Jan 12: Best from the blogosphere
January 12, 2015
By Sheryl Smolkin
By now we have all taken the leap from the old year to the new, but during the transition, some of our favourite bloggers analyzed the year gone by and offered suggestions for the days and months ahead.
In 2014, Mark Seed at My Own Advisor made some financial predictions. In 2014 Financial Predictions Final Update he revisits these predictions as compared to how things actually played out. He forecasted that the Dow Jones Industrial Average would finish the year at 16,700 but in fact it rose to 17,823.07. He also suggested that the Canadian Dollar would end the year at $0.90 compared to the US Dollar but by December 31st it had dropped to $0.86. But he did correctly anticipate dividend increases from Fortis, Telus, Walmart and AT&T.
On Boomer and Echo, Robb Engen asks What Will It Take For You To Save More This Year? He suggests the 52-week money saving challenge that was all the rage in 2014. Save $1 in week one, $2 in week two, $3 in week three, and so on until you have about $1,400 saved by the end of the year. Or, increase the degree of difficulty and try to put away $10 in week one, $20 in week two, $30 in week three, and so on until you’ve saved nearly $14,000.
Adam on Modest Money offers 3 Reasons to Start Small with Online Investing. By starting small you can get comfortable with both your broker and the investment tools offered and also decrease your risk.
Retire Happy blogger Sarah Milton proposes boosting your financial fitness by creating a positive relationship with money, making good money management a habit and cutting yourself some slack.
And finally, as part of the Masters of Money series on Get Smarter about Money, Rob Carrick asks Dividend stocks for retirement income – can you handle it? A well-chosen portfolio of dividend stocks can reasonably be expected to give you a far more generous annual cost of living increase than even an indexed pension, while also delivering solid long-term capital gains. But the bottom line is that they are still equities and if the bottom falls out of the stock market it could take your investment portfolio with it.
Do you follow blogs with terrific ideas for saving money that haven’t been mentioned in our weekly “Best from the blogosphere?” Share the information with us on http://wp.me/P1YR2T-JR and your name will be entered in a quarterly draw for a gift card.Adam, AT&T, Boomer and Echo, Dow Jones Industrial Average, Fortis, Get Smarter about Money, Mark Seed, Modest Money, My Own Advisor, Retire Happy, Rob Carrick, Robb Engen, Sarah Milton, Sheryl Smolkin, Telus, WalMart
What would you trade for a good pension?
Gail Vaz-Oxlade: Achieve financial literacy on mymoneymychoices.com