Margot Bai, author of "Spend Smarter, Save Bigger", made a guest post on Canadian Dream’s blog. I have read the free chapters on her book site and have added the book to my library reading list. Margot’s post makes some excellent points and she is an excellent writer.
When it comes to achieving early retirement, I agree with Margot, that ‘buyer beware applies to financial services’, and that we all "need to educate ourselves". I find that I am learning all the time.
On the subject of mutual funds I have a few additional comments. My mutual funds are not locked in, although there is a fee (~2 %?) if you sell them within the first 3 months. Also, not all mutual funds have high fees. I never buy mutual funds with front or rear charges.
The normal MER is about 2.5 % for "stock picker funds". In comparison, an index fund, one that can only be purchased "on-line" with TD Waterhouse, have an MER of only ~0.35 %. This lower MER is an important difference. It gives these index funds a 2 % edge over "stock picker funds" and other index funds... no matter what the market does.
You can find Margot's post at: http://canadian-dream-free-at-45.blogspot.com/index.html
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Hey Canadian Money!
Good to see another Canadian blog around! Best of luck! Stop by my blog sometime and say hello.
FT
Hello Recently Retired,
Thanks for checking out my book and sample chapters online - I'm glad you like what you saw. If you are interested in picking up a copy, please order from my website. Thanks for your support.
I dedicate several chapters to the topics of investing, financial advice and RRSPs in my book. You are absolutely right that there are plenty of great funds with no front or rear charges known as no-load funds. However, accessing these funds usually means investing without the help of a financial advisor. I think the savings are well worthwhile. :o)
Best of luck as you enjoy your early retirement!
RR,
Thanks for mentioning Margot's post on my blog. Just a minor point of blog etiquette. It's a good idea to link to an article when you refer to it.
In Blogger you just highlight the text you want to link and hit the link button (should be in the middle of your buttons when you write a new pots) and copy and paste in the articles web address.
Just so you know,
CD
Thanks for the encouragement everyone, and thanks to CD for pointing out the link button. I've edited the post to include a link to the CD blog. It's a nice feature and I will use it from now on.
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