Money Sense

[smell the glove]

Some things aren't that important.

Well, it does look like you're having fun, enjoying yourself in your retirement!



That is all that counts, in the end...

[Anonymous]

Some things aren't that important.

Well, it does look like you're having fun, enjoying yourself in your retirement!



That is all that counts, in the end...

Along with good health which Twenty Dollars also has.

[Twenty Dollars]

Some things aren't that important.

Well, it does look like you're having fun, enjoying yourself in your retirement!



That is all that counts, in the end...

Along with good health which Twenty Dollars also has.

Thank you Fash. You're very sweet.

[Anonymous]

Some things aren't that important.

Well, it does look like you're having fun, enjoying yourself in your retirement!



That is all that counts, in the end...

You really could not ask for a better retirement than what TD enjoys. My job is to help people prepare for their own retirement dreams.

[Twenty Dollars]

Some things aren't that important.

Well, it does look like you're having fun, enjoying yourself in your retirement!



That is all that counts, in the end...

You really could not ask for a better retirement than what TD enjoys. My job is to help people prepare for their own retirement dreams.

Thank you Bro. Bet you do a good job.

[Anonymous]

Some things aren't that important.

Well, it does look like you're having fun, enjoying yourself in your retirement!



That is all that counts, in the end...

Along with good health which Twenty Dollars also has.

Everything else is distant second to good health.

[Anonymous]

Some things aren't that important.

Well, it does look like you're having fun, enjoying yourself in your retirement!



That is all that counts, in the end...

Along with good health which Twenty Dollars also has.

Everything else is distant second to good health.

No argument. But, you still need to plan prudently.

[Anonymous]

The North American benchmark oil price closed above $50 for the first time since last July, pushing the Canadian dollar higher along with it.



Oil gained 59 cents to trade back above $50 a barrel at $50.48 US on New York Mercantile Exchange



Much of oil's gain was tied to weakness in the U.S. dollar, which has been selling off since a weak jobs report on Friday. That has investors thinking the U.S. is in no rush to raise interest rates.



The loonie is also a beneficiary of the weakness in the U.S. dollar, and it gained a quarter of cent to 78.38 cents US on Tuesday. That's the highest level for Canada's currency in two weeks.



Speculators have placed more bets on the Canadian dollar in recent weeks, Commodity Futures Trading Commission data showed on Friday.



Net long Canadian dollar positions rose to 26,259 contracts in the week ended May 31 from 20,047 in the prior week.



The TSX was also in the green, up 89 points to close at 14,365.

[Gallium]

But, you still need to plan prudently.

Ha! You mean gamble (as in the right investment)!  

[Anonymous]

But, you still need to plan prudently.

Ha! You mean gamble (as in the right investment)!  

Investing is knowledge. Gambling is odds.

[Gallium]

But, you still need to plan prudently.

Ha! You mean gamble (as in the right investment)!  

Investing is knowledge. Gambling is odds.

For sure...until your broker gives you a bum-steer. The initial stocks in copper made me a quick $4K...so I decided to buy back and then some. Loss about $10K! Rookie error...  

[smell the glove]

If one decides to self-direct their investments, as I do, there is only one person that can give you either good or bad advice.  That person is the same one that you see in the mirror...



My advice for the self-directed investor?  



Don't listen to anyone...  If you wanted advice and management, you could have paid for it.



Diversify...  Trust me.  Hold shares in diverse investment areas...



Unless you're a day trader (I'm not, and will never be), don't sweat the downturns too much...  They will eventually recover.  Not saying to completely ignore your investments, but sometimes a Popeil "set it and forget it" attitude is best for long-term.  Frequent buying and selling, trying to time the markets, etc., have left as many people broke, as it has getting people rich.



Oh, and set that shit up to DRIP.  It's the only way for long-term reinvestment...

[Anonymous]

Finance Minister Bill Morneau announced incremental changes to CPP. Here's how it affects you.



http://www.msn.com/en-ca/money/topstories/what-cpp-expansion-means-to-you-mayers/ar-AAhoBY4?li=AAggFp5&ocid=mailsignout">http://www.msn.com/en-ca/money/topstori ... ailsignout">http://www.msn.com/en-ca/money/topstories/what-cpp-expansion-means-to-you-mayers/ar-AAhoBY4?li=AAggFp5&ocid=mailsignout

After a decade of trying, Canada's finance ministers reached an historic consensus Monday to expand the Canada Pension Plan.



The agreement, signed by federal finance minister Bill Morneau and eight of his provincial counterparts, provides for the first substantive change to our national retirement scheme since its creation by Lester B. Pearson in 1965. It also means that Ontario's go-it-alone scheme, which pushed pension reform onto the national stage, is dead.



Instead, by 2019, all working Canadians will be paying into an expanded CPP in return for a bigger future benefit.



The deal recognizes that the time has finally come to do something about retirement security.



Everyone will pay more.



Everyone will get more.



t will be another 2½ years before any changes take place. Many details are still to be worked out.



But here are answers to basic questions about the deal:



What did the ministers agree to do?



They agreed to a gradual expansion of the Canada Pension Plan. Premiums will rise in steps over seven years, starting in 2019. 'Gradually' is the key word. Canadians will gradually pay more and gradually get more.



Currently, employers and employees each contribute 4.95 per cent of income between salaries of $3,500 and $54,900.



The agreement increases the upper income limit by 50 per cent to $82,700 by 2025.



Another key change is that the current CPP is meant to replace 25 per cent of earnings up to the $54,900-ceiling. The new plan will replace one third of income up to the higher ceiling.



How much are pensions going up?



The maximum CPP pension in 2016 for someone retiring at age 65 is $13,110. That is based on maximum earnings for CPP purposes of $54,900.



The Department of Finance says that under the new scheme, at maturity, a Canadian earning slightly less — $50,000 in constant earnings throughout a working life — would receive a yearly pension of $16,000.



That compares with the current maximum of $12,000 at that income level.



Bear in mind that "at maturity" is a euphemism for about 40 years of work. And few people get the maximum. The average CPP pension is about 60 per cent of the maximum amount.



Will the changes affect RRSP room?



No, according to Sousa. And in order to avoid increasing the after-tax cost of the added premiums, Ottawa will provide a tax deduction for the additional contributions rather than a tax credit.



Will it be compulsory?



Yes.



Who pays what?



Employees and employers will continue to pay equally at the 4.95-per-cent rate. The self-employed continue to pay both portions.



When will I start paying more?



On Jan. 1, 2019. An employee earning $55,000 a year in 2019 will see an increase in monthly premiums of $7 a month, Canadian Press reported. At that income level, the premium rises by another $7 a month in each of the next five years.



This earner will pay $420 more annually by then.



For those earning above that, there is another two years of phase-in.



How much more will I get?



Circumstances are different. It depends on how long you work and how much you make.

[smell the glove]

Bolstering up the CPP is a hotly debated issue, but I personally agree with this move.



I'll give you an example of an argument I had with one of my buddies a few days ago...  Even though he's an employee, without any type of work pension, he seems awfully "right-wing" in the fact that he has a problem with a slight increase in deductions, just as employers do.  He thinks people should be free to invest their money how they want, and not have the government do this for him.  



I ask him what retirement investments he has?  A puzzled look comes upon his face.  He says "fuck the old people."  I say, you will soon be old also.  What are your investments?



The problem is, that I had to explain to him, is that he has no investments, and no work pension.  When he has to retire, who will have to cover his poverty ass when he needs subsidies?  The taxpayers...  That's right!  TAX PAYERS will have to cover him.  And he hates taxes.



The problem with people, is that most are idiots.  These people can also vote.  These people also breed.



Yes, if everyone had solid investments or a defined-benefit workplace pension, we wouldn't so much need to worry about changing the CPP.  The fact is, the majority of workers today has neither of these, which is contrary to what employees historically had.



And the employers arguments?  Fuck 'em.  They'll claim a $0.05 increase in the minimum wage will bankrupt them.  They spill the same spiel every single time anything like this is discussed.  It has NEVER amounted to any business closing that wasn't already about to fail.

[Anonymous]

More money deducted from my pay.