Here are the components of my fatherhood system: Yearly goals, monthly goals and reviews, daily activities.
This year the monthly reviews are on the Wednesday after the second Sunday, fro 5-6PM at Ernescliff College before the Opus Dei monthly Recollection for men. I'll be evaluating my results on:
Goals: Teach Carlos to return things and to clean up after himself. Explore Ontario on summer weekends. Do a day a week of physical play for the entire family. And get a full time housekeeper to cook, clean, do laundry, and get us in a fit state to have another baby.
I'd like the longer vacations to be 3 weeks in Christmas with extended family, 2 in August just for us, and 1 in the dead of winter (last week of Feb). One of these should be vividly memorable due to place or activity. e.g. Banff for natural beauty or skydiving for the thrill. The idea is to create great family memories.
Daily, I've allocated 7-8:30 for play with Carlos and 8:30-10 for Elvia. I'd like to spend 2 hours a weekend editing video and photos, but the bulk of the weekend getting out and about town with E and C. Sundays are brunch spent talking with E about how the family is doing, and Sunday Mass.
Saturday, November 11, 2006
In Income Trusts We Don't Trust
The government giveth, the government taketh away. If the government really wanted to help us they'd reduce the taxes, instead of granting exceptions and retaining the right to change their mind when it suits them.
Luckily my exposure to income trusts was around 2%, not material really. And there is a reason I did that. Any financial instrument that operates in the realm of taxable earnings is subject to the systemic risk that the government will take away the exemption. RRSPs and other tax deferred plans are really just another form of the same thing. Who is to say that when Alberta and Ontario stop bailing out the rest of the nation, the federal government simply says - "Sorry guys, all those deferred taxes are due. Now."
I keep my savings in a non-taxable environment. When I look at putting savings at risk in a taxable investment the hurdle rate is pretty high. as the promised rewards have to be commensurate and the probability of success high.
Luckily my exposure to income trusts was around 2%, not material really. And there is a reason I did that. Any financial instrument that operates in the realm of taxable earnings is subject to the systemic risk that the government will take away the exemption. RRSPs and other tax deferred plans are really just another form of the same thing. Who is to say that when Alberta and Ontario stop bailing out the rest of the nation, the federal government simply says - "Sorry guys, all those deferred taxes are due. Now."
I keep my savings in a non-taxable environment. When I look at putting savings at risk in a taxable investment the hurdle rate is pretty high. as the promised rewards have to be commensurate and the probability of success high.
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