LinkStuff – Black Sock Purge Edition

by Mike Holman

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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

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{ 11 comments… read them below or add one }

1 Michael James

Good luck with your sock experiment :-) Thanks for the mention.

2 Echo

Thanks very much for the link Mike.

3 Rachelle

I refuse to wear girlie socks. All my socks are of the white sock variety. If someone’s close enough to my feet to tell that my white socks don’t quite match, I’ll just kick them so they forget my socky secret!

4 twentysomethingmoney

I read your post on milliondollarjourney, and thought it was great. Thanks for sharing!

5 JP

I have been on a black sock diet for several years now. It works for me and is easy. Good Luck! I need to read that Derek Foster article. He and people discussing him on the net is what got me reading most of these blogs.

6 larry macdonald

Nike
Thanks for the links. I’ve let my own blog roundup lapse in recent weeks due to a heavy workload. Hope to get back to it soon.

7 Canadian Capitalist

Thanks for the mention. I’m going to try the same colour socks on the kids. Should save me a whole bunch of time in the morning.

8 BeatingTheIndex

Thanks for the mention Mike. The socks idea works perfectly in a environment where the thickness is adequate for all seasons, not in Canada :)

9 My Own Advisor

Thanks for the mention Mike! Have a great weekend. I’ll check out your guest post.

10 Carlos

Thanks for the link! Checking out your baby expenses tab…gulp!

11 Leslie

I did this with my kids 35 years ago; 20 pairs of identical socks (different colour for each kid). It was mostly done to address the washing machine swallowing them, but was also helpful when one sock got worn through.

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