The Canadian Money Magazine

By Big Cajun Man | Some of the better places to find information about Personal Finance in Canada (and the world)

How Important Are Credit Scores ? - Canadian Personal Finance Blog

I have been trying out social media to see what I can learn. About a week ago I put up a simple Twitter Poll on @bigcajunman, about Credit Scores and …

High Blood Pressure

No You Aren't Married to Him - Canadian Personal Finance Blog

An amusing story arose from our application for an RDSP for our son. We had applied in November and the account was set up (see New Programs are …

Emotional Money Choices

My wife and I are savers, and I like to think we make mostly rational financial choices. But there are a few less than rational things we do with …

400 Richest Americans Own More Than 150 Million Of The Nation's Poorest: Study

“U.S. wealth concentration seems to have returned to levels last seen during the Roaring Twenties,” economist Gabriel Zucman wrote.<p>A new study of the …

Financial Valentines Day - Canadian Personal Finance Blog

Yes the most special day for amorous lovers of Personal Finance is coming on Sunday. Now all good Financial Bloggers know that Saint Valentines is …

Advice to the Love Lorn (Pension Potential) - Canadian Personal Finance Blog

For my readers out there, who are searching for Mister or Ms. Right, and are not having much luck, here is something to add to your criteria in your …

RRSP Rebalance Season

Tweet I have given up ranting about how the whole concept of “<b>RRSP Season</b>” is idiotic (you should be putting money in your <b>RRSPs</b> (if you that is how …

Exploding 19 Common RRSP Myths

Myth #12: Converting my RRSP to a RRIF is my only option when I turn 71<p>You also have two other options:<p>take out the account value as a lump sum cash …

Retirement (Canada)

Do You Have a Financial GPS? - Canadian Personal Finance Blog

For Christmas, a few years ago, my in-laws gave me a GPS. I am not sure of the exact reason why. It might be that they think I get lost a lot, or …

Collecting Canadian (CPP) and US (SS) Pensions

Now that I am getting to nominal retirement age, I am investigating what pensions I might get from the two countries where I worked - USA and Canada. …

Social Security

The Most Hideous Financial Image Ever - Canadian Personal Finance Blog

I opened my Ottawa Citizen a few years ago and I saw this picture and I was hit by a combination of revulsion, anger, and lurid curiosity.<p>Revulsion …

Financial Shock Collar - Canadian Personal Finance Blog

After yesterday’s epiphany of the Financial GPS, I think I have streamlined the concept. I think I have exactly what might be needed for a chronic …

Pensions and Spousal RRSPs - Canadian Personal Finance Blog

When I started writing I wrote many paragraphs on the importance of <b>Spousal RRSPs</b>, to enable being in a lower tax bracket when you retire. A problem …

High-Income Bloggers are Ruining Personal Finance

<b>Something’s Wrong in the Neighborhood</b><p><i>If you enjoy this post, please vote for it in the Rockstar Finance Rumble here (bloggers)</i><p>All is not well in the …

Personal Finance

Tax Deferral Savings Plan ( your RRSP )

Tweet I think if the <b>RRSP</b> was named the <b>Tax Deferral Savings Plan</b> it would clarify to folks how it all works. Most folks simply think of it as a Tax …

Exclusive: Facing crackdown in Canada, drugmakers offered billions in price cuts

TORONTO (Reuters) - Canadian pharmaceutical industry lobby groups, in an effort to head off a planned crackdown on prescription drug prices, offered to give up C$8.6 billion ($6.6 billion) in revenue over 10 years, freeze prices or reduce the cost of treating rare diseases, according to interviews …

Health Care

A Real Service For Chronic Over Spenders - Canadian Personal Finance Blog

I have had some fun with a few <i>over the top</i> ideas for those who cannot control their spending (i.e. their <b>internal shock collars</b> seem to have gone …

Digital exchange loses $137 million as founder takes passwords to the grave

QuadrigaCX survivors try to hack encrypted laptop in hopes of accessing cold wallet.<p>A cryptocurrency exchange in Canada has lost control of at least …

Technology

Portraits in Cheapness: Made $2M a year and was Frugal! - Canadian Personal Finance Blog

Matt Bonner formerly of the Toronto Raptors led (and I think leads) a frugal lifestyle, even though when he was playing he made more in a year than …

Toronto, ON

Bank Exec Takes "Pay Cut"? - Canadian Personal Finance Blog

If I Made $3.8 Million I’d Show Fiscal Restraint Too<p><b>This was from more than 10 years ago, haven’t heard of any more such examples of fiscal restraint.</b><p>…

Bimodal Financial Planning

Tweet The importance of <b>Bimodal Financial Planning</b> strategies cannot be discounted for any person or family wanting to succeed in the current economic …

Financial Planning

How early RRSP withdrawals can help some retirees come out ahead

Registered Retirement Savings Plans are the primary retirement savings tool for Canadians and at this time of year, all the attention is on the …

Retirement (Canada)

How to Ditch TurboTax

As you get ready to file your taxes, you may wonder which software is best for you. There are plenty of options, including new-ish players like …

Lifehacks

Want to retire in comfort? Here's what it costs in every state.

<i>Corrections and Clarifications: A previous version of this story and gallery included an incorrect image for Washington.</i><p>As the baby boomer generation continues to age, millions of Americans are due for retirement.<p>Every day, roughly 10,000 U.S. residents turn 65. However, a record number of people …

Personal Finance

Stress and Money - Canadian Personal Finance Blog

How do You React to Stress and Money ?<p>I just finished possibly one of the more stressful weekends for me, having convened a boys basketball …

Money is Cheap so let's Invest!!! - Canadian Personal Finance Blog

A comment yesterday caused me to wonder when this kind of salesmanship is going to come forward in the world of investing, especially with RRSP …

How to Use the BDO Estate Organizer

Two weeks ago, I posted the BDO estate organizer. In that post I emphasized the importance of writing your financial story and ensuring your …

TFSA Now and Then - Canadian Personal Finance Blog

A few years ago when TFSA‘s were a new and exciting thing, our friend Larry MacDonald did an article featuring me (and my son in the picture). The …

More tales of Chutzpah - Canadian Personal Finance Blog

After yesterday’s tale of <b>Chutzpah</b> I figured I’d show that I can show just as much temerity if I am pushed.<p>Over Christmas a few years ago we purchased …