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Random Thoughts: RDSP Week

Registered Disability Savings Plans (RDSP Week)

This week I’ve spent most of my time recounting my trials and tribulations, attempting to set up and put money into an RDSP for my son. I seem to have succeeded in putting money into the account. However, how I take money out of it and invest remains to be seen. It is a good savings vehicle for those with loved ones who are disabled, but it does seem to need a bit more public education on how it all works (and maybe a more precise methodology at TD). RDSP week was a lot of fun, in hindsight.

While I wrote my case study, other financial bloggers seem to have preoccupied themselves with the Globe and Mail’s Vote: Best of the Money Blogs, and they have been campaigning like there is a massive prize at the end of this. I am just happy to be recognized (yes, I have my capitulation post ready and waiting). I would strongly suggest looking at the sites mentioned in the survey since they are all great sites (and, of course, read the Canadian Capitalist too, who is on the review board of the survey). Don’t forget my Campaign Song as well!

My Views From the Week

  • RDSP the Money Flows (in) RDSP Update! Whoopin’ it up! The money has appeared in my son’s RDSP account, after it’s overland route across two accounts, but unfortunately, as I suspected, I can only look at the balance.
  • Registered Disability Savings Plan the Journey Continued Overland Money Routes Yesterday I wrote about the interesting twists and turns I have had to go through to set up a legal Registered Disability Savings Plan for my son.
  • Registered Disability Savings Plan the Journey Continues New System Growing Pains So the RDSP (Registered Disability Savings Plan) has been in place for a while now, but it seems some of the banking establishments are having some teething pains.
  • Construction Boom? My wife and I spent part of Saturday finding out how much replacing the windows on our house is going to cost (the short answer is HOLY CRAP!).
  • Energy Futures with Bill Gates Bill Gates’ status has dropped a great deal lately, but here is a great Ted Talk he did about the future of energy.
  • Random Thoughts: Roller Coaster Markets Down, down, down.. then Up,Up, UP! The markets are showing to be have more changeability, than the weather in Ottawa in May! 

From the Blogosphere

What else did the financial blogosphere write about this week? Yet another Stock Market implosion on Thursday? Nope, not yet. Saving that for next week, I guess.

  • Preet at WhereDoesAllMyMoneyGo had his site hacked again, but he also started a contest I’m Giving Away an iPad: Enter Contest Here and my posting of this link, gives me a better chance of winning. I am such an Internet whore when it comes to these kind of contests. I point out that Preet is campaigning heavily for the Globe and Mail contest as well.
  • Michael James points out that even the Free things in life are not necessarily that free with Not So Free Life Insurance, Michael James also threatened to burn your house down if you didn’t vote for him on the survey.
  • Larry MacDonald (also nominated in the G&M Survey), talks about Sector ETFs for small-cap growth areas, which may not get much respect, but have potential (as well as added risk).
  • The Canadian Couch Potato luckily didn’t hurl himself onto his dandelions from his second story window, or he would not have been able to write his Tips for Trading ETFs, while they have not threatened their readers, they have shamelessly asked for votes on the G&M survey..
  • Canadian Mortgage Trends talks about The Rise of Credit Unions pointing out they seem to be giving very low mortgage rates these days. I haven’t read this site much, but have added it to my RSS feeds (however, I am certain this site has some dark secret in their closet as well).
  • Money.Smarts (formerly the Four Pillars) points out the advantages of Networking but in the article takes a cheap shot a Larry MacDonald (indirectly), of course I have also had a few playful jabs at Larry about his book on Nortel as well, however, I think this is bad sportsmanship on their part and they should be disqualified from the Survey for this reason.
  • Gail Vaz-Oxlade talks about one of her favorite FLA’s (Four Letter Acronyms) How to PASS however her FLA is actually a TLA in disguise, and that kind of trickery should not deserve your vote either.

I believe that I have shown that I am the only financial blog (sic) that deserves your vote in the Globe and Mail survey. I trust you will do the right thing and vote with your heart.

NB: Yes, I am being very: Sarcastic, Silly, Facetious, Rude, Ignominious, and being an all-around Internet Whore about this survey. Please do not take any of my alleged commentary about these sites seriously. They are all excellent writers, and you should read them all (vote for me first!).

Enjoy the first scorching weekend of the summer/spring!

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