How To Go Broke Quick In 5 Easy Steps : Our Net Worth Update Jan 2018 (+0.39%)

THE PURSUIT OF HAPPINESS STILL HAS TO PAY THE BILLS   If you want to learn the secrets about how you can go broke quick, I’ve got you covered. It’s not about wanting to earn more money it’s about understanding why you don’t have any. Often it’s easier to see outside a pane of broken glass than it is through a foggy window that seems like it will take forever to defrost. Instead of waiting some people decide to jump out the hole where others will wait for the heat. Why on earth would you want to read about how to go broke quick on a blog about frugal living and budgeting? One simple answer The only way up is making sure you’ve got a ladder that is on solid ground. This means understanding what NOT to do even if you think it’s financial common sense. You might be saying, “I don’t need to find out how to go broke quick, I am broke“. That’s fine and dandy but do you really understand what you got you to this point? I’m not talking about excuses either because those people you pay your bills to, don’t care. It really is painful […]

Worry about your financial future now not when you retire : October Net Worth Update 2015 (+2.50%)

RETIRE HAVING THE MONEY YOU NEED FOR THE LIFESTYLE YOU WANT   Some people dream about when they get to retire where others forget about their financial future the moment they get their first pay-cheque. If you really don’t care about money and saving for your future you likely won’t be shocked if it doesn’t go as planned for you. I know times are tough but learning to save a dollar here and a dollar there is better than nothing at all. Canadians are worried about their debt and retirement and rightfully so, it’s a tough world out there. Even though I started buying houses when I was young I always kept telling myself that my financial future depended on what I did. I’m glad I listened to myself.   Your financial future depends on you   The time is now to start worrying about where you will be financially when you retire not when you retire. You shouldn’t have the burden of debt on your shoulders when you are a senior but many do and it’s tough. Not everyone has that golden opportunity to retire early but even if you have to continue working at least knowing there is […]

How to get richer before you retire : The Saturday Weekend Review #109

RETIRE RICHER IF YOU CAN   No one wants to retire broke and if you don’t want to be that person there are things you can do to make you richer before retirement. How much do you need before you retire? Only you can answer that question because I don’t know what type of lifestyle you want to live or how much debt you will have etc. Talk to your financial advisor for clarification if you have one or make the call yourself.   It’s Your Money   It’s nobody’s business what you do with your money but your own. No one can tell you how to spend it, save it or invest it but you. Believe me when I say some people always stick their nose into the finances of everyone else but their own. I’ve always said that no one will care more about your retirement but yourself. If you believe that then you have already invested time into finding ways to make sure your retirement days are comfortably padded with enough cash to fund what you want and need to do. You earn the money, you do what you want with it. BUT…there will always be someone […]

How I plan to retire at 28 using dividend income

RETIRE ON DIVIDEND INCOME   I’m Mr. Captain Cash and yes I have this absurd, unrealistic, or impossible dream by conventional standards of retiring before my 28th birthday on my dividend income.   How do I plan to retire so early?   To retire before my 28th birthday I intend on creating an investment portfolio that will generate $20,000 in annual dividend income covering my annual expenses. Once my annual dividend income exceeds my annual expenses it will mean I’m financially independent and able to “retire.” I used quotations around the word retire because I will not retire by conventional standards. To me the word retire or becoming financial independent means I will be able to spend the majority of my time the way I intend to as I am no longer reliant upon my work pay cheque to cover my expenses. For myself this means not working or only working a couple of days a week when I have kids to watch them grow up or the flexibility to travel for six months. In a nut shell it is to have the freedom to do whatever I want to do each morning I wake up. I always like to […]

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