It seemed like I was everywhere but here this week. The Canadian Financial Summit launched on Thursday and my 30-minute retirement readiness interview with host Kyle Prevost was included in Friday’s line-up. There’s still time to catch Saturday’s sessions and/or get the All Access Pass for instant lifetime access to all three days (25+ sessions) for just $97.
I also hosted my first AMA (ask me anything) on Reddit this past Thursday. What a fun experience answering practical money questions from the Personal Finance Canada community that boasts more than 131,000 members. You can read the entire AMA thread here.
Both the Summit and AMA sent over dozens of new subscribers, so thanks for joining our community here and welcome!
As many of you know, I also post a ‘Money Bag‘ feature from time-to-time where I answer reader questions. I’m hoping to publish another one in early October so I’d love to hear your burning questions about personal finance, investing, or retirement. Go ahead and ask me anything in the comments here and I might feature your question in the next edition of the Money Bag.
Speaking of questions, my latest Toronto Star column on getting the best mortgage deal generated a bunch of feedback from readers. Not surprisingly, the angriest and most critical replies came from mortgage brokers – who I suggested you could side-step by using a rate comparison site. It brings to mind this famous Upton Sinclair quote:
“It is difficult to get a man to understand something, when his salary depends on him not understanding it.”
On a personal note, I’ve got some upcoming travel that will have me leaving behind this unpleasant southern Alberta snow storm and heading to Seattle for a couple of days. I’ll be at the Los Angelas Rams vs. Seattle Seahawks game Thursday night, watching my first live NFL game in 20 years. Should be fun!
The following week my wife and I are off to Vancouver to celebrate our anniversary with a kid-free weekend. Thanks to the RBC WestJet World Elite MasterCard’s latest $250 welcome bonus (and first-year free) and companion voucher the flight cost just $99+ tax.
Despite the busy travel schedule I’ve got a great line-up of posts to share here next week, including a look at the ridiculous claim that passive investing is in a bubble, plus we’ll take a look at preparing for the next recession.
Stephen Weyman at Credit Card Genius shares seven things you’re paying too much for while travelling.
Canadians might be finally getting the message about low cost investing. ETF sales eclipsed mutual fund sales in August. Despite the positive sales, we still have a long way to go. Mutual fund assets sit at $1.57 trillion compared to ETF assets of $186 billion.
Mark Seed interviews Jonathan Chevreau to discuss how active and passive investing can exist in retirement harmony.
And here’s another good one from Mark about why you should consider downsizing:
“Downsizing can open up a new chapter for you, too. Whether you are an empty-nester, single, a couple with no kids or you’re simply aspiring to start fresh – downsizing can offer a host of environmental, physical, mental and financial benefits.”
Bridget Casey wound up with an unexpected LIRA after a temporary work contract ended. Here she digs into what exactly a LIRA is and what to do with it.
Tax credits, tax rates, and tax deductions. Desirae Odjick decodes the 2019 election promises.
Nick Magguilli (Of Dollars and Data) explains why there are no secrets and no easy answers in investing.
Rob McLister (RateSpy) gives a thorough explanation of how much you can borrow with a reverse mortgage.
One of the biggest complaints about the Canada Pension Plan is its meagre survivor’s benefit. Rob Carrick digs into that and argues the cost of a strong CPP is that the survivor’s benefit is pretty bad.
- Did you know the average CPP payment in 2019 is $679.16 per month (or about $8,150 per year)?
Jonathan Chevreau explains how to avoid tax nightmares when RRIF withdrawals start.
An interesting first person account on how long it takes to get used to being retired:
“I did not miss work, but I did miss the camaraderie with my peers a great deal. So, I became a social animal going out for far more coffee klatches and two-hour lunches with friends and ex-colleagues than I could afford on my reduced income. As time passed, it became boring and purposeless to do this several times a week anyway.”
Finally, a shocking claim from Telus that a former senior manager used her corporate credit card for more than $180,000 in personal expenses. Wow.
Have a great weekend, everyone!