Commentary

Five years ago, financial blowhard advisor Kurt Rosentreter published a newsletter with the daunting title, “Canadian 30 Year Olds Are Screwed.” The author displayed the kind of “get off my lawn” finger wagging attitude all too common in generational wars; using ridiculous and patronizing claims like, “people spend more time on the Internet than their finances,”…

Sean Cooper didn’t just pay off his $255,000 mortgage in three years; he taught us all a lesson in personal branding. Mr. Cooper, a pension analyst by day, mild-mannered blogger by night, took an almost Machiavellian-like approach by achieving fame through mortgage freedom. Buying a home in one of Canada’s most expensive cities at the…

So here I am, sidelined by a miserable summer flu that still has a strong grip on me even at the end of week two. My head is so foggy that I’m reduced to watching TV’s inane summer programming, the Mike Duffy trial, election promises, and talking heads explaining our current economy. With this in…

No homeowner appreciates unsolicited visits from companies selling door-to-door. In fact, a survey conducted by the Trading Standards Institute (U.K.) found that 96% of the 9,000 people questioned were opposed to uninvited door-to-door sellers. As I write this, home alarm companies, such as Vivint, and energy companies, such as Just Energy and Direct Energy, have…

Loving parents will occasionally help their children in a financial crisis and/or pay outright for certain expenses: University tuition and expenses – either through funding RESPs or directly when they are due. Help with the down payment on their first home. Wedding costs. Provide a place to stay when unemployed, divorced, etc. We also often…

A few items in the financial news caught my attention recently and I wanted to share my thoughts on the topics of TFSA contribution limits, Canadian household debt, and provincial tax rates. Here goes: 1. TFSA annual contribution limit to increase to $10,000. The original TFSA rules in the Tax Act specify that the annual contribution…

2014 had some attention-grabbing financial stories that are no doubt being featured in most business news year-end recaps. Here are some random events that I found of interest. 1. Burger King gobbles up Tim Hortons Canadian’s beloved Tim Hortons chain agreed to a merger with Burger King creating the world’s third largest fast-food company –…

Retailers stopped accepting cheques several years ago as consumer preferences shifted from paper to plastic.  Many feared that the final nail in the coffin for cheques came when the federal government announced plans to phase out cheques for Canada Pension Plan payments and tax refunds by April 2016.  After that it will be direct deposit…