Showing posts with label Canada. Show all posts

Thursday, February 9, 2017

RRSP Season: One Important Thing None of the Media, Banks or Financial Advisors Are Reminding You

Well, the Christmas and New Year's indulgences are finished for another year, the office parties "incidents" have blown over and you are probably due for another visit with your family members...this coming Family Day long weekend. Of course, that means it is that time of year - RRSP season!

Soon, if not already, you will be bombarded with commercials, calls from your bank, or the annual "Hi [insert client name here] how are you?" from your non-existent financial advisor (yes the one that sends you statements four or 12 times a year and is full of excuses).

Among many of the decisions are RRSP versus TFSA contributions, tax reduction from RRSP versus none from other vehicles, RESPs, do I pay down my mortgage first, do I borrow, etc? So many questions, and yet Canadians only give a tiny amount of time to address these critical issues (due to our illnesses of Twitter diarrhea, Netflix over-consumption and Facebook-itis). Yup, Canadians would rather wake up everyday and know about the latest trending video of kittens on Youtube rather than take 30 seconds to "look into" their retirement savings accounts - even just to know the number was higher or lower than the day before.

I have my own information and opinions on the aforementioned, some of which I have shared in previous posts (ETFs being the biggest topic of discussion, while fees to another broker are a RETURNS KILLER!). As such, from the Financial Post yesterday, I never realized the following should be given a much higher priority!

One of the most important features of an RRSP (that is a Registered Retirement Savings Plan - a previous article that was posted compared this plan to a "toy box" and you put "toys" such as bonds, stocks, ETFs, etc into the toy box or plan) - "RRSPs are one place the creditors will never be able to grab your money".

There are many methods and outlooks of investing. I prefer to select stocks/shares with a "cautious optimism", while another method of investing includes complete pessimism and investing for a worst case scenario - that is, bankruptcy. In this case, if you are facing the "do I contribute to my RRSP or TFSA" decision that BNN will over inflate in the coming weeks, keep this very important point in mind. Again, it is not highlighted by our robotic mutual fund representatives at the banks and financial advisors that call clients once a year.

http://business.financialpost.com/personal-finance/retirement/rrsp/rrsps-are-one-place-the-creditors-will-never-be-able-to-grab-your-money

Friday, December 2, 2016

The Justin and His Cuban, Chinese Cohorts

As posted earlier, the comparisons between "The Justin" and his Father, Pierre ("P.E.T.") are becoming more and more apparent. Not only has The Justin played out like his Father before him acknowledging the death and honouring the life of a communist dictator, whom which he has met,

The Justin also blatantly has held court with wealthy Chinese "businessmen" (they are called "billionaires" in the media). Whether Chinese or Chinese-Canadian, lacking specific residency evidence, my hunch is that a good part of this group spends most of its time outside of Canada; yet has the ear of Canada's leadership and how policy and laws are conducted in this country....for Canadians.

May I remind readers, and never are these connections made by our robotic and mundane news networks, the timing of when these cash-for-access meetings were held immediately preceded an announcement by a Chinese insurance company Anbang (as referred to by the Globe & Mail, "A massive Chinese insurance company with a murky ownership structure") purchasing a significant stake in a British Columbia senior care provider (“Retirement Concepts”), resulting in an important role in the delivery of health care in B.C. In this country where health care is deemed to be sacred and any outside, non-governmental or foreign providers are vehemently frowned upon, I will write this again. A Chinese insurance company has purchased a significant stake in a British Columbia senior care provider, resulting in an important role in the delivery of health care in B.C.

Due to the size of this +$1.0B investment, this is deemed to be a “foreign takeover” and as such is currently under scrutiny by the federal government’s Investment Review Division (all transactions greater than the $600-million threshold need to be considered in light of a “net benefit” test to Canada). The decision will be up to Innovation Minister Navdeep “what does an Innovation Minister do?” Bains. Minister Bains, who unlike other members of The Justin’s cabinet, is actually and officially Canadian…that’s right Maryam Monsef.

Another connection the media at large have failed to outline, this Anbang purchase of Retirement Concepts comes at a time when British Columbia Premier Christy Clark is seeking both hard and soft trade-offs with regards to the recent Trans Mountain pipeline announcement by her fellow Liberal, The Justin. Hmmmmm…….

Thursday, October 20, 2016

Canada's First Past the Post Voting System Suddenly OK...now that the Liberals Have Won

As the Liberal "governing by undoing" continues, this time clearer heads have prevailed. Suddenly, with no minority government or opposition to worry about, the Liberals have completely changed their whiny, spoiled, school yard kid stance (the NDP is also guilty) on Canada's electoral system, that has worked for almost a century and a half, to "the rules might not be so bad after all....this majority government kind of feels good….great system!".

Translated (from French to English for non-Canadian readers) from an interview “The Justin” had with La Presse, "Under Mr. Harper, there were so many people who were unhappy with the government and his approach that people said, ‘We need electoral reform in order to stop having governments we don’t like”. Canadians, if you don’t like the party in power – vote for someone else at the next election, that’s what the “system” is for! It is also called “casting a vote” about which many Canadians are apathetic. The Conservatives obtained its majority and were thrown out under the same rules.

(Or more ironically, at the end of The Jusin’s majority-lead term, when the balloon deficits, weaker C$, reduced military, further citizenships reinstated for terrorists, increased personal/corporate/environmental taxes and cancelled pipelines are finally on the record, maybe we will be talking about electoral reform again? )

http://www.theglobeandmail.com/news/politics/less-urgency-to-reform-electoral-system-after-harper-defeat-trudeau-says/article32443900/

Monday, August 29, 2016

Thousands Unemployed in Alberta and we need Foreign Workers for LNG Projects in BC.....???

These two headlines and accompanying articles literally appeared in the same edition of Financial Post on line today...am I the only one slapping my forehead right now?

http://business.financialpost.com/news/energy/liberals-looking-at-foreign-workers-for-liquefied-natural-gas-projects?__lsa=a553-e3db

http://business.financialpost.com/news/energy/jobless-in-alberta-tens-of-thousands-of-energy-professionals-are-out-of-work-and-out-of-hope?__lsa=a553-e3db

"

"Liberals looking at foreign workers for liquefied natural gas projects"

"Jobless in Alberta: Tens of thousands of energy professionals are out of work and out of hope"

Ontario - Wake Up! You Are Being Run by a Left Wing Extremist, Gaffe Filled Liberal Government!!!

Love him or hate him, you must listen to Kevin, and he has hit it on the head again about Wynne's Liberals. Left wing extremism at its highest degree. Absolutely shocking some of the payments and political back scratching that has occurred. All in the face of $308B in provincial (yes, Ontario ONLY) debt.

"Hi Premier Wynne,

I’m worried.

I asked you to keep me informed about the $1.9 billion you are extracting out of the Ontario economy in new carbon taxes. I was excited when you promised lots of new jobs and reductions in carbon emissions. Then I saw the July jobs report. Wow, 36,100 Ontario jobs lost in a single month, the worst decline since the recession, and you still haven’t told me any good news about carbon emission reductions. I guess your new plan is not working.

Maybe it would have been better to leave that $1.9 billion in the hands of the Ontario businesses that were using it to hire employees before you taxed it away from them...."

And it goes on....

http://cnews.canoe.com/CNEWS/Canada/2016/08/28/22662379.html

Friday, June 10, 2016

Mr. Hockey: No Matter What Sport You Play Professionally Over Five Decades, They Call You Mister

An incredible rags to should have been more riches story. I'm only finding out about some of the details of his earlier life. But amazing how his earlier predicament prepared him as an ideal and well rounded NHL star. From all accounts he was a gentle giant (wrapped in a tough, skilled, full of heart, Canadian hockey player's clothing)

http://www.tsn.ca/gordie-howe-1928-2016-1.504811

Friday, April 22, 2016

"Social License" for Canada's Resource Projects - Who's Definition?

(Never thought this day would come but here I am updating a blog on a flight from Hawaii to San Francisco...and it's a United flight!)

Interesting article. No matter what die hard side of the argument you have chosen to be on, it is worth the read.

Discuss...

http://business.financialpost.com/fp-comment/ross-mckitrick-lets-stop-pretending-social-licence-is-an-actual-thing

Wednesday, April 6, 2016

No Playoff Night In Canada, Watch Rogers Shares

Hard to believe no Canadian teams made it this year. Other than growing up during an era of the Bobby Orr Boston Bruins (and how have those days have changed) I have no affinity for any US teams with exception of course for Sidney Crosby and the Penguins.

You would think the NHL is loving this guaranteed all American final for ratings etc. However, there is too much apathy from fans now and that is the biggest risk for a professional sports league. Especially where it sits behind NFL (SuperLetDownBowl), MLB (is anyone fit in this league?), NBA (shorts are too long, too many tattoos) and NASCAR (dizzy car driving).

With the last furious round of expansion and some recent rightings of past wrongs (the Jets are back), the rivalries are diluted and fans don't really care much or at all for the next time Columbus or a Phoenix rolls into town.

Let's hope a Canadian team can elevate itself through the acquisition of this year's first overall pick (as long as it isn't the Habs!).

And that's your unbiased view...

http://www.tsn.ca/priority-no-1-for-every-canadian-team-1.465748

In the meantime, I'll be watching my Rogers, Boston Pizza shares for any price weakness.
http://web.tmxmoney.com/quote.php?qm_symbol=rci.b

Thursday, March 10, 2016

Conference: Prospectors and Developers Association of Canada

http://www.financialpost.com/m/search/blog.html?b=business.financialpost.com/news/mining/sentiment-muted-at-pdac-conference-despite-signs-of-life-in-mining-industry&q=Pdac&o=32

First of all, a conference in Toronto in March that doesn't suddenly plunge to minus 20 degrees Celsius....priceless. It felt like Vancouver with the rain on Thursday while scrambling for an umbrella (different rules at the hotels in Toronto; in Vancouver umbrellas are handed out like hallowe'en candies past their shelf life)

Regardless of who has the final say on head count, yes there may have appeared to have been less people than years past, one of the aisles was barren, the cross lanes were wider and the core shack was in the middle of it all (not the separate building it usually is in).

An industry event that I'm sure is the envy of many industries, on a size and scale that is significantly important to the city of Toronto and Canada.

In summary, the law firms continued to be present with many exemplary evening events in which to network, my personal meeting schedule could not have been more full from Saturday afternoon until the following Friday afternoon with several opportunities to bring back to Vancouver, no more than two sit down meals, and a few companies had some "too stylish guests" curiously apppear around 10:30pm.

Monday, February 29, 2016

Canada has created its own real estate problem in Canada's largest cities

Thanks to the lack of controls, oversight and basic information gathering of which any association has such a duty to those it serves, Canadians in the major cities are reeling from valuations that have resulted from Canada's own fault. With no restrictions on foreign purchasers of real estate in Canada and the Federally administered Immigrant Investor Program (although cancelled in its current form, it still survives in some provincial forms), Canada has invited and created its own real estate problem. Although a scoping type study shedding some light on the details of such real estate purchasers was done in Vancouver in late 2015, it was met with and twisted into anti-privacy and ethnic profiling arguments. It is merely data collecting, and as a consumer of such products, should be available to the public at large to make informed decisions. Instead we are shovelled the same "too much demand (can't say from where) and not enough supply...so sell now!"

http://www.financialpost.com/m/wp/news/blog.html?b=business.financialpost.com/diane-francis/all-canadians-are-paying-the-price-for-conceal-estate-in-toronto-and-vancouver&pubdate=2016-02-29

Sunday, February 28, 2016

Kevin O'Leary for a political leadership role

Love him or hate him, he knows the value of hard earned dollars, especially AFTER TAX DOLLARS. A lot of Canadians have written him off as a "clown", but after the recent "circus" Canadians have voted in, it would be interesting to at least see Kevin as an advisor to a Finance Minister one day. Looking forward to his commentary March 22nd when Morneau releases the first Liberal Federal Budget (or a "Dudget")

http://www.theglobeandmail.com/news/politics/kevin-oleary-eyes-run-for-conservative-leadership/article28937824/

Similarly CBC reporting a potential entry into the Liberal party

http://www.cbc.ca/beta/news/politics/kevin-o-leary-liberal-leadership-1.3467710