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RRSP

RRSPs make great “cents” if you manage the refund

I’ve been a big fan of the Tax Free Savings Account (TFSA) or what I’d like to rename the account as the Tax Free Retirement Account (TFRA) ever since the account was launched a few years ago. It’s easy to explain why: To date, individuals could contribute up to $31,000 into this account, Contributions into the account are not tax deductible but account withdrawals are tax-free, Investments held inside the account grow tax-free, There is no upper age limit for TFSAs. This doesn’t mean Registered Retirement Savings Plans (RRSPs) should ...
Weekend Reading

Weekend Reading – U.S. Thanksgiving, cash giveaways, podcasts and more

Happy Thanksgiving to all my American readers and to everyone, enjoy this Weekend Reading edition. I want to thank Kyle Prevost from My University Money and Young and Thrifty fame for allowing me to make a mess of their podcast  interviewing me for an upcoming podcast.  I look forward to hearing the final product, thanks Kyle! What???  You haven’t entered  this HUGE CASH GIVEAWAY yet?   I have a cash prize on this site as well – check it out and enter now! I enjoyed Mark’s year-end tax tweets. Gail Vaz-Oxlade made time for CityTV, sharing ...

Goodbye Canadian penny, goodbye great penny idioms

Welcome to a new era in Canadian currency folks. Our Royal Canadian Mint stopped issuing the penny on February 4th mainly because it costs more money to produce the penny than the currency it represents.  Sure, we can continue to keep using pennies going forward but there is no requirement for stores to accept them.  Eventually, the circulation of these things will dry up over time. What about penny phrases and idioms?  Can we use those still? With the penny on the way out let’s a look at some phrases we might have to say goodbye to as well. Bob ...

Three U.S. Dividend Paying Stocks Priced Under $30

I’ve often read “dividends don’t lie” and I believe there is a great deal of truth to those words.  Companies can either afford to reward shareholders or they can’t; the evidence of company stability can be measured in part by dividends paid over decades of time.  For some companies, while capital appreciation can be tremendous, the trick for the average investor is to know how to find those gems early on in their business lifecycle, figure out when to buy them and in many cases at what price point to sell them for big gains.  That’s ...

Midweek Reading – Chatting with Horizon’s senior managers and great Canadian bloggers

  I’m going to be taking holidays for about a week, so posts on My Own Advisor will be slim to none.  I’ll do my best to check comments and feedback from you over the next few days but the intent is to be on vacation and “unplug”.  I suppose that’s what vacations are for.  Besides, I can’t swing a golf club and check email at the same time. I enjoyed a nice kick-start to my holiday last night, hanging out with a great team from Horizons ETFs and a bunch of Canadian personal finance bloggers.  Canadian Capitalist, Michael ...

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