Weekend Reading: Finance in the River Edition

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Regular readers know that I update and publish my net worth twice a year, including a year-end summary. You should also know that I did not publish an update at the end of 2022.

Not because I’m embarrassed that my portfolio suffered a loss for the first time in recent memory. This is a feature of financial markets, not a defect.

The truth is that this year I didn’t do a net worth calculation because our finances are falling apart.

We are in the process of building a house that has no final price yet. It’s only about 40% complete. We paid two out of five total deposits.

Meanwhile, our house sold this week – but until we accept an offer, we won’t know exactly how much it’s worth. We also have planned but unknown expenses due this year such as agent commissions, moving expenses, blinds, some furniture and landscaping.

An asset statement is meant to be a picture, but our actual picture is distorted. We own 1.4 houses? Do we use the appraised price of our new home and our existing home, minus the new mortgage coming up? What if our house doesn’t go up for sale for a while?

My expectation is that the picture will clear up in a few months. We’ll move into our new home, sell our existing home, use some of the sale proceeds to cover planned but unknown expenses, maybe put some money back into our TFSAs, and then take out the mortgage our new

For this reason, I am postponing the asset update to the end of 2022 and will publish a regular mid-year update at the end of June 2023. By then we will be settling into the new normal. of ours and I can give a clearer picture of our finances. position.

So, to all the financial voyeurs out there, hold on for a few more months 🙂

This week’s recap:

The Engens got a puppy over the holidays!

This little rascal of a golden retriever is one of the big reasons I haven’t posted much here in the last three weeks. It’s like having a newborn/toddler all over again!

I managed to update my beginner’s guide to RRSPs.

And earlier in the year, I gave you three investment news to ignore in 2023.

Finally, I updated my investment and trading activities for 2022.

DIY Investment Course coming soon:

I’ve been talking about this course for months, but it’s almost ready to go (really!).

I’ve helped hundreds of clients successfully transition to do-it-yourself investing – ditching their expensive mutual funds and moving to a self-managed portfolio with a single asset allocation, equity-adjusted ETF risk.

In this video series, I explain why you might want to do this, how to choose the right asset mix, how to choose the right ETF for asset allocation, and how to choose a platform of discount brokerage.

From there I have platform specific videos Search, easy trading wealth, RBC direct investmentand TD Direct Investment (that’s all for now), walks you through opening an account and the types of accounts involved, funding the account with new and recurring contributions, how to transfer your existing accounts to the new account managed by her itself (without having to share from your account). your advisor) and how to buy an ETF.

It’s like I’m sitting in your living room, sharing my laptop screen, and walking you through each of these steps in a short, easy-to-follow video series.

This could be a game-changer for long-time mutual fund investors who understand they are overpaying for their investment fees but can’t muster up the courage to switch to a low-cost ETF portfolio.

It’s also good for new investors who want to get started properly without getting trapped in high-fee mutual funds at a bank or falling for day trading, option writing, crypto pumps, meme stock trading scams on TikTok .

You will be the first to know about the launch of my investment course – so stay tuned!

Weekend reading:

As we all waited patiently for interest rates to peak and inflation to subside, it seemed inevitable that the global economy was headed for recession. But unemployment is still historically low and consumers are still spending on goods and services. What if there is no recession and we can still get a soft landing?

Above average or below average? How good are you as an investor?

Between a TFSA and non-registered accounts, what’s the most tax-efficient way to fund retirement?

Double shot by Ben Carlson. First of all, why invest in stocks when bond yields are higher?

And is it realistic to have 100% of your portfolio in stocks?

Justin Bender updated his model portfolio outlook for 2022, including asset allocation ETFs from Vanguard, iShares, BMO and Mackenzie:

Andrew Hallam shares what we can learn from the best and worst performing bond funds of 2022 (plus a look at his own holdings).

Michael James on Money updated their 2022 investment returns.

David Booth, founder and president of Dimensional Funds, says that people have memories, markets don’t. And that’s good.

Mr Booth also wrote that the poor results of 2022 were a test for developing a financial plan to stick to:

“I don’t make predictions, but I believe in the power of human ingenuity to solve big and small problems, by innovating all the way. What has remained constant throughout my life is the power of people to make progress in the face of challenges.”

Great post by Andrew Hallam: Like a sugar rush, the rush to buy something “better” soon wears off. See how you can actually increase your life satisfaction.

Retired actuary and author Fred Vettese says the best asset mix for retirees has a slightly higher dose of equity, with 60% stocks and 40% bonds (value).

My Own Advisor blogger Mark Seed reflects on income needs and wants in retirement.

Do pensioners have to have private health insurance? This question is at the top of the list for many of my retired clients (subs).

Finally, welcome to retirement. A year of travel, volunteering, and yes, work.

Have a good weekend!

Source: boomerandecho.com

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