Pretty bad month compared to this time last year. My income for the month was pretty good but the TSX dropped 2.6% so my portfolio didn’t fair too well. Also had my car maintained and washed, which is part of my discretionary spending. My swing trade on volatility is also under water right now, which drags my net… Read More »
Compared with other nations, developed countries are the best places to live for anyone who wants an equal opportunity to become successful. Yet some people in these countries like Canada and the US are still upset about income inequality, a lack of proper health care, education, and a poor standard of living for the minority, despite the fact… Read More »
This is a continuation from the RRSP post earlier this week. There is a legit way to split the income between two people to minimize their overall taxes. It’s called a spousal RRSP and it’s one of the best tax saving strategies available to couples. How a Spousal RRSP works In a spousal RRSP one person makes a… Read More »
RRSPs can be used to lower our overall tax burden. Continued from How to Use the RRSP: Part 1 Another use for an RRSP is to treat it as a jobless fund. I don’t have an emergency fund in the traditional sense, but if for whatever reason I stopped working, didn’t qualify for E.I. benefits, and ran out of TFSA… Read More »
Last month a reader asked for my take on RRSPs (401K plan equivalent.) This topic is long so I’ve broken it up. The truth is, I like the RRSP, but probably not for the same reasons as other people. The basics of how RRSPs work is they defer our taxable income to another year when we’ll hopefully be in… Read More »
There are many advantages to investing while we’re young. There isn’t a specific best starting age though because our circumstances vary. I started at 21 because that’s when I got my first real job and started making money. It’s only been a few years but I can already see lots of benefits of investing in my twenties rather… Read More »