Comments on: One family’s personal finance tale: November edition http://www.thickenmywallet.com/blog/wp/2008/11/25/one-familys-personal-finance-tale-november-edition/ Everything to do with thickening your wallet by entrepreneur turned President of an Investment Company Tue, 07 Sep 2010 20:18:38 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: Saver Queen http://www.thickenmywallet.com/blog/wp/2008/11/25/one-familys-personal-finance-tale-november-edition/comment-page-1/#comment-17360 Saver Queen Wed, 26 Nov 2008 01:07:46 +0000 http://www.thickenmywallet.com/blog/wp/?p=558#comment-17360 First of all, wise choice to go with the PC card. I agree that the Aerogold doesn't make sense. I considered signing up for a year just to get the bonus points because the bonus points gave you enough for one flight. But then if you go with a spouse, they have to purchase their flight on the same airline and Air Canada is not usually your cheapest option. Plus you pay taxes on your flight and you get a big charge if you make a tiny change. (One time I actually got charged an extra $50 for wanting to stay at my connecting destination and not get back on the plane for a connecting flight - doesn't make any sense at all since I freed up a space in the airplane!) But don't forget, you can use your aeroplan points for things other than flights. I used mine for $100 HBC gift certificate and a magazine subscription recently! PS enjoy all the free groceries from PC! I love that! First of all, wise choice to go with the PC card. I agree that the Aerogold doesn’t make sense. I considered signing up for a year just to get the bonus points because the bonus points gave you enough for one flight. But then if you go with a spouse, they have to purchase their flight on the same airline and Air Canada is not usually your cheapest option. Plus you pay taxes on your flight and you get a big charge if you make a tiny change. (One time I actually got charged an extra $50 for wanting to stay at my connecting destination and not get back on the plane for a connecting flight – doesn’t make any sense at all since I freed up a space in the airplane!) But don’t forget, you can use your aeroplan points for things other than flights. I used mine for $100 HBC gift certificate and a magazine subscription recently!

PS enjoy all the free groceries from PC! I love that!

]]> By: Potato http://www.thickenmywallet.com/blog/wp/2008/11/25/one-familys-personal-finance-tale-november-edition/comment-page-1/#comment-17356 Potato Tue, 25 Nov 2008 14:29:42 +0000 http://www.thickenmywallet.com/blog/wp/?p=558#comment-17356 Well, the market meltdown has been pretty scary. I'm down about 50% myself, which sucks, but it can't be as bad for you guys since so much of your investments are in <a href="http://www.thickenmywallet.com/blog/wp/2008/09/30/one-familys-personal-finance-tale-september-edition" rel="nofollow">cash/fixed income</a>. As for the financial advisor: do you need one any more? I'm sure there's a use for them when it comes to tax planning and picking a TFSA vs RRSP vs whose name the non-registered portfolio should be in... but yours doesn't seem up to that, and isn't even getting you into any kind of sensible asset allocation. You've already educated yourself enough to ask about REITs and ETFs, so how much more work and education would it really take for you guys to go completely self-directed? After all, the hardest part about managing your finances is setting a budget and sticking to your savings goals, and virtually no financial advisor will get down to that kind of nitty gritty detail, AFAIK. Otherwise, I'll have to parrot the advice all over the blogosphere: look for a decent fee-only planner/advisor. You'll pay more up-front in fees, but then can walk away with your master plan and won't pay behind the scenes for a glorified mutual fund salesman. Well, the market meltdown has been pretty scary. I’m down about 50% myself, which sucks, but it can’t be as bad for you guys since so much of your investments are in cash/fixed income.

As for the financial advisor: do you need one any more? I’m sure there’s a use for them when it comes to tax planning and picking a TFSA vs RRSP vs whose name the non-registered portfolio should be in… but yours doesn’t seem up to that, and isn’t even getting you into any kind of sensible asset allocation. You’ve already educated yourself enough to ask about REITs and ETFs, so how much more work and education would it really take for you guys to go completely self-directed? After all, the hardest part about managing your finances is setting a budget and sticking to your savings goals, and virtually no financial advisor will get down to that kind of nitty gritty detail, AFAIK.

Otherwise, I’ll have to parrot the advice all over the blogosphere: look for a decent fee-only planner/advisor. You’ll pay more up-front in fees, but then can walk away with your master plan and won’t pay behind the scenes for a glorified mutual fund salesman.

]]> By: Four Pillars http://www.thickenmywallet.com/blog/wp/2008/11/25/one-familys-personal-finance-tale-november-edition/comment-page-1/#comment-17355 Four Pillars Tue, 25 Nov 2008 12:10:44 +0000 http://www.thickenmywallet.com/blog/wp/?p=558#comment-17355 You want someone to educate you about investments possibilities? Look in the mirror! There's your teacher. :) You want someone to educate you about investments possibilities? Look in the mirror! There’s your teacher. :)

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