If you were feeling optimistic about life and such, remember the Doomsday Clock is still set at 3 minutes to Midnight (where Midnight is the Big Casino for humanity). The Bulletin of Atomic Scientists site many things that are going on in the world that should have us worried, but surprisingly the sales of bomb shelters has not increased (unless you count some of the Condos in Toronto?). Sounds like the explosion of the Housing Bubble is not the only Big Bang we should worry about?
Evidently RBC has some explaining to do as they seem to have sent out incorrect RRSP receipts to the wrong customers, which is an interesting double negative. Not only was the information incorrect on the receipt, it was sent to the wrong person with information from other folks (Social Insurance Numbers and the like)? That is what I call getting it as wrong as possible, but, I am confident there are worse examples.
Will legalized marijuana sales become a cash crop for our government? A lot of folks think so, but I am skeptical. The amount of money folks seem to think legalized pot will create are optimistic, but I will be pleasantly buzzed if the prognostications are correct. Pass the Doritos please.
My Writings for Week Ending January 29th
Winterlude has come to Ottawa, so of course everything has started melting (keeping with the Ottawa tradition). We should just rename Winter, Winterlude and we could save a fortune on snow removal.
Marijuana may not be a huge cash crop, but Cauliflower sure seems to be a wallet buster these days in terms of prices, as we saw in Food Prices up 4.1% for 2015
Was I really making up this whole Bimodal Financial Planning thing? Kind of, I was mostly stealing a concept that is being espoused by the Gartner group for Information Technology groups, but I feel it might catch on in the financial world was well.
A Topical Tweet
Are you following this version of Stats Canada? You should:
The average Canadian spends 11% of their annual income on cauliflower
— Stats Canada (@stats_canada) January 26, 2016
Tonight’s Financial Forecast: Dark
Robb E. over at Boomer and Echo points out something that I have noticed, Indexers Are Terrible At Indexing, with some examples from the Canadian Couch Potato. Everyone worries about the ups and downs of the market, not all of us have the luxury of Preet where we can say, I am an Indexer, I don’t Care What the Market did Today. Blessed by the Potato has a good old-fashioned rant with The Big Short and Canada’s Housing Bubble, where he calls out experts about the Housing Bubble in Canada.
For senior citizens like me, sometimes we need hints about things and Mark from My Own Advisor has a good set of them with 12 signs you can retire now (or you need to wait). Don’t keep working if your pension is max’ed out in term (max period of work). Should you “go for the gusto” or work hard so you can stop working hard sooner? These are the questions discussed in Money We Have’s YOLO or Retire Young ? I would say work hard to stop working hard sooner is something I regret not doing. Speaking of retirement Million Dollar Journey wonders about Early Retirement on Non-Eligible Dividend Income, an interesting follow on to their previous discussions about retiring with Tax Eligible Dividend Income.
Steadyhand has some good advice for those of us who love to read what the Central Banks (i.e. Bank of Canada) are saying about the economy, Stop pushing the button. Your central banker can’t help. I plead guilty on this one. Miranda Marquit is over at Financial Highway trying to help out new investors with Investing 101: Start Small and Be Consistent, consistency is always important in most things (but don’t let it turn into zealotry).
Mostly Money Video Podcast
Preet seems to be re-energized in terms of video podcasting as he has published another Video Podcast entry Employer Matching Retirement Contributions , I caution to remember to never get too highly vested in your employer, you might be putting too many eggs in one investment basket (speaking as a former Nortel Employee).
Tax Time Video
Do you know about the Child Fitness Tax Credit? CRA has a bunch of useful videos you should go check out
2016 Random Thoughts
- December 30th, Top Canadian Personal Finance Posts for 2015
- January 7th, Market Meltdown, TFSA, WildCard Weekend and #MoneyStories
- January 14th, Cheap Oil, Cheap Dollar, Dead Folk, and #MoneyStories
- January 21st, Loose Money, High Household Debt, Weak Loons and #MoneyStories
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