RESP Sometimes Doesn’t Make Sense
An RESP seems like a no-brainer in terms of saving for parents, but if you haven’t paid off your own debt (or student loans) does it make sense? Hold on don’t forget about the Canada Learning Bond.
iPhone 7, High Tuition, Loose Money & #MoneyTalk
Exciting news this week in the technology world, with the iPhone 7 being announced, by Apple. Is there anything new? Two different cameras, no such thing as a headphone jack and some other fun stuff, but nothing earth-shattering (which upset investors, so the stock didn’t do its normal jump on the announcement of a new iPhone). It was interesting in the keynote for the launch, the Apple CEO pointed out that the iPhone is the “Gold Standard†for smartphones, and that is true (unfortunately), “Just as Good as an iPhone†is the battle cry of all the smartphone “pretendersâ€.
The Bank of Canada announced that loose money policies will continue, but they also (optimistically) stated that the economy should turn around soon.
On balance, risks to the profile for inflation have tilted somewhat to the downside since July. At the same time, while there are preliminary signs of a possible moderation in the Vancouver housing market, financial vulnerabilities associated with household imbalances remain elevated and continue to rise
Evidently, the new CCB payments will also positively affect the economy? I guess if you give folks tax-free money they will spend it?
Stats Canada put out their yearly report on Tuition fees, and surprisingly (sarcasm) Tuition fees are up again in their latest survey. The report does have some interesting breakdowns showing that Ontario is the most expensive place to send your kid to school, and that Engineering and Professional programs are bloody expensive as well. The report doesn’t really mention all the funny service fees that are typically part of your tuition bill, or the cost of text books and other things, but still a useful barometer to confirm what I already knew, it is expensive to send your kids to University in Canada.
My Writings for the Week Ending September 9th
Given it is back to school season I continue on with my onslaught about the high price of a University Education in Canada, and remember it is not just fees, it is also Textbooks are too Expensive, as well. If you are fretting about the price of your kids’ backpacks, you really need to read more about the expenses of a post-secondary education.
Textbooks are too Expensive
The business of post-secondary education keeps booming, and one of the areas of large growth is textbooks (still, even with e-books).
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Farewell, EpiPens, Ombudsman Report and #MoneyTalk
Last week, we said goodbye to the Olympics and as well, to the Tragically Hip. I was never a rabid Hip fan, but I enjoy a great deal of their music (and if you listen closely to the lyrics, you might just learn something about Canada). Some might say, life goes on , but that doesn’’’t mean we can’’’t feel sadness about the passing of time. Also, the summer is also almost over.
How much are you willing to pay to save your life? The entire price of EpiPen silliness in the U.S. really does make me wonder if big drug companies assume they are like banks and can charge whatever they want, and there will be no repercussions. As a stockholder in Pfizer (still) I suppose I am a hypocrite for making that comment. However, Pfizer’s big money-maker is still Viagra, and if you want to gouge men who want to have a drug which has a possible side effect of “… an erection lasting more than 4 hours…”, then so be it.
I was disturbed to read the Ontario Ombudsman’s report “Nowhere to Turn”, where the Ombudsman called for systemic overhaul to help adults with developmental disabilities in crisis. The quote in the report that concerns me is:
There is still marked inconsistency in how limited funds are prioritized and distribute and families struggle with interminable waitlist delays, leaving some so desperate that they have abandoned their loved ones.
Ontario Ombudsman
My Writings for Week Ending August 26th
I started the week writing about inflation, and the arithmetic cogitations that make the numbers appear good, but the calculations that tell a different story, with Electricity Prices Continue to Sizzle in July. Electricity prices continue to go up (especially here in Ontario), while gas prices appear to be dropping which are nullifying the effects of the electricity price jump. Fun with Numbers.
I also had a lovely conversation with one of my favorite folks, Kerry from Squawkfox, and she was doing research for some work she is doing for the Globe and Mail. The topic of RESPs came up, and I remembered that I had started an article RESP Proof of Enrolment and its importance to the cashing out of the RESP funds, so I finished that one off. I typically get inspired when I chat with smart money folks, so thanks Kerry.
An Excellent Question
An interesting question from a follower:
