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CRA Itunes Pmts, RESP Scams and #MoneyTalk

I am disturbed to read about a new scam being perpetrated by scum bags, who call unsuspecting folks and claiming that that the victims owe a great deal to the CRA and it must be paid right now. The scam is quite unbelievable if you hear it, but it has caught a few folks already. The CRA has a page for this specific type of scam, so please check this CRA Scams Web Site (by the CRA) and learn how to recognize this kind of scummy behavior. The CRA are nice folk, but they are a government agency, they have very specific rules of conduct with the public, they can’t directly harass on the phone (I don’t think). Some simple hints that this is a scam:

  • Very aggressive behavior, and demanding payment within the next hour. This is a government agency, nothing happens in an hour (OK, most things never happen in an hour).
  • If they ask for a Credit Card Number, or for you to “Cable” money, the CRA doesn’t do that (and they sure as hell do not do Itunes cards).
  • Tell you that you cannot tell any 3rd parties or the like, that is the flaming red arrow that should cause you to hang up your phone.

Please, don’t be fooled, or duped.

Staying with scumbags, evidently there were folks in Toronto that were contacting new Parents to try to sell them RESPs. Evidently Rouge Valley Health System had their patient personal info stolen, and this is where these folks got the info to contact the new mothers. Don’t buy stuff over the phone, if you didn’t ask for it in the first place.

Farewell to Canada AM which goes off the air today, after 43 years. The morning show format seems to be dying off, but I haven’t really watched Canada AM for a while (sorry guys).

Will Tragically Hip farewell tour tickets become the next Tulip Bubble for Canada?

My Writings for Week Ending June 3rd

A busy week for me at home, so only one new post put in place for the week.

Bad Financial Planners Can Help points out that even if you start with a very bad financial plan, if you review it, revise it and keep it up to date, you might end up with a very good plan. Remember any plan is a living thing, and will need to change with time.

A Money Thought

This hour has 22 minutes still continues to be funny, however in this instance, I fail to see the humor of this (as a parent who has already talked about moving back in with your parents).

No More Half Measures (financially)

Previously I have said that the Answer is Always No (if you don’t ask), but Robb from Boomer and Echo took that a little farther with examples from prominent financial bloggers in Want A Better Deal? Just Ask. Some folks have phobias about confronting and asking hard questions, especially when money is involved, so Barry from Money We Have brings us 5 Ways to get Over Your Money Fears

Mark from Blunt Bean Counter continues his discussion of Ethical Wills with Financial Ethical Wills – For Estate Planning and Managing Family Wealth . Passing on your personal financial nuances to your loved ones, is an important part of your will. As I have mentioned, my personal theory of dying broke (but not in debt) and leaving a nice corpse still holds as my personal financial nuance.

If you like the technology like I do, you always get asked, “Should I get the extended warranty?”, so I like the article by SimpleMath: Why I Never Buy Applecare. Speaking of Apple, Applepay does seem to be more available in Canada, but in this Report: Apple Pay Only Making a ‘Small Dent’ Outside of U.S.? We shall see I suppose. You know when it is good to listen to the Mostly Money, Mostly Canadian Podcast by Media Maven Preet B? All the time, and this week a new episode has appeared Episode 49: Downsized into entrepreneurship, sometimes you have to play the cards that are dealt you.

Do you know how to get 30 Canadians out of a pool? Say clearly, “Can everyone please leave the pool.” With that in mind, a less polite group was Guns N’ Roses, but did you realize Former Guns N’ Roses bassist Duff McKagan moonlights is an investment guru ?? He almost killed himself before this, but he seems to have survived (for now).

If you are a passive investor (like I am (mostly)) rebalancing is an important topic, however even if you are not a passive investor, rebalancing your portfolio is important so have a read of Fidelity’s John Sweeney talks rebalancing your portfolio. Rebalancing helps hold onto your gains and keep you diversified (as you were planning in the first place). Speaking of wildly overpriced things, I still don’t know how folks “live” in Vancouver, and Infographic: Vancouver Real Estate Mania – A Timeline Of A “Bubble”, seems to concur with my concerns. The Canadian Couch Potato returns with The Real Problem With Inflation-Protected Bonds, for those looking at diversifying their portfolio (and looking for new ideas). If you like to track your portfolio, the Frugal Trader went into their archive to find How to Create a Stock Watchlist with Google Spreadsheets. That spreadsheet could help you benchmark your portfolio, and Mark from My Own Advisor publishes Benchmarking his portfolio. Knowing whether your portfolio is growing and by how much is an important piece of data to have.

In an odd way I have Pensionized my Nest Egg (Michael James reviews the book Pensionize your Nest Egg) but I didn’t follow any of the methods outlined in the book, I simply bought into a government pension (by sheer luck).


Ted Talks has many excellent videos that you should watch but the talk by Shlomo Benartzi, Saving for Tomorrow, Tomorrow is one I really like.

2016 Random Thoughts

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Feel Free to Comment

  1. My Own Advisor – Ottawa – Personal Finance and Investing Blogger

    Scumbags with that scam indeed.

    Yes, Duff is quite the financial rockstar. Long live GnR 🙂

    Have a great weekend,

  2. Just to be proactive in case CRA is thinking of calling me demanding payment, my credit card number is 1111 1111 1111 1111, and my name is spelled with a capital-omega. Thanks for the mention.

    1. bigcajunman – Ottawa, Ontario – A simple blogger writing about his financial experiences as the Father of a wonderful son who is on the Autism Spectrum. Also writes about security and WordPress technology.

      How many umlauts on that capital omega?!?

  3. Great read. CRA doesn’t ever email unless you’ve signed on to an online account and provided your email address. Then, the only thing you will receive via email is a notification that a message is available in your CRA online account to read.

    1. bigcajunman – Ottawa, Ontario – A simple blogger writing about his financial experiences as the Father of a wonderful son who is on the Autism Spectrum. Also writes about security and WordPress technology.

      Good to know, don’t be fooled, your bank usually won’t send e-mails either ;-).

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