This and That: Retroactive TFSA Contribution Room, Financial Literacy and more…
Posted on July 30th, 2009 by Canadian Capitalist
- In a chat with Jon Chevreau, actuary Malcolm Hamilton proposes providing retroactive TFSA room to help seniors who have lost RRSP contribution room in the current bear market. While the proposal generated overwhelming support among older Canadians nearing retirement (check out these responses on the Wealthy Boomer), the younger crowd reacts coolly to the idea as the posts on this thread on Canadian Money Forum indicate.
- Ellen Roseman wonders if efforts to increase financial literacy work at all. Unfortunately, financial literacy is like waging an asymmetrical war. The financial firms can simply outspend schools and non-profits.
- Jason Zweig warns investors not to confuse economic growth with stock market returns. History suggests the two are negatively correlated.
- Statistics Canada reckons that Canada’s inflation rate is negative. Rob Carrick writes that he is experiencing significant inflation on many household expenses.
- Four Pillars says that spending cash is the same as borrowing if you have debts.
- Michael James says that Malcolm Hamilton’s proposal to boost TFSA contribution room amounts to a transfer of future wealth from young to the old.
- Million Dollar Journey weighs in on whether to pay off the lowest balance or highest interest debt first.
- In the light of the Earl Jones affair, Where Does All My Money Go? reminds investors to immediately check if their advisor is registered.
- The Dividend Guy Blog featured a post on the importance of reinvesting dividends.
- Chaya Cooperberg notes that the financial behaviour of our parents has a deep influence on how we handle our finances.
Related Reading:
- FAQs on Tax-Free Savings Accounts
- Ideas for your Tax-Free Savings Account (TFSA)
- Location, Location, Location: Where to put portfolio components?
- Media Articles on TFSA
- RRSP versus TFSA versus Mortgage Paydown
Related posts:
- Seven Reasons why Retroactive TFSA Room isn’t such a Good Idea In an interview with Jon Chevreau of the Financial Post,...
- Withholding tax & TFSA Investments In today’s post, I’ll try and answer a question on...
- Location, Location, Location: Where to put portfolio components? In a recent series of posts, reader Phil was looking...
- Why ban swap transactions in TFSA accounts? The Department of Finance is cracking down on what it...
- Defined Benefit Pension vs Defined Contribution Pension With retirement being a hot topic in personal finance, I...
Filed under: Finance, Money Saving Ideas
