Denali Northern Expenditure

Month: November 2016

Roth Ira TFSA Challenge

The Roth IRA… I mean TFSA Challenge

Today’s post comes from my blogger friend, Tawcan. He’s a fellow parent with two children. He’s also an all-around awesome and fascinating guy. In his spare time, he adventures outside, writes cookbooks, does some amazing photography, and blogs over at Tawcan on the journey to financial independence, dividend paying stocks, and living a good life. Tawcan also lives in Canada (our next door neighbor!) and he comes today with his Canadian perspective. Take it away Tawcan!

When Maggie asked me to write about the Roth IRA Challenge I thought she had lost her mind completely. In this hockey-playing-toque-wearing-polar-bear-riding-igloo-living-poutine-eating country that we call Canada, we don’t have anything called the Roth IRA. So I was confused why she wanted a Canadian to write about the Roth IRA Challenge. Did she think that Canada has become a part of the US? After chatting with Maggie a bit more, I realized that the challenge isn’t tied to Americans only. The challenge has more to do with… how do you save $5,500 or more each year so you can put that money toward a tax-free savings account?

Lucky for us Canadians, we have an account that is very similar to the Roth IRA. This account is called Tax Free Savings Account. Boy us Canadians sure are original when it comes to names eh?

October Plan Update

October 2016 Plan Update

Farewell October! This was a very exciting month because we got our PFD money! YAY money! But then immediately, a whole bunch of bills came in and we bought plane tickets. BOO money! I am choosing to be grateful that we were able to put the majority of the PFD money toward the mortgage. YAY paying off debt!

As for the Stock household updates… the girls took swimming lessons and Penny graduated! We got our first snowfall, which has now entirely melted (boo!). We dressed up as Harry Potter characters for Halloween, with Lui being Hagrid (he wins), Mr. T being Harry Potter, I was Prof. McGonagall, Penny was Hermione (my 80s crimper to the rescue for Hermione hair!) and Florin was Moaning Myrtle (though she did not want to wear a toilet seat around her neck as we suggested!).

The Numbers:

You guys… if you haven’t signed up for Personal Capital, I think you’re nuts! It’s free! I look forward each month to logging in and seeing all of my accounts in one place. It shows all of my credit card accounts, my mortgage, my investment accounts, analyzes my fees, and is very visually compelling. I mean, it’s a geeked-out way to see it all in one glance without spending too much time. Sign up here to help yours truly speed toward financial independence! It has cut down my end-of-the month reckoning significantly since I can see all my accounts together (with graphs!).

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