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Home » RRIF Allowances, Bursary Changes, Budgets and #BestMoneyStories

RRIF Allowances, Bursary Changes, Budgets and #BestMoneyStories

This week’s Federal Budget had plenty of election goodies for everyone, which I have already done some commenting on. Still, the RRIF allowance changes is an exciting choice for the Tories to choose as a plank in their Election Platform. For the opposition, it is the Tories pandering to the Rich Retirees who want to avoid taxes, but to me, it just looks like the Government figuring out that folks are living longer and taking that into their calculations. The other nice thing is with the larger TFSA room, if seniors are frugal and save some of their money, they can grow it in their TFSA, and not get double whammed on their taxes (i.e. taxed on RRIF withdrawal and then taxed on the growth of leftover funds withdrawn).

Evidently, the Student Loan and Bursary amounts may increase, given parents’ income will not be as big a factor for students? This may help me a little, but I am skeptical until I see the results. I am getting a lot of my info from my daughter, who keeps sending me updates (yes she is still at school).

The Ontario Government announced their budget on Thursday, with little new spending, and a pledge to have a balanced budget. The balancing will be done by freezing spending, and hoping for $10B increase in tax revenue? Maybe they need to do a bit of job creation, to make sure those taxes will increase? At least it is not the typical trick that Dalton McGinty used to pull (i.e. a nasty cutting budget in the first year of a term and anything that would be unpopular, and then nicer budgets later in the term).

My Writings for Week Ending April 24th

With the Senators making it to Friday, we shall see whether the clock strikes midnight on this Cinderella story (and cause Mark from My Own Advisor, to be very unhappy):

This Week’s Finest Financial

Mark from the Blunt Bean Counter brings his own interpretation of the budget with Federal Budget 2015. The Canadian Couch Potato takes a tighter scope view on the budget with How Budget 2015 Will Affect Investors.

Barry from Money We Have, points out that We’re Terrible at Buying Things, but I disagree, we are terrible at not buying things. Mark from 2nd Career Search takes aim at Advisors in the US with A Luxury Cruise on FInancial Advice, pointing out the shortcomings of the U.S. system. Michael James pointed me to an entertaining Open Letter to Rogers by Mrs. January (it is a little NSFW due to language). Ellen Roseman strongly suggests Don’t Be Fooled by Pitch to Change your water heater.

In the business of blogging, Google keeps changing rules about things, and their latest is if you don’t have a Mobile Friendly theme, your page rank will plummet (luckily I have been mobile friendly for a few years), but Million Dollar Journey is now Mobile Friendly too. Our friends at LSM insurance a good list of the Top 50 Canadian Personal Finance Sites and somehow I am on that list as well? Wow.

Michael James asks a question that might start a feud with Mark from My Own Advisor, Do Dividend Haters Exist ? Don’t want to spoil it for you, but I think there are Interest Haters out there. Mark from My Own Advisor thumbs his nose at those Dividend Haters with his March 2015 Dividend Investing Update . Dividends seems to be the Topic du Jour with Robb Engen writing about Why Living Off the Dividends no longer Appeals to Him, must be Dividend week out there.

Breaking Your Mortgage Penalties

Preet makes a comeback with a great whiteboard talk on the Globe and Mail about the varying costs of breaking your mortgage:

Twitter Fun

This a photo of John Young, a friend and distant relative, who ran the Boston Marathon, and John is a Little Person, see the Facebook fun, for more info

My Twitter feed is where I re-tweet many great articles by some of my featured writers (and make the occasional odd or off colour commentary on life (in 140 characters or less)). I am also on reddit, Tumblr, Pinterest , Flipboard and other Social Media sites (look for the BigCajunMan userid) as well. If you have social media accounts, don’t forget to vote for my posts (see the nifty dashboard on the bottom of each article, where you can cast your votes).As they say in Quebec, vote early and vote often!

This site is iPhone Friendly (and Android , iPod Touch and iPad Friendly), enjoy it on the go, in a readable format for the device. If you are reading with an iPhone or Android device, drop me a comment and tell me if this needs any improvements.

Feel Free to Comment

  1. TFSA increase is really awesome. The conservative made a great move that will accelerate my financial independence. Well done PC!

  2. Thanks for the mention, Alan! The Alberta budget was not well received and many think the NDP have a real shot at unseating the PCs here. The fences and lawns are decidedly orange around these parts. We’ll see if that translates into votes.

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