The Friday Feast ~ the 18th of November

23 thoughts on “The Friday Feast ~ the 18th of November”

  1. The Rockstar Forum has been a lot of fun. It’s been a great way to meet and get to know other bloggers, not to mention all the great posts about personal finance. I hope J$ agrees that it’s been a success because it looks like it has enough activity to be around for awhile.

  2. Thanks for the post! I agree with Retirement Savvy that net worth CAN BE a meaning measure. If too much of your net worth is in your primary residence, then it could be misleading. However I think net worth is a better measure than income on how well someone is doing financially. You could be make $250,000 a year but succumbing to lifestyle inflation and thus spending $250,000 a year. On the outside, it would look like you’re doing great. But this person is worse off than someone making $75,000 a year who has build their net worth up to $500,000 by living below their means and saving and investing wisely.

    1. I absolutely agree that net worth is better than income as a measure of financial health. As you note, it’s easy to get caught up in lifestyle creep and not build a solid financial foundation even with a significant income. It’s easy to imagine that an individual making $50,000 can have a greater net worth, or even more importantly, investable assets, than someone making twice as much.

      However, I don’t believe net worth is a good measure for retirement preparedness. Ultimately, what matters in retirement are expenses, sources of passive income, sources of portfolio income and the tax treatment of each source of income.

  3. Love the idea/concept of you doing videos! I don’t blog or have a blog, but as I get closer to having enough to ‘choose’ – I may start donating my time to the range (family) of bloggers I’ve been reading over the years…

    Thanks! keep’m comin!

  4. First off, thanks so much for the shout-out on this edition of Friday Feast, very grateful.

    Now on to the meat and potatoes of this post, the Frank Financials video. I love that you are providing a relaxed “frank” discussion with your followers on paying attention to the simple things that can get their finances on track.

    I think the videos will be a great addition to your website and probably your followers favourite thing to look forward to, I know I will.

    As to watching my spending I check in at MINT every single day and on the iPhone app. As for Personal Capital, it would be nice if it was available to Canadians but unfortunately not at this point. I don’t use spreadsheets right now but if I every find my tracking slipping I think I would look at starting using them.

    Thanks for sharing

    1. You are very welcome, Chris! Also, I didn’t realize that Personal Capital wasn’t available to Canadians. That’s no bueno, but good to know for future reference. Thanks for your comment!

  5. I often thought about using Personal Capital, but I can’t get past giving them all my account passwords. As I understand it, if you provide your passwords, financial institutions are not responsible for hackers and data breaches. Isn’t this a little risky?

    I love the video addition to the blog! 🙂

    1. I can understand your concern regarding privacy. I suppose that is a risk that we are willing to take – it’s true that fraud happens, but banks and credit cards have incredibly sophisticated systems to prevent (and reverse) fraud. It happens, but not nearly enough for us to be all that concerned with it. For now, at least, the visibility that we get into our financial standing is well worth the risk.

  6. Loving these videos, thanks for putting them together and 100% agree on the importance of tracking a spending plan!

    Awesome resources shared here as well, appreciate your contribution Steve 🙂

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