I read about an interesting way to manage your sock collection on Larry MacDonald’s blog a while ago. He reviewed the book Early Retirement Extreme and learned that if you throw out all your socks and buy a whole bunch of identical socks, you can avoid the problem of having to match pairs of socks all the time. This week, I took the plunge and threw out all my socks and replaced them with 16 pairs of new socks. I didn’t throw out any good socks – I have waited until my sock collection was practically falling apart before doing this.
I’ll report on any findings.
On with the links
I did a guest post over at Million Dollar Journey about why low interest rates are a good thing. If you are unhappy with the interest rates in your high interest savings account, go over and read it.
Rob Carrick had a great article about retirement anxiety and all the bullsh*t that financial companies and advisors will feed you, in order to get you to buy more of their products.
Preet from Where Does All My Money Go wrote a good article about money coaches. I’ve done some research and although it’s buyer beware – they are good alternatives to financial advisors, especially if you need help with budgeting or reducing debt.
Boomer and Echo explains the difference between TFSA and non-registered accounts.
The Economist did a very interesting piece about Ireland making their creditors whole and is suffering. Meanwhile, Iceland let their creditors take a haircut and is doing fairly well. I really don’t understand why anyone would guarantee their debts if they can’t pay them.
The Writer’s Coin says that you can save money by cutting your cable. But, it’s all about convenience.
Beating the Index lays out his investment porfolio objectives for 2011.
Larry MacDonald discusses Generation X retirement savings.
Oblivious Investor explains what investment tracking error is and how it affects you.
Michael James takes a look at the TFSA vs RRSP debate and concludes that if you are a higher earner – the RRSP will be at least as good as a TFSA.
Canadian Capitalist calculated the 2010 asset class returns. Overall, the numbers were pretty good.
A few more links
- Does This Count As Market Timing?
- Congress Can’t Beat The Market, Even When It Cheats
- Debt: The Good, the Bad, and the Ugly
- Brace Yourself for $5-per-Gallon Gas
- A Resolution Worth Keeping: Find a new or better job – with today’s job market in the tank, if you’ve resolved to find a new or better job, you’ll need a strong game plan. Here are some ideas.
- How To Decide If A 0% Intro Interest Rate Credit Card Is Worth It … For You. Credit has become incredibly tight but there are still some good options for 0% balance transfers. Here’s how to decide if you should take the plunge.
- Can You Retire Now? Stop asking yourself this question and get your answer by checking out what Wealth Pilgrim has to say.
- Vagabonding 101: Everything You Need to Know to Travel the World
- Roth IRA Contribution Limits
- 10 Best Part Time Jobs with Benefits
- 2011 Home Improvement Tax Credits For Energy Efficient Products (Insulation, Windows, Heaters, Etc)
- 2011 Federal Income Tax Brackets
- Some Great Free Online Checking Accounts
- How to Create SMART Financial Goals Part I – Be Specific
- How to Recharacterize Your Roth IRA Conversion…and Why — 2010 was a big year for IRA conversion to Roth. However, some people might want to reverse the action — here are the why’s and how to recharacterize your Roth IRA conversion.
- 2011 IRA Contribution Limits for Traditional and Roth IRAs — It’s time to plan your retirement savings and the best time to start is now. Here’s information about how much you can contribute to Roth and Traditional IRAs, and how your income, filing status, and participation in your company’s retirement plan impact your ability to contribute.
Want to learn more about RESPs? Buy The Book:
The RESP Book: The Simple Guide to Registered Education Savings Plans
Everything you need to know about RESPs.