Lent has begun (it started on Wednesday), and what are you planning on doing for Lent (in terms of your finances)? You can go simple with the pledge to bring your lunch to work (instead of buying lunch) and put the money into a savings plan of some kind, or you could read more things about money to have a better understanding of how things work, but do something, it is the perfect time to try a 7-week experiment. Maybe try exercising more, or park your car further from work so you have to walk farther? No need to get too complicated just try something new.
The Frigid Winter of 2015 continues on with no day in February (in Ottawa) going above Zero (Celsius). Maybe the Rideau Canal will be open in April this year? It looks like it will assuredly be available in March. We really could use some more heat here.
Last week the value of Apple (the technologies company not the fruit) was over $700B which is actually more than Switzerland (the country) is worth. Interesting how a once almost-broke Tech Giant can rebound like that. Rumours of Apple either setting up an Electric Car division or buying Tesla outright persists, which means Electric cars will need to add a “Hipster” mode to their usual “Eco” and “Sport” modes.
The Canadian Flag turned 50 this week as well, I think it’s a pretty cool flag. I am proud of our flag.
I hope your RRSP Season is going well, I still haven’t found any RRSP Carols or what I should hang on the door during this festive financial phase of the year.
My Writings for Week Ending February 20th
Did you enjoy pancakes on Tuesday? I did, I do like Shrove Tuesday :
- I sent out the winning e-mails for the Turbotax Contest and Quick Review, you must really be careful with the “clear” button, in Turbotax you will create many issues if you accidentally hit it.
- The flood of bills that comes to me every month has now changed and I must check in many places to make sure I pay on time and it is easily turning into Bill Notification Overload.
- It is now the Lunar Year of the Horned Mammal (i.e. Goat, Ram, Sheep, etc.,) celebrate, good times, c’mon!
- RRSPs, Valentines, 50 Shades of Debt and #BestOfThisWeek
This Week’s Finest Financial
Mark from the Blunt Bean Counter goes back to the basics of accounting for you entrepreneurs wondering how to share your money with your family, Discretionary Shares A Tool In Your Income Splitting Toolbox, shows you how you can do this. Income you say? Million Dollar Journey brings us a Net Worth Update February for Sean Cooper, who has a modest income but excellent wealth. Accounting was the subject and Mark from 2nd Career Search shares Tax Time Again – Owning a Business Rocks, in Canada I don’t get to deduct as much.
What the heck is Barry Choi at Money We Have thinking during RRSP asking Should you Avoid Your RRSP? Actually he makes some good points though. Larry MacDonald writes again in the Globe and Mail about Retiree’s Adventurous portfolio holds only stocks? Where does Larry find these interesting folks? Goodness that is a wild man! Another RRSP story from Mark at My Own Advisor, There are Worse Problems to have in Retirement, and he is right, there are worse problems than the one he described. Evelyn Jacks chimes in on the RRSP or TFSA argument with No Time to Waste: TFSA or RRSP, and of course the answer will not surprise you.
Marie from Boomer and Echo wants to help us by Making the Most of Our Costco Membership, I get a fair amount out of mine (and cheaper cheese, batteries, gas and vitamins). Buzzfeed brings us an interesting and poignant story about When Children with Autism Grow Up.
Michael James wants to help you understand Index Fund Investing, with An Indexer Answers Investing Questions, remember MJ was an active investor (and fairly successful), but has moved to the passively dark side of Index Investing. The Canadian Couch Potato brings Index investers some useful information with iShares Expands Its Core ETF Lineup.
Deep Thoughts
First Preet gets down to it during this festive RRSP season explaining how RRSP’s lower your income:
Next, Cookie Monster shares some very deep thoughts (while not financial still very deep)
Facebook Fun
and a pretty good tweet as well:
My Twitter feed is where I re-tweet many great articles by some of my featured writers (and make the occasional odd or off colour commentary on life (in 140 characters or less)).
I like to think of passive investing as the light side, but I guess everyone sees it differently. I was a little surprised about Apple being worth more than Switzerland — it’s actually that Apple is worth more than Switzerland’s annual GDP, which is different. I’m certain it would cost a lot more than Apple to actually buy everything in Switzerland. Thanks for the mention.
But maybe Apple wants to buy it? Don’t think I could have a Toblerone if it had that damn apple on it… 😳
Heh,
I try to stir the pot in the personal finance world. Thanks for the mention.
At least you are not espousing the use of Pay Day Loans (like most of the commenters in my SPAM folder)
Preet’s video is great. I also enjoyed Cookie Monster’s video. Thanks for sharing.
“… a lobster is a mermaid to a scorpion…”, that is some deep thinking….
Really enjoying Preet’s videos, I need to embed more of them like you do.
Crazy that the Canal could remain open until early or mid-March this year. That has to be a record.
Take care and always appreciate the mentions BCM!
Mark
I just hope the canal isn’t open in May!!! 😵