NFtoBC

Vanguard Nomad Discussion Forum

2010-07-19T18:16:00.000-07:00

The folks at YachtPals have seen enough discussion and interest on the Vanguard Nomad topic on their site that they have set up a Vanguard Nomad forum. You can find out more at this link: http://yachtpals.com/vanguard-nomad-sailboats

Thanks, YachtPals, it is great to have a REAL home port on the internet!

See you there!

Vanguard Nomad Rigging Guide

2010-05-31T20:05:00.004-07:00

For those looking for an electronic copy of the Nomad 'Owners Manual' have a look here. Torresen Marine is still hosting a copy on their site.

I have purchased a new spinnaker outhaul, so I can more easily douse the spinnaker; the original line was too short, and it was almost impossible to pack the spi without climbing to the fore deck. I plan to upgrade the jib halyard to a vectrus line to address the twisting of the halyard inside the mast. The current wire halyard imparts a twist to the halyards inside the mast -- a considerable task to correct. I also plan to upgrade the jib furling gear with high load swivels.

Update (July 3) As of my most recent experience untangling the jib halyard, I decided that I would no longer detach the t-ball connector from the mast while unrigged. Thus instead of keeping the halyard in the mast, and subject to tangling, I now leave the wire inside the mast, and coil the rope into one of the spinnaker bags. So far this has prevented the rope tangling again, but a few more days of raising & lowering the mast will let me know the real effect of this change.

Anyone else care to share their mods?

MEC Gear for sailing

2010-04-11T21:10:00.003-07:00

MEC (Mountain Equipment Co-op) is a well-known outdoor sporting goods supplier here in Canada. Their product lines support "self-propelled" outdoor pursuits, but many of the kayaking gear they supply is also suitable for sailing. On a recent trip to the city, I picked up the following:

waterproof pants (with integral booties)
These are great for early season sailing, when the water is cold!
protective boots for the above
gloves
phone & radio waterproof container
waterproof bags
windproof jacket
polyester clothing (drys quickly)
fleece

I'll add further comments as I use these items.

Computer crash!

2010-03-22T17:53:00.001-07:00

Not mine, it was that of the minister of our church. On Saturday morning. It got me thinking about the issue of backups. One of the challenges is the steps one must take to complete a backup. The more user intervention, the less likely to occur. To address the issue at St. Stephen's, we purchased a small server to maintain our files on a RAID drive. This unit, a Dlink DNS-323 is connected to our wireless router, and holds shared files of all our users. However, data security extends far beyond simply consciously saving file to a network drive, so a number of other steps were added. As I have an existing account with a web hosting company, web based backup space was readily available, but needed to be accessed. In addition, we needed easy ways to maintain files. Here are some of the utilities I found to make the task easier.

GFI Backup Home edition - a great utility from GFI Software which allows easy backup of files to a number of destinations, including USB sticks, DVD, LAN Drives of FTP sites on the 'net.
Fling - by NCH Software of Australia, appears as one or more folders on your desktop, or anywhere else you care to place it, and allows you to drop files into the folder, and they are automagically uploaded to an FTP site. Originally created for easy maintenance of websites, it's a really useful tool for ensuring your most important files are kept safe in an off site location. We also looked at a similar product, Tango Dropbox, but found it less useful.
Dropbox - a handy file store & file sharing tool. Like Fling, Dropbox appears as a folder in your documents folder. Placing a file in the dropbox moves it to their servers. You can invite other dropbox users to share folders within your Dropbox, and any changes anyone makes are immediately shared with the rest of the group. You can also place files in a Public folder, where anyone can access a specific file if you send a link to it. We have found Dropbox a great tool for collaborative work.
OpenDrive - this was another program that showed promise, but I was unable to get it to work on my computer. It is similar to Dropbox in concept -- a network drive appears in the 'My Computer' folder and is accessible as is any other drive on your computer.
Mozy - a popular file back-up option was not assessed due to its cost.

We are now backing up the files at the church on a daily basis. Now the task is getting folk who are used to placing everything in the documents folder on the c: drive to start using other options, so other users can share the files!

Mobile Computing

2010-01-02T17:50:00.001-07:00

As computing technologies mature, and the expectation of users is that access is ubiquitous, a number of technologies are filling that dream. Today many of us carry any of a variety of internet connected devices -- laptops, netbooks, and smartphones. We also have the ability, through many ISPs to access email, etc through a webmail interface.
But what happens if you want to travel REALLY light?
In the early to mid 2000's, Sandisk created a USB stick with a number of applications on it which allowed the user to have portability of their applications, and retain Addressbooks, weblinks and all the other detritus we collect as we use the web. The Sandisk U3 continues to be available.

Google, Yahoo, MSN, and others offer a number of other functions to allow the connected user to keep their lives in order, but there comes a point where maintaining a plethora of accounts becomes a challenge. This is where the inter-connectivty of using the cloud becomes attractive. By using the same or similar applications, on various devices, all can share in the same information.

The ideal of freedom from a particular device has not been lost in the public domain either. The website PortableApps.com has complied an excellent array of open source applications which can be kept on a USB key and used on any PC-based (including wine) system. The beauty of this product is two-fold: the apps are all freely available, and the user leaves no trace on the host's computer. You can borrow just about anyone's computer for your internet activity, and retain all your bookmarks, addresses, and histories on your USB key.

For the user who does not wish to carry a laptop, this seems a viable option.

Kootenay WiFi Spots: Creston

2009-12-05T20:08:00.005-07:00

This blog entry is the beginning of a series describing Wireless spots in British Columbia's Kootenay Region. We'll start in Creston, on the International Selkirk Loop, one of the first Canadian locations many travelers visit. Most of the motels in Creston offer free wireless connections to their patrons. There are few other locations where travelers can connect for free or a fee:

Break in Time Caffe - free WiFi, and coin operated terminal
Renee's Mainstreet Diner - free WiFi
Kingfisher Books - free WiFi (a donation is suggested)
Buffalo Trails Coffee Shop - free WiFi
Creston Library - free WiFi and free termainals (busy in the summer months)
Black Bear Books - WiFi, and coin operated terminal
New Life Church -- Bacchus Coffee Bar -- (a donation is suggested)

If you are aware of more WiFi hotspots in and around Creston, please let me know.

Sailing in Light Airs

2009-09-29T18:00:00.000-07:00

It seems that a great amount of my sailing time this year has been in low wind situations, apparently commonplace in the interior of the continent. We've drifted around on a number of lakes in the area this summer, at times sitting with enough weight to leeward to give the sails shape. In these conditions, there's often insufficient wind to properly fill the asymetrical spinnaker -- the sail folds in on itself, and more time is spend trying to manage the sail than actually sailing! I've been wondering if it's time to look for a 'Drifter' or MP-G (multi-purpose Genoa) for the Nomad. My thoughts are that if I could use the spinnaker attachment points -- halyard, sprit, and sheets, I'd about double the size of the jib. If I can bring the clew further astern, by installing another pair of sheaves , this sail could be over 3 times the size of the jib and 3/4 or more that of the spinnaker. By having this sail constructed of light weight nylon, as is the spinnaker, I hope to address my light air challenges.

Or should I just resort to the motor?

Nomad Parts Sale

2009-08-29T07:37:00.003-07:00

Laser Performance has a clearance sale of Nomad Parts. This might be the last chance to purchase some items unique to your Nomad. Some items which particularly caught my eye:

Rudder, Parts or fully rigged
Sail Floats, Dacron or RM
Batten Sets
Spinnakers listed at half-price
Sail & Boat covers
Mast & Boom - fully rigged

I'm considering a rudder foil, as it seems to be taking the most abuse of any part on my boat.

Nomad Rig Tuning 3

2009-08-26T17:22:00.004-07:00

Since my last post on this topic, I've had the opportunity to sail with the spreaders adjusted a bit forward of their former position. The current pin placement is effective 2 holes from the original setting. We took the Nomad (have to give it a name, yet) out in a stiff breeze of 20 - 30 km/h last weekend, and was much happier with the sail shape. Whereas previously there were wrinkles along the leech, this time we had a smooth airfoil.

Once we reached the lee end of the lake and turned to come back against the wind, we found the wind a bit strong, so we furled the jib. This allowed a leisurely sail back up the lake without having to sit on the gunwales to keep her balanced. 'Twas a great learning experience.

Untangling the Jib Halyard

2009-08-25T19:33:00.003-07:00

The jib halyard on the Nomad has a 3:1purchase using rope, blocks and sheaves attached to the end of the wire halyard. These are run inside the mast to keep it tidy. However if the rope twists, it wraps around itself, making the lowering of the mast impossible without removing the halyard shackle at the bow. The only way I have found to address this issue is to remove the foot of the mast, untangle the halyard and the rope, try to remove the twist in the rope and reassemble.

There appears to be no way to remove the halyard from the mast, untangle it outside the mast and replace it, as the swaged T-ball terminal is too large to pass through the sheave opening on the upper part of the mast. I'm considering replacing the wire halyard with a Vectran line, so I can remove the whole works to untangle it!

I'll add a picture next time I have to take it apart.

I'd like to learn of others' solutions.

Nomad Rig Tuning 2

2009-08-16T10:17:00.004-07:00

From the Nomad Rigging Manual:

Our recommendations:
For general spreader placement start with the tip. Slide the tip all the way in so that no additional holes are showing. Then place the spreader into the bracket. Pin the forward hole on
the outer end of the bracket. The third aft hole on the outboard row is where the second pin should be positioned. Experiment with different settings to see which may be best for you!

See the previous post for another suggestion.

Nomad Rig Tuning

2009-08-16T09:45:00.005-07:00

The following notes are extracted from the Yacht Pals discussion forum.

In response to a query by one Nomad sailor, Steve Clark, one of the developers of the Nomad replied:

Things that are "standard" work pretty well.
You want plenty of rig tension as the breeze builds. This keeps the luff of the jib from sagging, which is how you keep the jib flat. The mast should be set up with a bit of pre-bend; when the rig is pulled on snug there is a little fore and aft bend induced by the spreaders. You do not want the mid panel of the mast to sag to leeward, if that is happening, shorten the spreaders. Try 3 holes showing. If the mast looks like it is bowing too far to windward, then you will want to move the spreader tips out a hole or two. This is usually something that you can judge as you are sailing, and if things look abnormal, you can almost always sheet it soft and get home.
Try putting the shrouds someplace in the middle of the range on the hole adjusters. You should be able to pull pretty hard on the jib halyard and still have the mast raked aft by a fair bit. The lowers should be put such that they not really slack, but no where near as tight as the uppers when there is no vang on.
In a breeze, flatten the mainsail by pulling hard on the out haul, hard on the down haul and setting the vang pretty hard. Mast bend flattens the sail so let it bend. One way is to let the lowers off a hole or two and pull harder on the vang tackle. The strut pushes the mast forward and thus induces a bunch of bend. You can, as a result ease the mainsheet quite a bit and still have a flat sail.

The original documentation for the Nomad indicates a different starting point:
Suggestions for where to place your spreader pins:
The Nomad spreaders are adjustable to allow different settings for a variety of sailing conditions. You should consider what the local weather conditions are (very windy, light, choppy, etc) before you set your spreaders. Spreaders with less sweep (greater distance between the spreaders) will make the mast stiffer whereas spreaders with more sweep (less distance between the spreaders) allow the mast to be more flexible. A more flexible mast will make the mainsail less powerful and easier to control in heavier wind conditions. Where as a stiffer mast produces more power in the mainsail which is better for lighter wind.

Sailing a Vanguard Nomad

2009-08-16T08:52:00.006-07:00

I've been planning a return to recreational sailing for a few years now, and had purchased plans to build a sailboat. However, this past January, the sudden death of a friend & co-worker reminded me of the vagaries of life, and caused me to decide to get out on the water, rather than dream about it.

After reviewing options, I settled on the Nomad, manufactured by the same folks who build Laser sailboats in North America. The Nomad is a 17' sloop-rigged open dinghy which can comfortably seat four adults or six if there are both kids and adults aboard, but can also be sailed single-handed, making it ideal for families. The Nomad is a beamy 8' and is a stable platform for sailing. Although it includes neither trapeze nor hiking straps, the gunwales are wide enough to sit on, if you need to get some weight outboard of the seats. And, for those who sail on the edge, there are available sail floats to prevent the boat turning turtle should you manage to capsize.

The Nomad is easy to trailer to your launch point and one person can set it up in about 25 minutes, so you can have choice of sailing locations, and no moorage costs, OR, the boat is sufficiently stable you can choose to leave it at a mooring.

My only disappointment with this boat has been the distinct lack of wind on the lake this year -- all the locals say it's been unusually calm!

While seeking information about the Nomad, I found little information about the boat from users, so if you have comments or thoughts about the Nomad, please contribute!

Here are some links:

48° North review
Designer's Page
Discussion page. Includes rig tuning info
San Francisco Bay video
Chesapeake Bay video

Is Yahoo Accurate?

2007-08-03T22:05:00.000-07:00

I've been troubled by the reporting structure of the Yahoo Finance section. As described in my previous post, I made a $4000 virtual purchase of a number of stocks on July 1. This 'investment' of some $28,000 currently has a value of $26,596, some $1500 less than one month ago, yet Yahoo reports it as having a $51 increase in value over that period.

As you can see from the above table, my portfolio has not been doing very well, but neither have the markets!

I'll be doing a bit of digging to learn more about Yahoo Finanance in the next while to see if the accuracy can be addressed.

Stay tuned.

Stocks 101

2007-07-13T20:08:00.000-07:00

I've been investigating the stock market and financial issues for the past while, and have made some decisions about investing, but before I fully test the waters I decided to check my resolve a bit. A number of commentators in the blogsphere have been promoting Exchange Traded Funds (ETFs) as the way match (or beat) the market. These index funds are one way to have someone else manage your money for you. However, ever the contrarian, I wrote a reply on Canadian Capitalist's Blog challenging the easy way out.
I've been following the practices espoused by a number of value investors, such as Francis Chou, Tim Burt, and Phillips, Hager & North, and have determined that I accept that philosophy and look to high quality dividend-paying stocks.
As such, I've created my own benchmark of stocks and will follow them into the future. My premise is that there are many great companies with which we are quite familiar and will provide a steady, quality return. Using Yahoo Finance I have modeled a portfolio by "purchasing" approximately $4000 of each of the following common shares on July 1:

Fortis, my electrical supplier
telus, my phone company
CN Rail, because of the whistles that wake me at night
Royal Bank, my financial institution
Tim Horton's, 'cause a day without coffee.......
Teck Cominco, the smelter just over the mountain from here
Shaw Cable, our entertainment provider

On July 6, the portfolio looked like this:

and had already increased in value by 2.5% in the week since created. I'll be updating this portfolio on a monthly basis, so stop back to see how my model performs, and learn if I'm kicking myself for not actually making the investment!

A long absence

2007-06-10T15:29:00.000-07:00

It's been two months since I posted here. I've been making contributions on a number of financial blogs, but most of my time has been spent building a knowledgebase for my professional association and colleagues. As I'm not a programmer, this has provided a very steep learning curve.

We also took a trip to Spokane, WA where we stayed at the historic Davenport Hotel. This hotel is on the US Historic Trust, and is reminiscent of the Grand Railway Hotels of the late 19^th Century. Spokane, like many cities of that era suffered a devastating fire which razed the entire downtown area. The Town Fathers had just installed a system of fire hydrants, but at the necessary hour, the guy with the wrench to turn it on was nowhere to be found!

Due to the fates of the economy, at the time when many cities were tearing down low rise buildings to make way for high-rises, Spokane was in the midst of a recession, thus there are dozens of Victorian and post-victorian buildings throughout the downtown. A walking tour presents many of these. One of particular interest to me is the Spokane Masonic Temple, one of many buildings listed in the Spokane Register of Historic Properties.

Following Lunch and a few delicious brews from the Coeur d'Alene Brewing Company we finished our tour of the downtown, before heading across Spokane Falls via the restored Monroe Street Bridge to enjoy Sound of Music performed by the amateur troupe at the Civic Theatre; a well done performance to a packed house.

Housing Costs

2007-04-10T18:08:00.000-07:00

Although we live in a community some distance from Radium Hot Springs, we, too, have seen an increase in absentee homeowners. As described in this CBC Story, we see both good and bad from the development that occurs as folks look for other lifestyle, retirement, or vacation opportunities. Compared to Calgary, we enjoy a benign climate; while I mowed grass this weekend, our Calgary friends were scraping windshields, and shoveling walks & driveways. The impact is felt in other ways as well. Summer dwellers are less likely than year 'round residents to support the construction of winter or all season recreational facilities, and at times, may support initiatives that interest them only, as they can access their regular needs (health care, shopping, etc.) on their return home. To a small extent, the taxes they pay may also increase the municipal tax base, helping to reduce overall costs. However some costs are unavoidable. Water & sewer systems, roads, and other infrastructure must be built for the maximum use, not the annual average. Schools have reduced in size and offerings, as families move away. Youth employees are unavailable, as those that are present are vacationing, not seeking jobs.

On the other hand, if their interests parallel yours, it is possible to use the facilities they want in their absence. If you are employed in an industry tied to the development of housing, your opportunities are increased -- the need for skilled trades in these blossoming areas has increased the opportunities and wages of all those in the construction trades. Sole proprietors, needing no staff, also have an advantage, as might folk in the accommodations business. What was once a seasonal business based on vacationers, has now expanded due to the construction that occurs in the off season -- your motel room is filler 12 months of the year instead of three or four.

Unfortunately, many non-residents have income far greater than members of the local community. In our instance, the value of our home has increased by more than 55% in the past 3 years. This has placed the current market beyond our reach, and we are indeed fortunate that we purchased a home immediately upon arrival, as had we waited, we would be effectively priced out of this market.

It is also a challenge for small business operators to find staff. If people cannot find affordable housing, they will not move to a community. I can't imagine trying to operate a business such as a Tim Horton's, Home Hardware, or other small business when your staff need an hourly wage of $20 or more to afford to live in the area. I have heard that businesses in Invermere, just south of Radium, run a daily bus to transport staff from Cranbrook, an hour and a half away. This allows them to draw from a labour pool already settled in a somewhat less expensive town. However, I'm not sure that I'd want to be commuting on a bus daily instead of the 20 minute walk I now enjoy.

Rite of Spring

2007-04-06T12:07:00.000-07:00

Today marked the ceremonial First Day of Spring at our place -- the first mowing of the lawn. Although there's lots of brown spots yet, as the raking is not yet complete, the grass was about 5 inches high in the corner where I spread the horse manure two years ago. I've also come to the conclusion that much as I hate raking leaves of deciduous trees in the fall & spring -- the detritus of conifers is much worse! The extraction of the mower, and the carefully choreographed path around the yard will be a weekly ritual for the next few months, until the heat of summer turns the lawn brown. The dance resumes in late August or September, with the cooling of the days, and a fresh spurt of growth before fall arrives.

Taiwanese Lantern Festival

2007-03-26T19:08:00.000-07:00

Saturday we viewed the Taiwanese Lantern Festival in Kimberley. We were joined by one of my High School buddies, now living in Calgary, and his wife, for the experience. Our Member of Parliament, Jim Abbott, was responsible for getting this started, and I am sure that many who would not be able to travel to the usual venues, were able to enjoy this display. Wiki states: The Chinese Lantern Festival is the last day of the traditional Chinese New Year celebration period. The Lantern Festival is also known as the Little New Year since it marks the end of the series of celebrations starting from the Chinese New Year.

This was a wonderful display of the craftsman's art. As we were leaving, we likened it to a display of larger-than-life three-dimensional stained-glass sculptures. For this display, the caricatures were cloth over a wire frame, lit by small electric bulbs, though the originators would have used bamboo and coloured paper, and candles or straw. We saw symbols of each Chinese year, flower gardens, underseascapes, as well as various characters of folklore. My favourite, though was the lily-pad pond. There were flowers, leaves, and a frog spread across the room in a most realistic manner.

The history of these in Taiwan apparently is traced to a time when the inhabitants of a particular village left seasonally for the hills. Early in the season, the men would travel to the village site, and release hot air balloons or lanterns heated with kerosene soaked straw. Those that did not burn, rose into the night sky, letting the village-folk know it was safe to return.

Also presented was a video about the history of the country, from it's beginnings to it current economic position in the world. I found it interesting how they addressed their relationship with mainland China.

Well worth seeing!

2007-03-26T18:58:00.000-07:00

I've left more comments on Million Dollar Journey's Blog. This time, about the Smith Manoeuvre, an interest deductibility conversion process. You can view comments 42, 45, 50,& 57, if you wish.

Comment on Canadian Capitalist Blog

2007-03-13T21:00:00.000-07:00

I left a comment on Canadian Capitalist's Blog this evening:

....Your comment caused me to do some research (usually a good thing) so I wanted to compare the Index performance to a few common shares:"

Comment on Investing Intelligently Blog

2007-03-11T13:59:00.000-07:00

Today, I left the following on Investing Intelligently Blog:
"....I’d have to agree with David Trahair on this one. While investing early as Dave indicates, will provide a sizeable retirement income, and the financial discipline will aide you in many avenues of life, planning your retirement lifestyle when you have yet to reach 30 is a little premature. Life can toss so very many twists in the road......"

Kids and Money

2007-03-09T18:13:00.000-07:00

I'm not sure why I'm blogging on this topic, as I don't have children, but it's my blog, so I can say what I want! Teaching one's children about the responsible handling of money is done in many different ways by parents. No matter your beliefs on the topic, whether allowance, earnings or gifts, your child will have money pass through their hands as they grow. I've found two websites that have products that should help parents teach their children about the handling of money.

Prosperity 4 Kids has a number of learning resources including the Money Mama and the three little pigs ceramic bank.

Money Savvy Generation as part of their educational program, offer coloured banks, of transparent plastic.

Both offer a wealth of educational material for teaching children of all ages about money management. Money Savvy Generation also offers a 'portfolio' for teen-agers to encourage them to plan their financial future, whether it be the newest gadget, prom night, or post secondary education. Each of these banks promote four avenues for expenditures; saving, spending, investing, and donating. The inclusion of a donation (or tithe) section has apparently generated a very positive response among children, which seemed to surprise their parents!

I've now got an idea for birthday gifts for the youngsters in my life!

The following Comments were earlier added to this blog entry:

Vicky said...

The first link is okay, but assumes that kids possess a certain mathematical ability not always found in all ages. Not only that, these banks presume that the child has the right change, which in turn puts the onus on the parent to provide the allowance (or the grandparent to provide the gift) in the right break-down.

Now, you don't have kids, so you don't realise that such a setup creates one more "thing to do" in the run of a day.

We've simplified it. Katherine has a piggy bank and can spend anything in it. Each Saturday, if she cleans her room, she gets $2. $1 she can keep and spend or save for something bigger (she often does this) and $1 she must bank at the actual bank. Since we go there weekly anyway, it's become her part in the family routine.

Charitable donations we do in larger chunks, such as a present for the wish tree, a donation to an animal shelter or time spent doing something for a charity.

Money saved for the long term means nothing to Katherine really, other than one thing we do as a family each week. The habit is what we're gunning for. Half and half seems easy for her to understand numerically and viewing the bank is a place that you put money into as a concept is working for her. Besides, let's face it, kids don't really need to spend 70% of their income. Until they actually start having real expenses, they can learn to save more.
March 9, 2007 9:50 AM
Vicky said...

I meant to add that the second link seems better to me. The product is simpler and more intuitive.
Cheers!
V
March 9, 2007 9:56 AM

Comments on Investing Intellegently Blog

2007-02-27T17:46:00.000-07:00

My comments about RRSPs were expopunded upon at Investing Intelligently today. Essentially the discussion surrounds which is better RRSP investments, or non-registered investments. The answer depends on the fate of the refund....

Check it out!

Spring is Sprung

2007-02-20T18:00:00.000-07:00

The grass is rizzzz
I wonder where the mower is?

The south facing courtyard outside my office is a real sun-trap, and the folks from the extended care facility adjacent were out enjoying the weather. You can see the blanketed feet of one of the residents at the upper right of the photo. She was wearing a sun bonnet, and snoozing peacefully when I took this photo on Friday.

Adding opinions at other blogs

2007-02-20T07:45:00.000-07:00

I've been opining on financial matters on a few other blogs this week. Here are a few:

Investing Intellegently Registered vs. un-registered investments

Canadian Financial Stuff Woulda, Shoulda, Coulda bought Tim Hortons, but didn't.

Canadian Capitalist Leveraging the equity in your home to build a stock portfolio.

Spring Weather

2007-02-18T15:23:00.000-07:00

Winter here in the valley is dominated by overcast weather, much of it caused by the river and lake which moderate our climate. Spring brings a greater number of clear days, and even when the outside temperature is in the single digits, our living room warms considerably. At the time this picture was taken, the sun had warmed the house from 14C. In addition to seeing the 23C temperature, you can see the beautiful blue skies reflected in the thermostat glass.

Retirement Planning

2007-02-18T14:29:00.000-07:00

RSP season has generated a fair bit of commentary on two of the Blogs I follow. Frugal Trader at Million Dollar Journey has posted a number of items on his financial plans for retirement. From his calculations, it looks like he won't be needing the million dollars.

Canadian Capitalist has also been discussing this topic, with a number of posts including when to contribute, when to claim your deduction, and some instruments to avoid.

Personally, I've decicided to cease making contributions to my RRSP, and instead begin to look at un-registered investments. Our immediate goal is to further reduce our mortgage amortization. Over the past three years, we have reduced our amortization from 25 years to 12. I'd like to reduce it below eight years, by the renewal date in Feburary 2009, as the mortgage would then coincide with my early retirement date.

To RRSP or Not

2007-02-10T22:05:00.000-07:00

Advertising for this RSP season is in full swing, and the perennial question arises as to the best use of excess funds. So-called 'tax experts' make various recommendations either to pay extra against your mortgage, or contribute to your RSP. There really seems little consensus on this, however, the majority, who suggest increasing your RSP, lack independence, as they sell the product. Although I had found some contrarian advice the pat answer becomes "buy the RSP, and pay down the mortgage with the return." This seemed to be appeasment, as unless you are able to fully fund your RSP from income, there are ways to maximize your RSP contribution, if that is your financial goal. However, as I have an employer-sponsored pension plan, my goal has been to reduce my mortgage. I feel that not only is the reduction of the debt important, it is also a solid return on investment, as I never have to earn the cash to pay the saved interest. I have found a comment that finalizes this topic. Larry MacDonald has discovered that the returns claimed for RSPs are often not realized by investors. Thus the guaranteed 9% to 10% return I see by prepaying my mortgage can be compared to about 4% realized by many investors. So, unless RSP is purchased solely for the tax deduction (a very poor financial practice), reducing mortgage principal makes great financial sense.

It's nice to be validated!

Current projections will see us holding a mortgage burning party before its' 15th anniversary.

Canadian Financial Stuff Blog

2007-02-10T10:31:00.000-07:00

I've left a comment on one of the other blogs I read on the topic of living within one's budget and saving for a financially secure retirement. Canadian Financial Stuff Blog and my comment can be found by using these links.

Spring?

2007-02-05T18:31:00.000-07:00

While looking on the Weather Network page, I noticed that the long term average high temperature crested the freezing mark this week. So, although we can expect more freezing temperatures, in a few weeks the average daily temperature should be above zero, at which time the snow should really start to disappear. Golfing should start in late March. However, local lore says "Don't plant tender vegetables until the snow is off the 'X'." The 'X' being a formation on the face of the mountain guarding the east side of the valley. Since we've been here it seems to occur around Victoria Day weekend -- the traditional planting time in each community in which I've lived.

High Interest Savings Accounts

2007-02-04T08:27:00.000-07:00

Every so often while perusing financial blogs I see a reference to high interest savings accounts. Most seem to reference US-based services, however, a quick search for Canadian equivalents provides two sources of such lists one at Canoe.ca and another at MSN. The best rates are offerred by the virtual banks, with Achieva Financial and Outlook Financial, both located in Winnipeg, Manitoba offering the highest rates of 4.10%. This is a rate nearly 20% higher than the well marketed ING Direct account currently offers.

Both of these financial institutions are expansions of Credit Unions in Manitoba. Does this mean that Winnipeg is set to become Canada's V-bank centre?

Rye

2007-01-27T19:28:00.000-07:00

Bread, not whiskey!

I've been learning to bake bread, and like many, have had difficulty finding a recipe we enjoy, and is easy to make. We were given a food processor for Christmas in 2005, and it included a recipe for white and brown bread. The white bread recipe was horrid, the brown, little better, and I'd almost given up on the idea. One day while strolling through the supermarket, we found rye flour on sale. Never one to ignore a sale price, we bought a bag. Then to the internet and recipe books to find a suitable recipe, but, alas, all seemed to require a sourdough process, which I was less than enthuiastic about. Further digging on the internet, found a recipe that used buttermilk to sour the bread, so I returned to the supermarket for the necessary ingredient. Being familiar with the ease of using the food processor to knead the bread, I converted the recipe to fit, by mixing the dry ingredients together, and splitting the liquid into 3 aliquots. The three batches are combined in a large bowl, prior to final kneading.

I've made a number of batches of this bread, with variations -- the best so far has been to substitute Laughing Dog Brewery's Sweet Stout for the water in the recipe. The most recent attempt appears below:

Heat pump revisited

2007-01-26T16:27:00.000-07:00

We're learning some of the differences between our previous natural gas furnace and our new dual fuel heat pump. A properly sized heat pump does not provide the same amount of heat (Btu/h) as does either a natural gas or oil furnace. Our unit raises the return air by about 8 C , delivering air to the 20 C room at about 27 C. When the auxillary heat cuts in, the delivery temperature rises to about 42 - 46 C, heating the house more quickly, but at a higher cost. Our old furnace raised the temperature by about 30 C to 50 C, so you can imagine these extra Btu's would warm the house faster.

Although many suggested that we should not lower our thermostat as far with the heat pump as we did with the furnace, we tried it anyway, as we like a cool overnight temperature. This caused the unit to come on very early in the morning in a vain attempt to warm the house to a comfortable temperature for the two of us to shower, etc., each morning. I quickly realized that heating the whole house, just to make the bathroom comfortable was rather wasteful, as we're out of the house in fairly short order each morning. The solution I decided upon was to install a small, 500 watt electric baseboard heater in the bathroom, controlled by a programmable thermostat. Now, as long as we remember to close the door each night, we awake to a toasty warm bathroom, while the rest of the house remains at 14 C until mid-afternoon, when the heat pump raises it to 20 C.

The one downside we've noticed is the bathroom mirror fogs more easily in the closed room with electric heat, than it did with the circulated air from the furnace or heat pump.

Robbie Burns

2007-01-25T21:06:00.000-07:00

The past week has been a busy one for travel. A number of the local Masonic Lodges have hosted a toast to the Scottish bard. At each, following the piping of the Haggis, is the highlight of the the evening, a recitation of Burns' "Address to a Haggis." At two of these events, a Scot, with full brogue, did the honours of dispatching the Haggis in fine form, however, in my opinion, the Address offered by a Brother of Czechoslovakian descent was by far the most theatrical. He did a truly magnicificent presentation!

For the uninitiated, haggis is a sausage product, made with organ meats, oatmeal, onion, suet & spices, placed in a sheep's stomach, and steamed or boiled. It would have been traditional food for many Scots in the mid-18th century, as many tenant farmers scraped a meagre living from the farms they rented. It is traditionall served with turnips and pototoes, two other readily available foodstuffs that grew and could be stored fairly easily in Scotland's climate.

The Wikipedia contains a useful entry on Haggis and Burns' Suppers if you wish to learn more.

Minor house improvements

2007-01-25T20:48:00.000-07:00

It's interesting the things that happen, or don't around a house. We have 'owned' our 20-year-old house for three years now. Due to the basement being consumed with an apartment suite, the closet in the main hall contains the laundry. While there is a convenience to having the laundry nearby, there was no suitable place to hang coats, other than a small closet (now used as a pantry) in the kitchen. So, after 3 years, or twenty, depending on your point of view, of hanging coats on door knobs, and newel posts, we finally have coat hooks in the front hall!

The project was simple enough; a length of oak, a dozen hooks, some stain, and 24 hours of elapsed time was all it took to design, create, and install this useful accessory.

I should have done it 35 months ago.

Heat Pump

2007-01-09T18:31:00.000-07:00

We decided to replace our furnace & A/C this year. The A/C was not cooling the house, due to air velocity issues, the furnace was 20 years old, and I was concerned about it's safety. I called one of the highly-recommended HVAC guys, and his suggestion was a "dual fuel package unit" as there was limited head room in the crawlspace to install a conventional furnace. This is a combined heat pump and gas furnace. For most of the heating season here, a heat pump can meet our heating needs, and of course provide cooled air in the summer. On this unit, the balance point (where the heat pump switches off and the gas furnace supplies the heat) is selectable based on outside temperature, equipment efficiency, and the relative costs of electricity and natural gas.

This unit sits outside the house, and ducts extend through the walls of the house in to the crawl space, connecting with the original ductwork. We hope that this unit will address the air flow issues we experienced previously, and make the house more comfortable.

I have not done a complete cost analysis on this unit, and have not determined a 'payback' time. Since we were not satisfied with our previous heating and A/C setup, and I had concerns about the safety of the furnace, we were looking at a replacement in any case. Our space heating costs are about $700 per year (we lower the heat in the house by about 7 degrees C from 9:30 each evening to 3:30 each weekday afternoon), so even if we reduce our heating costs by 50%, I expect it will take many years to recover the price of this installation.

The installation went (almost) flawlessly today -- one of the formed pieces of duct was improperly fabricated, and a large roll of duct tape was consumed in temporarilly bridging the gap. Red Green would be proud. Hopefully it will remain intact until the replacement arrives. As we disassembled the old furnace, we discovered the reason for its' poor performance. The inside of the A/C evaporator which is well hidden and unreachable, was about 50% covered with what looked like a thin layer of paper-mache. Whatever this was, it considerably reduced the airflow, impacting the heating, and the air conditioning. Lesson: check your heating system regularly!

Compact Fluorescent Lights

2007-01-09T08:10:00.000-07:00

We've recently installed CFLs in our house. While the energy savings of these units are one compelling reason for installing them, their longevity initially attracted me. I'd replaced a number of bulbs in the track light in my computer room, and was frustrateed by the frequency of replacement. While looking at options at the local hardware store, I found reflector-type CFLs that were similar in shape to the bulbs that were already in the track light. I replaced these about a year ago, and found them to be more than satisfactory. As other incandescent bulbs in long burning fixtures expired, they have been replaced with appropriate CFLs. In addition to the computer room (3), our hall (4), crawl space (4), basement suite (4), and kitchen (4) all are now using these bulbs. The next step is to address our porch lights, as they, too are lit for long periods of time, however, they have a motion sensor activated dimmer, and CFLs are not well adapted for that use.

Lastly, our local power utility offers to rebate 50% of the purchase cost of thes bulbs, so the combination of the rebate, and the energy savings should more than pay for the costs of acquisition.

Canadian Capitalist shares a similar view, and describes an Ottawa initiative to increase consumner awareness -- Project Porchlight

Housing Assessment Increase

2007-01-07T18:02:00.000-07:00

When we moved to our new town in south-eastern BC, we decided to re-enter the housing market. We purchased a smaller house with the amenities that were important to us, a south-facing deck, large kitchen, and level lot. As an assessment of the housing market had been part of the research prior to my job bid and our move, we were able to choose a location that fit our finances, as well meet our other needs. Our area has long been chosen by retirees, due to the climate, and now is seeing more pressure from Vancouver and Calgary citizens who are looking to retire, or own second homes. We have also seen a ripple effect, as folks formerly living in towns closer to the aforementioned large centres took advantage of the increasing interest in, and prices of, their properties, and have moved here. Using the BC Assessment notice with July 2003 as a baseline, our home has increased in value by some 55% in three years! Looking at the value of my former home in northern BC, it has increased only 30% in value since 1993. Now, if I could find a way to capitalize on the value locked in our house.....

For those unfamiliar with BC Assessment, housing is assessed at the price it would be expected to fetch in the marketplace if sold on July 01 of each year.

Ainsworth

2007-01-07T15:27:00.000-07:00

Well, I'd hoped to have pictures of our trip to Ainsworth Hotsprings, however, the weather was not at all cooperative -- it snowed the whole time. Ainsworth is interesting in that it was built by a mining comany, and one of it's major attractions is a horseshoe-shaped tunnel carved into the hillside of the hotspring. The floor is of varying depths, so the experience is somewhat like sitting neck deep in a hot tub, surrounded by a sauna. From a natural history perspective, it was interesting to see how rapidly the dissolved minerals in the water have formed stalictites and other forms on the roof and walls of the cave, but end precipitously at the water's elevation.

We spent two days jogging between a slightly too warm cave pool at 108 F, and a slightly too cool pool at 94 F. Never did find Baby Bear's pool, which would have been 'just right'. Winter is the best time to enjoy a hot pool, as the comfort of being warm while your hair freezes, and the snow swirls around, is an experience not to be missed, however, we did pass the opportunity to venture into the 36 F plunge pool; we'll wait 'til summer for that experience! Between our lounging in the hot pools, we also lounged in the Lounge, and over ate in the Dining room. Travel to and from the resort included driving a portion of the "International Selkirk Loop", a ferry ride on the Osprey 2000, billed as 'the world's longest free feryride', and views and vistas of a spectacular winter wonderland of snow laden trees, and soaring eagles.

A highly recommended leisure experience.

First post

2007-01-03T19:33:00.000-07:00

Here's my first foray into this part of cyberspace. I've maintained simple webpages before, and this is an experiment to see if this format is simpler to maintain.

David