Whew! The first three months of 2019 are already in the rearview mirror. Tempus fugit! Am I right or am I right? A few weeks back, I was happy to report that the Tax Free Savings Account (TFSA) contribution limit was raised to $6,000 for 2019. If you’ve been maxing out your TFSA contribution, then […]
Longtime readers of this blog are familiar with my plan to build an army of little money soldiers. Each soldier is a dividend-producing unit in my investment portfolio. Every month, I direct money to my brokerage account and buy as many units as I can afford in my preferred exchange traded fund. I’m not proficient […]
It’s Registered Retirement Savings Plan season! From now until the last day of February, there will many advertisements all over the place exhorting you to make a contribution to your RRSP. If you need more detailed information about the rules, then I would suggest that you visit the website for the Canada Revenue Agency. Alternatively, […]
What are your priorities for your money? I’m not asking to be airy-fairy. It’s simply been my observation that people who know what their priorities are allocate their money in a way that ensures that their priorities are met. Speaking for myself, saving for a comfortable – and hopefully early! – retirement has been one […]
Well, 2019 is here and nearly two weeks are under our collective belts. How are you doing with those new year’s resolutions? Or as a witty little photo on Instagram called them: your casual and in-no-way-legallly-binding promises to yourself? Personally, I don’t make resolutions. Hats off to those of you who do, but I prefer […]
Cherished Readers, I have come to an uneasy decision and I’m not sure if I’m right. I used to buy units in the XDV exchange traded fund (ETF) issued by iShares. When Vanguard came to Canada, I stopped buying units in XDV and started buying units in VDY. Why did I make the switch? Both […]
In 2019, the contribution room for the Tax Free Savings Account increases from $5500 to $6000. This is great news! There’s a big debate about whether it’s best to invest in a TFSA or in a registered retirement savings plan. I’m not going to weigh in since I’m not certified to give expert advice in […]
Debt is a cancer to building intergenerational wealth. The phrase intergenerational wealth conjures up images of the very, very rich who are able to bestow entire empires upon their progeny. Truthfully, the concept doesn’t require anything quite that elaborate. My definition of intergenerational wealth is the ability to provide financial assistance to your offspring in […]
I got my first part-time job in grade 11. Every two weeks, roughly $137 was plopped into my bank account via electronic deposit. And every two weeks, I would go to the bank machine and manually transfer $50 from my chequing account to my savings account without fail. It was simple and easy. When I […]
One of the smartest things I’ve ever done with my money was to learn how to separate today-money from tomorrow-money. Today-money is the stuff that gets you from one day to the next – it’s the money for groceries, for your shelter, for your transportation, for your charitable donations. Tomorrow-money is the money that you […]