If you had only 6 books to read

If you had only 6 books to read, you should read:

• The Flinch -> how to reprogram yourself related to fear
• The decision book: 50 models of strategic thinking -> It is all about choices and decisions
• Abundance -> The future is better than you thing (from scarcity to abundance management)
• The 4 hours works week -> how to take control of your life (manage transition)
• Conspiracy of the rich -> understand money
• Cashflow quandrant -> How to make transition from Employee to Business

** to read faster, use getabstract.com (summary of books)

Main difference between French and French-Canadian

Most people who move to Montreal ask this question:What's the main difference between Quebec people and Anglo-Saxon?). 

I am born in France and move to QC when I was nine and was shocked to see how different french speaking were from anglo-saxon quebecers when I started working. The aim here is to help French people to better understand Quebec society if they migrate, the main goal of this blog http://fr2qc.blogspot.ca/. 

My take is related to their core value system (learn it from reading on anthropology):

• French think/are brainwash and think the society enforce equality (same chances + always there to help with a social security net) so even if you are lazy the society will take care of you. 
• English think/understand the world is in-equal and if you don't fight/work there is no limit how down you can get

This core/deep value has a massive impact on people behavior. I personally think inequality is a better model in trouble times but equality illusion lead people to be more free/more creative + able to take more risk which is why mixing the 2 culture is so powerful. 

Of course adding Catholic church of top didn't help at all (money = devil). 

At least, the affordable education system is a gift to Qc society in the long run. 

Real estate investment: Canada or US?

As mentioned here, the 3 biggest factor of real-estate value are: Location, Employment and Population.

If we factor in real-estate bubble, currency, interest rate risk it is safer to invest in the US.

Factor	Weight
Location	60.00%
Employment	20.00%
Population	20.00%
Location		Quebec (Can)	Main (US)
current valuation (revenue)	20.00%	1.35	1
currency valuation	25.00%	1.35	0.9
Foreign investment	10.00%	0.85	0.75
Interest rate risk	15.00%	1.4	0.9
Crash risk	15.00%	1.35	0.9
Life quality	15.00%	0.8	1.25
SUM	100.00%	1.225	0.9575
Employment
Education access	20.00%	0.65	1
Population education level	20.00%	0.75	1
Life quality	10.00%	0.8	1
Job market	50%	0.75	0.9
SUM	100.00%	0.735	0.95
Population
Population demography	50.00%	1.5	1
Immigraton	50.00%	0.75	0.75
SUM	100.00%	1.125	0.875
	Quebec (Can)	Main (US)
Score	1.107	0.9395

How to replace your cable bill by a house cleaner?

Since a couple of years, I want to get ride of the cable because the cost doesn't justify its usage but my wife still want to listen sometimes to traditional TV. I made a deal with her. I have exchanged the cable bills to a maid and air HDTV. I have invested CAN$163 to buy the material required to set-up a digital antenna and 4 hours to install it. It will take me only 4 months to recover my investment and then my saving will paid 50% of my maid bill per months. What do you need to buy to do the same? (special thanks the Steph)

You can get everything on amazon.

#1) Buy online the required material

1. RCA Dual Coax Wall Plate RG 6/RG 59 - White (home depot or amazon) CAN$ 6.93
2. RG6 Quad Shield Coaxial Cable  Sold by SaveOnMany (amazon)  CDN$ 24.07
3. RCA outdoor antenna preamplifier Sold by Amazon.com.ca, Inc. CAN$ 44.29
4. RCA Outdoor Antenna Optimized for Digital Reception  Sold by Amazon CAN$ 88.59

Total = $CAN 163.88

1)2)3)4)

#2) Install it

Final setup looks like this:

#3) Adjust it

Don't forget to adjust your antenna to get optimal reception -> Antenna angle ajustment. 

Million Dollar Journey blog

IF you are looking for great advices on how to "Building Wealth through Saving and Investing" you should look also at this blog http://www.milliondollarjourney.com/

I you don't have a pension back by tax payers, you have certainly notice the growing generation gap.
Knowing that the baby boomers are outnumbering us in number and cash, we should expect a clash at one point but by the time you need to financially educate yourself before the tsunami starts. Don't get trap in the red rat race to pay for other generation mistakes.

How to make your mortgage interest tax free in Canada

Deer high tax payer lovers,

As you might know, in the US, your house interest payments are tax free.

Unfortunately, rules aren't the same in Canada but.....you can do a double swap to make it tax free.

How? If you have investments outside your RSP :

• withdraw it and pay your mortgage
• then borrow back to money secured by a mortgage and put back the money in our investment portfolio

Revenue Canada says that all the interest you pay on money you borrowed to make an investments in tax deductible.

Isn't that wonderful?

Not sure you get it?

Basically, if you have non RSP investments and a mortgage you should pay your mortgage with your investments and reinvest from your line of credit. Bottom line, you still have the same amount of dept but your interest are tax-free. So, isn't that wonderful? Check the glob and mail article refer bellow. 

Reference: 

P49:  http://nownetworkjointventures.com/wp-content/uploads/2013/12/10-Secrets-CRA.pdf

Warnings:

• Make certain that the new mortgage was needed by the bank to secure your loan to buy investments
• Do not purchase the exact same investments you held prior to paying your mortgage. You should purchase new investments. 

More information: 

• Glob and mail: The Smith Manoeuvre: A Canadian mortgage tax-deductible plan (Published Tuesday, Sep. 03 2013, 6:00 AM EDT)
• My own advisor: Should I implement the Smith Manoeuvre?
• Line 221 - Carrying charges and interest expenses
• fees to have someone complete your return, but only if:
  • you have income from a business or property;
  • accounting is a usual part of the operations of your business or property; and
  • you did not use the amounts claimed to reduce the business or property income you reported (see Interpretation Bulletin IT-99, Legal and Accounting Fees);
• most interest you pay on money you borrow for investment purposes, but generally only if you use it to try to earn investment income, including interest and dividends. However, if the only earnings your investment can produce are capital gains, you cannot claim the interest you paid. For more information, contact us;

reading to financial freedom

• Why Financial education? read Rich dad's conspiracy of the rich:the 8 new rules of money
• How to Increase your Financial education? read Rich Dad's Increase your financial IQ: get smarter with your money
• How to better understand the 4 quadrants (Employee, Self-employed, Investor, Business)? read Rich Dad's CASHFLOW Quadrant: Rich Dad's Guide to Financial Freedom
• Where rich invest their money? Rich Dad's Guide to Investing: What the Rich Invest in, That the Poor and the Middle Class Do Not!
• How to evaluate real estate investments? The ABCs of Real Estate Investing: The Secrets of Finding Hidden Profits Most Investors Miss
• How to create cashflow from stocks? The Stock Market Cash Flow: Four Pillars of Investing for Thriving in Today’s Markets