All posts by Jonathan Chevreau

Call for Contributors

We’ve heard from several individuals about writing for the Hub and yes, we welcome contributions. Some guest blogs will be going up in the next week or so. Since this site does not charge at this point, we aren’t yet in a position to pay contributors but we are happy to provide what exposure we can. Contributors are welcome to include links where appropriate and of course can end each piece with a short italic description of who they are and how they can be reached.

Because the Hub aims to be a North American portal on financial independence, we welcome contributions from knowledgeable good writers from both the United States and Canada. Remember that the book Findependence Day (which began this whole adventure in 2008) is available in both American and Canadian editions. So are the two new e-books.

The standard length for blogs is often said to be between 400 and 600 words but there’s also evidence that lengthier meatier pieces can get good play and pick-up. Really, it’s a balance between having enough space to be substantial, while recognizing that in this time-starved hectic world we live in, most people have the attention spans of the proverbial gnat. If you run out of steam at 350 words, so be it. And if you need 750 or 900 words to say what you want to say, then go for it.

The longer the piece, the more you need to include subheads and at least a photo or image of some sort. I will act as editor to the extent necessary.

Try to target our six major categories

What topics? Scan the second (gray)  bar on the home page to see what we’re focusing on. If you want to reach younger Gen X and Gen Y readers, then Debt & Frugality is the place to target. The category of Wealth Accumulation is very broad and can include anything from asset allocation to pensions to ETFs to robo-advisers (we just put up an item on the latter).

Further along the continuum of Financial Independence, there is the Decumulation section, which is all about drawing down on wealth instead of building it up. And the Longevity & Aging section is a key focus of the Hub because of our belief that the baby boomers and their children are going to be on this planet a very long time on average, assuming they take care of themselves. See the links in this section to the blogs of Change Rangers’ Mark Venning and Agenomics’ Lee Anne Davies.

The Business Ownership category is another important niche. We considered calling this one Boomerpreneurs because so many baby boomers are leaving corporate employment (voluntarily or otherwise) and going out on their own as consultants, freelancers, franchise owners or building entire new businesses from scratch. But of course Entrepreneurship is hardly restricted to the boomers. Most of us stayed in the corporate womb for far too long and might better have embarked on the entrepreneurial path much earlier. Those wishing to pursue “Multiple Streams of Income” (from the Internet or otherwise) may well be building businesses at younger ages, either on top of a full time job or taking the leap direct from college or some starter job that they chuck.

The category of Politics and Economics is very broad. See the initial post there to get a flavour for that. We believe the further you have travelled along the road to Findependence, the more you need to pay attention to geopolitics and macroeconomics. Those interested in this area will find plenty of scope here.

Reviews

The Reviews tab refers chiefly to book reviews, most of which should touch on financial independence in some fashion. As above though, this can include many genres of books: everything from history to biography to entrepreneurship and the Internet. Any book that addresses our main categories will be fair game. And if you’re the author of a book yourself, perhaps a self-published e-book? (we know all about that!). Drop us a line anyway and we can discuss it.

This doesn’t have to be restricted to books. If you love the latest album on iTunes or think a movie is wonderful and want to share it with the world, then give us a try. Of course, we’d be more inclined to run it if it touches in some way on Findependence: a film like The Wolf of Wall Street.

A word on the forums

Another place we’re looking for content is the discussion forums. We have five forums planned to start with and they take a demographic/ages-and-stages approach to the key steps in reaching Financial Independence. Once we have a bit of two-way to and fro between contributors, this may be the place to develop story ideas, ask questions, post links and even subtly promote your business or product, if done in a way that readers are presented with valuable content. They will be moderated but having gone through a long experience with the Wealthy Boomer forums in the past, I think we’ll be able to spot the difference between blatant sales pitches and valuable sharing!

It will be awhile before the forums reach “critical mass.”  That’s beyond our control and up to the community. In the meantime, we’re happy to provide the infrastructure.

How to reach Jonathan

First,  try jonathan@findependenceday. If I don’t respond quickly it might be that our email system is experiencing a hiccough during this transition between sites. If so, send a DM (Direct Message) to @jonchevreau at Twitter but be sure to @me as well to tell me to check the DM.  Like many Twitter users, I can’t be relied upon to monitor DMs unless I’m flagged via the @function.  Those who have my actual email are welcome to use it as well: I just don’t want to put it up on the web just yet because of all the spam it may create.

 

 

Putting robo-advisers to the test

Good piece by my former colleague and hockey teammate David Pett in the weekend’s Financial Post. David is a real double threat: a great business writer and a fabulous hockey player.  He asked four recent “robo-adviser” startups to provide portfolios for in the one case, young professionals, and in the other, a retiree. He concluded their recommendations are “anything but mechanical.”

Here’s his piece.

Is 3% the new 4%? Bengen rule of thumb questioned

For the longest time, Robert Bengen’s 4% annual withdrawal rule (plus an inflation adjustment) was the gold standard for simplicity in estimating SAFEMAX: a safe annual maximum withdrawal rate  from retirement nest eggs that minimizes the odds of having to break sharply into principal at too fast a rate, thereby leaving little or nothing in advanced old age.

Of late, there’s been a lot of articles questioning this rule. Actually, it’s been going on for awhile.  The following piece from Investment News goes back to early 2012. You may have to register to read the full piece but it’s free once you enter your email and probably worthwhile to bookmark them anyway. And you might want to do the same here at the Financial Independence Hub too!  — JC

Here’s the article.

P.S. This would be a good topic for our forums, which we hope to have up and running this week. Stay tuned!

Retirement planning for an even longer life

Good piece in USA Today this weekend by Robert Powell. He notes we now have to add another two years of life to our retirement calculations: the average American 65-year old man can now expect to live to 88.8 years, up from 86.4 in 2000, according to the Society of Actuaries. Similar trends apply to women.

This means that instead of saving for enough to last 21.4 years in retirement, a nest egg has to last at least 23.8 years: perhaps another $100,000 of savings will be needed, Powell suggests.

Or you could do what the Findependence philosophy advocates and just keep working a bit longer, or supplement retirement income sources with some part-time work.

Check out ChangeRangers.com and the Agenomics blogs below

We’ve blogged on this theme before, as has Mark Venning of ChangeRangers.com, whose blog we feature in this Longevity & Aging section of the Hub. Venning has long argued that we need to be planning not for retirement, but for longevity. The other featured blog is Agenomics.ca by Lee-Anne Davies. To find them, click here to get to the Longevity & Aging section of the Hub, then scroll down below this article and another.

Get out of debt in your 20s or 30s, but get serious about Wealth accumulation by 40s

This is the theme of my Personal Finance column in this weekend’s Financial Post: page FP9 for those with a dead-tree edition. Asked when you need to get serious about saving and investing towards retirement, I make the case for first getting out of debt. As one character says in Findependence Day, “You can’t climb the tower of wealth while you’re still mired in the basement of debt.”

This means paying off high-interest credit-card debt and maybe student loans before worrying about stocks, bonds and ETFs. The sooner you do, the sooner you get a TFSA. Once you’re in a higher tax bracket, add the RRSP. And if you’re not serious about all this by your mid 40s, be prepared to work a long, long time and/or have a simple enough lifestyle that by the time you turn 67 and qualify for government benefits (Social Security in the US, CPP/OAS/GIS in Canada) you will be accustomed to living on a modest income.

Here’s the full article.