I’m typing this edition of weekend reading on the deck of our summer vacation rental in Port Renfrew, taking in this breathtaking view of Port San Juan. Yesterday we watched two bald eagles dive from the tree tops towards the water to dine on fish, spotted a family of hummingbirds sipping nectar from nearby flowers, and took a stroll through the rich tide pools at Botanical Beach Provincial Park.
The weather has been amazing so far – even the bit of rain we had yesterday was more like a mist and we managed to stay warm on our hike. We’re contemplating a whale watching tour later in the week; a pricey but potentially once in a lifetime experience for the family while we’re out on Vancouver Island.
Off to explore more of this spectacular region!
This Week’s Recap:
On Tuesday I cautioned readers to avoid these pitfalls when financing a vehicle.
On Friday I wrote about making rational financial decisions vs. behavioural driven decisions.
Over on Rewards Cards Canada I looked at Brim Financial’s failure to launch with its ‘revolutionary’ MasterCard.
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We’ll start with Nick Maggiulli, Of Dollars and Data, who argues that knowledge is both a privilege and a curse when it comes to investing.
Rob Carrick nails it when he says the missing link in financial literacy is the financial-services industry’s inability to communicate in plain language:
“To paraphrase a comment reportedly made by Albert Einstein, mastery of a subject means you can explain it simply.”
I couldn’t agree more:
No doubt this is why I started reading (and now writing) a personal finance and investing blog, and why people prefer to get their information from forums such as Reddit and Red Flag Deals, etc. #ELI5 https://t.co/KJ6SergHHm
— Boomer and Echo (@BoomerandEcho) July 6, 2018
Here’s financial planner and Sketch Guy Carl Richards explaining why the best investing approach should feel like lethargy bordering on sloth.
How you draw down your retirement savings could save you thousands — and this program proves it.
Millionaire Teacher Andrew Hallam lists three massive risks of actively managed mutual funds.
As at the end of 2017, Canadians still had 88.8% of their mutual fund and ETF assets invested in actively managed products. Ben Felix explains why their performance continues to be dismal:
Here’s Melissa Leong on how to host a summer bash without breaking the bank. I like the tip to splurge on food, if nothing else.
Preet Banerjee says if coffee is a passion, you should try roasting your own beans at home (and maybe save thousands of dollars).
Spending more than $1,000 on children’s activities? Ask your child to narrow their interests down to 2-3 and plan for the costs in advance.
My Own Advisor Mark Seed talks about diversifying his TFSA with ETFs.
Why some homeowners will pay more than expected to renew their mortgage.
Rob Carrick discusses how to say no to friends and family who want to involve you in things you can’t afford, with Shannon Lee Simmons, author of Worry-Free Money.
Finally, here’s an ex-Wall Street short seller’s drastic advice for saving Vancouver’s economy — and itself.
Have a great weekend, everyone!