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What We Learned Playing Robert Kiyosaki’s Cashflow Board Game

Recently we were in Jolly Old England with our friends Alan and Katie. As FIRECracker mentioned in her previous Chautauqua post, we flew 4000 miles to freeze our butts off in the UK for our Chautauqua reunion and it was 100% worth it! Even though we hadn’t seen our Chautauquan family since last August, we picked up exactly where we left off. And after a memorable week spent with our favourite peeps, we headed for Basingstoke (aka “Amazingstoke!”) to stay with Alan and Katie, our Chautauqua organizers, and while we were there, ended up recording an episode of the ChooseFI podcast along […]

Contagion

Another week, another check mark in the game of Canada’s slow-motion housing crash bingo. Let’s recap the sequence of events that led up to the US housing crash and let’s see how many of them we’ve hit so far. Step 1: Households Take on Massive Mortgage Debt This is the first step of any housing crash where average families take on stupid amounts of debt, borrowing excessively under the assumption that any amount of debt is OK because housing always goes up. Right before the American housing market collapsed, Americans borrowed 147% of their household disposable income. And in Canada? […]

Volatility Is Not Your Enemy

Well, this has been an exciting few days in the stock market hasn’t it? On Friday, February 2nd, the Dow Jones plummeted 666 points, the single worst performing day of the stock market in Trump’s presidency. On Monday, February 5th, the Dow did even worse, slumping another 1175 points, marking the biggest one-day drop (in # of points) in the Dow Jones’ history. And then on Tuesday February 6th, the Dow opened down another 567 points, only to close up 567 points, for a stunning 1134-point intra-day swing. This has caused no shortage of breathless commentary from wheezing talking-heads on […]

What Did the Neighbours Pay?!?

The other day a reader sent me this article on the CBC talking about the experience buying a home right now for some hapless Canadian buyers. Basically, this couple bought a pre-construction property in Whitby (a suburb of Toronto) last year and were shocked to learn that new people buying into the development right next to them were paying up to $90,000 less than they did. All in a matter of months. To come back a year later and see the same house that we bought is now $90,000 cheaper, that’s not cool,” Thompson, 52, said in an interview. ~What Did the […]

How To Get Your Money Out Of Your 401(k) Before 59 1/2

For some reason, I’ve been doing a string of tax articles lately that have been surprisingly well received, so I figured I’d keep going. Why ruin a good thing, right? 401(k)’s. They’re great aren’t they? They let you defer taxes on your income, giving you a tax refund, and anything you earn in them is tax-free! Only problem is, there’s a catch. Money inside your 401(k) is kinda like a raw pot roast. You can’t eat it right away. First you have to withdraw the money, just like you have to cook the pot roast before eating it. And like […]

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