Another day to celebrate with the proletariat, our brothers and sisters who have thrown off the shackles of oppression, happy May Day! During the COVID19 lock down celebrating any day, is something. I think it is Friday (May 1, 2020) today?
More talk of restarting things in Ontario, which will be a slow process. In Ottawa things are very bad in our Seniors and Care Residences, and that is a concern for all of us. How to keep our Seniors and those who need our help, safe, is the most important plan.
Not sure about the wearing a mask thing. I did see that the NFL on-line store is selling NFL Team themed masks, which would be cool. Wearing a Vikings mask would be good, but I would really like to walk into a bank wearing an Las Vegas Raiders mask.
Now is the time to ask for help or lowering of fees from your Bank, Insurance Company, or Internet Provider/Phone Company. Banks have claimed they will lower rates, but I haven’t seen it (TD’s Unsecured Line of Credit is at 5.60% (their prime is 2.6%), yet my Tangerine Line of Credit is at 2.45%). Your Car Insurance should be lower, you are not driving as far, yet I didn’t get much back from my Insurance company. As for Bell, they have actually raised my rates. Yes, the answer is always NO, unless you ask. If your income is curtailed, you should ask for all the help you can get.
| Inflation (year over year February 2020) | 2.2% |
| Bank of Canada Overnight Rate April 21st | 0.25% |
| Unemployment Rate (as of March 2020) | 7.8% |
| GDP Growth January 2019-20 | 1.8% |
| Population of Canada (Jan 1, 2020) | 37.894 Million |
| CIBC current prime rate | 2.45% |
| BMO current prime rate | 2.45% |
| Scotiabank prime lending rate | 2.45% |
I did an interview with Tom Drake and that seems to cause more posts on the topic of RDSPs:
Some interesting reads for your weekend, while you are still practicing social distancing (I hope).
Gail Vaz-Oxlade has been posting about her Master Money Class, and this tweet is an important thing for folks with kids with a Disability Tax Credit.
This one from the New Yorker is a bit too topical.
I must admit I am a bit of a Fanboy for Stephen Fry, fairly sure I’d watch him read quietly for hours.
Preet is showing off his prowess in Financial Matters, and also his ability to grow a very bushy beard.
One more from Doug Hoyes, which really does make me sick.
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