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Enough Bull: How to Retire Well without the Stock Market, Mutual Funds, or Even an Investment Advisor, 2nd Edition by David Trahair

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Chapter 8The Money Maximizer

Let’s face it, we’d all like more money right? Well what’s the best way to get it?

We could try to find another job that pays more. Perhaps we could work a lot more hours in our existing job in the hopes of getting a raise. If we are self-employed we could put in more hours at work in the hopes of making more profit.

Alternatively we could cut down our expenses by maybe forgoing a vacation this year or reducing our entertainment budget. Either way – increasing our income or reducing our expenses – it’s likely to be a somewhat painful experience.

Would you be willing to spend a few hours looking at your financial big picture to see if there is something about your financial life that you could change to increase your cash flow? What if there was a spreadsheet that would allow you to calculate the total cash inflow in your entire life under many different scenarios so that you could choose the one that maximizes your family’s cash inflows – without the pain of working more hours or reducing the expenses that make your life more enjoyable?

Well there is such a spreadsheet. It’s called the “Money Maximizer” and I’m going to show it to you in this chapter.

Why Work Against the Taxman?

When we talk about maximizing your money, we are actually talking about maximizing your after-tax cash inflows. For example, we have seen that if you make $80,000 in salary in 2014 in Ontario, you would owe $18,087.85 in federal and Ontario income taxes, $2,425.50 in CPP ...

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