Welcome back the Family Allowance, as the Tories change the UCCB to become a taxable benefit, and we return to the happy world of the Family Allowance cheque (which at the end of the program was given and then clawed back if you made enough money). Interesting that the new UCCB pays out now, but a lot of folks who don’t realize it is a taxable income source, won’t figure it out until after the election? I know, the Liberals & NDP (and me) will be pointing that out long before the election.
Now there is talk of a real deficit this year (not a big one, but no balanced budget to go into the election with either). What with all the talk of recession (check out the CBC’s panel at the end of this and their views on this) and it looks like the economy may be a liability for the Tories, instead of a rallying point for voters.
Thanks to the drop in Interest rate drops last week, the Canadian Dollar is at an 11 year low, and doesn’t really show any sign of dropping either (so if you were planning a fun trip to the USA, it is going to cost you some more). For our American friends, come on up, everything is now much cheaper than it was last year.
Bell is now being forced to share their high-speed internet home connections? I applaud the CRTC for helping make sure there is competition for home high-speed internet access.
My Writings for Week Ending July 24th
Glad to see I am living in “sin city” in terms of Ashley Madison subscriptions :
- RDSP Questions and Answers is me trying to help folks trying to set things up (and reusing some research I did for an ill-fated interview simultaneously).
- I have said it before, but I will repeat it, The CRA Does Not Like Changes, and they will call you on them every time (in terms of asking for receipts).
- I am sure most folks know that the new UCCB (or the old Family Allowance) is a Taxable Income, but I figured I’d point it out to ensure my Captain Obvious points for theÂ week.
I am still on this fine list from LSM Insurance:
Is the Deficit Causing the Recession ?
While Mark and the Blunt Bean Counter he continues to bring up some interesting stuff from his archives including How Much Do I Need to Retire? Heck if I know (Part 5). Remember that how much each of us need to retire with is really an individual calculation (but if you still owe over $1M in debt, my guess is retirement is not in the cards for you).
Mark from My Own Advisor asks Should you cash in that childhood life insurance policy? I havenâ€™t had to make that decision, as I donâ€™t have that set up for my kids, but as usual Mark has thought about this one (more than I would have, at least). My mind continues to wander to marriage when children are mentioned , and Our Big Fat Wallet wants to help out with Finance Lessons Learnt from a Newlywed. When I was a newlywed I had a great deal to learn about money. Remember that just because you love someone does not mean that you both share financial theories of life, as was pointed out in this article from the Atlantic, In Love, and in Debt.
I do enjoy kibitzing about technology in general and the topic of Rob Advisors really has me curious, and Barry from Money We Have asks a good question, Are Robo Advisors in Canada Right For You ? I have an understanding of what is behind the Robo Advisors in terms of algorithms and such, but whether they are â€œgoodâ€ or â€œbadâ€, only time will tell (hopefully they are at least cheaper). Maybe a hybrid solution would be better and Robb from Boomer and Echo has, How This Unconventional Pairing Can Save you Money on Your Investments, and yes, it does include our technological buddy the Robo Advisor (resistance is futile). Are you reading Larry Swedroe ? You really should, and he points out a very good point in Chasing Active Managers Is a Losing Proposition, past performance means nothing.
The financial media seems excited about how the Stock Market must be overvalued, but Michael James asks a better question, So Stocks are Overvalued â€“ Then What ? Information has value, only, if you do something with that information, so what are you going to do? And why? Do you really have all the pertinent information? I forwarded to Michael James an interesting e-mail that was letting me in on the ground floor of a great real estate deal, which once you read a little further, you realized was a Time Share Condominium concept, which had me remember the worst advice I ever gave (financially).
Are We In A Recession?
What do Preet and the folks at the CBC round table think?
How Much Food is Wasted in North America?
John Oliver goes off on food waste in the US, but he isn’t wrong either.
The MIT Poker Course ?
Yes, MIT offers an intro to Poker Theory course, don’t remember the U of Waterloo having this (I would have taken it, instead of Hi Fi Sci).
2015 Random Thoughts
- January 2nd Random Thoughts on 2014, Welcome to MMXV and #BestOf
- January 9th Frigid Temps, Plunging Oil, Paris and #BestThisWeek
- January 16th Canadian Economy on the Edge, Frigid Temps and #BestThisWeek
- January 23rd Looser Money, Plummeting Loons and #BestThisWeek
- January 30th CLBs, Weak Loons, Tax Time, Superb Owls and #BestThisWeek
- February 6th Superb Decisions, Gas Going Up, Rugby and #BestThisWeek
- February 13th RRSPs, Valentines, 50 Shades of Debt and #BestOfThisWeek
- February 20th Lent Begins, Freezing Temps, Apples and RRSP and #BestOfThisWeek
- February 27th RRSPs, Saint David, Right Arm and #BestOfThisWeek
- March 6th Illness, K-Cups, Interest Rates and #BestOfThisWeek
- March 13th March Madness, Taxes, Friday the 13th and #BestOfThisWeek
- March 20th Spring has Sprung, Ten Years, The Madness and #BestOfThisWeek
- March 27th Death of EPost, More Madness, and #BestMoneyStories
- April 10th Senators, Retiring Rich and #BestMoneyStories
- April 17th Playoffs, Tax Time, Beer tax and #BestMoneyStories
- April 24th RRIF Allowances, Bursary Changes, Budgets and #BestMoneyStories
- May 1st Tax Extensions, Golf Season, Bank Fees, May Day and #BestMoneyStories
- May 8th Alberta Valium, Motherâ€™s Day, Che Guevara, Pay Day Loans and #BestMoneyStories
- May 15th Starbucks, Monty Burns and #BestMoneyStories
- May 22nd Coach Money, CPP Up 18 pct, Losing $15B and #BestMoneyStories
- May 29th Easy Money, Better Cell Deals, Dirty Football and #BestMoneyStories
- June 5th Starbucks, Hacked Government Folk and #BestMoneyStories
- June 12th Voldemort for PM, HSBC Cuts 50K, Hockey Talk and #BestMoneyStories
- June 19th Aeroplan Student Loans, Dadâ€™s Day, Kill CSBs and #BestMoneyStories
- June 26th Summer is Here, Canada Day, Christmas and #BestMoneyStories
- July 3rd 2 Day Work Weeks, 4th of July, Greece, and #BestMoneyStories
- July 10th Glitches, Greece, Recessions and #BestMoneyStories
- July 17th Loosest Money, Weddings, Greece and #BestMoneyStories
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