Archive for March 2014
Our $35,000 Basement Renovation: Why We Paid Someone Else To Do It
One of the regrets we had with our first home is that in the eight-and-a-half years we lived there we never got around to finishing the basement. We vowed not to make the same mistake when we built our new home nearly three years ago. So after we had the basement framed last summer we…
Read MoreTangerine: Update On The Bank Formerly Known As ING Direct
When we last checked in with ING Direct CEO Peter Aceto he said the company had until May 2014 to shed the ING name and rebrand itself. The online bank was purchased by Scotiabank in November 2012 and recently announced its new name – Tangerine – which is ready to officially launch on April 8th,…
Read MoreRandom Musings: Beating The Index, Do What You Love, And More
I read a lot and often come across ideas and concepts that are not really explained to my satisfaction. Here are some things that I often think about. Beating the Index Many financial writers and advisers are touting the benefits of the passive investing strategy of an index-based portfolio for low cost and good performance. …
Read MoreWhy Age-Based Savings Benchmarks Are Dumb, But We Look Anyway
Whether it’s healthy or not, we all make comparisons in many aspects of our lives – where we live, what we do for a living, what kind of car we drive, even how we raise our kids. But society doesn’t talk openly about money and so we look to the experts to set benchmarks and…
Read MoreWeekend Reading: Cognitive Bias Edition
Lately I’ve been interested in behavioral finance – the effect our emotions and inherent biases have on the financial decisions we make. How many of us have been reluctant to sell an investment at a loss, and rationalize that we’ll sell once it “comes back” and we break even? That type of behavior is called…
Read MoreWhat Are You Saving For?
We all know that part of smart financial behavior is to get into the habit of saving a portion of your earnings. The “rule of thumb” for savings is 10% of gross income. Many save for a “rainy day,” or “nothing in particular” rather than towards any specific goal or focus. Everyone has different goals,…
Read MoreMy RRSP Portfolio Update: 2014
I’ve revamped my RRSP strategy several times over the last few years but now the goal is crystal clear: Use up all of my unused RRSP contribution room within two years and then contribute enough each year to max out my RRSP going forward. Contributing to a defined benefit plan at work means I receive a…
Read MoreIncome Splitting 101: Tips On Keeping It In The Family
South of the border, the heads of U.S. households can elect to file joint income tax returns, pooling their income and deductions. This option brings considerable tax savings to families in which one spouse has a significantly higher income than the other; their joint tax bracket will likely be lower than it would be otherwise.…
Read MoreThe High Costs Of Health Care
The grim reality is that our population is aging and this is always a factor in health care costs. All the technological advances and health care innovations keep us living longer and longer while managing chronic conditions that would have resulted in death not that long ago. Related: How mobile technology can improve your health…
Read MoreMy Loyalty Never Got Me A Free 42″ TV
Anyone in marketing can tell you that it costs a company more to acquire a new customer than it does to keep an existing one. That’s because few of us like change, particularly the type of change that can disrupt our day-to-day lives. It’s a hassle to switch banks, or internet and cable providers, so…
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