Best of

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:

@bigcajunman RDSP for special needs kids – why haven't you opened an account? $11,000 is up for grabs in the 1st yr. pic.twitter.com/PUU7Ivdnyg

— Punch McKully 🇨🇦 (@kayaking_canada) August 24, 2016

Read More »Farewell, EpiPens, Ombudsman Report and #MoneyTalk

This week a great deal of kerfuffle was kicked up when a couple of 30-year-olds claim they have retired, and were telling folks how they did it (some folks say boastfully). While I know folks who have retired in their 30’s (only to go back to work, because they were a little bored, and also decided they might need a little more money), the idea of “retiring” at 30 seems to be the new Nirvana for millennial folk. Given this generation is going to live longer than my generation, what will they do while “retired”?

Even Garth Turner kicked in his 10 cents worth on the topic, and Preet discussed this with the morning crew at Global too (see the week’s Tweet for that one). If you manage to retire young, on the back of your parents’ assets then pish-posh on you, but if you earn it, through the sweat of your own brow, then good on you! Most folks who will bash folks like this are mostly bitter, narrow-minded financial bloggers (no, wait, that is me); jealousy is never a good reason to mock other folks’ achievements.

I was sad to see the passing of Mauril Belanger (MP with ALS). ALS is a frightening disorder (not that any lethal disorder is better or worse), let us hope the work he did, gets us closer to a way to treat this destructive disorder.

My Writings for Week Ending August 19th

As I get older I keep forgetting about helpful technology, especially in the world of banking, and my article, Old Financial Technology Habits Die Hard outlines how I forgot about photo cheque cashing as a technology (shame on me, I am not a Luddite).

I am attempting to work on my article backlog, and I found one I started a while ago based on a BuzzFeed post that I saw. Little Known Secrets of Financial Planning, is no great epiphany, in fact I get downright sarcastic.

Preet on Early Retirement

Preet is on TV a lot these days, it seems. I have been told I have a face for Radio.

Could skipping home ownership be the secret to retiring in your thirties? @preetbanerjee with tips for millennials https://t.co/XPe7lPpS42

— Global News Trending (@GNewsTrending) August 17, 2016

Read More »Obnoxious 30-Year-Old Retirees, Olympics and #MoneyTalk

Suppose you devised a plan to get the UK out of the EU, and it worked. What would you do? If you are Boris Johnson or Nigel Farage, you quit (while you are ahead?). After pulling off one of the more memorable upsets in the past little while, the two prominent faces of the Brexit crew have resigned, and now the UK has very little leadership on either side (having lost Prime Minister Mr. Cameron earlier on, and the Labour Party Leader seems to be under siege as well). Who has the rudder on the excellent ship Brittania? I don’t know, but the markets suggest they are not happy with the current situation. Now might be the time to book a vacation in the UK this summer?

More than once, I have written about how children should aspire to stop living with their parents as soon as possible, and for some, that has been construed as Millenial Bashing (to quote Rob Carrick), and while it does sound like harsh advice, I stand by the statement. Do you know how you learn to live on not much money? By living on not much money (and not living in your parent’s basement, claiming you are saving up for a down payment). My opinion is there are not that many more youngsters are doing this, but the mainstream media has latched onto it, as their cause celebre of the year. If you want to read an excellent book about Millenials and how much better than they are than all previous generations, read Grown Up Digital: How the Net Generation is Changing Your World (amazon link), well worth reading. My parents complained about me watching too much TV, and yes, I lived with them when I went to University too (for full disclosure).

I was sad to see that the Welsh Football (soccer) team lost in the semi-finals of the European tourney to Portugal, but it is an astounding result for the team (not quite as impressive as Iceland, but still pretty darn good). As I have said, I am the proud son of Welsh and English immigrants, glad to see Wales soccer is improving (Welsh rugby has been severely pounded by New Zealand, unfortunately).

My Writings for Week Ending July 8th

Another week with only 1 article, but hey, it was a long weekend, and it is the summer. I could be like the Blunt Bean Counter and leave up a Gone Golfing notice. More than one person has asked me whether I might be downsizing, as 3/4 of my kids are old enough to move out, but I am not thinking of it (for the next little while). My opinion is that Down Sizing: Another Money Maker for Real Estate Agents, remember it used to be you bought a starter house, and then the one you were going to live in for the rest of your life, now they have added one more major Real Estate transaction, Downsizing! It’s like McDonald’s creating a new meal Brinner (about 3 PM when you are hungry for a snack, have a Big Mac!).

Inflation?

Bank of Canada has some theories for the next two years on the topic of inflation.

Expectations for inflation over the next two years are largely within the Bank’s 1-3 % range pic.twitter.com/sEmN0UvSCi

— Bank of Canada (@bankofcanada) July 4, 2016

Read More »Brexit Market Mayhem, Millenial Bashing and #MoneyTalk

A bit of fun from 2016 but also a Celebration of St-Jean Baptiste Day or La Fête nationale in Quebec (land of my birth).

For those of you who did not grow up in Quebec, today is La Fête National or St. Jean Baptiste day, typically the start of the summer in Quebec. For me it was always the end of school, but that was 40 years ago. The rest of Canada waits for July 1st for the summer to really start (next Friday).

It seems the Canada Pension Plan is being revised to help Canadians retire. It seems to be to protect younger folks so more money is saved for their retirement, we will all pay higher premiums (phased in over the next little while), and the maximum payout will increase over time (but if you are already retired, you won’t benefit from this). I am still investigating, whether this will change much for someone like me who might retire within the next 5 to 8 years. I am searching for an actual Government document that explains the changes, nothing seems to exist yet. Is this a good thing? As usual, I will reserve commentary until I read an official document.

How will all of this change my retirement plans? I will comment when I can figure out how this new system works with my pension, but I suspect, at the end of it all, it won’t change my retirement plans much, but, I (55 year old) am not the demographic that these changes were put in place to help.

Will the Rio Olympics end up like the 1980 Moscow Games and the 1984 Los Angeles Games? There are many folks saying they will not be attending (or are being told they can’t attend), for many reasons. Is the Olympic movement still relevant? Yes, I think. However, the Olympic organization seems suspect.

The Cleveland Cavaliers won the NBA Championship, how much money does that mean to the City of Cleveland? It will certainly mean less jokes about Cleveland, well, maybe not. Is Lebron James better than Michael Jordan? Not in my opinion, and the Warriors team from this year is not better than the 95-96 Chicago Bulls, but, only my opinion.

My Writings for Week of La Fete National

Another slack week for me, only writing one article, but to me, an important article, that needed to be written. RDSP the Savings Plan Nobody Knows About, came from a discussion I had with another parent about the Registered Disability Savings Plan, and how the people who seem to know the most about the program, are those who are trying to use it (not the folks who offer it, like the banks).

A Money Thought

People get very offended when you tell them how to raise their child, unless you wrote a book about it. Then they’ll pay you for it.  -ShowerThoughts Reddit

The same is true for Personal Finance.

If you had all the money in the world, you wouldn’t be able to spend it, as no one else would use currency.  -More Shower Thoughts on Reddit

Read More »La Fête nationale, Enhanced CPP and #MoneyTalk