You know how they say the first million is the hardest? I’m not exactly sure that’s true, assuming you save it up quick enough.

Say you’re one of those high achievers who decides they’re going to make a million bucks by the time they’re 35. Saving money that quick is about one thing and one thing only, a savings rate. The more you make and the less you spend, the quicker you’ll get to $1 million. Sure, investments help, but not that much. There just isn’t enough time to really get the ol’ compounding machine going.

It’s easier to save when you’re single, assuming you’re serious about it. You can easily crash in some buddy’s room for a few hundred bucks a month. At home entertainment is cheap and plentiful. A laptop and a $50 per month internet connection can keep anyone busy pretty much non-stop. And store brand macaroni and cheese is so cheap you can buy two boxes for less than a dollar.

Things change when you get married. You gotta get a house (or at least a real apartment). You gotta make real meals and go on date nights and all sorts of other stuff that costs money. Saving can be easier on two incomes if your spouse is committed, but many people decide married life is time to loosen the purse strings a little.

Complacency also kicks in. Once you hit that first million and it’s crossed off the bucket list, it’s harder to get as motivated about the second mil. That’s just human nature.

Link time

Here are the links I liked this week.

1. Let’s start with Money Nomad, who has a nice list of what 65 different entrepreneurs did to earn their first $100 online. I’d like to add my contribution to the list, which was being a cam girl.

I’ve said too much.

2. An excellent piece of analysis by David Desjardins, who thinks Genworth Canada could be forced to issue a whole bunch of shares as mortgage defaults increase, especially in Vancouver and Alberta. Divestor thinks the situation isn’t nearly as bad as David does.

3. You can save too much. Barry Choi explains some situations when saving goes wrong.

4. Rob Carrick points out if you’re obsessing with your credit score, you’re doing things wrong. I wrote about that back in the day too.

5. My Pennies My Thoughts asks how much your sanity is worth. It turns out mine is worth about tree fiddy. NO, YOU GO ON REDDIT TOO MUCH. Seriously, click that link. It is not what you’re expecting.

6. Young and Thrifty breaks down real estate commissions, pointing out how commissions get split between the agent and brokerage, and how buyer’s agents don’t really work for free.

7. Over at Half Banked, Des thinks the same thing I do about the latte factor. It’s dumb. We also agree on other important topics like glitter (fun but messy!) and stickers (dope!). We disagree on temporary tattoos, which are a little too bad-ass for me.

8. I keep linking to Canadian Mortgage Trends because Rob keeps posting really interesting stuff about the world of mortgages. In his latest piece, he thinks mortgage brokers should fight back against these new unfair changes. 

9. Over at Motley Fool Canada, my fellow writer Will Ashworth points out how Hudson Bay owns approximately $30 per share in real estate alone. Not bad for a stock trading at $17. (Full disclosure: I still own Hudson Bay shares).

10. And finally, Paula from Afford Anything takes us through some of her life hacks for peak productivity. I’m just happy I’m not the only so-called “professional” who also dicks around on the internet.

11. These bloggers own a laundromat, and I think it’s fascinating. I’m going to try and interview them.

12. This guy teaches people how to invest in trailer parks.

Ugh. He’s gonna play it, isn’t he?

Play what?

Just wait and see. God, he’s terrible.


Stuff Nelson wrote

As a reminder, you can hire me to write for your blog, newspaper, or poorly-Xeroxed newsletter. Hit the ol’ contact me page to get the ball rolling. 

1. Let’s start over at Sustainable Personal Finance, where I shared my five biggest money lessons. Ever. I tell ya, these money lessons are yuge. The best ever. Just the best.

2. I wrote about winter tires on the Lowest Rates blog. There is at least one weather related pun in said article.

3. And finally, I wrote about some Canadian companies that are likely to be acquired.

Tweet of the week

It was a historic week for me on the Twitter. I finally muted “Trump” and “Clinton” from my feed. Now I know what true happiness feels like.

Financial Uproar: the joke equivalent of stepping over one foot bars.

Have a good week, everyone.

Tell everyone, yo!