Some Links For The Weekend

by Mike Holman

I think we are finally seeing some nice weather here in Toronto – spring did come early, but then the cold came which wasn’t a lot of fun. I’m enjoying the hockey playoffs – my Leafs aren’t there but I will be cheering for other Canadian teams such as the Habs (shudder), Sens (shudder) and the Canucks (who I actually like).

Here are some links

Rob Carrick wrote about the rising cost of home insurance and all the lame excuses the insurers come up with.

Ending The Rat Race is thinking that RESPs are not a good deal. I beg to differ.

The Financial Blogger is selling his house and shows some pictures from his home staging efforts. He’s not using an agent to sell so it will be interesting to see how it will turn out.

Canadian Capitalist reviews the book Elements of Investing written by Burt Malkiel (Random Walk down Wall Street) and Charles Ellis (Winning the Loser’s Game).

Million Dollar Journey had a guest post on buying a car at an auction. Some interesting comments.

Mike from the Oblivious Investor (who is obsessed with index investing) has started a new site called IRA reviews.

Do you file your taxes late? The Wisdom Journal says that quite a few people file their taxes late or at the last minute.

Canadian Personal Finance Blog figured out how much water he uses.

MapleMoney gives us 14 fun and free ways to spend a Friday night. I’m assuming this will be a 7 part series?

Amateur Asset Allocator has three definitions of penny stocks.

Want to learn more about RESPs? Buy The Book:


The RESP Book: The Simple Guide to Registered Education Savings Plans

Everything you need to know about RESPs.

See it on Amazon now

{ 9 comments… read them below or add one }

1 Mike Piper

Thank you for including a link to my new project! 🙂

2 Traciatim

An interesting point at Ending the Rat Race. I posted a comment on some of his information and how it’s not really as bad as he was letting on, but my comment is stuck in ‘awaiting moderation’ status, yet a comment posted after mine is shown on the site.

I think that site just lost all credability in my book.

A copy of my comment (with type-o fixed):

Keep in mind the child will only pay tax on the income, not the amount you invested, and since they have so many deductions from attending school its very unlikely that they will pay any tax on the amount (unless your investments do incredibly well).

Also, of course if your child doesnt go to school you have to give back the grant money that was given for the purpose of going to school. How is that a disadvantage? Note that you dont have to give back the earnings on the amount.

There really arent too many arguments against them, for the vast majority of the population the RESP is the way they should be saving for their childrens education if they choose to. Its only in very specific scenarios that different options may be better.

3 Mike

Mike – No problem.

TT – It is common for sites to have first time commenters go into moderation (including this one). Not sure why that would affect credibility.

4 Traciatim

Well, it just seems that the one that agrees completely with the points made in the article goes through fine, and the one that disagrees doesn’t get seen publicly. It’s not like I made any untrue claims, unlike the article that claims that all withdrawals are taxed in the hands of the student.

5 The Rat

@Mike: Thanks for the mention; greatly appreciated.

@Traciatim: A few points:

1. I have already responded to your comment on my site added how your insights have already changed my perspective as it relates to RESPs. I wasn’t trying to ‘create controversy’ on my site, I had misinterpreted the article I was referencing on the student’s income side of things.

2. Your comment was awaiting moderation because when I revamped my site form SquareSpace to WordPress, I had to transfer all my posts, along with the few comments I had with it. When your comment came over with others, I had to copy and paste people’s comments. That’s why my Gravatar shows up on your comment. If there was a ‘typo’, I can assure you it wasn’t deliberate. The only comments I mark as spam or trash are those that are trying to sell products or insert a bunch of links.

3. You actually won the book review I had way back and I did not hear from you to send it to you. You probably didn’t get an e-mail from the comment because of the site transfer.

In all honesty, I felt a bit hurt by your comments because I try to publish new material as much as I can and my readership means everything to my site. Your comment wasn’t awaiting moderation because of the details you submitted; I was away last evening dog-sitting for a family member. To say that I have lost credibility due to these assumptions isn’t fair in my view.

6 The Rat

@Traciatim: BTW – The whole intent of Ending The Rat Race is to exchange ideas and learn one another. Why would I want to prevent a lively discussion on my site?

The thoughts you shared actually changed some of my viewpoints towards RESPs. Just because I’m the main author of my site, it doesn’t mean that I know everything there is to know about personal finance.

I published the thread and titled it to include a question mark because I’m trying to engage with the readership to discuss RESPs and some of alternative methods involved in saving for a child’s education.

I do appreciate your input and hope to see you on my site more often. I just think you jumped the gun a bit.


I am appreciative of your input; I just think you jumped the gun a bit.

7 Traciatim

Sorry, I knew i had commented there before and did wait for a while and found the agreeable comment which posted after mine to be on there and mine still stuck. I just assumes you were censoring the comments; My mistake.

8 The Rat

@Traciatim: It’s all good. No worries.


9 Tom @ Canadian Finance Blog

Thanks for the mention Mike!

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