Weekend Reading: Starting Over Single Edition

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Starting over can be difficult. You’ve spent most of your adult life building relationships, a career, a place to call home and maybe a family. If you are widowed or divorced and suddenly find yourself starting over again, it can be intimidating looking at your uncertain future. You’re probably wondering ‘what’s next in life and how do I even get started?’

Your outlook is everything. View your new beginning as a second chance – an opportunity to try new things, meet new people, and maybe even start a new career. Reinventing yourself can be an incredibly positive experience. You just need to know where to start.

Here are some things to consider:

  1. Create a personal roadmap
    Answer some of the following questions: What are your personal goals? Where do you want to be a year from now? What does your financial future look like?
  1. Treat yourself and travel solo
    To avoid the ‘single supplement’ when booking accommodation, some travel agencies pair singles of the same gender or allocate limited rooms for singles without the supplement.
  1. Learn new skills or start a new career
    While it’s generally not a good idea to tap into your RRSPs before retirement, and you should always speak to your tax and financial advisors, you may consider the Life Long Learning Plan (LLP).
  1. Re-evaluate your estate plan
    If you and your former spouse had wills or an estate plan, they will need to be updated to reflect changes in beneficiaries and power of attorney.

Every person will have a different experience. But taking a few simple steps can start you off in the right direction. Get solo travel tips, discover what important details every new single should update and more!

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This Week’s Recap:

On Monday I ranted about door-to-door sales and asked readers to write their city councillors to encourage them to ban this practice.

On Wednesday Marie explained the ins and outs of your credit report and credit score.

Thursday continued our monthly Throwback Thursday series with a look back at the 1980s.

And on Friday I wrote about the parable of the twins and compared the tale to my RRSP and TFSA.

Over on Rewards Cards Canada I looked at credit card options for those who travel south of the border.

Weekend Reading:

Think Advisor explains what makes sequence of returns risk so dangerous.

A critical look at the 4% safe withdrawal rate in the quest to achieve a life-long retirement income.

The Wall Street Journal says dynamic withdrawal strategies give retirees more flexibility than the 4% rule.

In this video, Sandi Martin and Rob Carrick talk about how a financial planner can lighten your load:

Steadyhand’s Tom Bradley criticizes a recent MoneySense profile of a 21-year-old who bought a rental property to start building his nest-egg.

A decade into Canada’s condo boom, Macleans describes what has become condo hell.

The Financial Post explains how real estate agents are evolving to stay relevant in a high-tech, pricy market.

Time Magazine looks at 6 fear-based moves that lower your net worth.

Downtown Josh Brown shares the number one thing that makes you susceptible to fraud.

Here are 8 ways the internet of things will change the way we live and work.

30 years ago, American Airlines eliminated a single olive from its salad serving and saved over $40,000.

Harvard Business Review with a hilarious look at how ‘Dilbert’ practically wrote itself.

Stephen Weyman explains what an Aeroplan mile is really worth.

Airbnb or hotel? Barry Choi looks at the pros and cons.

Michael James reviews The Two Income Trap.

Big Cajun Man ranted about how we’re giving up more privacy in exchange for savings and rewards points.

Jessica Moorhouse launched the Let’s Talk Money podcast this week and is giving away a $100 Amazon gift card.

Follow my Weekend Reading magazine on Flipboard, where I find and curate all of the great articles you see here each week.

Have a great weekend, everyone!

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  1. Michael James on June 6, 2015 at 9:43 am

    I have no doubt that the internet of things will create huge changes to our lives, but security is still an afterthought and this will have to change. We can’t have bored teenagers remotely crashing cars for fun. Thanks for the mention.

  2. Barry @ Moneywehave on June 7, 2015 at 8:01 am

    Thanks for the mention.

    Generally speaking I prefer Airbnb, but I find a hotel stay for the last few days of my trip is a nice treat and a good way to feel really relaxed before returning to the real world.

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