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CPFC16, Black Friday, Mortgage Hikes and MoneyTalk

Where might you find me this weekend? Surprisingly, I will be at #CPFC16 with a bunch of other Financial Writers, Bloggers, and Industry Folk talking MoneyTalk (and Mortgage Hikes). It is always interesting to put faces to writings (as I am sure it is for a lot of folks when they meet me). Hoping to touch base with many friends (note I didn’t say old) and make a few new ones as well.

Black Friday
It’s Really Black November these Days

Black Friday is coming next week, with American Thanksgiving on the 24th. What does this mean? For Canadians, not as much as it used to mean, if you can find any deals, you will be lucky. I wandered around Best Buy and they are ready for an influx on Black Friday, but the deals don’t make me want to squander my money just yet.

I note the sun has been rising these days, so the world has not quite ended with Mr. Trump’s election, but it is a much more interesting world (and that is an understatement). One interesting theory I keep hearing is that Mr. Trump is purposely trying to get impeached or thrown out, we shall see if that is a valid theory.

Sounds like Amazon may be extending their Video Streaming capabilities to Canada soon (if you believe tweets by Jeremy Clarkson). Another competitor for Netflix? Not likely, but you never know.

Yes, the Banks are upping their Mortgage rates, as I predicted (6 years ago)! Now might be a good time to lock in for a while, given it might give you a bit more peace of mind? The Bank of Canada hasn’t changed anything yet, but this might be a harbinger of some kind? Bank of Canada will remain quiet until December 7th on the topic of Interest Rates.

My Writings for Week Ending November 18th

After having a lunch with some prominent financial folk (aka the N.C.F.B.A.) I was inspired and wrote two articles this week. It was sad to read about the death of Leonard Cohen, but I also remembered his financial issues, so I joined the two with Leonard Cohen a Cautionary Retirement Story. Are you sure your retirement savings is safe? I would go check just in case.

The American elections now has reached the blame game and with that, folks are suddenly realizing how simple it is to manipulate Social Media (I know how to, I simply, choose not to), however I outline some things in Fake Money News and other Manipulations. What I forgot to mention was the authors of these less than truthful stories also make money from you coming to their unscrupulous sites too! To quote Yakov Smirnoff, America, what a country!

A Money Thought

I actually stole this one from Crazy Ideas on Reddit, and it seems to have been well received. I would watch those documentaries as well. How do you submit ideas to Netflix ?

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roller coaster markets

Grating America, Shocking Mornings, Making Debt Great Again and #MoneyTalk

To quote that noted newscaster Kent Brockman, without knowing precisely what the danger is, would you say it’s time for our viewers to crack each other’s heads open and feast on the goo inside?.

I have read and heard stories of the impending apocalypse and such, thanks to President-elect Trump’s policies. However, I am more concerned about the Angry Old White Man Party (aka the Republicans) now being able to run the table. It would not surprise me if, at the end of all of this, Mr. Trump ends up being the voice of reason (yes, I threw up a bit in my mouth typing that), in the Grating America.

Kent Brockman
Dire News From Washington and Kent Brockman

For those who did not wake up a cold morning in 1975 to find the PQ in power in Quebec or a dark October morning in 1990 when Bob Rae became Premier of Ontario, the only advice I can give is, Chill out for now, and watch closely at what happens. No one can say for sure what will happen, and if they say they know, they are probably trying to sell you something. I do like the #CalExit folks, given that California is the 6th largest economy in the world.

Meanwhile in Canada Canadians debt load increases (according to TransUnion). To quote our friends at Transunion:

Canadian consumers saw average non-mortgage debt balances rise by 2.3% between Q3 2015 ($21,195) and Q3 2016 ($21,686).

Note that this is non-mortgage debt as well, so yes, maybe Mr. Brockman was asking the right question?

So one of my new tricks these days, is to combat the deluge of really great deals that arrive in my mailbox (Canada Post), I have taken to saving the really great deals (and coupons), for a special task. Any time I get a great deal (like the new CPP upgrade program, that looks like a Government program, but comes in a blank envelope) with a paid postage return envelope, to say thank you, I put some great coupons and deals in this envelope and mail it back to those helpful folks.

Yes, it is Juvenile, but that is who I am.

My Writings for the Week Ending November 11th

Another more quiet week from me, but I did write one thing to help parents out Helping Kids With University Costs, Idea #214, for those of you thinking your kids will be able to leave home to go to University. Day to day living expenses for your kids, if they are not at home, really do add up.

Toblerone the Christmas Grinch

Really Toblerone? Really? I may be boycotting my favourite Christmas candy. #BoycottToblerone #BoycottTheValley

Read More »Grating America, Shocking Mornings, Making Debt Great Again and #MoneyTalk
Understatement

Curses Broken, Doomsday, and #MoneyTalk

Holy Cow! (to quote Harry Caray) the curse of the billy goat that was on the Chicago Cubs, has finally been broken (yea curses broken), and I am glad to see it. I remember the 69 Cubs with Billy Williams, Ernie Banks, Ron Santo and crew making a run for the playoffs and then getting it all derailed by the Miracle Mets (yes, I am very old), so I was happy to see the Cubbies finally winning it all. It seems to be giving new hope to Blue Team fans as well.

Some think that Doomsday may be much closer after the Tuesday elections in the United States. For the record the Doomsday clock stands at 3 minutes to Midnight, so there isn’t much more wiggle room here, in terms of the big boom”. Let us hope cooler heads prevail, and whatever happens on Tuesday, it doesn’t create the Biblical Apocalypse that some have promised.  In other good news, the new Russian Satan II Missile can’t wipe out Texas or the UK as previously advertised (well, not just 1 of them).  Reading that helped me sleep better (sarcasm).

Understatement
Just Saying

Evidently there is no such concept as a No Fault Divorce From Europe as the UK PM is finding out. Should be interesting to see where this winding road of interesting quandaries leads.

My Writings for the Week Ending November 4th

What Do Investors Complain About the Most ?Inappropriate investing strategies seems to be a big one (like having a 75-year-old retiree investing in a tech start up?), according to the IIROC. Worth reading, but I suspect that is only the tip of the iceberg, in terms of complaints.

A Money Tweet

What happens when Preet meets up with the Blunt Bean Counter? Why don’t you listen in to find out?

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More cowbell

Overvalued Housing, EU Trade Deal, Overcharging Banks & Scary #MoneyTalk

So the CMHC came out with a report this week that confirmed what most folks looking for a house already know, and that is Most Canadian Housing Markets Overvalued, Price Growth to Slow Through 2018. Houses being overvalued in major areas of Canada (e.g. Toronto, Vancouver, etc.,) is nothing new, we have been talking about the housing bubble there for years, but now there is talk of this causing a domino effect where other areas housing prices are also increasing (for no clear good reason). Will the new regulations about Mortgages  slow this down? We shall see!

Count Floyd
This Whole Mortgage Thing is SCARY!!! Isn’t it Kids?

Interesting that Belgium is the one country stopping the new trade deal with Canada, and it is not even all of Belgium, it ends up being a small minority holding all of Europe hostage? Interesting how these things happen that way. Evidently there is a compromise that has been reached? We shall see.

Seems the CIBC (specifically CIBC Investor Services Inc) were caught overcharging their customers for Mutual Funds and ETFs dating back to 2002, but because they said it was accidental, they are hoping to not have to pay a penalty? I wonder what would happen if I accidentally forgot to pay my taxes? Food for thought.

Monday is Halloween, you know what that means? Christmas season has already started, to quote Count Floyd, “That sure is scary kids!“.

My Writings for Week Ending October 28th

I did resolve this year to move away from the TD Mutual Fund accounts that I still have open, and the first step I took was moving my Emerg Fund from TD Mutual Funds to Questrade, but I had to wonder about 10 Day Investment Account Transferals, and why does it take that long? It is only one computer talking to another.

Read More »Overvalued Housing, EU Trade Deal, Overcharging Banks & Scary #MoneyTalk
Mortgage Retirement

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.

RDSP
RDSP A Path to Savings (from another great article by Moneysense)

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.

Read More »RDSP , New Mortgage Rules Hurts Economy and #MoneyTalk
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