Wednesday, April 18, 2007

Canadian Tour of Personal Finance Blogs – Reviews

Today I’m just going to review some of the posts that other bloggers have contributed to the tour. I honestly didn't have time to read everyones post so I'm only going to review the posts from blogs in my "Blog I Read" section.

Canadian Dream
He contributed a post entitled “How Much Do You Need to Retire”. His post begins with some sound advice by dispelling the notion that there is a magic percentage of your income that you’ll require in retirement. He then describes the method he would use to calculate how much income is actually required in retirement. He has a pretty extensive list of the costs and revenues that you should use (I won’t list them all here) to generate a rough idea of how much you should have in retirement. Part of the review process of the PF blog tour is to provide some constructive criticism but the only thing that I would suggest is that after the final retirement figure is calculated that it be increased by 10% to ensure that the retirees lifestyle is protected in case of unforeseen events ie- higher than expected inflation, unexpected expensive house repairs like a flood, you end up with 20 grandkids etc… I would just rather have a little too much than a little too little… A great post and I look forward to reading his next post where he’ll go over the numbers for his specific situation.

Investoid
Investoid went over the “save half, spend half” approach that he uses to balance investing for the future versus living for today. He goes over the technique and explains some of the benefits that it has for him and his family such as it “forces us to look at how much value we truly place on an item or experience”. Personally, my wife and I use an allowance system but I have no real criticism here...if it works for you and your family then do it...if not find something that does.

The Money Diva
She discusses how retirement planning can be divided into two stages, accumulation and declining. The Money Diva is quite proficient at the accumulation stage with a networth in excess of $600,000 however, she is admittedly less proficient at planning for the declining stage and has realized that “to retire, you need income. Net worth doesn’t pay the bills every month.” The post provides some food for thought for those contemplating retirement.

13 comments:

Tim Stobbs said...

MCM,

Thanks for the feedback. I was thinking about mentioning the "add 10%" idea, but I decided to push that off to a section in Friday's post as Monday's was getting a bit too long.

Ah the joys of balancing a week of really long posts.

CD

QUALITY STOCKS UNDER 5 DOLLARS said...

A very nice and really very good post thanks.

Anonymous said...

Magnificent beat ! I wish to apprentice while you amend your web site, how could i subscribe for a blog site?
The account helped me a applicable deal. I have been tiny bit
familiar of this your broadcast provided brilliant clear concept

My weblog: Dominos Voucher Codes

Anonymous said...

naturally like your web site however you need to check the spelling on several of
your posts. A number of them are rife with spelling issues and
I to find it very troublesome to inform the truth then again I'll definitely come again again.

Here is my homepage: Cheap Fashion Jewellery

Anonymous said...

naturally like your web site however you need to check the spelling on several of your posts.
A number of them are rife with spelling issues and I
to find it very troublesome to inform the truth then again I'll definitely come again again.

Also visit my web-site: Cheap Fashion Jewellery

Anonymous said...

Your mode of telling the whole thing in this post is genuinely pleasant, all be able to easily be aware of it, Thanks a
lot.

My web blog; Care Home monitoring

Anonymous said...

Hi there! Would you mind if I share your blog with
my zynga group? There's a lot of people that I think would really enjoy your content. Please let me know. Thank you

Look at my web site - Tax accountant Salary

Anonymous said...

Touche. Solid arguments. Keep up the great spirit.



Also visit my web site :: Fashion Jewellery Uk

Anonymous said...

Howdy! This is kind of off topic but I need some guidance from an
established blog. Is it difficult to set up your
own blog? I'm not very techincal but I can figure things out pretty quick. I'm thinking about setting up my own but I'm not sure where to begin. Do you have any tips or suggestions? Appreciate it

Feel free to surf to my blog post ... English tuition oxford

Anonymous said...

Remarkable! Its truly remarkable post, I have got much clear idea regarding from this post.


Look into my blog post :: Insurance For Cars

Anonymous said...

I am regular reader, how are you everybody? This piece of writing posted at this web site is really good.


my homepage :: Care home Consultant

Anonymous said...

Hello there, I do believe your web site could be having browser compatibility issues.
Whenever I look at your blog in Safari, it looks fine however, if opening in I.

E., it has some overlapping issues. I simply wanted to provide you
with a quick heads up! Other than that, wonderful website!


Look at my web-site voucher Codes

Anonymous said...

What's up to every body, it's my first visit
of this blog; this web site consists of remarkable and genuinely good material in support of readers.


Feel free to surf to my homepage ... howtosetupawebsiteeasily.info