2013 RRSP Contribution Limits

by Mike Holman

The maximum RRSP contribution limit for the 2012 tax year is $22,970. There are other factors in calculating the limit, so read on! Remember that the RRSP contribution limit applies to the previous tax year. Some rules to calculate your 2012 RRSP contribution limit Your RRSP contribution limit will be 18% of the previous tax […]

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When Does The New Year Of RESP Contributions Start?

by Mike Holman

An RESP question I frequently get at this time of year is along the lines of: “I maxed out my child’s RESP grant last year in [insert month here] – do I have to wait 12 months from that time to get more grants?”. In other words – they want to know when a new […]

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Should I Have An Open House When Selling My House?

by Mike Holman

There was a recent article in the Globe & Mail where a real estate agent was interviewed about her opinion on holding open houses if you are selling a house. To summarize, the agent thought that open houses were a waste of time with only nosy neighbours dropping in to check out your belongings. I […]

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LinkStuff: Online RESP Chat With Globe And Mail Today

by Mike Holman

Announcement – I’ll be doing an online chat on RESPs with the Globe & Mail today at noon to 1pm, so if you have any RESP related questions, please check it out. And unlike most of the questions asked through this blog, I promise not to ignore any of them. Here is the link. On […]

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2012 Investment Portfolio Returns – A Good Year

by Mike Holman

Time to take a look at the 2012 investment returns.  You can usually tell the performance by how early in the year this post appears.  When the market has done well, I can’t wait to calculate the return and see how much more money I have.  In bad years, I tend to delay performance calculation. […]

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LinkStuff – US Election

by Mike Holman

Last week saw Barrack Obama re-elected as president of the US.  I can’t claim to fully understand the US government system, but the fact that the Republicans still hold a fair bit of power means that there will likely be a lot of conflict over the next four years rather than good governance.  It appears […]

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Best Financial Tip – Take a Long Term View Of Your Finances

by Mike Holman

Today’s post is going to be short and sweet.  When making financial decisions, take a look at the long term view first. Most people go through a life path where they start their careers, progress with their careers, buy a house, maybe have kids, pay off all debts, save for retirement and eventually retire. The […]

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How To Save $100,000 For An MBA Or Other Higher Education

by Mike Holman

A reader asked me how he can save $100,000 in order to do his MBA. My first thought was “with great difficulty”.  $100 grand is a lot of cash to save even if you make a high salary. Obviously, to save money you must spend less than you earn and save the difference. Cutting your […]

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