{"product_id":"cash-cows-pigs-and-jackpots-isbn-9781118083512","title":"Cash Cows, Pigs and Jackpots","description":"\u003cb\u003eA contrarian and controversial look at personal finance, and a super simple strategy for making—and keeping—more money\u003c\/b\u003e  \u003cp\u003eTraditional financial wisdom persuades us to grow our net worth and build our assets. But traditional financial wisdom is often wrong. In \u003ci\u003eCash Cows, Pigs and Jackpots: The Simplest Personal Finance Strategy You'll Ever See\u003c\/i\u003e, author and Chartered Accountant David Trahair challenges everything we think we know about managing our money, suggesting that that we follow the lead of the financial institutions that are leading us down the path to financial ruin.\u003c\/p\u003e \u003cp\u003eThe banks, brokers, and investment companies of the world make enormous sums of money because they know that cash is king and they know how to guarantee cash flow from their clients on a continual basis. They aren't making the bulk of their money from investing in the stock market—they're leeching it from regular people like you, every minute of every day. \u003ci\u003eCash Cows, Pigs and Jackpots\u003c\/i\u003e turns the tables, showing that the biggest cash cow we have is ourselves. Instead of chasing a dream that will never come true, it presents a financial plan so simple even a 10-year-old could understand it.\u003c\/p\u003e \u003cul\u003e \u003cli\u003eExplains why the common consensus about making money is inherently flawed\u003c\/li\u003e \u003cli\u003ePresents an incredibly simple, easy-to-follow plan for really making and saving money\u003c\/li\u003e \u003cli\u003eExposes the dangers of trusting money to a bank or broker\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eHelping you break asset addiction, get out of debt, and increase your personal cash flow—and your wealth with it, \u003ci\u003eCash Cows, Pigs and Jackpots\u003c\/i\u003e explains how bringing more cash into your life and watching carefully where it goes will allow you to save more, live the life you want, and avoid as much risk as possible—a great strategy going into the stormy financial years to come\u003c\/p\u003e  Acknowledgements xii  \u003cp\u003eIntroduction 1\u003c\/p\u003e \u003cp\u003eCash Is Not King 2\u003c\/p\u003e \u003cp\u003eCash Flow Is King 2\u003c\/p\u003e \u003cp\u003eWho Gets Rich Off You 3\u003c\/p\u003e \u003cp\u003eIt's Not Just Them, It’s Us 3\u003c\/p\u003e \u003cp\u003eWant to Get Rich Quick? 3\u003c\/p\u003e \u003cp\u003eBack to Basics 4\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1—The Cash Cow Strategy 5\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCash Cows 5\u003c\/p\u003e \u003cp\u003eCash Pigs 6\u003c\/p\u003e \u003cp\u003eCash Jackpots 7\u003c\/p\u003e \u003cp\u003eThis Is Not a Philosophy; It's About Cash Flow 8\u003c\/p\u003e \u003cp\u003eCows and Pigs Can Change 8\u003c\/p\u003e \u003cp\u003eOne Person's Pig May Be Another Person’s Cow 9\u003c\/p\u003e \u003cp\u003eCash Cow, Pig or Jackpot? 9\u003c\/p\u003e \u003cp\u003eA House or Condo 10\u003c\/p\u003e \u003cp\u003eGambling 11\u003c\/p\u003e \u003cp\u003ePersonal Debt 11\u003c\/p\u003e \u003cp\u003eDefined Benefit (DB) Pension Plans 12\u003c\/p\u003e \u003cp\u003eCanada Pension Plan and Old Age Security 14\u003c\/p\u003e \u003cp\u003eKids 14\u003c\/p\u003e \u003cp\u003eA Bigger View: Government Debt 15\u003c\/p\u003e \u003cp\u003eWhy Don’t People Follow This Basic Strategy? 16\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2—Taking Care of Your Biggest Cash Cow 17\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eYour Biggest Cash Cow Is  17\u003c\/p\u003e \u003cp\u003eHow to Protect Your Biggest Cash Cow 19\u003c\/p\u003e \u003cp\u003eIs Your Body Trying to Tell You Something? 19\u003c\/p\u003e \u003cp\u003eAre You Eating Well? 20\u003c\/p\u003e \u003cp\u003eHow Much Exercise Do You Get? 22\u003c\/p\u003e \u003cp\u003eHow Much Sleep Do You Get? 22\u003c\/p\u003e \u003cp\u003eThe Value of Hard Work 23\u003c\/p\u003e \u003cp\u003eSumming up Healthy Living 24\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3—Who Wants to Be a Millionaire? 25\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhat Is \"Rich\"? 25\u003c\/p\u003e \u003cp\u003eNet Worth Is a Lousy Measure of Wealth 25\u003c\/p\u003e \u003cp\u003eMixing Pre-Tax and After-Tax Amounts 26\u003c\/p\u003e \u003cp\u003eIgnores Cash Flow 26\u003c\/p\u003e \u003cp\u003eMany \"Wealthy\" People Are Living a Mirage 28\u003c\/p\u003e \u003cp\u003eWhy I Don’t Want to Win the Lottery 30\u003c\/p\u003e \u003cp\u003eGoing Beyond the Numbers 31\u003c\/p\u003e \u003cp\u003eDoes Money Buy Happiness? 31\u003c\/p\u003e \u003cp\u003eWhat Causes Happiness? 33\u003c\/p\u003e \u003cp\u003e\"The Happy Movie\" 33\u003c\/p\u003e \u003cp\u003eHappy for No Reason 35\u003c\/p\u003e \u003cp\u003eMy Take on Happy 38\u003c\/p\u003e \u003cp\u003eMy Secret to Life 39\u003c\/p\u003e \u003cp\u003eMillion Dollar Wrap-up 41\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4—The Trap: Why You Aren't Getting Rich and They Are 42\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eHow the Banks Make Money 43\u003c\/p\u003e \u003cp\u003ePlug the Cash Pig Leaks 43\u003c\/p\u003e \u003cp\u003eThe Mutual Fund Fee Monster 44\u003c\/p\u003e \u003cp\u003eBorrowing to Get Rich: It Can Work, But Don't Bet on It 45The Wealth Effect Is the Enemy 46\u003c\/p\u003e \u003cp\u003eSometimes People Are Their Own Worst Enemies 47\u003c\/p\u003e \u003cp\u003ePaul's Story 48\u003c\/p\u003e \u003cp\u003eClosing the Trap 54\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5—The Dream of Home Ownership 55\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Wealthy Barber Weighs In 56\u003c\/p\u003e \u003cp\u003eHow Much Home Can You Afford? 57\u003c\/p\u003e \u003cp\u003eRent Is Not a Four-Letter Word 60\u003c\/p\u003e \u003cp\u003eAn Example—123 Any Street, Hometown 63\u003c\/p\u003e \u003cp\u003e123 Any Street: The Assumptions 65\u003c\/p\u003e \u003cp\u003eDon't Forget the Closing Costs 66\u003c\/p\u003e \u003cp\u003eA Word About the Down Payment 69\u003c\/p\u003e \u003cp\u003eCMHC Changes 71\u003c\/p\u003e \u003cp\u003eThe Key Points That Most People Miss 72\u003c\/p\u003e \u003cp\u003eThe Opportunity Cost 72\u003c\/p\u003e \u003cp\u003eThe Ongoing Cash Costs 74\u003c\/p\u003e \u003cp\u003eConsumer Debt Warning 74\u003c\/p\u003e \u003cp\u003eCompounding Confusion 75\u003c\/p\u003e \u003cp\u003e123 Any Street: The TFSA Results 77\u003c\/p\u003e \u003cp\u003e123 Any Street: The RRSP Results 80\u003c\/p\u003e \u003cp\u003ePlaying with the Inputs 81\u003c\/p\u003e \u003cp\u003eHousing Prices Increases 81\u003c\/p\u003e \u003cp\u003eHouse Price 81\u003c\/p\u003e \u003cp\u003eInterest Rates 84\u003c\/p\u003e \u003cp\u003eBeware Those Trying to Sell You Something 84\u003c\/p\u003e \u003cp\u003eBeyond the Numbers 85\u003c\/p\u003e \u003cp\u003eLong-Term House Prices 85\u003c\/p\u003e \u003cp\u003eRepairs and Maintenance 86\u003c\/p\u003e \u003cp\u003eRenovations 87\u003c\/p\u003e \u003cp\u003eThe End Game: Can You Sell? 87\u003c\/p\u003e \u003cp\u003eConclusion 87\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6—The Condominium Conundrum 89\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCondo Basics 90\u003c\/p\u003e \u003cp\u003eDefi nition of a Condominium 90\u003c\/p\u003e \u003cp\u003eThe Legal Details 91\u003c\/p\u003e \u003cp\u003eCondominium Regulations 91\u003c\/p\u003e \u003cp\u003eThe Fees 92\u003c\/p\u003e \u003cp\u003eWho Pays for What? 92\u003c\/p\u003e \u003cp\u003eInsurance 93\u003c\/p\u003e \u003cp\u003eRenting Out the Unit 94\u003c\/p\u003e \u003cp\u003eCondo Costs 94\u003c\/p\u003e \u003cp\u003eThe Purchase Price 95\u003c\/p\u003e \u003cp\u003eThe Monthly Costs 95\u003c\/p\u003e \u003cp\u003eRunning the Numbers 96\u003c\/p\u003e \u003cp\u003eThe Toronto Condo: Results 97\u003c\/p\u003e \u003cp\u003ePlaying with the Inputs 100\u003c\/p\u003e \u003cp\u003eFurther Analysis Required 101\u003c\/p\u003e \u003cp\u003eBuying a New Condominium 102\u003c\/p\u003e \u003cp\u003eBuying a Re-sale Condominium 103\u003c\/p\u003e \u003cp\u003eCondos: What Could Go Wrong? 104\u003c\/p\u003e \u003cp\u003eWhat You Can Do to Manage Condo Risk 106\u003c\/p\u003e \u003cp\u003eA Word about Rental Properties and Income Tax 107\u003c\/p\u003e \u003cp\u003eCondo Wrap-up 108\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7—Infl ation: Monster or Myth? 110\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhat Is Infl ation? 110\u003c\/p\u003e \u003cp\u003eThe Consumer Price Index (CPI) 111\u003c\/p\u003e \u003cp\u003eHow the CPI Is Calculated 112\u003c\/p\u003e \u003cp\u003eHistorical CPI Rates 114\u003c\/p\u003e \u003cp\u003ePercentages versus Actual Cash Flow 116\u003c\/p\u003e \u003cp\u003eAn Infl ation Example 117\u003c\/p\u003e \u003cp\u003eWhere Will Infl ation Be in the Future? 119\u003c\/p\u003e \u003cp\u003eDefl ation May Be the Bigger Monster 120\u003c\/p\u003e \u003cp\u003eStagfl ation: The Two-Headed Beast 121\u003c\/p\u003e \u003cp\u003eWhy the CPI Matters to You 121\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8—Maximizing Your Canada Pension Plan 123\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCPP and OAS Overview 124\u003c\/p\u003e \u003cp\u003eCPP: The Basics 124\u003c\/p\u003e \u003cp\u003eCPP: The New Rules 126\u003c\/p\u003e \u003cp\u003eCPP Contribution Rate 130\u003c\/p\u003e \u003cp\u003eIs the CPP Plan Solid? 130\u003c\/p\u003e \u003cp\u003eThe CPP Investment Board (CPPIB) 131\u003c\/p\u003e \u003cp\u003eThe Chief Actuary of Canada 133\u003c\/p\u003e \u003cp\u003eCan We Count on the CPP? 134\u003c\/p\u003e \u003cp\u003eIs the Canada Pension Plan a Good Investment? 134\u003c\/p\u003e \u003cp\u003eHow Is the Maximum CPP Pension Calculated? 137\u003c\/p\u003e \u003cp\u003eCPP and QPP Maximum Amounts 138\u003c\/p\u003e \u003cp\u003eHow Will My CPP Pension Be Calculated? 139\u003c\/p\u003e \u003cp\u003eThe Child-Rearing Provision 139\u003c\/p\u003e \u003cp\u003eShould I Elect to Start My CPP Early? 141\u003c\/p\u003e \u003cp\u003eInfl ation Effect on the CPP Retirement Benefit 143\u003c\/p\u003e \u003cp\u003eThe CPP Disability Benefits 143\u003c\/p\u003e \u003cp\u003eSumming Up the CPP 145\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9—Can We Rely on the Old Age Security Cash Cow? 146\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe OAS Details 146\u003c\/p\u003e \u003cp\u003eGuaranteed Income Supplement 147\u003c\/p\u003e \u003cp\u003eOAS Clawback 148\u003c\/p\u003e \u003cp\u003eOAS and GIS Amounts 149\u003c\/p\u003e \u003cp\u003eThe Proposed OAS Changes 150\u003c\/p\u003e \u003cp\u003eOAS Wrap-up 152\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10—Cash Flow for Life 153\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhat Are Your Cash Cows in Retirement? 154\u003c\/p\u003e \u003cp\u003eCPP and OAS 154\u003c\/p\u003e \u003cp\u003eRRSPs: How Big Does Yours Need to Be? 156\u003c\/p\u003e \u003cp\u003eRRIFs: The Details 157\u003c\/p\u003e \u003cp\u003eAnnuities: The Details 159\u003c\/p\u003e \u003cp\u003eCash Flow Finale 161\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 11—The Inheritance Jackpot 162\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Great Wealth Transfer Is Going to Be Inefficient 163\u003c\/p\u003e \u003cp\u003eHow to Talk to Your Parents About Death 164\u003c\/p\u003e \u003cp\u003eThe Problem with Death 165\u003c\/p\u003e \u003cp\u003eIs There Tax on Death? 165\u003c\/p\u003e \u003cp\u003eGetting Ready: A Simple Checklist 165\u003c\/p\u003e \u003cp\u003eConclusion 167\u003c\/p\u003e \u003cp\u003eIndex 169\u003c\/p\u003e \u003cp\u003eAbout the Author 177\u003c\/p\u003e  \u003cp\u003e\u003cb\u003eDavid Trahair\u003c\/b\u003e is a Chartered Accountant who operates as a sole-proprietor, offering a broad range of accounting and tax services to a variety of businesses and individuals. He is a frequent speaker, appears regularly in the media, and is the author of several books, including \u003ci\u003eEnough Bull\u003c\/i\u003e and \u003ci\u003eCrushing Debt\u003c\/i\u003e. He is also a previous director of Credit Canada, a non-profit organization dedicated to helping people deal with credit problems.\u003c\/p\u003e  \u003cp\u003e\u003cb\u003eSimply keep your money to yourself.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eTraditional financial wisdom persuades us to try to get rich. We get on the treadmill to build our assets, even borrowing to invest, in an attempt to grow our net worth. But traditional financial wisdom is often wrong. In \u003ci\u003eCash Cows, Pigs and Jackpots\u003c\/i\u003e, David Trahair challenges the basic assumptions we make about managing our money, suggesting that too often we follow the advice of the institutions that are leading us down the path to financial ruin.\u003c\/p\u003e \u003cp\u003eBanks, brokers, and investment companies make enormous sums of money because they know that cash flow is king. They aren't making the bulk of their money from investing in the stock market—they're milking it from regular people like you, every minute of every day. \u003ci\u003eCash Cows, Pigs and Jackpots\u003c\/i\u003e turns the tables, separating out the things that make us money over the long term, the things that cost us more than we think, and those one-time payoffs that we shouldn't bank on. It's time for a financial strategy so simple even a 10-year-old could understand it. Trahair explains:\u003c\/p\u003e \u003cul\u003e \u003cli\u003ewhy trying to build wealth is making you poor, and them rich\u003c\/li\u003e \u003cli\u003ewhy getting rich will not make you happy, and what will\u003c\/li\u003e \u003cli\u003ewhy investing in expensive real estate is ruining lives\u003c\/li\u003e \u003cli\u003ewhat your biggest cash cow is and how to protect it.\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eHelping you break asset addiction, get out of debt, and increase your personal cash flow and wealth, \u003ci\u003eCash Cows, Pigs and Jackpots\u003c\/i\u003e explains how you can save more, live the life you want, and avoid as much risk as possible—a great strategy going into the stormy financial years to come.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47988891287781,"sku":"NP9781118083512","price":22.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781118083512.jpg?v=1761781940","url":"https:\/\/k12savings.com\/products\/cash-cows-pigs-and-jackpots-isbn-9781118083512","provider":"K12savings","version":"1.0","type":"link"}