Canadian Personal Finance Blog

From 2016 but still some useful financial articles and a big stinky plant too!

In most places in Canada, this is a long weekend ahead (except in Quebec), but in Ontario, we are so lazy we don’t even have a name for it. Here in Ottawa, it is Colonel By day, near Toronto it is Simcoe Days, elsewhere, who knows? I appreciate that the Ontario government is busy trying to Tax Taxes, or make large payouts for programs that never happened (i.e. the Ontario Pension Plan), but could we not just name this silly thing and be done with it?

The ongoing political circus in the United States is nothing short of a reality show. However, it has been a blessing in disguise for Canada’s tourism industry. With all sides claiming that if the opposing side wins, Americans will be flocking to Canada, we might have to consider building new cities to accommodate them. Let’s not forget, immigration is what made Canada great, and everyone is welcome here. But remember guests, please wipe your feet before entering and always be polite to your hosts.

Remember the “Free Windows 10 upgrade” is now at an end for folks. Funny my Mac comes with a free OS, that seems to load from anywhere, but that is me just being a “Neo Zoom Dweebie” isn’t it? Do your upgrade or be forced to fork out some money.

Speaking of smelly things, evidently, A Corpse Flower Has Started to Bloom After a 10 Year Wait at the New York Botanical Garden, why would you want to go there?

My Writings for the Week Ending July 30th

I posted two things this week, the first one, a commentary on the data from Stats Canada, Zap! Electricity Prices Pushes Inflation in June, and the price of electricity in Ontario is beyond ridiculous. I grew up in Quebec, and for all the commentaries you wish to make about La Belle Province, they got the electricity thing right (on the backs of 1st Nations and Newfoundland, admittedly).

For those of us with kids that are in Post-secondary programs, about now is when we get the Tuition Bill for the fall, and I had a look at one from Queen’s and was floored by the additional fees, so, naturally, I had to write about it in, The Business of University Fees. I should start my own University bet I could make some money (yes that was a Trump jab).

A Money Thought

Every time I browse /personalfinance, I end up reading posts by people half my age complaining about making twice as much as I do. from Showerthoughts

Reddit

Read More »Unknown Long Weekend, Windows 10 and #MoneyTalk

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.

My Writings for Week Ending July 22nd

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).

A Money Thought

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