Friday, October 14, 2011

Short Takes: Fresh Take on RRSP vs. TFSA, Mortgage Pre-Payment Penalty Lawsuit, and more

The Wealthy Barber, David Chilton, gives us an excerpt from his latest book with a fresh take on the RRSP vs. TFSA debate. In his engaging style he explains that the problem with RRSPs is that people blow their income tax refunds, and the problem with TFSAs is that they are too easy to raid.

Canadian Mortgage Trends reports that a class-action lawsuit has been filed against CIBC mortgages.

Thicken My Wallet says that recessions are a necessary part of our economic system and we shouldn't pay much attention to media hysteria.

Preet Banerjee says that trying to make it as a market timer is like trying to make the NBA.

Retire Happy Blog asks whether you have a money mentor. I used to have money mentors but in my efforts with this blog I'm trying to develop the knowledge to be a money mentor myself. One thing I've learned is that it is mostly pointless to offer unsolicited advice. Curiously, (mildly) mocking people's poor choices is more effective at drawing them in than directly offering help.

Canadian Capitalist has some evidence to back up the claim that when it comes to stock market volatility, it's not different this time.

Big Cajun Man doesn't think that a lack of complaints is a good indicator that all is well.

The Blunt Bean Counter writes about strong feelings about market movements. I think most investors who watch the market have opinions about the market's near future. I've learned over time that my opinions aren't worth anything.

Million Dollar Journey gives us a primer on closed-end funds. An important thing to know about these funds is that they can sell for more or less than the value of the equities they hold.

5 comments:

  1. Thanks for the inclusion, enjoy the fall colours, they seem to be washing away...

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  2. The Blunt Bean CounterOctober 14, 2011 at 7:10 AM

    Michael, thx for link. My issue is when I see a world fraught with economic issues and not much upside, even if those issues are sidestepped; why would I want to be fully invested. But, as you and many note, timing is the issue and that is why I am still working for a living and not writing investment guru books.

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  3. Thanks for the mention Michael. Dave and I had long discussions on the assumptions surrounding the TFSA versus RRSP topic. I hadn't thought that the TFSA is set up to be easily tapped. So that's definitely a strike against it.

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