We all pretty much know about these. How about taking a year off work and using your rsps to have a long mid life trip?
What about if you die prematurely and all your rsps gets cashed in on the same year? 50% to the government! Hmmm... Something to think about!
Thursday, February 4, 2010
Tuesday, February 2, 2010
The Financial Stylist - Collectables
How about painting collections, etc? Well, the problem is finding a buyer who thinks that they are worth what you think they are. Collectables are not always a liquid type of investment.
Monday, February 1, 2010
The Financial Stylist - Mentoring
Finding a mentor who can save you a lot of grief based on their knowledge is a very good thing!
Sunday, January 31, 2010
The Financial Stylist - Credit Cards
There is a way to use your credit card to give you free use of your spending money. Shhhhh... That one is a secret and one day when i put it on video, i will share that knowledge.
Basically, find a credit card that has no annual fee and offers you bonuses to use it. Always pay it off at the end of the month. Once i was buying a big ticket item and called the credit card company to put my BIG purchase on the card and asked them to skyrocket my credit limit for just one month! I was after the big bonus of points that i would get! It worked! They did it! I used my credit card once to buy a new car, but they only allowed so much of the ticket price that could go on a credit card.
Basically, find a credit card that has no annual fee and offers you bonuses to use it. Always pay it off at the end of the month. Once i was buying a big ticket item and called the credit card company to put my BIG purchase on the card and asked them to skyrocket my credit limit for just one month! I was after the big bonus of points that i would get! It worked! They did it! I used my credit card once to buy a new car, but they only allowed so much of the ticket price that could go on a credit card.
Saturday, January 30, 2010
The Financial Stylist - Investment Clubs
An investment club is a great way to get started investing in stocks. Pool you resources together and invest in many stocks. I was part of three of them before i went solo and used the techniques that i had learned from the clubs as to which strategies worked the best.
Friday, January 29, 2010
The Financial Stylist - Quote
"If you don't know where you are going, any road will take you there!" So true! A man with a plan is something that you want to be unless you are a woman with a plan of course!
Thursday, January 28, 2010
The Financial Stylist - Debt Stacking
If you find yourself in debt, you get rid of your smaller bills and then use that free money to put against the larger amounts. Try to get the greatest interest rate bills first since they are working against your efforts the most.
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