Get Your Taxes Done Dammit !
In Canada it is time to get your taxes done , or the CRA will start making your life miserable, or, worse, you will be loaning the government money long term.
Decisions, Bitcoin, Inflation and #MoneyTalk
This past week my wife and I celebrated our 32nd year of living in Ottawa. When we first moved to Ottawa in 1986 I was sure we would be here for only a year or two. All our friends and my wife’s family are near Toronto, so I was sure we would decide to move back, at some point. The problem was that decision was never made, so by not making that decision, we decided to stay in Ottawa. In life not making decisions, is still a decision (and some folks never quite figure out that philosophical point). Keep this in mind when you cannot decide things financially, your lack of decisiveness is a decision.
For those unaware Michael James (friend of this site), knows his algebra, computers and cryptography, so I have waited for him to write about Bitcoin, and write he did this week. As usual his article is pointed, and excruciatingly on the mark for those who want to dabble in Cryptocurrencies. Yes, I have called you an idiot for investing in Bitcoins, but now you are hearing from someone who is an expert in the area, he thinks you are an idiot too. No he doesn’t call you an idiot, but you can plainly read that is his sentiment.
The Bank of Canada says Inflation has returned (given gas is $1.35 a litre in Ottawa, I tend to agree with that statement). Even though they held their overnight rate at 1.25% they also warned that Inflation is here and they will need to react to it soon (in a separate statement):
Assuming our forecast remains on track, it is Governing Council’s view that interest rates will need to move higher over time to keep inflation on target.
Does this mean that Interest Rates will be going up soon? The Magic 8-Ball of Personal Finance replies, “Signs point to yes”.
My Recent Writings
Does a Credit Card Appear Out of Nowhere? That is the question that came to mind when my daughter told me about a credit card that appeared on her on-line banking page, but she never did apply for one. How is that possible? Best read and see how that happened.
Micro Blogging for Motivation
John Young and I were at the University of Waterloo at the same time, we caroused a few times together, and he is even somewhat related to me (he is my wife’s cousin), but the fact that he ran the Boston Marathon is amazing. The fact he is going to then run many more marathons this year, is even more amazing. What does John normally do? He is a Math Teacher.
I truly believe this picture by @JK_Photog captures my emotion the moment I crossed the finish line at @bostonmarathon #BetheHammer #GoAchilles pic.twitter.com/hNvTGtk1yC
— John Y #BetheHammer 💙 (@dwarfparatri) April 17, 2018
Does a Credit Card Appear Out of Nowhere?
One of my daughters is starting to work and has asked me questions about what she should be doing with her money. She is lucky, her student debt is not very high and she has… Read More »Does a Credit Card Appear Out of Nowhere?
Stock Picking Update, Crypto Credit, and #MoneyTalk
At the start of the year I actually published a Stock Picking post about what to buy this year. It was mostly me being snarky about stock picking done by other bloggers, but I started to think I should continue to eat my own dog food, and figure out what my stock picks did, in terms of return.
Here is where my stock picking stands now:
| Jan-01 | Apr-01 | |
| VDY | $1,000.00 | $950.00 |
| TDB911 | $1,000.00 | $1,013.30 |
| TDB909 | $1,000.00 | $998.00 |
| TDB902 | $1,000.00 | $1,015.50 |
| TDB900 | $1,000.00 | $954.50 |
| Value | $5,000.00 | $4,931.30 |
| Loss or Gain | Â 0.00% | -1.37% |
Losing about 1.4% is nothing to brag about, but, given the volatility of the market it isn’t too bad either. My guess is this could be a volatile year. We shall see what the summer does my stock picking prowess.
It is Friday the 13th today, it must be true that someone has done something odd financially today, because of this date. If you have, shame on you!
I was intrigued by a statement I saw on Reddit, that the RBC will no longer allow you to buy Crypto Currency with their credit cards. The statement doesn’t give a reason, and simply does the Canadian thing, and apologizes for the inconvenience. I am a big fan of brevity, but that is astoundingly terse for that kind of decision. My guess is they just don’t trust the Crypto-currency marketplaces enough to allow their credit vehicles to be used there. If I can’t use credit cards to buy cryptocurrency how do I pay for it? Gold (Au)? Cash? Other cryptocurrencies? Intriguing.
In other financial news I threw up in my mouth when I read Mackenzie fined for excessive promotional spending. The money spent is your Management Fees, and that is where that extra money goes? I still feel nauseous . Your retirement money is giving folks iPads? Wow.
My Recent Writings
What is a Serial Refinancer ? You know someone like this, they keep building up credit card debt, then either getting consolidation loans or adding it to their HELOC or worse their mortgage. This is serial murder for your finances.
I don’t think folks understand that with investing, when you sell is more important than what you buy. I attempt to elaborate on that with 2 Key Investment Strategies. Being a Millionaire “on paper” means nothing, until you have the money in your hands, you are not a millionaire.
Micro Blogging on Finance
More women are filing for bankruptcy, is this a win for women? Truth of the matter is, I don’t think so, but there is a podcast to talk about that one this weekend.
Our #bankruptcy study revealed more women are filing insolvency. To discuss why this is happening, we have guests @GailVazOxlade, @squawkfox, and @alison_petrie3 w/ co-host @sharonhoyes on this Saturday's podcast! Subscribe so you don't miss it: https://t.co/WlupwSpVii
— Hoyes Michalos (@HoyesMichalos) April 5, 2018
Read More »Stock Picking Update, Crypto Credit, and #MoneyTalk
2 Key Investment Strategies
There are two key investment strategies that all folks need to have, that are obvious, but rarely ever spoken about. The second strategy is the one that most folks seem to forget about.
A Buy Strategy
Why are you buying? What is the reason you are investing? Is this for a retirement fund, emergency fund, or just savings in your TFSA ? You need to answer that question and that is the cornerstone of your buy strategy.
When are you going to buy can be important, but market timing isn’t going to work out. When are you going to start investing is more important in your buy strategy.
What are you going to buy? Stocks, mutual funds, index funds, ETFs, and GICs are just some of the investment vehicles you can use to invest your money. Depending on what you buy, you will then need to think about how often and when you buy.
How much are you going to buy? How much money do you have to invest? Another important aspect of your buy strategy.
The other aspect of your key investment strategies is one that far too many folks don’t have.
Read More »2 Key Investment Strategies