The business of university fees gets more and more complicated, and this death by 1000 fees, keeps expanding, to include more and more “optional” fees. Do you have to pay them? No, however, to opt out of them is not an easy task either.
Electricity prices continued to drive inflation across Canada in June 2016
According to our friends at Stats Canada more Canadians are in Pensions (up by almost 1.2%), which surprised me. This would suggest all this palaver and gum-flapping about Canadians not having enough money to retire was just Media over-reaction, however if you read the report a little closer, there is a telling statement:
In 2014, just over 4,380,000 employees were in defined benefit pension plans, down 0.5% from 2013, and down 8.3% from a high of 4,776,000 in 1992. Defined benefit plans accounted for 70.0% of employees belonging to an RPP in 2014, a drop from 71.2% in 2013, and down from over 90% in the 1980s.
So the Defined Benefit Pension Plan is slowly dying off (except in the Public Sector) and the Defined Contribution (and the hybrid mutations of that concept) are where there is growth. This makes more sense, most private sector companies cannot afford a defined benefit pension system (whether the Government can afford their pension system remains to be seen).
For those of us with kids, that aren’t making too much, the new Child Tax Credit (CTC) just kicked in. The good news it is tax-free, but if you make too much money, you get nothing. There is an old (but still helpful) video from Preet about this exact topic at the end of this article.
In summer mode, I am actually accumulating more unfinished titles in my writing pile, but What is Couch Potato Investing? came up as a question a co-worker (who is an occasional reader) asked me what it meant, and to my surprise I have talked about the topic a lot, but I have never really given as simple overview of what it meant, so there it was. I have written about the concepts of Couch Potato investing, but this article let’s folks understand the basics (I hope).
Given Mr. Trump is now the Republican Candidate for the President, I have been researching some of his more interesting quotes, I like this one from “Trump University Entrepreneurship 101: How to Turn Your Idea into a Money Machine”
If you’re not satisfied with the status quo in your career, read this book, pick one key idea, and implement it. I guarantee it will make you money. —Donald J. Trump
I am reading the book for free on-line, so I feel I am already ahead of the game (i.e. I saved money by not buying the book).
Read More »More Pensions, New CTC, and #MoneyTalk
What is Couch Potato Investing? Surprisingly you need neither a couch or potato, it is passive investing using Index Funds or ETFs. It isn’t lazy investing, you do need to get off the couch occasionally, but it is lower work than checking the markets every day.
The Bank of Canada’s opinion is that Brexit is going to hurt the Canadian Economy (and its possible recovery) this year, which isn’t really news, but it is an interesting observation. This and a bunch of other information was reported by the Bank of Canada, when they reported they will not be doing anything to their key overnight rate. The Canadian economy continues to be in a very fragile state, and raising interest rates is unnecessary (or ill-advised, depending on how you read the report) at the moment. There exact statement was:
Inflation in Canada is on track to return to 2 per cent in 2017 as the complex adjustment underway in Canada’s economy proceeds. The fundamentals remain in place for a pickup in growth over the projection horizon, albeit in a climate of heightened uncertainty.
We do seem to be living in very uncertain times.
So far we have no lock out or Postal Strike, while they keep talking, but should you really be waiting for the fat to hit the fire? Remember to sign up for Direct Deposit with the Government (although allegedly those cheques will keep going?). Get your bills delivered by E-mail as well (most of your major bills will do that). For your packages, well that might be an issue.
As a practicing Anglican, I was appalled to see that when a motion at Synod (think of Church Parliament) is either defeated or passed by a single vote, there is not an automatic recount. While Anglicans are nice folk (in general), we do seem to have some very odd ways of dealing with issues.
What will Oktoberfest do now? Evidently Polka King Walter Ostanek won a lottery grand prize of $1M, who will be playing Roll out the Barrel or Too Fat Polka in Kitchener in October? Someone call Uncle Franz! Ach, du lieber Gott in Himmel !
I am slowly getting through my archive of nearly started articles (still over 220) and My Four Best Investments was written on the way back from my daughter’s graduation from Trent University. This isn’t meant as a jab at those who choose not to subsidize their kids post-secondary education, just that if I hadn’t invested in my kids’ education, I most likely would have blown it on something else.
Preet has been busy this week and he has a new white board session outlining why 0% financing on your car might not be your best deal. I buy used cars, and you never get 0% financing on those.
