Now that we have put up the Aluminum Pole (with no distracting tinsel), it is that time in Festivus for the Financial Airing of Grievances, and there have been a lot of things that got on my nerves this year, so listen closely, don’t make me repeat myself!
- Housing Bubbles, what is up with this stupidity ? What morons are getting into these bidding wars for tar paper shacks down by the lakeshore ? No one needs a house that badly! Learn some self-control, “I really want it” is a bad reason to overspend on a house.
- Fintech , taking the same bad investing concepts, implementing them on a computer using a little Artificial Intelligence (AI), and claiming you will get better results? C’mon man! Until someone explains to me (a programmer/geek) about what Fintech is doing for me, I am not drinking this Kool-Aid. Fintech almost seems like an excuse to hide more of the decision-making process from the end-user.
- Good Debt , if I hear another financial talking head say that there is such a thing as good debt I will be using the aluminum pole for something more than just Festivus. Debt is a financial tool ( a bad tool ), but it is not good. If you can’t afford something, maybe that is for a reason. Why can’t I have a house like my parents? Your parents lived through 20% inflation, you didn’t! Stop whining and live within your means.
- RRSP or TFSA , if you are losing sleep over this topic, but you are still carrying debt, you need to give your head a shake. Pay off your debt, then put money in your TFSA and then put money in your RRSP (or your kid’s RESP or RDSP), yes it is that simple. Pay off your debts.
- Adulting, seriously ? It’s hard being an adult, and no, nobody is going to spend a lot of time trying to train you either, you are going to learn by trial and error, and you are going to make mistakes. This is what being an adult is all about. Each generation learns this way, luckily you guys will do better than my generation, relax.
This year has sucked, let us hope that next year is a better year, or I am going to have a longer list for the financial airing of grievances for next Festivus !
Next, financial feats of strength! Let’s rumble!