Archive for January, 2012

Welcome to  2012 !

Well its that time again , the resolution time. How many of us will make and break the same old plans for the coming year ?    That’s  the trouble with the same old plans  we actually set our selves up for failure.  Lets try something different this year , lets think differently. Easier said than done right!

It all starts with education  or financial literacy as I call it.  I am a big fan of reading , anything  everything.

One of my latest is  The Wealthy Barber Returns. I actually liked this one better than the original Wealthy Barber.  The return is more like a conversation with David Chilton.  As the front of the book says  Significantly older, marginally wiser  Chilton’s  book covers his insights into saving, spending and borrowing as well as some of his personal reflections on personal finance.  The  dilemma  of  pay down mortgage , RRSP versus TFSA, leverage, estate planning  and the insurance explanation are all covered  from his unique perspective.  What I loved best of all were the life lessons contained in the text , yes life lessons.  Be greatfull, do not covent, start early ,save  and my favorite  beware the credit card .  For those of us struggling with personal finance ( or even those who don’t)  this is a hand book of what to do and why. 

Another highly recommended book for finance that more of us  will need in the future is  50 Biggest  Estate  Planning Mistakes and how to avoid them by Jean Blacklock and Sarah Kruger.  The demographics of today suggest  that in the future many of us will be dealing either with our parents  estates or  thinking about our own.  Who do you want your hard earned dollars to go to when you are done with them? 

I am a big fan also of David Bach. The Automatic Millionarie  and his  Finish Rich series are well written and easy read. Simple and doable  David’s program can put anyone  on the path to financial success.

Soon enough it will be tax time as well.  101 Tax Secrets for Canadians by tax expert Tim Cestnick is updated every two years and is actually a readable text on tax.   Your Family’s Money  by Jerry White and Tim Cestnick  provides advice on budgeting, investment , insurance and tax planning strategies.

One of the books that really changed my thinking on money was by millionaire Robert Kiyosaki. Rich Dad Poor Dad is the story of Robert’s financial upbringing by two very different mentors. His own educated but poor Dad and  the father of a friend  successful and rich.  Definitely  from an American  perspective  Robert’s insights into how money works are a game changer for those looking to control their financial future.  He as well is all about improving your financial intelligence as he calls it. His recommended reading list includes  The Warren Buffet Way by Robert Hagstrom,  Trump.The  Art of the Deal by Donald Trump  and Beating the Street by Peter Lynch

For more Canadian insights  check out these blogs ; Squawkfox.com, CanadianCapitalist.com, WhereDoesAllMyMoneyGo.com , CanadianCapitalist.com/author/larrymacdonald

 Funny how leadership is more about changing  yourself than the people around you. To help with the thinking part  I also read a lot of personal development books . I recently finished Resolved, 13 resolutions for LIFE, by Orrin Woodward.  Orrin is one of the top 20 leadership gurus in the world and the author of many leadership  or personal development books. 

Thats my resolution for the new year   even more reading !