Weekend Reading – Stop making your advisor rich, RRSP suggestions, tax tips and more

Welcome to some Weekend Reading friends.  Earlier this week I shared some top Canadian dividend paying stocks to buy, including two companies that recently raised their dividends, and if you want to be more productive, and I do, consider these tips.

Enjoy these articles and “love day” on Sunday this weekend!

Are you making your financial advisor rich?  Read on why I stopped that.

Preet Banerjee explains how your RRSP contribution lowers you tax bill.

My friend Mark Goodfield told us a few things small business owners need to know.

RRSP season is here so take some time learn how to build a fat RRSP nest egg.

Some bloggers are absolutely killing it with online income, like Making Sense of Cents, over $44,000 made in January.  Crazy numbers…

Thanks to a reader for sharing this article – why do corporations pay dividends?  “Shareholders like optionality and the payment of a dividend gives the shareholder the option to increase or decrease their exposure to that entity across time.  Again, share repurchases provide much the same optionality (perhaps in a superior manner depending on the taxes), but as the old saying goes, a bird in the hand is worth two in the bush.”

Million Dollar Journey offered some suggestions to convert USD to CDN money.  I’ve used inter-listed stocks for this in the past.

This was an interesting Financial Facelift.  An early 50s couple who work in the financial services industry, want to retire in a few years, not sure if they can, and they have net assets of $2.1M not including any upcoming government benefits.  Makes you wonder how other Canadians will ever figure this out if they can’t.

Dividend Hustler is doing very well with dividends, rolling in over $2,000 per month.

This article said life insurance for kids is not worth it.

Michael James on Money hopes to keep his active investing at lower percentages going forward, even with his ETFs, as part of portfolio turnover.

Blonde on a Budget told us you weren’t born to pay off debt and then die.  Sounds morbid but true.

I would agree with Big Cajun Man, lotteries are not financial advice.

My Dividend Pipeline made a few more buys.

My name is Mark Seed - the founder, editor and owner of My Own Advisor. As my own DIY financial advisor, I'm looking to start semi-retirement soon, sooner than most. Find out how, what I did, and what you can learn to tailor your own financial independence path. Join the newsletter read by thousands each day, always FREE.

14 Responses to "Weekend Reading – Stop making your advisor rich, RRSP suggestions, tax tips and more"

  1. I’m that “a reader”! Thanks for making me even more (in)famous. Seriously, big fan of Cullen Roche and his very straight ahead objective dissection and presentation of finance and economics. Worthwhile education, to say the least. Interesting to note that after he made his fortune working for the big banks, he became an economic consultant, and only after he felt he could deliver real value to clients did he initiate his investment company (with lower than robo fees!).

    Speaking of making your advisor rich: “I started my investing journey with big bank mutual funds that charged money management fees close to 2%.” The new fangled big bank robo-advisors charge money management fees of…close to 2%.
    The more things change…

    As for the being born to pay debt article…the word ‘bill’ needs to be eliminated from the personal finance lexicon. In almost all cases, your “bill” is merely a payment for a good or service, yet most people biazzarly complain about having to pay for what they used — electricity, heat, gas, cable, phone, prescriptions, etc. The only time the negative connotation of a bill would apply is if you were paying for damage you caused and thus receive nothing for your money.

    Wondering if Canada will ever see a TFSA season? With an RRSP still being the most beneficial for those in the highest tax brackets, about 2.5% of Canadian earners, I have to ask — are most Canadians being duped into putting money into an RRSP?

    That’s my two cents. Have a great weekend and carefully consider the risk-reward of any Valentine’s Day spending!

  2. Converting USD to CDN may be something to consider if one does not need the USD. I prefer to just stick it into a US account, so when we head south next year the money is already there. Again there may a savings if one times it right, but usually it’s the bank who always comes out ahead.


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