In terms of news, and music 2016 has been a real clanging pain in the arse, and because of that most folks will be glad to see this year over, but my only question for you is, “If so many famous folks died in 2016, do you think maybe they got wind of what 2017 is going to be like and figured they would check out now?”. That is a BCM deep thoughts for 2016 (but yes, I will be glad to see this year over with as well).
Have you done any of the things you should be doing for the end of year?
- Top up your Charitable donations ? Those are counted on the calendar year, you have today to try to get it done (or go to Church on Sunday and they might count it as this year too).
- TFSA juggling, if you were planning on taking money out of your TFSA, you should have done it by now, that way you can easily have the deposit space for next year, and you can start paying it back.
- It is never too early to put money into your RRSP (if you have room, and don’t have a lot of debts).
- Make sure you have paid all of your bills for 2016 as well (quarterly CRA, property tax, etc.,).
- Evidently January 2nd is known as Divorce Day, so maybe you should start that early ?
You could always create a financial plan for 2016 as well (never a bad idea either).
My Writings for Week Ending December 30th
I did manage to get a thematic post out this week, discussing the important celebration of Festivus, with Festivus Financial Airing of Grievances, and I have a lot to complain about this year, that is for sure! Next the feats of strength, get ready to rumble, baby!
My Best of 2016
Here are my 5 favorite and top posts of this year 2016:
- Debt is a Four Letter Word, came about after I saw an excellent presentation by Preet B. at the CPFC16, which was a fun time for me. Debt is a tool really, but this complete obsession with good debt is just plain wrong.
- My biggest class of articles that folks keep coming back and reading are my reviews of Quicken year over year, and this year is no exception with Quicken 2016 Canadian Edition Review, which can be summed up with, give it a pass. Quicken seems to be dying as a product.
- At times I forget that a lot of my readers are new to the game, and I should write more How To articles, and that is what What is Couch Potato Investing? to life. It is not that deep a concept, but it is a good introduction.
- The last two favourites of mine have to do with University Costs (yes that is still a big thing for me these days), Textbooks are too Expensive, is a question about how information can still be so darn expensive in post-secondary education? The Business of University Fees outlines just how many extra charges each University adds onto a tuition bill. The amount these schools charge is at times perverse.
Your Favourite Reads
Most Fridays I post many different stories by different folks, and here are some top ones from them:
- Michael James’ triumphant Selling Off the Last of My Individual Stocks, recounts his selling of his last individual stock, so he actually practices what he preaches, he is an Index Investor.
- Mark from My Own Advisor brought us So how would you manage a $1 million portfolio? A very good question to ask, because if you do it right, you will end up doing just that.
- There does seem to have been a big backlash against RRSPs as the primary savings vehicle and Robb from Boomer and Echo argues the point in RRSPs Are Not A Scam: A Guide For The Anti-RRSP Crowd
- One of my favourite articles written this year was on the Blunt Bean Counter, and it was Estate Planning for Disabled Beneficiaries – Henson Trusts. Henson Trusts used to be the only way to save for a disabled loved on, but now with RDSPs, there are other options as well (but the Henson Trust does have a few advantages that are not possible in RDSPs).
- One of my favourite reads is the honesty in Kerry from Squawkfox’s Is depression a good thing? Maybe. Maybe not. Some folks really only judged the writing on the title, which is really more of a tease than anything. Kerry is a really neat person to talk to, and she is one of the many people that make me glad I started blogging (every day).
- If there are still folks in the US talking about moving before Trump is inaugurated, they need to read What I Learned Moving Back to Canada from USA, from a Canadian Citizen who has been living down south for over 15 years.
- Holy Potato (who has been having a 2016 from hell), brings us Passive Investing and non-linearity, from his very good investing course, well worth listening to it.
My Favourite Youtube Channel
Preet B.’s Money School Channel has grown by leaps and bounds, and may soon end up being a Netflix show (seems the next logical step), here is the Personal Finance playlist to watch and enjoy:
2016 Random Thoughts the Whole Year
- 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
- January 29th, Doomsday Clocks, Rogue RRSP Receipts, Cash Crops and #MoneyStories
- February 4th Bouncing Loonies, RRSP Season, Superb Owls and #MoneyStories
- February 12th Lent is Here, Bricked iPhones, Love Day and #MoneyStories
- February 19th Digging Out, Ransomware, RRSP Time and #MoneyStories
- February 26th RRSP Time and #MoneyStories
- March 4th Welcome Americans and #MoneyStories
- March 11th Bank Rate Stays Put, Spring Forward and #MoneyStories
- March 18th Financial March Madness, Budgets and #MoneyStories
- March 25th, Easter is Here and some #MoneyStories
- April 1, Money Fools, Ronnie, and #MoneyStories
- April 8, Tax Time, Spring Delayed, Panama Papers and #MoneyStories
- April 15,Loose Money, Free Stuff, Hockey and #MoneyStories
- April 22,Disabilities, Tax Time, The Queen and #MoneyStories
- April 29,Pitter Patter Tax Time, RESPs are For Rich Folk and #MoneyStories
- May 6, Fort Mac, Mothers and #MoneyTalk
- May 13, Panama Papers, Google & PayDay Loans, Full Moons and #MoneyTalk
- May 20, Victoria Day, The People’s Elbow, Haircuts and #MoneyTalk
- May 27, Loose Money and #MoneyTalk
- June 3, CRA Itunes Pmts, RESP Scams and #MoneyTalk
- June 10, Portal to Hell Opens in Ottawa, BoC FSR and #MoneyTalk
- June 17, Fathers Day, Trump Housing Bubble, and #MoneyTalk
- June 24, Brexit, Fete National, Enhanced CPP and #MoneyTalk
- July 1, Happy Canada Day and Best Mid-Year Financial Stories
- July 8, Brexit Market Mayhem, Millenial Bashing and #MoneyTalk
- July 15,Brexit Hurts, Loose Money, Postal Strikes, Recounts and #Moneytalks
- July 22,More Pensions, New CTC, and #MoneyTalk
- July 31, Unknown Long Weekend, Windows 10 and #MoneyTalk
- August 5, The Olympics, Topless Spelunkers, and #MoneyTalk
- August 12, Women Rule, Less Jobs and #MoneyTalk
- August 19, Obnoxious 30 Year Old Retirees, Olympics and #MoneyTalk
- August 26,Farewell, EpiPens, Ombudsman Report and #MoneyTalk
- September 9,iPhone 7, High Tuition, Loose Money & #MoneyTalk
- September 16, Unemployment Up, On the Money, Debt and #MoneyTalk
- September 23, Rate Rises, Winter is Coming, Access Neutrality and #MoneyTalk
- September 30, Bye Bye CSBs, 36 Million Strong and #Moneytalk
- October 7, Thanksgiving, Knuckleheads, Debt & the Buddha & #Moneytalk
- October 14, Henson Trusts, RDSP Gripes and #MoneyTalk
- October 21, RDSP , New Mortgage Rules Hurts Economy and #MoneyTalk
- October 28, Overvalued Housing, EU Trade Deal, Overcharging Banks & Scary #MoneyTalk
- November 4, Curses Broken, Doomsday, and #MoneyTalk
- November 10, Grating America, Shocking Mornings, Making Debt Great Again and #MoneyTalk
- November 17, CPFC16, Black Friday, Mortgage Hikes and #MoneyTalk
- November 24, Black Friday is Here, Exciting Tax Calculations and MoneyTalk
- December 2, Air Miles Blinks, Advent Begins and #Moneytalk
- December 9, Xmas It Gift, Loose Money and #MoneyTalk
- December 16, Interest Rate Hikes, TFSA Limits and #Moneytalk
- December 23, Merry Christmas, Highspeed Internet a right, Inflation at 1.2 and #MoneyTalk
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Thanks for the kind words about my post about making the final leap to just indexing. It sure makes it simpler to run a portfolio entirely from a spreadsheet. All the best for 2017!
Yup and then just putting one or two points in your calendar saying , Rebalance?
Thanks for the support again this year Alan.
Best wishes to you and family for 2017. Family health is wealth.
To you too as well Mark! Let us hope we survive this snow laden winter!