With a little over two weeks to go before tax returns are due for Canadians I’m starting to hear a lot of grumbling over having to pay taxes. Paying taxes is inevitable for every Canadian. We’re probably the most taxed people on the face of the Earth with high income taxes and also extremely high…
It’s been over ten years since the stock market took a major tumble that took stocks down 50%. During the next decade since then North American stocks, specifically the United States, have enjoyed the longest bull run in maybe the history of the US economy. Despite the cries that the American empire was crumbling, the…
A recent article came my way that was titled “Self-made millionaire: Not buying a home is the single biggest millennial mistake“. This is supposed to make the Millennials rush out the door and buy a home. Make no mistake the author of the article makes very good points. If you’re renting you’re just throwing money…
RRSP season is out in full force for Canadians and there’s just about 1 more week to go before the deadline. If you’ve been reading this blog you’ll know by now that the RRSP account has many uses. You’ll also know that the benefit of the RRSP is to defer taxes to a later date,…
Everyone hates high prices. The unfortunate fact of a growing economy is that prices need to rise over time. This increase in price is called inflation. Inflation is a necessary evil to a successful economy because of how humans behave. Let’s face the facts. We all like a good deal and when we buy things…
Probably more misunderstood than Taylor Swift’s “Starbuck’s Lovers” lyrics, the TFSA account has had its reputation dragged through the mud the past couple of years. Ever since the Trudeau Liberals went on a crusade to bash the TFSA as a rich man’s tool to get rich quicker, the TFSA has been swept under the rug…
Remember Christmas time last year when stocks were getting pummeled and everyone was calling a crash that looked like 2008? Well guess what? If you sold everything you owned at that point you just ended up realizing missing out on over 10% in gains. That’s exactly how much the markets have rebounded since hitting their…
Contrary to the popular belief of many Canadians, collecting CPP and OAS isn’t quite enough to retire on. That’s because the maximum benefit for CPP is only slightly more than $1,100 and the OAS supplement is around $540. That means the maximum amount the government will give you when you’re wrinkly and retired is around…
One of the hardest things I’ve learned while on my quest to achieving financial independence is how to avoid all the news. Everyday we are inundated by news articles stating the “facts”. Browse Facebook, LinkedIn or even look at the home screen on your Android phone and you’ll know what I mean. It’s not hard…
With 2018 in the rear view mirror it’s time to start looking forward at what the next year may bring. There are already quite a few known changes in Canada to the economic landscape that will affect our personal finances in 2019, so now is a good time to run down through the changes so…
I went back one year to see what I wrote about in 2017 and the headlines were all about Bitcoin. Well guess what? Last year I wrote about how I couldn’t give a damn about Bitcoin because it was just a one hit wonder with no longevity and not a proper way to reach financial…
No, that picture is not to scare you, it’s just used to described what people call a down market. A “bear market”. Despite the record setting years of the last decade, stocks are down this year. This is no surprise as I wrote about it at the beginning of the year. Interest rates are rising…
