Comments on: Smoke and Mirrors Myths, Part 2 http://www.canadiancapitalist.com/smoke-and-mirrors-myths-part-2/ Helping you invest and prosper Sun, 12 Feb 2012 00:54:40 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Examining the myths detailed in the book Smoke and Mirrors | Canadian Capitalist http://www.canadiancapitalist.com/smoke-and-mirrors-myths-part-2/#comment-199762 Examining the myths detailed in the book Smoke and Mirrors | Canadian Capitalist Tue, 08 Sep 2009 01:56:54 +0000 http://www.canadiancapitalist.com/2007/03/12/smoke-and-mirrors-myths-part-2#comment-199762 [...] Continue to Part 2… [...] [...] Continue to Part 2… [...]

]]> By: JB http://www.canadiancapitalist.com/smoke-and-mirrors-myths-part-2/#comment-23761 JB Mon, 12 Mar 2007 20:14:15 +0000 http://www.canadiancapitalist.com/2007/03/12/smoke-and-mirrors-myths-part-2#comment-23761 I find the Tax break I get from contributing to an RRSP make in worth while to put money into my RRSP vs. strictly paying down the mortgage. Any money left after the RRSP I put towards the mortgage. In the first couple of years I max'd out on the RRSP and aggressively paid down the mortgage to get it under control . . lately there's no extra money for the mortgage. New baby on scene and deposible income has vanished :) I find the Tax break I get from contributing to an RRSP make in worth while to put money into my RRSP vs. strictly paying down the mortgage. Any money left after the RRSP I put towards the mortgage. In the first couple of years I max’d out on the RRSP and aggressively paid down the mortgage to get it under control . . lately there’s no extra money for the mortgage. New baby on scene and deposible income has vanished :)

]]> By: Mike http://www.canadiancapitalist.com/smoke-and-mirrors-myths-part-2/#comment-23738 Mike Mon, 12 Mar 2007 15:58:11 +0000 http://www.canadiancapitalist.com/2007/03/12/smoke-and-mirrors-myths-part-2#comment-23738 Exactly Jon, I think one of the problems with a lot of these books is that they try to sell themselves as a resource for "All Canadians" when really they are appropriate for a much smaller subset of the population. Trahair's book is probably most appropriate for someone who's a bit older and hasn't saved much and has just started thinking about what to do for retirement. Or for a low income earner. Swim with the Sharks is a great book for someone who values early retirement over standard of living and financial security, Derek Foster's book is most appropriate for someone who doesn't make much money but has somehow accumulated a large pot of cash or someone who is interested in dividend investing etc etc. I really enjoyed all three of those books but I'm not basing my actions on any one of them. M. Bai's recent book (which I also enjoyed) would probably appeal to more people regardless of their situation since it doesn't have any specific "magic" plan for early retirement. Exactly Jon, I think one of the problems with a lot of these books is that they try to sell themselves as a resource for “All Canadians” when really they are appropriate for a much smaller subset of the population. Trahair’s book is probably most appropriate for someone who’s a bit older and hasn’t saved much and has just started thinking about what to do for retirement. Or for a low income earner. Swim with the Sharks is a great book for someone who values early retirement over standard of living and financial security, Derek Foster’s book is most appropriate for someone who doesn’t make much money but has somehow accumulated a large pot of cash or someone who is interested in dividend investing etc etc. I really enjoyed all three of those books but I’m not basing my actions on any one of them.
M. Bai’s recent book (which I also enjoyed) would probably appeal to more people regardless of their situation since it doesn’t have any specific “magic” plan for early retirement.

]]> By: Dave http://www.canadiancapitalist.com/smoke-and-mirrors-myths-part-2/#comment-23736 Dave Mon, 12 Mar 2007 15:37:19 +0000 http://www.canadiancapitalist.com/2007/03/12/smoke-and-mirrors-myths-part-2#comment-23736 "I have a feeling that Mr. Trahair is outraged that mutual funds are getting rich even when investors are doing poorly." Yeah I get that feeling as well. The financial industry abused him as a child. But I do get a bit outraged myself when I meet someone who hasn't heard of ETFs. “I have a feeling that Mr. Trahair is outraged that mutual funds are getting rich even when investors are doing poorly.”

Yeah I get that feeling as well. The financial industry abused him as a child. But I do get a bit outraged myself when I meet someone who hasn’t heard of ETFs.

]]> By: David http://www.canadiancapitalist.com/smoke-and-mirrors-myths-part-2/#comment-23733 David Mon, 12 Mar 2007 14:55:32 +0000 http://www.canadiancapitalist.com/2007/03/12/smoke-and-mirrors-myths-part-2#comment-23733 MCM, David Ingram discusses that very topic at: http://www.centa.com/CEN-TAPEDE/2003/expert/expert119-01.html and concludes that putting the greater sum against the mortgage is the better option, unless your returns from the market are spectacular. David MCM,
David Ingram discusses that very topic at:
http://www.centa.com/CEN-TAPEDE/2003/expert/expert119-01.html
and concludes that putting the greater sum against the mortgage is the better option, unless your returns from the market are spectacular.

David

]]> By: Jon D. http://www.canadiancapitalist.com/smoke-and-mirrors-myths-part-2/#comment-23732 Jon D. Mon, 12 Mar 2007 14:06:59 +0000 http://www.canadiancapitalist.com/2007/03/12/smoke-and-mirrors-myths-part-2#comment-23732 There are too many variables to declare one over the other. What tax bracket are they in? Do they have any type of work sponsored plan? Married or Single? Employment secure? CC has tried to gone through each variable and offer up discussion points for us to "debate". :) There are too many variables to declare one over the other. What tax bracket are they in? Do they have any type of work sponsored plan? Married or Single? Employment secure?

CC has tried to gone through each variable and offer up discussion points for us to “debate”. :)

]]> By: Middle Class Millionaire http://www.canadiancapitalist.com/smoke-and-mirrors-myths-part-2/#comment-23731 Middle Class Millionaire Mon, 12 Mar 2007 13:25:43 +0000 http://www.canadiancapitalist.com/2007/03/12/smoke-and-mirrors-myths-part-2#comment-23731 why not do both - contribute to your RRSP and put the resulting tax refund towards your mortgage. MCM, http://middleclassmillionaire.blogspot.com/ why not do both – contribute to your RRSP and put the resulting tax refund towards your mortgage.

MCM,
http://middleclassmillionaire.blogspot.com/

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