How much does it cost to employ smokers? No matter how you break it down, smoking costs money to the smokers, the government/insurance companies and their employers.
Every six months or so one of my co-workers ends up looking at the amount of people in the smoking pit and rants about how much money we waste paying people to smoke. Then he always ends up telling a story about a guy he used to work with at another company.
The story is about a guy who was approaching retirement. This guy wrote his superiors a letter on how over the course of his career he has seen many people take 5-minute smoke breaks X times a day. Apparently he calculated the amount of time these people took to smoke throughout the day and totaled it over his career. In his letter he mentioned his retirement and asked if he could take his smoking time now in one big chunk…seriously. Read more
4 New Mortgage rules in Canada are coming!
The newest one actually starts today! Sorry for not giving you a better heads up, but hopefully it’s not too late to let you know about the changes that are coming/here. There are currently 4 new mortgage rules that will be coming into effect over the next few months.
Many people maybe wondering why change the mortgage structure? Well, I don’t really know either, let’s look at a few facts about our economy. Canadian household debt to disposable income has risen to 165.3%. This is just slightly less than the all time high of 165.4% in late 2015. Meanwhile housing pricing are going nuts in Toronto, Vancouver, Victoria and Hamilton. All of those cities’ housing prices have seen double digit growth over the past year. Vancouver is seeing a 22% increase! But even with all that, mortgage rates are the lowest they’ve been in a long time. Just like the USA in 2008!…oh wait…I think I see the issue now.
In case anyone doesn’t remember 2008, here’s a graph of the S&P 500 for last half of the year. It was MUCH worse for a lot of smaller companies.
Where does the time go! Now we’re three quarters of the way done with 2016 and it seems like I haven’t done anything. So in true procrastination fashion, I’m jamming it all into this last half!
It seems like every year I jam all of my vacations in the last half of the year and try to rush and get my yearly goals done. I took two weekend trips this past quarter with my beauty of a girlfriend. The first one was for my sister and her fiance’s stag and doe party to farmland Ontario. The second was for our good friends and neighbor’s wedding back to my old stomping grounds of Halifax, Nova Scotia. Read more
Passive Income is the best income
Why is passive income the best income? Well first let’s break down what passive income is. Passive income is earnings derived from equity investments such as rental properties, dividends, enterprises, or limited partnerships that you are not directly involved with.
Basically you give someone money and they give you a small amount of money back for an indefinite amount of time. The time could be forever provided the equity in your investment doesn’t go to $0. Passive income can be derived from numerous sources, the majority of which are available to everyone with minimal efforts.
What are some common sources of passive income?
Passive income can come in many varieties. I’ll touch on a few of the most common ones Read more
5 Tips For Beginner Investors
Investing your money for the first time is a daunting task. Sure, it can sound pretty exciting; the idea of putting money away and watching it multiply over time would be appealing to anybody, and if you do everything right, that’s just what will happen. But to actually confront the strategies, challenges, and mental hurdles involved with setting up an investment portfolio is different than just imagining things going well. It takes a lot of diligent work, and to some extent there’s a leap of faith required.
But never fear. Millions before you have invested, and done so successfully. As a result there’s plenty of good advice out there for when you’re just getting started. What follows is by no means a comprehensive list, but these are five general tips that can help to get you in the proper mindset to approach your first investments. Read more
Downsides of being a landlord
One of the questions I get asked most often about being a landlord is What’s the downsides of being a landlord? While there are numerous upsides; 4 ways to make lots of money for starters. There are a few downsides as well. I’m actually only going to talk about one downside in this article as it recently had a perfect ending to it. This downside is terrible tenants.
I know there’s lots of ways to screen tenants and you could weed out the majority of potential crazies but occasionally you might take a chance on a young person with no references and get burnt.
How bad was this person?
Good question! First let me give a little bit of background on how my duplex is run. One of the major selling points for this building for me was the fact that it’s in my hometown, and my father owns the identical adjacent property. They were built together when the original owners built them. He’s owned his unit for almost a decade and has had no issues. He also helps to manage the duplex for me, I’ll post all of the ads and answer all of the emails but the in-person viewings are done by him and the screening of tenants.
Now on to the tenant…
Pokemon Go is the most popular thing in the world.
If you haven’t heard of Pokemon Go yet than you’re probably living under a rock. So if you’re living under a rock and don’t already know; Pokemon Go is quite possibly the biggest fad? Trend? Phenomenon? I’ve seen in my life time. Definitely one of the most visual ones. Ever since it was launched I’ve been seeing articles popping up everywhere online. Then when it was launched in Canada I couldn’t avoid it.
In the last week I’ve seen hundreds of people playing Pokemon Go at all hours of the day. Everyone has seen at least several news articles on it. Most of them are about a player that had something happen to them that happens to thousands of people each day. Now because the news can relate it to Pokemon Go it’s now a “story” or hoped to be a viral piece. Right now it seems like everyone is either playing it or trying to relate their product to it for the extra publicity they’re hoping to cash in on. I even saw a fire department put it to good use among many other great ads.
The biggest sports deal EVER?
I’m not sure how many of you would have heard by now as it was just announced on Monday last week but the biggest sports deal ever was officially confirmed after a few weeks of rumors in the industry. No it wasn’t the Taylor Hall trade or PK Subban trade, they’re pennies compared to this monster. The UFC, better known as the Ultimate Fighting Championship, was sold for a record sum of $4 BILLION dollars. Not bad for a 15 year run after a purchase price of $2 million back in 2001.
To put that into perspective, here are the top 5 most valuable sports franchises according to Forbes(caution, it’s a page per each franchise kind of list if you wanted to see the whole thing it’ll be a lot of clicking): Read more
Andddd here’s another one! The second quarter of 2016 is over and it seems like time is flying WAY faster than normal. There’s not a whole lot to talk about that happened in this quarter but there’s one major thing you may have heard of.
On May 3rd, my second home of Fort McMurray, Alberta was evacuated. Over the next few weeks 15% of the town was burned to the ground and the majority of the city had major smoke damage. I happened to be extremely lucky and wasn’t in town, was scheduled to fly back the morning of May 4th. Which is now starting to become a trend for me, avoiding major disasters by a day. In 2013 my other hometown of Calgary, Alberta had a major flood that caused billions in damages throughout the province only weeks before their biggest tourist attraction, The Calgary Stampede. Luckily, I wasn’t there for that either, flew out of town for 2 weeks the day before it happened and the evacuation order was lifted just before I got back. I’m like a disaster dodger and I really hope that trend doesn’t stop! Read more
Where does ISIS get its money? That doesn’t seem like a personal finance title at all!
Well you’d be almost right if that’s what you thought when you read the title of this article. Where does ISIS get its money is a topic that has been touched on by some news outlets and various pages across the internet. I recently listened to a podcast by Planet Money titled Auditing ISIS. At first when google play suggested it to me I thought maybe I wasn’t reading the title correctly, but it turns out at 31 years old I can actually read; writing is a bit more difficult, but that’s what this blog is for! Right? Read more