Update: January 15 – 21

It was a pretty busy week; I had a birthday, dealt with a family emergency and approved a draft budget for my strata council! Having made a conscious effort to start putting more time into this blog, I must say I’m quite enjoying the challenge. I’m going to be cutting back hours at the wine store starting in February, which should give me more time for my personal projects!

Check out our reading list for the week:

  • My father is an accountant, yet I still felt somewhat financially illiterate when I left home. Financial literacy is not a topic that is covered in school, so it’s not surprising many of today’s 20 and 30-somethings don’t know a whole lot about managing money. Teacherman, a new columnist at Canadian Finance Blog, talks about “Why Financial Illiteracy Hurts Everyone“. Aside from the obvious personal implications, he raises some interesting and less obvious consequences on society as a whole, as a result of this illiteracy epidemic.
  • I recently stumbled across The Money Rabbit, another Canadian based personal finance blog/resource. Unfortunately, it looks like I discovered her too late, as she is taking an indefinite hiatus from blogging. I am starting to understand the points she raises about the time it takes to run a blog. I hope to share some of my thoughts on the motivation behind keeping this site up an running in a not to distant post.
  • Canadian Dream posted this week about the issues behind assuming a safe withdrawal rate of 4%, when planning for your retirement. Being far from retirement, I have not given this a lot of thought. However, I do agree that there are inherent dangers in trusting a retirement calculator too much. Interested to hear any other thoughts on the subject!

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The Outlier Model was featured in the Canadian Finance Carnival this week. Check it out!

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