Canadian Personal Finance News | September 2016

"Having said all of this, rebalancing is the sort of decision that you don’t want to overthink too much. You’ll never achieve perfect optimization. The first step in creating a good plan is letting go of any thoughts that you’ll be creating a perfect plan."

"we have embraced the idea of a meritocracy with few reservations, even treating it as virtuous. That can’t be right"

"Before CRM2, no one in Canada could tell you how much they paid in mutual fund fees. Apparently, after CRM2, this will continue to be the case"

"Measurement is sort of an evil genie: It grants your wishes, but it takes them just a bit too literally"

"Which makes it a really insidious sort of criticism because there is a nugget of truth in there. It would be better if bubbles never formed and blew up, but that’s too hard to avoid in practice"

"Intuition and nostalgia are enemies of your investment success"

"But as do-it-yourself investors, they have no clear road map for what should happen to their portfolios if they become incapacitated or predecease their partners. Would the spouse have a precise inventory of all of the couple's assets? Would he be aware of the strategies in place to keep the whole thing up and running? Where to go for cash? How much he can safely spend each year? Or whom to turn to for financial advice?"

"But neither life nor retirement spending choices require perfection to be rewarding. A dynamic spending strategy can help you negotiate the inevitable trade-offs between spending sustainability and stability, providing you with the financial and emotional resources for a comfortable retirement."

A guide for managing the insanely variable income and expenses that come from the operatic business. Includes a FREE planning spreadsheet for opera singers. (It works for sole proprietors and variable income earners, too!)

August''s list of the best Canadian personal finance news, articles, and blog posts from around the internet, expertly curated for interest and relevance.