Weekend Reading – Things to be thankful for

Weekend Reading – Things to be thankful for

Hi Folks!

Welcome to one of my final Weekend Reading editions of 2023….about things to be thankful for. 

Happy Holidays!

A few reminders before those words of gratitude…

Last weekend, I shared some very important art and math considerations when it comes to RRIF withdrawals, including what I’ve observed as best practices from successful retirees.

As a follow-up to my profile about buying and holding low-cost ETF QQQ, I shared this update on XAW:

Then and Now – XAW

Weekend Reading – Things to be thankful for

Headlining this edition, Rob Carrick’s post (subscribers) about financial things to be thankful for, caught my eye. Within Rob’s list, what might appeal to many of my readers:

“The TFSA limit is going up for the second straight year.”


The TFSA contribution limit will be $7,000 as of January 1, 2024 per adult, up from $6,500 just last year. This is by far the best investing account for retirement for anyone to use!

“FHSAs are widely available.”

If I was younger, I would absolutely open this account and get after it – if home ownership is something you want. You can put $8,000 a year into an FHSA, to a maximum of $40,000, money that can grow tax-free. 

The best way to explain the FHSA is this: it seeks to take the best of the RRSP and TFSA and merge them for first-time home buyers. 

As already available with RRSPs, contributions to FHSAs generate a tax deduction. So, depending on your income and what province you live in, you’ll probably save a few thousand bucks on taxes with an $8,000 contribution. 

As already available with TFSAs, there’s no tax on your contributions or investment gains from within the FHSA, so any interest gains, dividend income, or capital gains, are yours to keep and use.

You can check out my previous Weekend Reading edition that includes this handy chart on the FHSA:

Weekend Reading - The New Tax-Free First Home Savings Account (FHSA)

Weekend Reading – The New Tax-Free First Home Savings Account (FHSA)

And also from Rob:

“CPP recipients get a nice bump in 2024.”

Retirees (and aspiring retirees) that read this site will be pleased to know that Canada Pension Plan benefits will rise by 4.4 per cent next year. So, by earning CPP, your benefits will beat inflation. The income is even better if you can delay CPP income to age 70. 🙂

Weekend Reading – Things to be thankful for…

When it comes to things I’m very thankful for, as I enter the holiday season, I’m thankful for my health and the health of my family. I continue to believe health is the ultimate form of wealth. 

I’m thankful for my/our employer; we have jobs. Our employer continues to believe in our work and contributions to the workplace. We’ve been fortunate to have good paying jobs over the years, that have allowed us to not only lead a good lifestyle, but save and invest a bit for some semi-retirement plans earlier than most. We’ll have more to share on that when the time is right, in 2024…

I’m thankful for this blog. Odd maybe, but true. It has provided a creative vehicle and outlet for me to share my thoughts, my ups, my downs and engage with DIY investors or really anyone for that matter, in ways I wouldn’t have thought possible over time. It has opened up my passion for entreprenuarial ambitions and connected me with new friends.

As 2023 comes to a close, and 2024 opens new doors and experiences for all of us, I want to wish you and your family, passionate readers of this site along with all the occassional drop-ins and lurkers – a Very Merry Christmas and Happy Holidays!!

I’ll be around watching (and answering) comments on the site over the coming week or so while on holiday vacation from work, and I might even post a few articles now and then before 2024 – we’ll see?!

Enjoy the rest of the reading material for this weekend and your well deserved holiday season.



More Weekend Reading – Beyond lots of things to be thankful for…

One of my favourite sites, A Wealth of Common Sense, shared a short history of Nasdaq-100 index returns. 

Ben wrote related to the tech boom/returns for this year and what might lie-ahead:

“I’m sympathetic to the argument that mean reversion should play a role going forward. You can’t expect gains of nearly-20% per year to continue.”

…”I’m not confident in my ability to predict future market returns. There are simply too many variables at play.”

Fritz at Retirement Manifesto shared his 3-legged stool of retirement:

The 3-Legged Stool of Retirement

“Finding the right balance is the key, and a helpful metaphor to think about those tradeoffs is the 3-legged stool.  For retirement, I think of those three legs as:

  • Time
  • Money
  • Health

We will all lose our health and time. You can’t get out of here alive.”


Morningstar suggested you should use T-Bills to Chill as an alternative to idle cash, given this strategy “might pay off over some shorter-term periods” while keeping a heavy bias to stocks to build long-term wealth. 


A great reason to consider these funds:

Are Cash-Alternative ETFs Right for You?

I enjoyed this Financial Post article related to Charlie Munger-friendly stocks in Canada. Potential investments for 2024 for you, maybe?

“Twenty Canadian stocks stood out as “quality” worthy of Munger’s approval.

In the consumer and communications sectors they are Alimentation Couche-Tard Inc., North West Company Inc., Metro Inc., Dollarama Inc., Sleep Country Canada Holdings Inc, and Telus Corp.

From the financials sector are Intact Financial Corporation, Royal Bank of Canada, Toronto-Dominion Bank, National Bank of Canada and Great-West Lifeco Inc.

In the industrial sector are Canada’s two railways, Canadian National Railway Co and Canadian Pacific Kansas City Ltd, Toromont Industries Ltd. and Waste Connections, Inc.

Constellation Software Inc., Enghouse Systems Limited, CGI Inc. (Class A), Stella-Jones Inc. and CCL Industries Inc. (Class B) complete the list.”

Interesting times ahead: BlackRock updates its ETF bitcoin filing to make access easier for the big U.S. banks.

Via MoneySense, what might you expect from GICs in 2024? Potentially lower yields. The summary is key when it comes to where to keep GICs and striking the right balance between stocks and fixed income:

“Investors with taxable investment accounts should consider the tax implications of their investment income. A 6% GIC return in a tax-sheltered account is pretty good but in a taxable account, high-income investors may lose over half of their return to income tax. Stocks are more tax efficient and for an investor with a medium or long time horizon and moderate to high risk tolerance, stocks should be considered for their potential to provide higher pre- and post-tax returns.”

I believe when in doubt, GICs always go into the registered account… (Nice ring to that tune, eh?)

Merry Christmas - Christmas List

Happy Holidays. 🙂


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.

3 Responses to "Weekend Reading – Things to be thankful for"

  1. Hello Mark; Thank-you for your work in helping us/me plan well for our financial independence. I am truly grateful for the love and support of my family. Every day is meaningful , rewarding and a blessing. All the best. Regards . Mike


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