In fact, it was the very first time where I felt that I was doing something right with The Financial Blogger and what kept me going was to get mentioned on his blog and to see the amount of traffic it had brought me. This is when I realized I could become a “real” blogger and make my site grow. Canadian Capitalist was literally the spark plug for my “blogger career”.

Unfortunately, there are some readers who complained both on Canadian Capitalist and on Four Pillars (where the author mentioned that he was supporting Ram). Readers claimed they were disappointed, that they thought Ram was an independent blogger, that they didn’t like the feel of having the aura of Money Sense around their (his?) blog. To those people, I have only one question to ask:

What is so wrong with making money?

I just don’t get it. When I started The Financial Blogger, I wrote it in plain black & white that while I was passionate about finance and while I want to improve my English writing skills, I was also there to make money. It has always been one of my goals over the past 3 years and I am not ashamed about it.

I run a few ads, I plug a few products (which I think are good) once in a while in order to help me reach a higher level of financial independence. I’ve always mentioned that I would never want TFB to become like a Nascar, but a few ads is the compromise I am willing to live with.

Blogging requires a lot of time

I think people sometimes underestimate the amount of time it requires to maintain a single blog. In my case, I wake up every morning at 5am, spend 30 minutes while having breakfast to look at stats, comments and emails. Then, I jump in the bus and write non stop for 45 minutes. During the day, I use my Blackberry to keep track of what is going on. After my day shift at the bank, I get back in the bus to write for another 45 minutes. Then, I come home and take another 30 minutes to clean-up my emails, check stats and comments.

I work at the bank 4 days a week and use fifth business day to work on my blog. I have subscribed to a few newsletters and money magazines to inspire me and I also spend time over the weekend to do ramblings or discuss with other bloggers.

I am not writing this to complain or in the hopes you pity me. I have made the decision to live like this and I enjoy it; Big Time! Having said that, you may try to appreciate that if you spend a minimum of 2 and a half hours  per day on something, you would definitely like to generate a few bucks out of it.

I know for a fact that Canadian Capitalist refused several advertising offers because he didn’t think they were a good fit with his blog. Today, I now trust his judgment while deciding to merge with Money Sense. I would have probably done the same in his position!

Final thoughts

I am truly honoured to be read by so many people and I am flabbergasted each time you comment on one of my articles (I actually wish for even more comments ). I am doing my best each day to provide quality and entertaining articles so you will come back and read my next article tomorrow. However, I think it is my right as a blogger to decide if I put in a few ads to make a couple of bucks from my passion.

So congrats on Canadian Capitalist for making a great business move!

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What is the difference between a Segregated fund and a Mutual fund?

Segregated funds (also called seg funds) are one of the strange beasts created by some crazy financial scientist in the labs of insurance companies. They are very similar to mutual funds when we look at their investment composites. If you look in your track investment apps you will see that there are seg funds for every kind of investor profile. However, when you call a life insurance investment services, they will explain the difference between segregated funds and mutual funds.

Segregated funds are held within a life insurance policy. This means that they are part of the policy paid to your beneficiaries if you decease.

Segregated funds usually come with a partial to full capital guarantee. The term to benefit from this guarantee is usually 10 years. After this period, your capital can be guaranteed at 75% to 100%.

Segregated funds: paying a high price for a small security

As you can see, Seg funds are quite similar to mutual funds. However, there are some major cons of buying them.

#1 Seg funds have higher MERs

Management ratios is one of the most important metrics you need to analyse when looking at an investment. If your fund has a 3% MERs, this means that you start January 1^st of every year with a yield of -3%. It can be hard for a fund manager to overcome this obstacle.

You won’t be surprised that segregated funds have the highest MERs in the  world funds. This can go from 0.25% to 1% more than a management fee on similar funds without the guarantee of capital.

#2 Does the segregated fund security of capital really worth it?

When you think about it, most balanced mutual funds are showing positive results over a 10 year period. And rarely you will see a fund returning only 75% of their value after 10 years. However, if you are doing selective and highly speculative trades (like buying techno funds in 1999), your guarantee can be worth something today. But if you follow an established asset allocation, you would never need this kind of guarantee over 10 years.

#3 Other segregated fund fees

You may think by buying an investment fund with MER fees 30% higher than others that you would be done with fees. Well, my friend, you may also end-up paying both front end and back end fees. While front end fees are usually waived by the advisor (who is looking for his commission after all ), the back end fees are usually in place (which guarantees the advisor a higher commission pay check at selling and trailer fees for at least 5 years. if you don’t want to pay fees to sell the fund).

Final thoughts on segregated funds

As you can see by now, I don’t really like seg funds . If you are really looking for capital security and still want to benefit from the market growth, I suggest you consider linked notes. You will still be paying a high price (in my opinion) for security but you will get a better return (if you take the time to buy the right one ).

Do you have seg funds in your portfolio? How are they doing? Do you like them?

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When I asked to work 4 days a week back in September, I was thinking about increasing quality time spend with my wife and children as well as increasing the time I spend on my online company (obviously). While I am not doing a 4 hour work week yet, I was still able to reduce my schedule to 4 work days a week .

I had read somewhere that working 4 days a week is not only good for the employee, but it is also good for the planet!

The state of Utah switched their 17,000 employees to a 40 hour work week over 4 days. This huge program was implemented to create:

#1 – better lifestyle for the employees

#2 – save on energy costs!

In fact, the energy bill of this state dropped by 13% in the following months. People are at work less often and therefore, consume less energy at work.

In addition to saving money, the 4 days a week schedule could reduce considerably the number of cars on the road, which means less traffic and less air pollution. It is estimated that Utah is saving 12,000 tons of greenhouse gases by reducing the traffic of 17,000 employees once a week. I am happy to see that quality of life and becoming green can fit together!

4 day work week has other benefits!

Over the past 6 months, I have become accustomed to working longer hours but less days. I have notice the following results:

-         I am bringing the same results as I used to.

-         I am making about the same number of appointments.

-         I waste less time chatting and surfing the web to distract me.

-         I am more focused at work and more productive.

-         I have more energy both at work than at home.

-         I am grateful to enjoy such great quality of life.

-         My income didn’t decrease much.

Basically, I only find positive points to say about the 4 day work week! The problem I guess is not all employers would permit it for now. But eventually, I am almost sure that employers will turn towards to this solution. They will eventually save money on energy while their employees will become more productive (since I take Wednesdays off, I don’t come to work tired as I never work more than 2 days in a row!).

The only issue I had at first was time management. While being at work less often, you must remain in total control of your stuff and plan ahead that you won’t be available in the middle of the week to finish something. After a month, I had overcome this issue and was in a much better position!

I realize that asking to work 4 days a week is not that easy for some of us. I was lucky enough to benefit from a family-quality of life program offered by my employer. I know that not everybody offers flexible schedules but I would say that it doesn’t hurt to ask!

Believe me, your quality of life will be improved significantly!

Image source: Blyzz

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When I was a kid, I loved to write. At school, I had won writing competitions. Not because I know my grammar or for the use of long and incomprehensible words but because of my creativity. I remember getting 100% for one of my compositions and then, after losing marks for grammar mistakes, ending up with 71%…

When I was a kid, I always wanted to write for a living. I thought it would be cool to sit down and start writing on a sheet of paper (didn’t have a cool laptop back then ). However, the capitalism part of me knew back then it was nearly impossible for me to live well from writing stories.

Especially because my mother-tongue is French, the book market is very small in Quebec and obviously saturated. Most writers barely make enough to keep writing their whole lives and the “stars” already own the market.

So, I decided to use my creativity elsewhere; I completed a bachelor degree in marketing . And now, while I still don’t live from my writing skills yet, I feel that my childhood dream could become a reality.

Last week, I announced that we were buying another blog and that we were finalizing the transaction. Well the whole deal is now done and we now are the happy owners of Green Panda Treehouse !

Buying another blog, what for? Do you really have something else to say about personal finance?

Why buy another PF blog? Simply because it is a niche, a business model that we know and we get to master. I do not pretend that I know how to manage PF blogs and make the most money out of it (there are tons of bloggers who are better at this than I ). Yet, I know enough about the market to evaluate a blog and tell if I can make money from it or not.

Since buying Gather Little by Little Continues to be a great success for us, we were quite happy to make another purchase in short order. We were able to do it because we are reinvesting most of our profits back into the business so we can pay off our debt and work on other projects sooner. If there is one piece of advice that I can give, it would be to reinvest as much money as possible at the beginning of your entrepreneurial adventure. This has been by far my best investment ever!

Why Green Panda?

What I really like about personal finance blogging is the great number of niche markets served. You can specialize in credit vehicles, investments, frugality, student personal finance, personal finance in general, etc. For each niche, there is so much litterature available  and are many more books to be written.

Green Panda is personal finance aimed at people in their 20s. When you are still in college or you have just graduated, you are about to enter the most important phase of your personal finance. You will learn everything about credit, investments, frugality, insurance, etc. This is where most people make their best or worst moves. While you can get burned by your credit card abuse, you can also make your best moves by saving and buying a rental property early.

At times The Financial Blogger talks about a little bit more advanced concepts, I felt it would be great to get back to basics and share my own personal experience from when I was younger. This is definitely a great niche!

Hey Wait! There is an iTouch Giveaway going on!

If you are interested in participating, just take a look at Green Panda Treehouse and sign-up for the giveaway! Entry ends on Thursday, March 18^th!

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I rarely refer to videos on this blog but this one is just the  epitome of my feelings towards the media. I suggest you go see it now and get back to my post afterwards:

Some Bull Sh$t is going on

What is the link between personal finance and this video? The Media are totally sick, always looking for something to say. They remind me of my 2 year old; on a daily basis during supper, while my older son is telling us what he did at the daycare, the little one is trying all the tricks in the world to get attention and the right to speak. Therefore, she says “Daddyyyyyy?”, she makes weird noises, taps on her dish or makes bubble with her milk. When she finally gets an annoyed look in her direction, she smiles and says something like “I’ve been to the daycare today”.

The Media act the same way: they make a huge deal on just about everything.  Offering coverage with experts, testimonials and projects on the rest just to get our attention. But in the end, they just don’t have much to say and the news is not that big.

It touches our personal finance in the sense that the  Media affects our beliefs as consumers, as investors and as homeowners (or should I say mortgage-tied-homeowners?).

Remember the 2008 economic crunch? They were telling us that it was the end of capitalism. Economists, financial analysts, finance gurus and all the other “experts” were shown on the big screen to tell us that we will be losing our job, that our economy was sick and that this time, it wasn’t a recession as usual. Did you Canadian Banks profit over the past 2 weeks? They all beat the market expectation except for RBC. Quite impressive for the supposedly post-capitalism era, isn’t?

Now we are moving to a different story for the past 6 months: the inevitable (huge) raise of interest rates. Since Australia moved up their daily interest rate back in Autumn 2009, we have heard, read and seen all those experts telling us that the wave will surely hit us in the face. They pull out housing boom graphs to show us how bad the housing bubble will burst in our face. Yet, so far, the Bank of Canada is still saying that they won’t touch the interest rate until June 2010 and while inflation is still under pretty good control, our dollar is getting stronger and stronger compared to the US dollar. Prime rate 4% at the end of the year anyone?

I’ve always wondered if the Media were creating or reporting on the crisis… 2008 economic crunch, H1N1 and now the interest rate in Canada… I’m curious to see who will be right this time

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2009-2010 income tax deadline: April 30^th 2010

Now that the RRSP season has ended as of March 1^st, it is time to gather all your paperwork to file your income tax report. When is the deadline? End of April! So you better get to work fast

Don’t wait until the deadline; this could be costly

The problem with income tax reporting is that nobody likes it (besides the accountants). And I guess this is how the Government makes so much money from us even though they offer many tax deductions and tax shelters. Most of us gather a few papers and quickly put them in an envelope for an accountant or we key it into tax filing software (remember my 2009 quicktax review?).

This is why you have to start gathering your stuff right away; in order to make sure you have everything and that you have gathered all the proof that will result in a tax credit or deduction.

Speaking of which; what is the difference between a tax credit and a tax deduction?

I guess that you thought they were synonyms, right? Well before you get to the income tax deadline, you better read the rest of this post:

Non-Refundable Tax Credit

A Non-refundable tax credit is an amount that reduces your taxes owed. Therefore, you won’t get money back if you have more tax credits than taxes owed.

The tax credit is calculated as followed: amount claimed x lowest federal rate (province will also give an additional tax credit depending on where you live). Therefore, if you have spent $500 in your children’s activity (maximum allowed as tax credit in 2009), you will get a tax credit of $500 * 15% = $75.

So the non-refundable tax credit is a good thing but will always be worth less than a tax deduction if you make a lot of money.

Among the most popular tax credits you can find:

-         tax credit for donation

-         tax credit on home renovation

-         child amount tax credit

But for all the non-refundable tax credits, I suggest you go visit TaxTips.ca non-refundable tax credit table.

Tax deduction

I really like the concept of tax deduction as you deduct the amount from your income. Which means that you are actually deducting taxes according to your marginal tax rate.

Therefore, if I take back my example with an amount of $500:

If you made an RRSP contribution of $500 and your marginal tax rate is 25% (on federal tax only), you will get $125 back. The great part is that considering most provinces, your combined (provincial and federal) marginal tax rate will be around 35%-40% if you are making over 50K. Then, your tax deduction could reach $200 at a 40% tax rate.

Here is a quick list of popular tax deductions:

-         RRSP contribution

-         Interest expenses

-         Child care expenses

Here’s is tax deduction quick list found at Taxtips.ca

As you can see, it is important to gather all your paperwork leading to your non-refundable tax credits and tax deductions before the income tax deadline of April 30^th 2010. This could save you a lot of money!

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“Hello Mike, nice to meet you, tell me, what are you doing in life?”

A)   I am me.

B)   I am a father.

C)   I am a passionate man who loves watching hockey, playing golf, blogging, play soccer with my son and making pony tails to my little girl, and.. and.. bla blab la…

D) I am a financial planner / web entrepreneur

I can tell that most people will answer “D”. So if we define ourselves according to our job, what do we become if we quit working?

75 is the new 55

I don’t know if you remember this advertising campaign by London Life but I really liked it!

Many baby boomers dreamed about freedom 55. However, now they have reached this age, they realize they are in a much better shape than their parents or grand parents, that they are at the peak of their career (or close to be) and…. That they still have a mortgage!

Not so long ago, reaching the age of 65 meant that you had not much longer to live. Therefore, retiring at 55 while you are still able to get into a plane to travel down south (forget about backpack trips ) seemed logical. Now, we know that most people will live till 80…85… and probably 90! My own 2 grandmothers are still alive and they are 88 et 89. The worst part is that they are “top shape”; one of them take the plane twice a year, the other one only takes half a pill per day.

Retiring at 55 brings a lot of problems

Funny enough, retiring so young can bring it loads of problems:

#1 Money

.

How can you finance 35 years of retirement if you have start working at 30 and start saving at 45 once the kids are old enough and that your mortgage payment is not struggling you to death anymore. Unless you have a bullet proof pension plan, you will need more than 1M$ in cash at 55 if you want to retire.

#2 Society disconnections

.

As I mentioned before, we all fine a great part of our life in our job. If we don’t have it, what will we become? Stats show that several young retirees go back to work or fall into a small depression 12 months after they left.

#3 Economic issues

.

Having to finance your own retirement is one thing, but the “system” still needs 55 years-old workers. Who will finance the Government pension? The healthcare system? Our schools? For one of the very first time on this blog (and in my life in general), I am talking about a left wing idea. But seriously, if we want our kids to grow in the great country that we know as Canada today, we better keep working and pay our taxes… sigh… it still feel awkward to see those words written by my fingers

#4 Too many people golfing!

.

Hey boomers! Think about us! If you all quit at 55, how can I be able to have a place on a golf court! You must stay at work while I can enjoy life

Your take: When do you want to retire?

As I mentioned previously, my goal is to end the rat race sooner than later, however I don’t think I will stop paying taxes and make money that early. But what about you? When do you want to retire? Do you think you will be able to retire at 55? 65? Or never?

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ASSETS:

DEBTS:

TOTAL NET WORTH: $111,813 (+3.1%)

Another month, another payment

While I don’t think I will be able keep up this pace, I was able to give my parents another $2,000 payments in February. We were able to withdraw money from our business so it didn’t hurt my budget too much. I am now down to $26,000 due in November 2010 (including upcoming interest). Since my current plan will lead me to have about $15,000 at this time, I am getting closer to my goal!

I don’t expect much growth in March

This month won’t be a big month in terms of net worth. My best friend is getting married at the beginning of April so a few expenses (wedding gifts, bachelor’s party, hotel room) are going to seriously hit my budget during the next 30 days. Oh well, we’ll try to work harder so it doesn’t show too much

But There Is Great News coming

As you can see, I do not update the value of my house nor my company shares from month to month. I personally think it is not fair to update it monthly as it is only a perception based on a few metrics. However, I know that both my house and company shares are secretly going up .

The housing market is really good in this beginning of the year in my neighbourhood and I feel that I will be able to grow the value of my house by at least 5% at the end of the year. This autumn, I am seriously considering having an appraisal done to refinance and get what I am missing to pay back my parents at that point.

As for my company shares, I had previously estimated a valuation of roughly 2 years of gross income. Since I own half of the company, this means 30K. However, if we keep the pace we are on right now, we should be able to reach the $50K mark in gross income (or more!) with our websites at the end of the year (yeah, yeah, I know, we are only at the beginning of March ). In this specific case, I will evaluate my shares twice a year (in June and December) in order to avoid an artificial boost for nothing. I will also base the valuation on the past 12 months and not forecasted income until the end of the year.

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-  Craig

- Norman

I’ll be contacting you by email and ship you over your free copy! For those who didn’t win, make sure to have a optimal way to fill your tax this year. If you don’t, QuickTax offer great software starting at $29.99.

Some good read for the weekend:

I have just finished my RRSP season. The official season ended on this Monday on March 1^st but the rest of the week was also hard since we had to take care of all the postponed meetings and tasks we couldn’t do during the last week. In a way, I really like this season of the year as I can have a good idea of what my bonus will be at this point. After 4 months done in my financial year, I have done about 100% of my numbers. Now it’s time to take some rest and get after the 200% mark!

Speaking of taking time off, I’ll take the weekend off so here are some great reads for this weekend:

Get China ETF stock picks @ Intelligent Speculator

How to start an online business @ Four Pillars

Note on 2010 Federal Budget @ Canadian Capitalist

Financial lessons learned from hiking @ Canadian Finance Blog

Co-signing for your child, a good idea? @ Million Dollar Journey

3 new dividend stocks in The Dividend Guy’s portfolio

How to make a budget @ Squawk Fox

Follow your passions to make money @ Studenomics

Technical analysis trading @ ABC’s of investing

Best MBA for your bucks @ Ending the rat race

Life and finance lessons from the Olympics @ Thicken my Wallet

Top 10 common tax filling mistakes @ Financial Highway

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Before I start with this morning’s article, I want to ask you to vote for me in the Free Money Finance March Madness contest. The best personal finance article will win the right to give $1,000 (generously provided by FMM) to a charity of your choice. I have selected a charity that helps children. Please comment on this post with the word “figures”. Thx a million!

The Prime Rate, or Prime Lending Rate, is a term used in many countries to describe an interest rate reference used by Central Banks. This key rate has been a major discussion for the past 6 months, as we realized that the sky is not falling and soon talk about economic growth and prosperity will dominate again. The prime rate is the starting point for all discussions involving mortgage rates (especially variable rates that are directly linked to prime). When discussing interest rates, we usually address debt management and how tough it would be if mortgage rates would climb to 6%+ again …

I don’t really like to play Nostradamus with regards to market trends or interest rates and I’ll show you why today. Recently, Bloomberg asked several economists their opinion on the Canadian Prime Rate and at where it would be at the end of 2010. You can see their predictions in the following table:

Out of 8 highly paid and hopefully knowledgeable economists, we notice predictions of a Canadian Prime Rate between 0.25% (no change) and 2.25% (an increase of 2.00% within one year… or should I say 10 months!) for an average prediction of 1.18%.

So my question is quite simple: how can someone predict no change and another (with the same level of knowledge/competence/tools of analysis) forecast a rate that is 9 times higher? I even read that some economists from Desjardins see the Prime Rate at 7% in 5 years… I guess I should call them to know which stocks will give me a 20% annualized return over the next 5 years. They probably have it written in their black book of prophecy This is why I spoke about Nostradamus!

So what is the point of this post if it’s not to predict the Prime Rate?

The point is to tell you that you will read a lot of apocalyptical scenarios about the interest rate going up since semsationalism sells. The very same people that were convinced that capitalism was dead 12 months ago will try to convince you that we are going to back to 12% interest rates as seen in the 80’s.

In fact, you will probably see a smooth increase in the interest rate as the economy gains its second wind. However, it won’t happen overnight

We still have a fragile economy, high unemployment rate (8.3%) and job creation doesn’t reflect reality as most of them are part time or under paid compared to the lost jobs. In addition to that, do I have to mention that the loonie is strong enough compared to the US dollar that we don’t really need interest rates to give it the final push to parity?

What if we see 10 years of near to zero economic growth as Japan experienced? Oh shoot…. That’s it! I am writing about another apocalyptic scenario on the other side… see how easy it is to predict the future based on rationale?

image source: Xurdle

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