1. Peter Bernstein writes in the New York Times that our assumptions about the future may be wrong and risk management should be a process of dealing with the consequences of being wrong.
  2. Jon Chevreau reports that a million dollars ain’t what it used to be. There are now 1.1 million Canadian families with a net worth of $1 million or more.
  3. Larry MacDonald discussed how real estate agents don’t have an incentive to get the best price for the home owner. Michael James agreed with Larry’s ideas on improving the incentives for Realtors.
  4. Ellen Roseman talked about Dividend Reinvestment Plans (DRIPs) as a cheap way to invest for the long term.
  5. As stock markets are in free-fall mode once again, Preet reminds us how important it is to stay the course.
  6. Thanks to Canadian Financial Stuff for pointing out that Ontario residents can renew their license plate validation stickers online.
  7. Million Dollar Journey’s shares his top ten ways to save money in University.
  8. If a stock you held cut its dividend, what do you do? Some suggestions from the Dividend Guy.
  9. Thicken My Wallet on how to survive a bad economy.
  10. Canadian Dream upbraids Million Dollar Journey for being a workaholic.

Have a great weekend everyone!

This article has 12 comments

  1. Thanks for the link back, have a stupendous long weekend!


  2. Thanks for the link and have a great weekend! 🙂

  3. Thanks for the link, CC. Enjoy Canada Day!

  4. Millionaire by45


    I loved your link to Michael James on Money regarding Real Estate Agents.

    We have moved numerous times and have paid a small fortune in Realtor fees (approx $80,000 total) . We have made a very nice profit as well but it pains me to pay such high fees for what I consider a very limited service. I think that realtor’s serve a valuable purpose but the fee structure is out of whack. I have no solutions on how to fix the problem, but I am hoping that someone does. I am more than willing to pay $30,000 in realtor fees to sell my house as long as I am getting the best possible price for my house. But when the realtor pressures me to sell my house for a lower price than what it is worth because to them it is worth getting paid $300 less in order to close the deal quickly instead of putting in an extra 30 hours in order to get an extra $300 (even though that amounts to an extra $10,000 to me), I get very annoyed.

    There is a chapter in Freakomics that refers specifically to this issue. They do not provide a solution, but they do provide evidence that realtor’s sell their houses for a higher price than their clients (with everything being equal).

    For the person that comes up with a workable solution: I hope they become very wealthy because of it. As I stated earlier, Realtor’s provide an invaluable service that I am more than willing to pay for but I want their objectives to be the same as mine (sell my house for the highest possible price).

    I have talked to many realtors who state that it is not the money that drives them. I am not convinced.

  5. Thanks for the link and enjoy the weekend!

    – Workoholic

  6. Upbraids…Mmm, sounds like such a nice word compared to the post where I ask “are you CRAZY?!?!”

    Have a great weekend all,


  7. Sounds like a nice word, but really isn’t:

    1. upbraid v.
    find fault with (someone); scold: he was upbraided for his slovenly appearance. See note at scold .
    (From The New Oxford American Dictionary)

  8. Canadian Capitalist

    I think reproof — “criticism for a fault” — sounds better (at least according to Merriam-Webster). Jon is right that upbraids is a strong word.

  9. Great link to the Bernstein article. He is always worth reading.

  10. Thanks for the mention. Enjoy the long weekend.

  11. MB45,

    I sold my home about 2 years ago. After interviewing a few agents, I decided to sell it myself. It was in a very desirable location. I didnt’ even have to place an ad – I was approached by a friend of a neighbour when they caught wind of my wanting to sell. I was very nervous about handling the transaction myself, but with the advice and help of a notary and the Internet (and a sane buyer), I was able to get through the process in a very short period of time without a hitch. Saved myself about $20k!

    As someone who has worked on commission alone for almost 20 years, I can sympathize with real estate agents. They do work hard. So what. So do many people. The fees are absolutely ridiculous and undeserved. They should charge a flat fee – not a % of the sale value.

    Preet article: Staying the course is the right thing to do – except when it’s not. How tired I am of reading these simplistic and worthless investing axioms.

  12. Thanks for #6. My birthday is coming up and I’ve been procrastinating; your post came along at the perfect time!