5 Housing Options To Consider As We Age – The Saturday Weekend Review #170

THERE IS NO HARM IN PREPARING FOR FUTURE HOUSING ARRANGEMENTS     No matter what generation you were born in eventually you will age and with that comes options especially housing needs to fit your lifestyle and budget. When we first bought our house in 2009 we were practically the youngest couple on the street with no kids. We looked high and low for the perfect house for us which meant we let house prices influence our real estate budget. We were fortunate to have so many houses to choose from at the time as prices took a steep dive. It was imperative for us to buy the least expensive house we could find in the most expensive neighbourhood. We knew eventually that this housing decision would come back in our favour and it has although we’re not quite sure we are ready to take the plunge and move just yet. Since then housing prices in our neighbourhood are through the roof with multiple offers over asking price that would shock any seller (in a good way). Some of our friends have had huge celebrations after the sale of their house as they scored big. This kind of housing windfall […]

How to make money today and save it for tomorrow without going bonkers : January 2016 Net Worth Update (+0.48%)

TREAT YOUR CASH LIKE A MONEY PLANT AND WATCH IT GROW BUT EVEN A PLANT CAN DIE…RISK!   Retirement should always be on your mind or at least at the back of your thoughts because if you want to enjoy the fruitful golden years you need to make money today and save it for tomorrow. Does that mean we should shy away from investing in our future if all of our retirement plans can get flushed over-night? No, I don’t think so but I do believe that Canadians need to be aware of what is going on out there and stay on top of their investments which includes their house. A whopping 26% of Canadians feel they are in a worse financial position than they have been over the past two years according to a recent Manulife poll. I’m not surprised with the way prices are go up, incomes not moving anywhere but down and consumer debt on the rise. Every month we review our investment portfolio online to check performance, some days are good other days are better. There will be days,, months and maybe even years that are crap but you can’t predict everything even if you are […]

How possessions ruined us and minimalism gave us freedom

Lured into a false sense of ownership   The amount of possessions you own can actually hinder your freedom. In fact, we have been lured into a false sense of ownership. Your possessions may actually be in charge of you! With credit cards and financing options in abundance, our purchasing power often seems unlimited. Having 0% interest rates make it easy for us to buy desired items and avoid paying interest on them. This better than paying large amounts of interest on purchases, but it is still a dangerous game to play. The items you pay for in the form of credit card debt are not truly yours until they are owned outright. Even after you finish paying off your items, having a hoard of possessions can prevent you from taking steps toward your ideal lifestyle.   Possessions and a stagnant lifestyle   Over the last year my husband and I have realized that we really want to move to a more remote location. Our reasons for doing this are multiple, but one of these reasons is that we would like to live a simpler, more self-sufficient life. This desire to move has made us realize that our life is […]

Young adult teaches us about being house poor in 15 minutes

DON’T GET CAUGHT SINKING YOUR SHIP   Being house poor doesn’t necessarily mean that you simply have no money but it can mean that you have too much house you can’t afford. House poor can also mean you have too much stuff, no money and/or piles of consumer debt that you are struggling financially to make ends meet. The term “poor” means so many things to everyone that the only way to describe it from a financial perspective would be lack of money. Some people may not consider themselves poor until starvation kicks in and they have to go to the food bank or when they reach the point of bankruptcy. Others may take on a different view but no matter what poor means to you it’s not a place that people “dream” of.   House poor is not easy living   You might consider yourself house poor when you can’t pay your mortgage which could be for a variety of reasons. There are also plenty of poor people living in the ritzy part of town who are struggling to take control of their financial situation. I think there are many misconceptions of the word poor and the only person […]