Friday, March 8, 2013

Short Takes: Saving on Smart Phones, Overdraft Fee Changes, and more

My posts for this week were

Takeaways from Warren Buffett’s 2012 Letter to Shareholders
Front-Loaded Expenses for the Year
Renaming the TFSA: TFSP

Here are my short takes for some weekend reading.

SquawkFox pays $783 for her smart-phone, but ends up saving $480 over 3 years.

Rob Carrick reports that Canada’s big banks are changing the way they charge overdraft fees. I’ll let you guess whether costs are going up or not.

Larry Swedroe cuts to shreds the latest excuses from active managers for failing to beat their benchmarks.

Canadian Couch Potato explains why right now GICs are better than bonds in taxable accounts.

The Blunt Bean Counter has a list of the top 15 ways you can help your accountant focus on saving you money on your taxes instead of wasting time trying to figure out what is in your shoebox.

Preet Banerjee interviews Larry Swedroe about his latest book Think, Act, and Invest Like Warren Buffett (my review here). Larry is an excellent speaker; this interview is worth a listen.

My Own Advisor has some criticisms of the personal RRSP strategies of 4 financial experts.

Big Cajun Man explains that when it comes to splitting pension income, there is a catch with splitting CPP benefits.

Million Dollar Journey is getting close to the magic million dollar net worth mark and presumably shutting down or renaming the blog :-)

4 comments:

  1. Michael, thx for link. One of your readers wondered why you just cannot re-deposit money back into your TFSA in the same year, which would solve many problems. I have also wondered that and I am sure there are some policy reasons. You noted a swap concern, however, there are anti-swap rules, so not sure that is the reason.

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    1. @Mark: I'm not sure whether the swap rules existed when the TFSA was first introduced. If not, this could explain the rule for waiting until the next calendar year to replace withdrawals. A more mundane explanation is that the TFSA designers just didn't want people to treat TFSAs like a regular savings account.

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  2. Thanks for the inclusion, a commenter pointed out there is a maximum you receive from CPP if you are also receiving survivor benefits, so you might be safe (i.e. your wife may not want to bump you off, you might be worth more alive).

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  3. Thanks for the mention Michael. I enjoyed the podcast Preet did with Swedroe, Larry is a pretty bright and witty guy.

    I'll probably read his new book.

    Enjoy your weekend!
    Mark

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