Here we are, well into fall…already? What even is time, anyway? Next thing you know it’ll be 2021 and all this will be over, right?
The amount of creative energy we’re all using just to get through life these days is enormous, and you may not have much leftover for reading All The Things, which is exactly why we compile this list every month. We read the things so you don’t have to (unless you want to, obviously), and share the few that resonated with us.
To start you off easy, we have a great read that’s not a read at all! The Money on the Table video series from Julien and Kiersten Saunders is a must-watch for anyone with parents who are or may become financially dependent on them. Spend 40 minutes with them and Julien’s mother in episode three, and then do yourself a favour and watch the other episodes too.
Next up, we have an article from our favourite Bitches getting Riches about how using your post-secondary studies to learn key skills like “managing people, priorities, time, data, and (most importantly) yourself” can be more valuable than technical industry know-how. Finally, we found an article for all you new to the working from home scene on what WFH expenses you can and can’t deduct from your income come next year’s tax filing season, and the supporting information you may need to request from your employer to do so.
As always, we’ve got more than just three great reads for you. If you have time, check out the following:
- A personal reflection on the importance of advanced care directives and a super-helpful resource to help you with your own planning.
- A piece of advice from Jacquette Timmons on moving past shallow financial to-do lists and into the deeper, more valuable waters of abstract thinking.
- Some thoughts from our friend Chris Enns on how those of us privileged enough to have a cash buffer gain the strength to wait out tough times.
- A reminder that an “abundance mindset” is about doing what’s best for you and trusting that you’re capable enough to deal with whatever comes next.
- A succinct but powerful lesson from Money Navigator Hadriana Leo on the one thing you can do to take advantage of this season of new beginnings.
- A telling comparison of two advisor interviews by a woman with inheritance money to invest.
- A few ways to create a feeling of financial security you can have confidence in.
- A reminder that many investing experts are actually experts on an earlier version of the world that no longer exists.
- A masterful explanation of what inflation is, how it’s calculated, and what that means for you.
From Julien & Kiersten Saunders
If you haven’t been watching this series of real-life conversations about money from Julien & Kiersten Saunders of Rich & Regular, you’ve been missing out (I mean, the food is dreamy, for one thing).
This conversation with Julien’s mom Sybil, about her childhood growing up in Jamaica, her experience as an immigrant coming to the US, and the role money played in her life is a perfect example of the kind of conversations to have with your own parents. (This episode of Because Money is another example)
As Julien & Kiersten explain, this important conversation allows you to understand how your parents’ life experience shaped how you were raised to think about money.
Watch the full video here.
Your College Major May Not Prepare You for Your Job—but It Can Prepare You for Life What Does “Good Trouble” Look Like in Your Life?
“You bring great value to your job role just by being you, regardless of what you studied in school or learned in internships. In my observation, technical know-how and industry experience are far less important than the “soft skills” of managing people, priorities, time, data, and (most importantly) yourself.“
Read the full article here.
2020 Income Tax: What you can’t—and can—claim for your work-from-home office during the COVID-19 pandemic
From Renee Sylvestre-Williams
“You furnished a functional home office, you’ve got face masks ready by the door for when you need to run an errand, and you bought sanitizer (so many bottles of sanitizer). You’ve done your part to stay home and help flatten the coronavirus curve. The question now is: Can you write off working from home during the pandemic and any of these things you bought because of COVID on your taxes?”
Read the full article here.
You can read this month’s entire list below, and browse through past lists here.
“Advance care planning (ACP) is about planning for your future health care needs, not just about end-of-life. Think of it more as being about how you want to live, should you become unwell and what you want your care to look and feel like—whether that’s tomorrow or years from now. Because let’s face it, we don’t know what’s coming. Not one person has ever said: ‘The next time I die…”
“It is so much better to follow the spirit of a financial tactic and find what’s suitable for your current circumstances than it is to unquestionably follow a financial rule. Strategic adaptation is key and is what will set you up for success”
“Building that buffer is a priority, no matter what you’re trying to do. It’s really hard to pay off debt, save for a big thing, build a home or business while playing jump rope with zero.”
“How many times do we hold on tightly to an unhealthy friendship, partnership, or job because we fear we’ll never find anything else comparable? Although it might seem like keeping that connection is what we need, the longer we hold onto it even when we know it no longer serves us, the longer we limit ourselves from other opportunities.”
“Stop planning and start already.”
“When she asked him to provide the list of recommended funds from five years ago, he stared at her with the look of a deer caught in the headlights. He had gone through A.G. Jones’ intensive sales program. The training program had taught him to ask questions like ‘You don’t want to be average, do you?’ But it had not prepared him for this question. He was taught to sell, and obfuscate, but not to answer questions like this.”
“When talking about financial security, it’s important to differentiate between BEING financially secure and actually FEELING financially secure. It’s possible to BE financially secure but not FEEL that way. It’s possible to be in a great financial position but without the right knowledge, routines and plans, it may not actually feel that way.”
“The world of finance is littered with people who are experts on an earlier version of the world. They rely exclusively on specific backtests, formulas and strategies that would have worked wonderfully in the past.”
“Canadians’ lived experience of rising costs may be inadequately captured in the official measurement of inflation.”
- October’s Top Reads - October 14, 2020
- Financial Intimacy by Jacquette Timmons: A Book Review - October 6, 2020
- Our Money Stories by Eugenié George: A Book Review - August 13, 2020