors-myths-part-1/#comment-23419 Mike Thu, 08 Mar 2007 21:07:19 +0000 http://www.canadiancapitalist.com/2007/03/08/smoke-and-mirrors-myths-part-1#comment-23419 Steve, why are you planning on no depletions? Won't that mean a significant increase in the amount of $$ you'll need to retire? Steve, why are you planning on no depletions? Won’t that mean a significant increase in the amount of $$ you’ll need to retire?

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