Comments on: Guest Post: Six Common Financial Mistakes http://blog.canadian-dream-free-at-45.com/2008/07/28/guest-post-six-common-financial-mistakes/ Wed, 08 Feb 2012 17:31:40 +0000 hourly 1 http://wordpress.org/?v=3.1 By: Frugal Canadian Living http://blog.canadian-dream-free-at-45.com/2008/07/28/guest-post-six-common-financial-mistakes/comment-page-1/#comment-6908 Frugal Canadian Living Tue, 29 Jul 2008 18:35:31 +0000 http://blog.canadian-dream-free-at-45.com/?p=483#comment-6908 While it might not make sense to cash out your RRSPs when you change jobs it does make sense to cash $20,000 for your new home buyers plan. While it might not make sense to cash out your RRSPs when you change jobs it does make sense to cash $20,000 for your new home buyers plan.

]]> By: Paul_Z http://blog.canadian-dream-free-at-45.com/2008/07/28/guest-post-six-common-financial-mistakes/comment-page-1/#comment-6896 Paul_Z Tue, 29 Jul 2008 14:00:07 +0000 http://blog.canadian-dream-free-at-45.com/?p=483#comment-6896 High interest checking account sounds good, but there are so many other factors to consider when choosing bank. Personally i almost never keep much money on my checking account, but i guess every penny counts. -p High interest checking account sounds good, but there are so many other factors to consider when choosing bank. Personally i almost never keep much money on my checking account, but i guess every penny counts.
-p

]]> By: Bob http://blog.canadian-dream-free-at-45.com/2008/07/28/guest-post-six-common-financial-mistakes/comment-page-1/#comment-6877 Bob Tue, 29 Jul 2008 02:17:39 +0000 http://blog.canadian-dream-free-at-45.com/?p=483#comment-6877 I'm sorry to say that #3 I have made that mistake twice. The 1st. was in 1988 when I cashed out $10,000 of Pepsico (PEP) and the 2nd. was in 1994 when I cahed out $6,000 at my job at that time. Going back to my first cash out in 1988 and doing the math for dividend reinvestment & stock splits was enough for me to start my own web site of companies that offer Direct Stock Putchase Plans (DSPP). At this time I have listed for free 180 companies that offer DSPP the people can get into. Some of the companies even pay your fees. Come visit at www.aplussrc.com the younger you are the more time your money will have to work for you. I’m sorry to say that #3 I have made that mistake twice. The 1st. was in 1988 when I cashed out $10,000 of Pepsico (PEP) and the 2nd. was in 1994 when I cahed out $6,000 at my job at that time.
Going back to my first cash out in 1988 and doing the math for dividend reinvestment & stock splits was enough for me to start my own web site of companies that offer Direct Stock Putchase Plans (DSPP).
At this time I have listed for free 180 companies that offer DSPP the people can get into. Some of the companies even pay your fees.
Come visit at http://www.aplussrc.com the younger you are the more time your money will have to work for you.

]]> By: Avoid 6 Common Financial Mistakes | HarvestingDollars http://blog.canadian-dream-free-at-45.com/2008/07/28/guest-post-six-common-financial-mistakes/comment-page-1/#comment-6860 Avoid 6 Common Financial Mistakes | HarvestingDollars Mon, 28 Jul 2008 17:09:25 +0000 http://blog.canadian-dream-free-at-45.com/?p=483#comment-6860 [...] submitted a guest post titled “Avoid 6 Common Financial Mistakes” over at Canadian Dream while he is on vacation. Please check it out! Rate this: 3.2 Share and [...] [...] submitted a guest post titled “Avoid 6 Common Financial Mistakes” over at Canadian Dream while he is on vacation. Please check it out! Rate this: 3.2 Share and [...]

]]> By: sundae1888 http://blog.canadian-dream-free-at-45.com/2008/07/28/guest-post-six-common-financial-mistakes/comment-page-1/#comment-6856 sundae1888 Mon, 28 Jul 2008 15:55:18 +0000 http://blog.canadian-dream-free-at-45.com/?p=483#comment-6856 #3 doesn't make sense for us Canadians. Even if you join your employer's group RRSP plan, the money stays as RRSP under your name even as you switch jobs. #3 doesn’t make sense for us Canadians. Even if you join your employer’s group RRSP plan, the money stays as RRSP under your name even as you switch jobs.

]]> By: Double http://blog.canadian-dream-free-at-45.com/2008/07/28/guest-post-six-common-financial-mistakes/comment-page-1/#comment-6853 Double Mon, 28 Jul 2008 14:37:12 +0000 http://blog.canadian-dream-free-at-45.com/?p=483#comment-6853 A financial mistake not on the list but one of many that could be added to the list is - when trading stocks, do not hang on to losers expecting that they will bounce back. You should have a stop loss for your account depending on the pain you can live with - 15% is a good stop loss figure. A financial mistake not on the list but one of many that could be added to the list is – when trading stocks, do not hang on to losers expecting that they will bounce back. You should have a stop loss for your account depending on the pain you can live with – 15% is a good stop loss figure.

]]> By: Traciatim http://blog.canadian-dream-free-at-45.com/2008/07/28/guest-post-six-common-financial-mistakes/comment-page-1/#comment-6851 Traciatim Mon, 28 Jul 2008 14:31:27 +0000 http://blog.canadian-dream-free-at-45.com/?p=483#comment-6851 I disagree with the recommendation to not buy life insurance on your kids. I believe that you should have around 1 years salary + funeral expenses on your kids so that in case they do die you will be able to have options of a nice funeral and taking some time off work to 'regroup'. I'm not talking 500K like a parent would have, but I wouldn't think 50K is out of the question. My reasoning is that no one can tell what the death of a loved one will do to a person. Maybe you want to take 3 months off of work and rent a cabin in the woods for some thinking time on what to do with your life . . . If you have no money since you just used your emergency fund for a funeral then you're stuck returning to work in rough shape and your performance will probably suffer. People will be understanding, but if your performance is hurting your company they won't let you drag them down. That could destroy a family. I disagree with the recommendation to not buy life insurance on your kids. I believe that you should have around 1 years salary + funeral expenses on your kids so that in case they do die you will be able to have options of a nice funeral and taking some time off work to ‘regroup’.

I’m not talking 500K like a parent would have, but I wouldn’t think 50K is out of the question.

My reasoning is that no one can tell what the death of a loved one will do to a person. Maybe you want to take 3 months off of work and rent a cabin in the woods for some thinking time on what to do with your life . . . If you have no money since you just used your emergency fund for a funeral then you’re stuck returning to work in rough shape and your performance will probably suffer. People will be understanding, but if your performance is hurting your company they won’t let you drag them down. That could destroy a family.

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