10 Day Investment Account Transferrals
How long should account transfers from a bank to another institution take? For me it was about 10 days, which seemed a bit long, but read on.
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RDSP , New Mortgage Rules Hurts Economy and #MoneyTalk
This week I start with another big Thank you to Mark Goodfield for posting another helpful overview article (written by Howard Kazdan ) entitled, The Registered Disability Savings Plan A Government-Assisted Savings Plan for Family Members that Qualify for the Disability Tax Credit . I have written a great deal about my misadventures with this program, as well as my issues with TD Direct Investing (still the best RDSP out there, unfortunately), but this overview is a good read for anyone wishing to get a few hints to help out a disabled loved one (financially). Remember to read the Henson Trust Article as well.
The 3rd US Presidential debate happened nuff said.
There are dire warnings that the new Mortgage rules are going to hinder young folks ability to purchase houses, however, as usual Michael James had an excellent tweet in response (see the financial tweet area for that chestnut). The government seems to be attempting to gently let the air out of the bubble, we shall see whether it pops in spite of the gentle treatment.
The Bank of Canada announced that it is maintaining its target for the overnight rate at 1/2 per cent, which is nothing new. The reasons why are always interesting, so let us peal that onion a bit more. Interesting that the new house buying rules are mentioned in this report as well,
This is due in large part to slower near-term housing resale activity and a lower trajectory for exports. The federal government’s new measures to promote stability in Canada‘s housing market are likely to restrain residential investment while dampening household vulnerabilities
Interesting that the Bank is almost scolding the Government for bringing the new housing rules in place? Maybe not, scolding, but pointing an accusatory finger.
My Writings for the Week Ending October 21st
Having watched the happenings down south, I had a small epiphany about how voting and financial planning are pretty darn similar (at least how we implement them), so I wrote, We Invest the Way We Vote . I have read a few articles that simply telling to populous to vote, without telling them to make an informed vote, is at best reckless at worst dangerous, and after watching what has gone on in the Republican Party, I think the theory is valid. Become informed on the topic, before executing!
New Mortgage Rules All Bad?
I think Michael James makes an interesting point with this simple tweet.
We Invest the Way We Vote
I am not sure if this is an expression said by someone, but this seems to be the case. I am not calling out my friends to the South either, Canadians (and everyone really) are… Read More »We Invest the Way We Vote
Henson Trusts, RDSP Gripes and #MoneyTalk
For my regular readers you know I am a big fan of Mark the Blunt Bean Counter (even if he is a rabid Leafs fan), and a while back he dropped me a note that he was going to be publishing an article on a topic I had asked him about a while ago, Henson Trusts. Mark said he knew a bit about them, but didn’t feel comfortable commenting on them, but did find someone who did a great job explaining another way for families of disabled loved ones to take care of them (financially). Mark got Katy Basi to write Estate Planning for Disabled Beneficiaries – Henson Trusts , and it is a great read. Next week Mark will be touching on another important topic (near and dear to my heart) the Registered Disability Savings Plan (RDSP).
Speaking of RDSPs, this week I wrote about another annoying session with TD Direct Investing attempting to put money into my son’s RDSP, and naturally I wrote about it in, TD Investments RDSP Continues to Annoy. I am just flabbergasted by how the system works, and as Michael James pointed out (in an April Fool’s article) this may actually be a Deposit-Only Bank Account (i.e. I will never be able to get the money out of the darn thing). The added annoyance from previous posts about the account I only learned about because the young lady I was speaking with said, “Oh, I remember, with that type of account I have to…”, read the article to find out what the “…” entailed.
The only comment I can make about the fiasco that is the US Election is,“… people in glass houses shouldn’t throw stones …” . That’s enough on that topic, let us hope it is over very soon, or that there are more Blue Jays games to watch instead!
Read More »Henson Trusts, RDSP Gripes and #MoneyTalk
RDSP Providers : TD Investments Continues to Annoy
In terms of the best RDSP Providers the TD Investment account is currently the best in terms of flexibility of investments, however the interface is bad.
