Canadian Consumer Debt Load at $1.4 Trillion
Discover the state of Canadian consumer debt in 2013, investigate its year-over-year changes, and determine whether its increase signals an optimistic outlook for the economy. Keyphrase: consumer debt
Unemployment Down, but not that good news to start 2014
Canada Jan 2014 Labour Force Survey brings mixed news: employment jump but unemployment drops? Learn why Statisticians make so much money!
Olympics, Not Super Bowls, Creationism and #FreeFormFridays
2014 Olympics Opening Ceremonies and Soshi Stadium’s Doppleganger: The Super Bowl. Is the Soshi Stadium avant garde or a copy of the Big Owe in Montreal? Why was the Super Bowl a yawner? Learn stories of corruption and interesting parallels.
TFSA Now and Then
A few years ago when TFSA‘s were a new and exciting thing, our friend Larry MacDonald did an article featuring me (and my son in the picture). The article discussed what TFSAs could be used… Read More »TFSA Now and Then
I did my RRSP and TFSA Now What?
After contributing to my RRSP and TFSA, I often hear people ask, “Now what?” It’s a fair question—but the real question should be: What did you invest in once the money landed?
Far too many people drop funds into a TFSA “savings” account earning 1.2%, or worse, let their advisor push them into mutual funds with high MERs (Management Expense Ratios)—sometimes as high as 3.2%! That’s not wealth-building. That’s giving your money away in fees.
The TFSA is a powerful tool, but only if used properly. It’s not just a tax-sheltered savings account—it can (and should) be a vehicle for investing in low-fee, long-term growth assets. The same goes for your RRSP.
Bottom line? If you’re handing over $2,000 to a stranger at a bank and saying, “Do something with it,” you need to spend more time learning about your money than shopping for your next TV. Otherwise, the real cost isn’t the MER—it’s missed opportunity.
Keywords: TFSA, MER, RRSP, personal finance, Canadian investing, mutual fund fees, financial literacy, low-fee investing
