
Cash Cows, Pigs and Jackpots
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Inhalt
- CASH COWS, PIGS AND JACKPOTS: THE SIMPLEST PERSONAL FINANCE STRATEGY EVER
- Contents
- Acknowledgements
- Introduction
- Cash Is Not King
- Cash Flow Is King
- Who Gets Rich Off You
- It's Not Just Them, It's Us
- Want to Get Rich Quick?
- Back to Basics
- Chapter 1-The Cash Cow Strategy
- Cash Cows
- Cash Pigs
- Cash Jackpots
- This Is Not a Philosophy
- It's About Cash Flow
- Cows and Pigs Can Change
- One Person's Pig May Be Another Person's Cow
- Cash Cow, Pig or Jackpot?
- A House or Condo
- Gambling
- Personal Debt
- Defined Benefit (DB) Pension Plans
- Canada Pension Plan and Old Age Security
- Kids
- A Bigger View: Government Debt
- Why Don't People Follow This Basic Strategy?
- Chapter 2-Taking Care of Your Biggest Cash Cow
- Your Biggest Cash Cow Is . . .
- How to Protect Your Biggest Cash Cow
- Is Your Body Trying to Tell You Something?
- Are You Eating Well?
- How Much Exercise Do You Get?
- How Much Sleep Do You Get?
- The Value of Hard Work
- Summing up Healthy Living
- Chapter 3-Who Wants to Be a Millionaire?
- What Is "Rich"?
- Net Worth Is a Lousy Measure of Wealth
- Mixing Pre-Tax and After-Tax Amounts
- Ignores Cash Flow
- Many "Wealthy" People Are Living a Mirage
- Why I Don't Want to Win the Lottery
- Going Beyond the Numbers
- Does Money Buy Happiness?
- What Causes Happiness?
- "The Happy Movie"
- Happy for No Reason
- My Take on Happy
- My Secret to Life
- Million Dollar Wrap-up
- Chapter 4-The Trap: Why You Aren't Getting Rich and They Are
- How the Banks Make Money
- Plug the Cash Pig Leaks
- The Mutual Fund Fee Monster
- Borrowing to Get Rich: It Can Work, But Don't Bet on It
- The Wealth Effect Is the Enemy
- Sometimes People Are Their Own Worst Enemies
- Paul's Story
- Closing the Trap
- Chapter 5-The Dream of Home Ownership
- The Wealthy Barber Weighs In
- How Much Home Can You Afford?
- Rent Is Not a Four-Letter Word
- An Example-123 Any Street, Hometown
- 123 Any Street: The Assumptions
- Don't Forget the Closing Costs
- A Word About the Down Payment
- CMHC Changes
- The Key Points That Most People Miss
- The Opportunity Cost
- The Ongoing Cash Costs
- Consumer Debt Warning
- Compounding Confusion
- 123 Any Street: The TFSA Results
- 123 Any Street: The RRSP Results
- Playing with the Inputs
- Housing Prices Increases
- House Price
- Interest Rates
- Beware Those Trying to Sell You Something
- Beyond the Numbers
- Long-Term House Prices
- Repairs and Maintenance
- Renovations
- The End Game: Can You Sell?
- Conclusion
- Chapter 6-The Condominium Conundrum
- Condo Basics
- Definition of a Condominium
- The Legal Details
- Condominium Regulations
- The Fees
- Who Pays for What?
- Insurance
- Renting Out the Unit
- Condo Costs
- The Purchase Price
- The Monthly Costs
- Running the Numbers
- The Toronto Condo: Results
- Playing with the Inputs
- Further Analysis Required
- Buying a New Condominium
- Buying a Re-sale Condominium
- Condos: What Could Go Wrong?
- What You Can Do to Manage Condo Risk
- A Word about Rental Properties and Income Tax
- Condo Wrap-up
- Chapter 7-Inflation: Monster or Myth?
- What Is Inflation?
- The Consumer Price Index (CPI)
- How the CPI Is Calculated
- Historical CPI Rates
- Percentages versus Actual Cash Flow
- An Inflation Example
- Where Will Inflation Be in the Future?
- Deflation May Be the Bigger Monster
- Stagflation: The Two-Headed Beast
- Why the CPI Matters to You
- Chapter 8-Maximizing Your Canada Pension Plan
- CPP and OAS Overview
- CPP: The Basics
- CPP: The New Rules
- CPP Contribution Rate
- Is the CPP Plan Solid?
- The CPP Investment Board (CPPIB)
- The Chief Actuary of Canada
- Can We Count on the CPP?
- Is the Canada Pension Plan a Good Investment?
- How Is the Maximum CPP Pension Calculated?
- CPP and QPP Maximum Amounts
- How Will My CPP Pension Be Calculated?
- The Child-Rearing Provision
- Should I Elect to Start My CPP Early?
- Inflation Effect on the CPP Retirement Benefit
- The CPP Disability Benefits
- Summing Up the CPP
- Chapter 9-Can We Rely on the Old Age Security Cash Cow?
- The OAS Details
- Guaranteed Income Supplement
- OAS Clawback
- OAS and GIS Amounts
- The Proposed OAS Changes
- OAS Wrap-up
- Chapter 10-Cash Flow for Life
- What Are Your Cash Cows in Retirement?
- CPP and OAS
- RRSPs: How Big Does Yours Need to Be?
- RRIFs: The Details
- Annuities: The Details
- Cash Flow Finale
- Chapter 11-The Inheritance Jackpot
- The Great Wealth Transfer Is Going to Be Inefficient
- How to Talk to Your Parents About Death
- The Problem with Death
- Is There Tax on Death?
- Getting Ready: A Simple Checklist
- Conclusion
- Index
- About the Author
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