Reviews

We review books that deal with everything from financial independence topics to politics, and anything in between. We may sometimes stray into films and music if there is a “Findependence” angle.

Is Travel over-rated?

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65travelBy Jonathan Chevreau

The other day I ordered online a library book published in 2013, which I thought was entitled 65 Things to do When You Retire. But once it arrived and I started to leaf through the pages, I realized with some disappointment that this particular edition of what was evidently a series was dedicated solely to travel, as you can see in the prominently featured word in red on the cover image to the right.

Now I know travel is regarded as one of the bedrock activities of retirement, if not the holy grail itself — provided you’re physically and mentally healthy, financially equipped to bear the costs, and young enough to enjoy it.

A curmudgeon’s view: Travel is expensive and over-rated

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Extreme Early Retirement? I call it Extreme Early Findependence!

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Savings Thermometer Measuring Money Nestegg IncreaseBy Jonathan Chevreau

MoneySense.ca today is running my column on Extreme Early Retirement from the November issue. It looks at the phenomenon championed by super-frugal savers like Mr. Money Moustache and Jacob Lund Fisker of so-called Extreme Early Retirement.

The idea is to be self-sufficient, do without, live in a small home, eliminate frivolous purchases like cars or furniture and save like crazy for five or ten years: and we’re not talking the typical savings rates of 10 or 15% of a paycheque: more like 50% or more.

Frugality to a Fault?

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The 1,000 buck-a-month rule: You can retire sooner than you think

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wesmoss
wesmoss.com

By Jonathan Chevreau

Here’s a blog I wrote for MoneySense.ca before the Hub launched, housed in what it now terms the MoneySense Findependence Archives. It seemed to resonate so I’ve repurposed it here, adding the cover shot of the book from which it’s drawn: You Can Retire Sooner Than You Think.

It deals with an interesting rule of thumb that most retirees and would-be retirees would do well to adopt. Developed by U.S. financial planner Wes Moss, it’s called the 1,000-Bucks-a-Month Rule. It means that for every thousand dollars in monthly income you want in retirement, you need to have saved $240,000. Continue Reading…

When Life Bites You in the Wallet

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walletbiteWhen Life Bites You in the Wallet, published earlier this year, is an excellent personal finance primer on banking, credit, debt and insolvency, written by a former banker and a bankruptcy trustee.

The bankruptcy trustee, based in British Columbia, is  Blair Mantin. The other coauthor is Lee Anne Davies, who I got to know a bit when she worked in Toronto at the senior levels of a major Canadian bank. Lee Anne now lives in British Columbia.

However, in her new career as a health, aging and financial guru, Lee Anne pulls no punches about the wily ways of the industry that once employed her. Continue Reading…

Indexing guru Andrew Hallam’s three book recommendations

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mthands
Andrew Hallam

By Jonathan Chevreau

Indexing evangelist Andrew Hallam, also author of Millionaire Teacher, recommends “three good investment books you’ve probably never heard of”  in a column in the Globe & Mail.

As recounted in his own book, and columns in MoneySense and elsewhere, Hallam used to buy individual stocks until he realized the error of his ways and switched to indexing: and not just “core and explore” but 100% indexing. If you feel like following suit but don’t want to pick your own ETFs at a discount brokerage, check out Sandi Martin’s excellent piece on how to choose a robo-adviser, right here at the Hub. Continue Reading…