Fast-forward to 2025: RSS is basically a fossil. Online government services mostly work, shockingly enough. I’ve learned something important. Most “investing advice” is just confidence wrapped in a nice font.

Since I have started with the new site, a few new folks have asked me questions. They wanted to know where I should invest my money. Let me be very clear: I have no bloody idea, and I should be one of the last people you ask about investing. I have links to some very smart people’s websites, whom I use as research for investing, but I can say that I am the Luis Pujols of investing. I will on occasion voice an opinion on investing (like at the end of this post), but please do not invest your hard earned money on the basis solely of what I say (you will be very disappointed).

Online Government

My beautiful wife pointed out over the Christmas Holidays that I can renew my car registration online with the Ontario Government. They will mail me my renewal sticker. I tried this Ontario Government online service, and I am here to give it a thumbs-up. The process worked fine with no worries. The system operated smoothly. My only complaint is that since I have two cars, it involves two separate transactions. It would have been nice to do both in the same shopping cart.

Personal Finance for me

Days without spending at work: 3
Amount spent this week at work: $0.00

Apologies to RSS Readers

Sorry folks, I am still learning how to do this outside of the world of Blogger, and had my RSS feed set up incorrectly. You should not get a full feed if you subscribe to my site. I did not intend to change how this all worked. I offer my humblest apologies to you, my valued reader. Explanation of what I did to bugger up my RSS over here.

The Honest Truth About My Investing Skills (Redux)

Let me be clear (again, because repetition helps when money is involved):
I am not an investing expert. If I were, would I be sharing with folks? I am not that good a person.

At best, I am a grizzled veteran of bad assumptions and mediocre timing. I’ve read a lot. I’ve tried a lot. I have made enough mistakes to qualify as “experienced.” This is not the same thing as “smart.” I know smart people, and I try to hang out with them, for as long as their patience allows.

If you’re looking for:

• Hot stock tips (International Buggy Whips might make a comeback, Excellent!)
• Crypto moonshots (do those happen still?)
• “This one trick beats the market” (who is really beating whom here?!?!)

You are in the wrong place.

If you want:

• Common sense
• Lessons learned the hard way
• A reminder not to do anything stupid with your life savings

Keep coming back for my home-spun rhetoric.

Overconfidence: The Real Financial Killer

The best investing quote I ever saw came from a snarky calendar:

“Before you attempt to beat the odds, be sure you could survive the odds beating you.”

Some snarky calendar

I like that a lot. People used to talk about the Stock Market that way, but that kind of stoic perspective seems to have evaporated.

Most people don’t lose money because they’re unlucky. They lose money because they think they’re smarter than everyone else.

Classic symptoms:

• “This time is different!!”
• “I’ve done my research!” (translation: read 3 Reddit posts)
• “It can’t go down much more!” (oh yes it can)

Overconfidence is how people:

• Will absolutely do it again in the next cycle
• Rode Nortel into the ground
• Got wiped out in 2008
• Bought meme stocks at the top, or NonFungible Tokens! (remember those!)

Final Thoughts (Redux)

If anything has changed since the original version of this post, it’s that investing has become too accessible. Apps, zero-commission trading, and social media have made it easier than ever to act quickly and regret it immediately. The fundamentals haven’t changed, but the speed at which you can make a mistake definitely has. High-speed destruction of wealth is far too easy these days.

Don’t get me started on the whole Betting Industry either.

The post Why I’m Still Not Your Investment Guru (but that’s OK) appeared first on Canadian Personal Finance Blog.
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In this world, many well-meaning folks love to feel helpful and thus enjoy handing out advice, even in situations where they really have no bloody idea what they are talking about. I started receiving that kind of advice from day 1 of my life, but I noticed it more the day after my first child was born. How can people without kids hand out advice? An excellent question. I realize you can know a lot about raising kids if you were the oldest sibling in a large family, but maybe wait until you are asked to give that advice out?

Since our son was diagnosed on the Autism spectrum, my wife and I have received a myriad of advice from professionals and friends. Some of the advice was useful and good, and some was just bad or harmful.

Some examples of good advice:

• A friend told us to go look into an RDSP as it might be a good idea for long-term planning, and I have tried to help other folks understand this important tool for your child’s future as well (see the RDSP menu tab at the top of this page).
• An amazing speech pathologist who told us that she didn’t think this was a speech issue, but handed my wife a great book, “The Out of Sync Child”, (you can find it on Amazon here The Out-of-Sync Child (amazon link)), and that described our son (at the time) and gave us hope.
• A wonderful friend recommended a local Co-op Nursery for our son.  They provided a philosophy and an environment where our son could succeed.

Examples of bad advice?

• A condescending neurologist dismissed any of my wife’s concerns about our son’s development. He even went as far as to say, “Oh you are one of THOSE parents.” This occurred after she admitted she had read some books. She had also done some research. He then realized he hadn’t been listening to us for the past twenty minutes. He claimed he had been “observing” our son. OK fine, and then he completely misdiagnosed him.
• The folks who said, “All he needs is more structure”. “All he needs is less structure”. “He just needs some discipline,” etc. Let me be crystal clear. When you say this or do this to any parent, they might as well hear, “You are a lousy parent”. They might also hear, “You are ruining your child”. This is because that is what they perceive.
• Yelling, demeaning or embarrassing a parent because their child is not behaving to YOUR standard, and may in fact be doing the absolute best that they can at that moment.  (This happened to Momma C8j with little C8j in tow at a local grocery store)

Many parents want empathetic listening when they have kids with disabilities. These disabilities can be visible or invisible. Empathetic listening means you listen without trying to solve the problem. You simply let them talk. Interject concern or elation in the right spots. A lot of the time, these folks need to let it out to a friend. They may already know the answers. They just want to let some of their feelings out. If you watched my “It’s not the nail” video in my best-of post, you have seen a good example. It shows someone who wants empathetic listening.

Is There One Piece of Advice That Fits All?

With kids on the Autism Spectrum, the diagnosis is broad. Therefore, there are not many “one size fits all” solutions to the child’s problems. Bombarding your friends with the latest story about stem cells might not be what they need. They may need additional support from a friend. Sharing how chelation might be the answer may not be helpful either.

Maybe what they need is a sympathetic ear? If folks want advice, they will ask; when that happens, give them your best advice. But until then…

Redux From a Grandfather

I now have a son on the spectrum, and a grandson as well. This is not something that gets easier over time; it simply morphs into new challenges. Watching my grandson, I wonder how his parents will deal with all of this. All we can do is help support them as best we can. I continue to learn that sometimes advice is best kept to yourself.

Final Thought

The worst advice is usually the most confident.

The post Autism Parenting Advice: What Helps, What Hurts, and When to Stay Quiet appeared first on Canadian Personal Finance Blog.
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What is Fig Tuesday? It’s a Holy Week thing where Christ kills a fig tree (bad synopsis; read here for a more detailed concept). Not a big Fig fan, myself, although I do enjoy a good Fig Newton.

March ends (March 31, 2026, today), and the fiscal year for many folks is today as well.

Auto Fignations

Took my 2024 Rogue in for its semi-annual service yesterday. I wanted the snow tires swapped, which was a bit early here in Ottawa, but I rolled the dice. What I ended up with was:

• My all-season tires seem worn out. I have had the car for less than two years. Total mileage is 42,000 KM, and I have winter tires. Let's say there are about 26,000 KM on these tires, and they are done? I am a very conservative driver. Why are these tires done? Are they made of bubble gum or pencil erasers? They wanted to sell me tires, I said, no, I'll look around (aka Costco).
• The Battery (12V) need replacing? WTF? A battery that only lasts 23+ Months? Must be one of those Azerbajan specials (got that comment from a CAA Tow chap who had to jump a previous car). Luckily, it was replaced under my warranty.
• The car still gets a gas smell sometimes, too.

I am not saying this car seems to be another Lemon, but I do feel I am getting my daily dose of Vitamin C while driving it. Like many Canadians, think I'll be looking into an EV in my near future. Possibly a set of Solar Panels too!

Tax Time

'Nuff said there. You've got a while still, but you had better have all your receipts lined up. Took a while to collate my medical expenses, and my wife seems to have given up on collating her Celiac Food receipts (Gluten-Free Food).

CPP at 65 for Me?

Nope, going to hold on to taking that for a while. I need to figure out my financial baseline, but I don't think I will take it until I am closer to 70. I may change my mind, or die before collecting it. I have never collected EI in my entire 40 years of working. Remember, I was laid off for an entire year in there somewhere.

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I did start on St. Patty’s day. Wasn’t an actual choice, just happened that way.

I met a lot of “A Lister” financial folks, and slightly inspired someone to start their own financial site. I think Michael started it because he read my stuff and figured someone should write about real things, and not just silly rants (that I was doing a lot). Most of my “A-List” acquaintances still speak to me on occasion, which I view as a lovely side effect of these writings.

In my early days, I wrote about whatever came to mind that day. I wrote pretty much every weekday. Don’t believe me, have a look through the archives of my 4th year, 2008. A year that saw me get laid off from Nortel, and the entire economy collapsed. A few of the posts are a bit raw; I have tried to clean them up a little.

I write a great deal less now, and only about things that matter to me. Those things are:

• Family and Finances, which should be for you as well.
• Disabilities, and the RDSP, which I am a talented user of (for lack of a better term). I wouldn’t call myself an expert, more of a grizzled veteran. My focus had been for my son, but now I am also looking at myself and my wife as well. More to be learned, I suppose.
• I suspect I will write more about getting old, being old, retirement and pension, which may have me appear to be more like Grandpa Simpson

I thank you for stopping by when you do. This ended up being mostly an open letter to my family and me about money. If I have helped folks, that is great.

What comes next?

I am about to retire from my real job. You know the one that lets me claim I am a 6-figure financial influencer. I have maxed out my pension, and I have frayed as many nerves as I could safely do, so it is time to march out the front door (before they throw me out).

What will I do now I have all this spare time? Sleep. For the past few years, I have had to rise at 5:20 AM to get across Ottawa in a timely fashion. I plan on breaking that habit as quickly as possible.

I need to work on my health a great deal. Remembering Sea Sick Steve's thoughts in "What a Way to Go", getting the Gold Watch and dropping dead the next day is not my goal. My knee is recovering, but there is still plenty to do.

I could easily spend 6 months cleaning up this site and fixing all the broken bits. That may happen, but my plans are quite loose right now.

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Given that my son is now over the age of 18 19, how his RDSP grants and bonds are calculated changed. Now they are calculated based on his current income (not on my income). He is still a student (and I am glad we set up an RESP for him), so his income is nearly zero. As shown in his Grant Statement for this year, the numbers are higher.

Due to his diminished income, he also received a Bond this year. All this money will be taxed in his hands when he finally starts drawing from the account. The growth in the account is also subject to tax. I will set up an automatic deposit for this year; it will add up to about $1550, which is the maximum the government will match. You can contribute any amount of money to your plan at any time of the year as long as you do not exceed the lifetime maximum of $200,000. For each eligible contribution you make, you will receive the matching grant in your plan.

Always remember the RDSP is a very long-term savings plan.

My son will most likely not qualify for the ODSP, but that is not as important for now.

The income shift at 19 is a big deal. Many families see a dramatic increase in grant eligibility once the beneficiary’s income is assessed independently. If that income is low, as it often is for students and people with disabilities, the matching can increase significantly.

The RDSP is not flashy. It doesn’t trend on social media. But it may be one of the most generous government-supported savings vehicles available in Canada. The combination of grants and bonds can dramatically amplify modest contributions over time.

Related RDSP Pages

• The RDSP Page is the Overview of all articles I have written about the RDSP (including DTC and other areas).
  • RDSP : Laying the Ground Work (first things first)
    What needs to be done BEFORE you can apply for a Registered Disability Savings Plan? A major aspect of this is the Disability Tax Credit (DTC). Make sure you click on this page to get started.
  • RDSP : Working with The Account
    Now that you have succeeded in getting your Disability Tax Credit (DTC) you need to open an RDSP account with a bank, but how is that done? It is not as easy as you might think. This page outlines many issues that have arisen for my family working with an RDSP account.
  • Disability Tax Credit Related Topics
    Thanks to my RDSP and DTC work I then had to learn a great deal about the tax implications of having a disabled child.
  • Autism Specific Articles
    Being the proud Father of a child on the Autism Spectrum, I also ended up writing a great deal about Autism specific things as well.

DTC & RDSP FAQ

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A solemn commiseration to all my readers who have birthdays in December and January. No! A single gift for Christmas and my birthday is NOT okay.

Estimated reading time: 4 minutes

Happy Freaking Financial Birthday

A list of some things to think about on your birthday. With a tip of the hat for those turning 65!

1. Is your Will and Power of Attorney in place and up to date? If you are my age, you’d better have that done. If you did it a while ago, it might be time to review. Who controls your future medical decisions? Is it your son whom you called a lazy pillock? Might want to change that (or apologize).
2. It is time to make a Doctor’s appointment if you are over 30. Don’t wait until you think you need little blue pills to see your Doctor. The most important thing for your retirement is to be alive for it. You may need to look for a Family Doctor first. If you haven’t seen a Doctor and you are my age, this could be problematic. Do not end up a victim of VOMIT (i.e. Victim of Medical Imaging Technology). If you look at someone my age, you are bound to find SOMETHING!
3. Insurance: this topic has a bunch of exciting sub-topics:
   • Life insurance, is your premium due for the year? If you turn 55, your Term Life Insurance rates will change. You can get them back to a lower rate by undergoing a medical checkup, provided you pass it. Do you still need insurance? Why do you have insurance?
   • Does car insurance need to be renewed, or is it time to shop around to get a cheaper policy?
   • Disability insurance? If you are retired, you don’t need that anymore.
4. Did you get your car registration renewed? It might be free in Ontario, but you still need to go through the renewal process. Has your actual driver’s license expired? How about your OHIP card? Many things expire on your actual birthday.
5. Have you checked the batteries on your smoke or Carbon Monoxide detector? Carbon Monoxide detector on every level of the house?
6. You could always restart your New Year’s Resolutions. You most likely abandoned them by your birthday. It’s a lot harder for me since my birthday is in January.
7. How about your deadbeat friends who come over and drink your beer? Get them to buy you a drink (or 12)!
8. Guilt, have you called your kids the day after your birthday? Did you remind them that it would have been nice to get a call saying Happy Birthday? Guilty kids are less likely to bother you about getting more money from you.
9. A life plan or a raison d’être for your life? It’s a deep subject, but your birthday would be an excellent time to consider. If you have a plan, does it make any sense any more? Having climbing Everest on your list after age 65 is a bit, um, optimistic?
10. Assuming all of your documentation is in order, without checking is a dangerous game to play.

Just a few simple ideas for those with a birthday coming up.

Birthdays are a dychotomy. They arrive quietly, usually with cake, and then sit there judging you. They’re one of the few socially acceptable moments to pause. You can ask uncomfortable questions about health and money. It’s also a time to consider whether the plan you thought you had still makes sense.

What changes as you age isn’t just your balance sheet it is your tolerance for uncertainty. Things you ignored in your 40s start feeling louder in your 50s and unavoidable by your 60s. Paperwork becomes important. Doctors become necessary. Expiry dates become personal.

A birthday isn’t about celebration alone. It’s also a checkpoint. And like all good places for inner reflection, it’s mildly irritating but can be useful.

The biggest regret you end up with isn’t investment returns, it is procrastination. Birthdays are one of the few moments people naturally pause. Using them as a planning checkpoint isn’t morbid; it’s efficient.

More Birthday Ideas

• Ensuring Your Financial Security This Birthday and Beyond Raise a slice to yourself. Get all the info you need on selecting the best birthday cake and can you afford the life insurance premiums?
• Financial Things to Do On Your Birthday gives you a similar list.
• Birthday things to remember has some different ideas for you.
• Random Thoughts: Happy Birthday to Me!
• On Turning 50 outlines some of the angst of getting older
• Now I'm Fifty Five and getting older
• Financial Things to do on your birthday?

The post Birthday Reflections: Embracing Aging Gracefully appeared first on Canadian Personal Finance Blog.
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Christmas Financial Hangovers

It must be that the News Services really have nothing much to talk about in January. There seems to be a plethora of fluff out there. The new thing for January is Blue Monday.

To any Montrealer, Blue Monday means a particular game where the Expos lost the 5th (and final) game of the 1981 National League Championship Series, to a home run by Rick Monday (who played for the Dodgers). To others, it is a great Fats Domino tune or even a song by New Order. None of these is what the media is talking about.

Blue Monday Equation

As with all good Media Fluff (misinformation?), this Blue Monday started as a public relations campaign by Sky Travel. Sky Travel published a study done by Cliff Arnall where the following equation gives you the most depressing day of the year:

Let us not worry ourselves with this complex piece of pseudo-mathematics. Click on the equation to see the full explanation. The Most Depressing Day of the Year is on the Monday of the last full week in January. This year, that day is allegedly today. I would have assumed that if you booked a holiday through Sky Travel, you might beat blue Monday as well, but I guess that is me being a cynic.

I like this equation because it builds in an important Financial Portion, which is the lower case d in the equation, namely DEBT, and we all know how Christmas Debt Hangovers can ruin our January, if not our entire year.

Usually, you have received most of your Credit Card bills by this date. You now realize you may have overspent, and that the extra money you thought you had is now needed to pay off your debt. Worse, you will have to put together a debt-repayment schedule to address this new debt load.

Do you have a large Christmas Debt Hangover?

So beware of Blue Monday, don't let it catch you unawares. If anybody sees Rick Monday (the baseball player), tell him I still hold a grudge against him!

Blue Monday Redux

Blue Monday works as a concept because it piggybacks on existing trends. January is cold, dark, and socially miserable in much of the Northern Hemisphere. Add credit card bills, post-holiday spending regret, and short days, and you don’t need an equation to feel lousy.

The media version of Blue Monday wants you to book a vacation. The real financial version wants you to open your statements, wince, and start fixing the damage. That’s far less glamorous and far more useful.

The good news? January pain is temporary. The damage from ignoring it isn’t.

Blue Monday Quotes

Blue Monday math is about as rigorous as horoscope investing

I like that one.

Expos fans will never forget Rick Monday or Blue Monday

Very true.

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Would you rather have a good night’s sleep or be financially sound? Remember, losing sleep can kill you.

That is a trick question because, in my case, if I were financially sound, I would sleep better. My sleep patterns are not ideal, I am a classic worrier (I believe it is genetic). I have had many sleepless nights. At the end of it, it has been directly or indirectly due to money (and the lack thereof).

If I was single, I might not worry about money as much, and maybe losing sleep less. However, having a family and dependents makes money issues magnify in significance 10 fold (at least). It’s funny that money can play that big a role in someone’s life. In my case, it most certainly does (when I was a teenager, I never thought I’d get a girl and if you’d told me I was going to be making what I am, I’d have said, “Bring it on!”. engaging how the table has turned).

Given the effect worrying has on most folks health (for those that don't worry (and I don't believe you don't worry) you'll have to imagine this), makes me start wondering about whether insurance companies are going to start asking financial health questions when you apply for health insurance or life insurance? This may sound far-fetched but is it really?

Medical studies are showing that worry and stress shorten people's lives and can cause significant health issues. Why wouldn't insurance companies consider that? In the 1960s, whether you smoked was not a question on your life insurance application, but it most certainly is now. Obesity and weight may not have been an issue before, but it most definitely is part of applications for life insurance. So why is stressful money such a stretch?

A few ideas that could cause insurance companies to put up a red flag on someone applying for insurance might be:

• Over a certain age (say 35) and still owing more than 1/2 of your mortgage principle.
• No retirement savings in place (and no pension either)
• At Credit Card maximum rates
• Applied for a Credit Limit increase and was refused

The list could be quite long. Your financial lifestyle may directly and indirectly affect your health.

Some helpful Quips about financial stress and sleep

• “I’m financially sound but still anxious”, welcome to adulthood!
• 3 a.m. financial math is always wrong and always terrifying
• Red flag: chronic sleep loss blamed solely on “being busy.”
• Red flag: pretending stress doesn’t affect health
• Canadian reality: RESPs, RDSPs, and mortgages are great… but they don’t tuck you in at night

Isn't that helpful? Not really, if anything, it's a bit of "Richard play".

Lack of Sleep Redux

Money stress doesn’t clock out at 10 p.m, although I wish it did! It waits until the house is quiet, the lights are off, and your brain decides now is the perfect time to replay every financial decision you’ve ever made. That’s when numbers stop being abstract and start feeling personal. Remember Zero Mostel and his fears?

What makes financial stress particularly brutal is that it often persists even after you’ve “done the right things.” You can have a job, a pension, savings, and still lie awake worrying about tuition, mortgages, aging parents, or the next unexpected expense.

The uncomfortable truth is that money anxiety is less about current balance sheets and more about perceived risk. Sleep suffers not because you’re irresponsible, but because you care.

Some Links to Help?

• https://www.getsmarteraboutmoney.ca
• https://www.canada.ca/en/financial-consumer-agency.html
• Are Canadian adults getting enough sleep? 

The post Financial Stress and Sleep: Why Money Worries Keep Us Awake appeared first on Canadian Personal Finance Blog.
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The original of this was written in the late 2000’s. This advice predates app-based budgeting, buy-now-pay-later traps, and click-driven and FOMO spending. Despite those changes, the principle remains timeless: vague intentions don’t change financial outcomes. Measurable actions do.

Normal Resolutions

Here is a good example of some noble resolutions

• I will save more this year
• Pay down my mortgage
• Lose weight
• Take less advice from Social Media Influencers

I applaud you for these goals. However, how will you know whether you have succeeded? Without a tangible financial goal, you are doomed to failure.

Tangible Resolutions

More tangible versions of the same goals might be:

• The balance in my TFSA on Dec 31 this year will be 10% larger than on January 1 this year. This is very specific. You can even put actual values in there. Doing so makes it easier for you to monitor your goal.
  • Remember, if you are saving for your kids’ education, it is good to set an RESP goal. Aim to add $2500 to the account.
  • RDSP contributions for your child need to be there as well.
• My mortgage principal will be $10,000 lower at the end of this year. The important thing is to set a tangible financial goal. How you do it is left open, but the goal is concrete.
  • You can automate this goal, and make it easier. Setting up automatic over-payments on your online banking of $400 per pay (if paid bi-weekly) makes this resolution real.
• I will lose 60 pounds this year by going to the gym at least 150 times. Ideally, I will try to lose 5 pounds a month. Again, this is very concrete and easily monitored.
  • In my case I am lucky as my office has a gym I can use for free. Still doesn’t work on the motivation aspect of it.
• Stop watching TikTok or Instagram to get your core financial advice. You cannot trust someone who is paid by a bank or credit card company. Their job is to keep you in your current financial miasma. Read books. Taking advice from a 22-year-old who is still financially wet behind the ears is not good. Find out what works for you!

Resolutions are excellent things (although you can set goals any day of the year), but they must be specific. Saying, "I will be a better person" is an admirable sentiment, but what does it mean, and how are you going to do this?

• Give more to charities?
• Being more positive in your life outlook? (again really hard to monitor this, unless you tell someone who can say, "You really are being a sour puss these days").

Make your goals and resolutions tangible and measurable and you are more likely to succeed. Also, remember to put your resolutions somewhere where you can be reminded about them.

1. Set the background of your computer or tablet with them.
2. Put them on your refrigerator?
3. Tell your spouse. They will remind you.

Tangible goals shift your brain from hoping to doing. Saying “I’ll save more” feels good but has no teeth. Saying “I’ll add $200 per paycheque to my TFSA” creates accountability even if it hurts a lot.

Financial goals also benefit from visibility. Numbers written down, tracked monthly, or reviewed quarterly are harder to ignore. The act of measuring your progress keeps motivation alive long after January fantasies fade.

Finally, tangible goals allow for course correction. If life throws a curveball, you can adjust amounts without abandoning the goal entirely. That flexibility is what makes long-term success possible.

How to Make it Work?

• Goal-gradient effect: progress motivates continuation, wow, that is a mouthful.
• Commitment bias: written goals stick better, but don't stay married to them; if it is obvious, it isn't working.
• Automation bias: systems can beat willpower, most of the time.
• Present bias: measurable goals can reduce procrastination, but you know you as well.

Accountability effect is an essential factor. This one calls for stoicism or good old-fashioned stick-to-itiveness.

All Those Happy New Years

Yes, for many years I have wished you a Happy New Year

• Happy New Year 2025 May this New Year find you safe and happy. 2024 was a year to remember for its turmoil, but find a way to make 2025 a better one. It’s time to get back to the gym and plan on staying out of debt. Enjoy the coming year! #Debt #NewYear #Resolution
• Happy New Year 2024! What will the year 2024 bring? Let's hope it is a Happy New Year, but there is potential for a great deal of upheaval in the coming year. #NewYear #Happy2024
• Happy New Year 2022 and #MoneyTalk recapped a lot of 2021 and hoped that 2022 was going to bring some hope.
• A happy new year for 2021 ? Well it started pretty grotty, but it might get better.
• I must have had an inkling about 2020, as I didn't wish you a Happy New Year to start things. Hopefully with this post I have helped make the year better?
• In 2019 I was too practical with Tangible Financial New Years Resolutions but still worthwhile thinking about it, eh?
• For Happy New Year 2018 I had a great photo of being stuck on the 401 during a snowstorm, and links to previous New Year Messages.
• 2017 I pointed out that you start paying CPP and EI again, so your net pay is going to be lower.
• 2016 Happy New Year, just didn't happen, not sure why, must have been having a grinchy holiday?
• 2015 Happy New Year and I included a really bad joke about it being the year of the RAM in the Chinese Calendar.
• 2014 Happy New Year again I pointed out that CPP and EI rates were increasing as well, I really am a kill joy.
• 2013 was a Happy New Year, a celebratory Sunday was the photo to start the year.
• 2012 I used to post best of Twitter posts, and it seems to have fallen on a Sunday as well.
• Merry New Year! It All Starts again  was how 2011 started, and I included a bunch of resolutions in that article.
• 2010 New Year began with me in a new job, which was very nice, given I had been unemployed for a while.
• 2009 started a little bleak, in that I was unemployed, and was looking for a job, during a major economic crisis.
• Belated Happy and Prosperous New Year was how 2008 started, the economy was booming, employment was high, but there were hints of the systemic failure that was coming soon.
• Good Bye 2008, outlined the eventful year that it was for me. Things got better, but a lot didn't go right that year.
• A New Year Brings Tax Breaks? The tax breaks appeared in 2007 but later disappeared, unfortunately.
• Happy 2007 a quieter year, we hoped.
• 2006 I was still figuring out what this whole thing would be, but I showed signs of a ranting good time.

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Christmas Wishes from the Past

I seem to do this a lot, so here are my Christmas wishes from years gone by:

• Merry Christmas 2025 – Celebrate the spirit of Merry Christmas 2025 with joy, family, and hope for peace in the world this holiday season #Christmas #YellowCard #Spending
• Joyeux noël 2023 Enjoy your Family, Friends and Festivities. If you are working today, thank you. If you are alone, it will get better.
• Christmas 2022 was after a rough year for many folks including me. Inflation, COVID, and dealing with losing family members was a bit much really.
• Merry Christmas 2021 was another COVID crisis time. Omicron hit and Christmas became much more closed up. Maybe the last one of these, but we thought that last year.
• Merry Christmas 2020 ! Do you see the pussy cat in the tree? An odd year with a Pandemic and all. Make sure you pop those Christmas Crackers.
• Christmas All Year Round ? Yes, it does feel like that these days doesn’t it? The 12 Days of Christmas Debt ? What the heck ? That isn’t Christmasy at all!
• Merry Christmas 2017 ! That was a year of fun videos that I found to help celebrate the holiday. Love that old CFCF fill.
• Merry Christmas, Highspeed Internet a right, Inflation at 1.2 and #MoneyTalk 2016 ! Sheesh, I couldn’t even be bothered to send a message that year, how Grinchy.
• Merry Christmas 2014 ! A lovely quote from the King James bible for that year. Seem to have done nothing for 2015. This year I even had a Christmas Eve post.
• Happy Christmas 2013 ! I loved the photos of every years Christmas Tree, very festive. Another Christmas Eve post too.
• Merry Christmas 2012 ! You see the hideous curtains we had in the den back then. That year we had the $150 Christmas challenge too.
• Merry Christmas 2011 ! The tree moved back to the front room and I used Google Translate to create a festive message. Think I was on French training that year. Also At Christmas Why Not Just Give Cash ?
• Merry Christmas 2010 has some very deep philosophical commentary in it. Must have been hitting the Christmas cheer early. Christmas Eve that year must have been a Friday.
• Merry Christmas 2009 and all you got was an NFB short? Not that bad really. There was also Christmas Eve thoughts too.
• Merry Christmas 2008 ! That was the year of the infamous Financial Advent Calendar too.
• A few last Yuletide Thoughts was what I had in 2007.
• Merry Christmas 2006 ! A quieter year I suppose.
• Whatever little money you have, make sure you spend it was my first year writing here. Quite gruff and grinchy.
• Advent, it begins again, is when the Christmas season begins

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Estimated reading time: 4 minutes

My original airing of grievances was written in 2016, who am I to argue with tradition, so here are more. I first wrote about Festivus back in 2010. I have added a few more things to complain about. Let me tell you there is a lot to complain about in 2025!!

Why Financial Festivus? At some point this year, as I rained blows upon a banking rep, I realized there had to be another way. My financial planning was ruined, and I decided we needed a new financial way … a Financial Festivus for the rest of us! (apologies to Frank Costanza for the terrible paraphrase).

Festivus and the Financial Airing of Grievances

We have put up the Aluminum Pole, ok, it is a coat rack. It has no distracting tinsel. Now it is that time in Festivus for the Financial Airing of Grievances. There have been a lot of things that got on my nerves in 2025. So listen closely.

• Volatility? The stock market has been up and down, and even sideways a few times! Who ordered this crap? The only thing going UP is prices!
• They must have hired the Weathermen for financial forecasting. Nobody gets it right in 2025, and if they say they did, as usual, they are lying. And lying, I might add, has had a banner year in 2025.
• 2025 seems to be my year of the retread . Old articles rewritten, allegedly so that they are topical again? What’s wrong with new? Do better BCM!
• People I love keep dying! This really upsets me. When I was younger, I was told we’d soon live forever; they lied! Also, make sure your estate and Wills are in place! This sucks! They also seemed to imply I should worry about quicksand? Haven’t seen that yet either!
• We elected a Liberal (minority) government in Canada, and they are acting like Conservatives? That’s pretty standard. In Ontario, we have a Conservative government that couldn’t get a hot trade deal with a $20 bill… I lost my train of thought.
• Tariffs? Mr. Trump? He has done some great things this year:
  • Caused trade barriers between provinces in Canada to be re-evaluated and some removed.
  • Gave Canadians something we can mostly agree on.
  • Canadian companies are now trying to diversify their customer base to avoid relying on the USA.
  • Canadian Tourists are either enjoying Canada or seeing other diverse parts of the world. Always good to see new places.
  • Good for Mr. Trump! He certainly has done the bigliest job he could.
• I still have a long list of complaints!!! But I’ll stop there for now. Expect more unintelligible rants to come. Allegedly, I am retiring next year (from my REAL job), you know what they say about idle hands!

Next Year, Better be Good! You hear me, 2026?

This year was bad. Let us hope next year is better. Otherwise, I will have a longer list of financial grievances to air next Festivus!

Next, financial feats of strength!

Let's rumble! Financial Festivus isn't over until I am convinced to set up a Bitcoin ₿ Wallet!

Festivus Rants Over the Years

• Festivus Financial Airing of Grievances for 2024.  Remember, Festivus is a celebration for the rest of us! Next, the Feats of Financial Strength! #Festivus #AiringOfGrievances #Finance #Debt #Oligarchs
• Festivus Financial Airing of Grievances for 2023 : Now that Festivus is here, it is time for the financial airing of grievances. You folk have really been getting on my nerves this year! #Festivus #AiringOfGrievances #Finance #Debt
• Festivus Financial Airing of Grievances! Back in 2016 I started these rants, and you are gonna keep hearing about them!
• The Airing of Grievances! An important part of Festivus is the airing of grievances, and this year I have a lot to get off my chest in terms of financial articles.

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The Dunning-Kruger effect suggests you may not be as smrat (sic) as you think.

In the field of psychology, the Dunning Kruger effect is a cognitive bias in which people with low ability at a task overestimate their ability.

Wikipedia

I have commented that I was much smarter when I was younger. I have since realized my limitations, and the importance of asking smarter folks, or real experts about topics.

Who can you trust? That is a good query. Trust someone with a good track record, who has made sensible suggestions before. I would shy away from the advice from a guy you met in a bar, who told you that Fart Coin was going to explode.

Remember some sage advice from Preet B., “I am an Indexer, I don’t care what the market did!”, a calm perspective on investing.

Should you believe me? That’s another thought provoking concept.

• Believe me, when I talk about my mistakes, and there are many of them out there. I learned far too much from the school of hard knocks.
• Warnings of who to be wary of? Certainly consider those.
• If this web page suddenly espouses buy Gold Futures, Bitcoin or anything else, it has been hacked, and just ignore it. Also, run a malware checker on your system.

Yes, I have talked about ideal profiles, but they are either Index Funds, or ETF Index Funds. These are suggestions, that you should monitor, before diving in. This too conservative portfolio is from my past. Those index funds were good, but still have higher Management fees, than you should pay. You can get the same for much lower MERs in many ETFs. If you want something conservative buy VCNS .

Not sure what the young person’s perspectives might be on this. Most grew up online watching “experts” shout advice on TikTok, YouTube, or from whichever bro in the group chat bought crypto at 3 a.m. They’re painfully aware that confidence ≠ competence especially when their rent is $2,200 for a lovely broom closet in Toronto. I hope they appreciate any article that says: “It’s okay not to know everything, but please for the love of poutine don’t take investment advice from a Tik-Tok Video Entity.”

Key Terms to Remember

• Dunning-Kruger effect: overestimating your own skill
• Overconfidence bias: trusting your gut more than real evidence
• Halo effect: thinking someone is smart because they sound smart
• Authority bias: believing over confident strangers
• Optimism bias: “It’ll work out!” (No, it won’t.)
• Cognitive Biases based on Misinformation , or creating misinformation or just plain stupidity. If you don’t really understand it, keep your thoughts to yourself!

Useful Canadian links:

• https://www.canada.ca/en/financial-consumer-agency.html
• Money$chool run by our friend Preet B. well thought out concepts, go watch some (yeh, I did say that thing about bros on videos, didn’t I?)
• https://www.osfi-bsif.gc.ca
• https://michaeljamesonmoney.com/ he has forgotten more about money than I ever knew
• https://thewealthybarber.com/ why aren’t you already following him?

A Short FAQ

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When I was younger, many of my friends thought of me as a fast thinker. Many times I had very snappy answers to their quips or stories. It took me a while to figure out that while I had a quick mind. However, my quickness in responding to most problems was wrong. As I have aged, my mind has slowed, yet my initial reactions remain incorrect. The critical factor is that, most of the time, I remember it and plan accordingly.

That is correct; I was a quick wrong thinker. I am a much better slow thinker. If you give me enough time, I will eventually figure out the correct answer to a problem.

I used to think not getting the correct response right away was a sign of a weaker mind. I now realize that some problems need time to view all the possible angles. There are a few remarkably quick and intelligent minds out there, but there aren’t many (trust me, I have met many folks who think they are quick thinkers, but they are usually as wrong as I am).

Countless times, I have made “snap” decisions which at the time seemed like great ideas. In the end, those decisions were wrong (or effectively bad) when I look back on them. There is no shame in asking for time to think about things, and if someone pressures you to make a snap decision, follow the advice of a noted child psychologist, who says that when  your child confronts you with a snap decision, answer:

If you need an  answer now, the answer is NO, if you want to wait a while, we'll see what I decide.

BCM credo

I find this philosophy the mature way to approach any decision (I am not saying to get into overthinking gridlock, however, underthinking a problem is worse).

The next time you think that someone is somehow inferior because they take longer to make decisions, ask yourself if they end up making good decisions or not. That is the accurate barometer. As my wife points out to me many times, if, instead of listening or looking at a problem, you are attempting to formulate a quick "solution," you are in danger of choosing the wrong "solution" or worse, the right "solution" for the wrong PROBLEM.

The photo is an excellent picture my brother took when he visited China. Sometimes good things take a while, so be patient and don't rush them. You might not like how the rushed version turns out.

Epilogue

My mind is still occasionally quick. This happens when I remember song titles from the 1980s, but for major decisions, I now contemplate.

Slow Thinking in Personal Finance Redux

Slow thinking is one of the few financial tools that costs nothing and can save plenty. Whether you're deciding on a mortgage, choosing investments, or that new car that you can't reasonably afford, a pause gives you space to make better choices.

Financial marketers are built to force fast decisions!

• Limited time offer!!!
• Act now!!!!
• Rates won’t last.

Your bank account doesn't care how urgent a salesperson makes something sound. It only cares about the arithmetic of your life.

Think of slow thinking like compound interest for your brain. The longer you let ideas sit, the more clarity you accumulate.

Red Flags in Fast Financial Decision Making

• Someone wants an answer right now →
• Anything involving “guaranteed returns” →
• You hear yourself say (or worse THINK!) “How bad could it be?” →
• Your buddy Craig says it’s a great idea → catastrophic red flag. (Financial BLACK FLAG!!! )

Some helpful external links:

• https://www.canada.ca/en/financial-consumer-agency.html
• https://www.getsmarteraboutmoney.ca
• https://www.osfi-bsif.gc.ca

FAQ for Slow Thinking

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A while back, I read a book called “Creative Whack In the Head” by Roger Van Oech (Amazon Link), and it has an excellent section on solving the Right Problem. The section had a very entertaining story, which I think is topical to Financial Problem Solving as well:

“I’m not returning until you fix it”, bandleader Count Basie told a club owner whose piano was always out of tune. A month later Basie got a call that everything was fine. When he returned, the piano was still out of tune. “You said you fixed it!”, an irate Basie exclaimed. “I did”, came the reply, “I painted it.”

Creative Whack in the Head by Roger Von Oech

Now, the important thing in financial planning is to make sure you are solving the RIGHT problem, not just a perceived problem.

Right problem with the wrong financial solution:

• I can’t afford my credit card payments, so I should get a payday loan?
  • No, you should figure out where you are spending your money and curtail it. If you are really in a financial fix, maybe see a Registered Bankruptcy trustee?
• Everyone is making money on Bitcoin, I should get into that
  • Do you understand Cryptocurrency? FOMO is a very dangerous motivator. Stick with low cost ETFs with a safe coverage of investments. Buying a Bitcoin ETF is NOT mitigating risk.
• I find investing confusing, so I invest in bank mutual funds
  • Good idea, but the solution isn’t the best. Maybe learn a little about Index Funds or safe ETFs and use them? Good on you, just maybe your solution isn’t quite on target.

Borrow the book from the library. It’s a light read that may cause you to think differently, and sometimes that is what you need for your Debt Reduction thinking.

Another good book about problem-solving is John Cleese’s “Creativity a Short and Cheerful Guide” (Amazon Link).

More on Solving the Right Financial Problem

Debt reduction always feels like trying to fix a car with too few tools. But the real trick is diagnosing the actual problem. You can’t fix overspending by adding more credit, no matter what the lending company tells you. You can’t fix investment confusion by handing your money to the bank rep who is working on Tuesday morning. Don’t get me started on missing out by YOLOing into crypto.

The best long-term approach is boring: track spending, kill high-interest debt, automate savings, and stop chasing financial magic tricks. It’s not sexy, but collections are not chasing either.

If you consistently focus on the right financial problem instead of the loudest one, you’ll make more progress in one year than most folks do in a decade.

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I had a look at one of my older posts, Vultures, and while it is an interesting rant that fires in all directions, the first comment made me think about something I keep hearing about these days: the concept of Ethical Investing.

The commenter in that specific post pretty much called me a scum bag for investing in banks, which, given my rants about how terrible the service is that Banks give, makes me more of a hypocrite than a scum bag (IMHO), but I only bring this up to start the discussion.

Yes, I do invest in the Canadian Banks, mainly because they do seem to find new and exciting ways to make money, most likely in a way that screws regular folks royally, but I don’t have an issue with that. But that is pretty much where I draw the line for investing. You might ask what I don’t invest in (directly, I may invest in these because I hold many index funds and ETFs that may spread funds to these industries/areas):

• Payday Loan companies: interesting that I will invest in banks that make a fortune off consumer debt through credit cards and bad loan terms, yet I don’t want to invest in Payday Loan companies, which are just a much smellier part of the same financial compost heap. I am a complicated guy that way (or a hypocrite, as I am sure someone will point out).
• China: I am staying the heck away from China and Russia, just because totalitarian governments worry me, and what they have done to their populations makes me leery of giving them my money.
• High Tech: This is primarily a once-bitten, twice-shy scenario, where I have lost enough money in this area in my younger days, and frankly, the scum bags who run some of these companies are really in the same category as a few dictatorships I have read about. This means AI and that area as well.
• Carbon Footprint Offset Funds: I don’t understand it, and I really don’t trust any of it. I think I’d rather invest in Sanitation Companies before I get into this Green Shell Game.

I do not go out of my way to live up to the high ideals I have set, but I do try to steer clear of these areas (and others that seem shady at best). Is this Ethical Investing? Somewhat, since it is my own ethics that I am following, but I think it is not Big E ethics, more small e ethical investing.

What areas do you stay away from, and are you a Big E Ethical Investor, or a small e?

Ethical Investing Hypocrisy Redux

Ethical investing used to be about avoiding tobacco and landmines. Now it’s a sprawling branding exercise where every company claims to be “green,” “sustainable,” or “aligned with human values,” usually while firing half their staff and outsourcing the rest.

The honest approach is what was hinted at: accept that ethics are personal. Avoid what bothers you, invest in what doesn’t, and don’t let guilt stop you from using low-cost index funds. You’re not voting for world peace with your TFSA, you’re just trying to retire before your knees give out.

Red flags in ethical investing

• High MERs -> some “ethical” ETFs charge double for the same holdings. OK you might need some extra research, but double?
• Vague criteria -> if the fund excludes “bad actors,” but can’t name them, run. Know your enemy.
• AI funds with no transparency -> huge red flag as companies scrape data without consent. No such thing as copyright any more?

FAQ Ethical Investing Hypocrisy

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The EI rate max of 2026 is a little higher, and CPP has jumped this year, too. Don’t forget CPP2! Was it following the inflation rate? Not the current rate of inflation.

There have been many debates over whether CPP and EI are taxes. CPP is the Canada Pension Plan, and EI is Employment Insurance, so I’m not sure what they are getting at. It sounds like a rallying cry for those who feel their rights are being invaded.

Interest in this topic continues year-round. I have never collected either in my life, but I might collect CPP sometime in the near future, but not until I am 70, would be my guess, should I make it that far.

Will 2026 be a better year? I will no longer comment on this area, as my prognostication skills are subpar. This past year has been quite significant. I do not wish to guess what 2026 might bring.

When we start 2026 (a new year), all who receive pay cheques begin paying CPP and EI premiums again. The Japanese term is Salaryman. Depending on how much you make, this might be a short-term issue or a year-long pain.

If you pay CPP and EI premiums all year, don’t worry; this is not for you. Read on for those who have an end date for their CPP premiums.

CPP and EI Max 2026

EI this year is again a bit lower:

• The maximum insurable earnings for 2026 is $68,900, up from $65,700 in 2025. This is the EI maximum insured income for the year. If you earn more than this and claim EI, your benefits will be based on this amount.
• The rates are changed from last year:
  • Workers rate (self-employed folks should research further, or if you live in Quebec) $1.63 per $100 earned.
  • Maximum premium paid $1,123.07. Once you reach this point, no more EI will be deducted from your pay

CPP rates rose over last year. Max earnings did go up, as well.

• Maximum Pensionable Earnings: $74,600 (up from $71,300 in 2025)
• Employee Contribution Rate: 5.95 % (no increase this year)
• The maximum contribution for year: $4,230.45 ($8,460.90 if self-employed)

CPP2

• The ceiling for CPP2 for this year is $85,000. You may complain but this will be a good thing for you when you get older.
• If you earn more than the first ceiling of $74,600, you will make 4% payments, up to a maximum of $416 (self-employed $832). These payments apply up to the second ceiling of $85,000.

When do I stop Paying?

A simple table of when you might stop paying EI and CPP. Find your estimated gross income in column 3; the first column should estimate when you stop paying.

Past CPP & EI

Yes, it is a topic I write about, as it is essential to me. Here are a few from the past years to compare and contrast (hint see how much CPP has gone up).

• CPP and EI for 2026 they went up again (don't forget CPP2!)
• CPP, CPP2 and EI for 2025 so much fun in a new year
• Only EI went up in 2024 but they are still taking it out too
• With Inflation roaring CPP and EI for 2023 went up
• For 2022 the CPP and EI Limits went up again
• The 2021 limits for CPP and EI were
• CPP and EI for 2020
• CPP and EI for 2019
• Merry New Year, CPP, EI and #MoneyTalk (2017)
• Gosh Darn it! CPP & EI Again!!! (2014)
• Fun with Numbers for 2013 (CPP and EI)
• Gosh Darn CPP and EI! (2010)
• Fun with Numbers with CPP and EI (2007)

Reference:

These are the sites I gleaned the information from

• Employment Insurance premium rate
• CPP contribution rates, maximums and exemptions

FAQ Answers for CPP, CPP2 & EI Maximums for 2026

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This piece was originally written in 2007, long before Pinterest weddings, Instagram wedding flex culture, or the modern $40K “average Canadian wedding.” Costs have exploded, trends have gone nuts, and the pressure to host a movie-quality event has never been worse. This cautionary message from 2007 is even more relevant today: overspending on a wedding can cripple you financially before you even start your life together. Wedding Lifestyle Creep for Wedding costs in Canada is a real thing! Get off Pinterest!!!

After spending a delightful evening at my brother-in-law’s reception many years ago, I looked back on my wedding and where we had the right idea, and where we might have gone wrong (financially speaking, I’ll leave the critique on relationships to Mrs. C8j):

• We had our reception as a brunch, which was much cheaper, and because we only needed the reception room until 3:00 PM, we actually got it for free, as we had booked lots of rooms and we were paying for the meal.
  • Because this was brunch, very little liquor was served.
• The real reception was at my wife’s parents’ house, so her parents and I bought most of the booze “retail” from the OLC, which was cheaper. In hindsight, we should have gone to Quebec to save even more.
• We didn’t spend too much on a honeymoon (which I regret, but we couldn’t afford it).
• Both sets of parents also gave generously to the blessed event (in case they are reading and thinking I am trying to portray this as something I solely paid for). We tried not to ask for too much either. Parents, don’t get sucked into the spending orgy that can transpire here.

Weddings are emotional powder kegs, which is why they’re such a financial minefield. Vendors know you’ll overpay to “make it perfect,” and they lean hard into that vulnerability. The smartest couples are the ones who set a budget before the venue tour, before the dress try-on, and before Mom starts crying over floral arrangements. They also need to follow that budget, FYI.

The only part that really matters is the legal and emotional commitment. Remember that one, you forget it sometimes. The rest is completely optional glitter. Half the things people go bankrupt over are forgotten within a week, or worse, never overlooked for the wrong reasons. Do your future selves a favour: keep your marriage strong by starting it on a financially sound footing.

I am not a believer in blowing massive amounts of cash for a wedding (as you can tell).

Remember my advice in Parenting Tip #327: Large Expenditures if you are a parent, getting caught up in this situation. Hopefully, the Marriage Preparation course helped out too!

Helpful Hints Redux

The best idea I have seen online would be the following scenario:

• Announce it is a DRY wedding, no alcohol at all. Make up some religious argument so folks can’t argue.
• Get someone to set up a “bar in the parking lot” or similar, and then buy the booze for it. Give the “bar tender” his cut and take the rest of the income and pay for the wedding. Sounds sensible to me.

FAQ Weddings and Bankruptcies that Follow

 Useful Links on Weddings?

Wedding costs in Canada: from MoneySense

Hidden wedding fees: 24 Hidden Wedding Costs You Probably Haven't Thought Of
Don't let these fees sneak up on you.​

Vendor red flags: 7 Red Flags That Indicate a Wedding Vendor Isn’t Right for You

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In Canada we enjoy many things, and here for your enjoyment is my ode to Canada:

C  is for Cheap, but also for Charitable, which all Canadians are.
A  is for Always buy the First Round, that is a Canadian thing.
N  is for Nugget (of AU), Never the 51st, and also for Nortel, a topic not to discuss, either.
A  is age, both Canada and I are older, but ageism is not cool.
D  is for Debt, the scourge of us all.
A  is singing our praises Allowed! Also for Advice too!

For your enjoyment, William Shatner sings Oh Canada (another former Montrealer):

Other Canada Days

• In 2006 I gave a rather demure Happy Canada Day Cheer
• 2007 was another fine Happy Canada Day kind of year.
• In 2008 we started showing a big Canadian Flag Happy Canada Day
• For 2009 Happy Canada Day mentioned that July 1st is moving day in Montreal
• Happy Canada Day 2010 has another big flag and some of the NFB vignettes
• In 2012 we start with NFB vignettes to celebrate Canada Day
• Canada Day in 2013 just had a big flag
• What was exciting in 2014? Happy Canada Day for one!
• Happy Canada Day 2015 with a definition of Canada as well
• Happy Canada Day and Best Mid-Year Financial Stories for 2016, lots of stuff here, even a Preet video!
• In 2017 Plenty of Happy Canada Day revelry to celebrate Canada 150
• With the arrival of 2020 one more Happy Canada Day post
• Canada Day Celebrate Our Freedoms, back to the future?

Fourth of July

We mustn't forget our family down south.

• What does the 4th of July mean to Canadians? Not as much as Americans, but it does look like a fun party to watch.
• What is the 4th of July is a follow-on to the previous post.

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If you die on December 31st, 20XX at 11:59 PM, it is vastly different from dying on January 1st, 20XX+1 at 12:01 AM.

In the first Scenario your estate can be wrangled, wrestled and closed (most likely) on Tax Year 20XX, which usually means year 20XX+1.

If you choose to leave this mortal coil in the second scenario, your estate’s works with the CRA will not close until year 20XX+2! You died in year 20XX+1, thus you need to:

• File a return for year 20XX+1
• File a closure for year 20XX+1, which most likely, only happens in year 20XX+2!

I think I was aware of this. The concept was brought home again when my mother passed away in 2025.

Important Point on Date and Time of Death

In Ontario, you are only declared dead (complete with Date and Time) when the Doctor starts doing your paperwork. Makes sense, no worries. If this happens in a hospital, no problems, easy peasy.

If this happens somewhere without a Doctor around, the Doc must show up within 48 hours after being asked. This supports the first point I made about the year you passed away in the CRA.

I learned this from the Doctor who showed up at my Mother’s Residence after my mother passed away. The Doctor knew my mother's condition. Thus, the Doc was "On Call" despite the impending snowstorm. The Doc arrived within an hour of my mother’s passing.

The Doctor told me that she is on call on every New Year’s Eve. She stays nearby for the reason pointed out in Section 1. Hell of a way to celebrate the New Year.

Remember to plan your estate ahead of time. Please check with your liquidator, or executor to make sure they want to do it. You can always hire an Estate Firm to do it instead.

Estates and Taxes in Ontario and Quebec: 5 Authoritative Resources

Avoid costly mistakes and have a smooth succession. Here are five trusted resources to help navigate estate taxes in Ontario and Quebec.

Ontario Resources

1. Estate Administration Tax – Ontario.ca
Official Ontario guide to the Estate Administration Tax. Learn how it's applied to estates over $50,000 and how to file the Estate Information Return.

2. Calculating the Estate Administration Tax – Ontario.ca
Step-by-step calculator and asset overview. Easily estimate what your estate will owe and which assets are subject to taxation.

3. Inheritance Taxes & Estate Taxes – Miltons Estate Law
Legal insight from an Ontario estate law firm. Understand what is taxed (and what’s not) and how to minimize the estate’s tax burden legally.

Quebec Resources

4. Successions and Taxation IN-313-V – Revenu Québec
Official Quebec government guide for estate liquidators. Details all tax obligations when settling an estate in Quebec.

5. Estate Planning – Éducaloi
Plain-language tips for minimizing estate taxes. Learn how to plan using trusts, charitable gifts, and other Quebec-specific strategies.

Need help interpreting this for your situation? Consult with a notary or estate lawyer in your province to get tailored advice.

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Stats Canada provides a lot of information. I always find interesting spins on some of the stuff. No, I am not going to comment on Frozen Chicken Futures. March 2007, they published the value of Employer Pension Plans in Canada. This is the value of employee pension plans that their employers administer. They lost value last quarter (of 2006) but have since rebounded.

What is more interesting to me is the next interesting statement:

About 4.6 million Canadian workers are members of trusted plans. Of these, 2.5 million are public sector workers in municipal, provincial, and federal governments and enterprises, crown corporations, government boards, commissions and agencies, and public educational and health institutions. Private sector workers make up the remaining 2.1 million.

Public pension plans March 2007

Over 4 million Canadians are in a Pension Plan of some kind. I think that is a pretty good thing. Remember, a pension means you have income other than the Canada Pension Plan. You can use your RRSP money as savings if you can live on your pension.

At the time I was a member of an excellent pension plan that is unfortunately capped for me. I understand why Nortel did this. More private companies seem to be discovering just how burdensome a Pension Plan can be. It's not just about administering it. They also have to keep money in it.

Suppose you have a pension, good for you. If you don't, better make sure your RRSPs are getting their maximum. You will be able to live on your CPP benefits.

Pensions in 2023

Over two-thirds of registered pension plan membership are covered by defined benefit plans

Over 4.7 million Canadians were active members of a defined benefit (DB) pension plan in 2022, up 3.3% from 2021. Membership in DB plans accounted for 68.1% of the total membership in RPPs in 2022, up 0.1% from 2021. Female membership made up 55.9% of total DB membership in 2022.

Pension plans in Canada, as of January 1, 2023

Looks like there are more folks in pensions now? Not a great deal, but I would have thought there was going to be a decline.

My Pension Status

When I first wrote this I was in the Nortel Pension Plan. Luckily, I got out of it before it collapsed. My statement about pensions being funded (above) seems to have been a bit of foreshadowing. I transferred the money to my PSPC pension, so I "landed in butter". Others were not as lucky.

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So… Do You Have a Pension Plan?

If you do, that’s great just make sure you understand how it works and what it promises. If you don’t, that’s okay too but start building your own retirement strategy today.

Plan like your future depends on it because it does!

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References on Pensions

1. Pension plans in Canada, as of January 1, 2023 (Statistics Canada)
   A comprehensive update on the number and type of registered pension plans in Canada. It highlights the continued dominance of defined benefit plans, despite ongoing shifts in the retirement system.
2. Overview of the Canada Pension Plan (Government of Canada)
   The official Government of Canada resource explaining eligibility, contributions, and benefits under the Canada Pension Plan (CPP) a foundational pillar of retirement income.
3. The Canadian Retirement Income System (OECD)
   A global snapshot of Canada’s retirement income structure, offering context for how pensions (public and private) interact with programs like OAS and GIS.
4. DBRS Report: Pension Tension – The Future of Canada’s Retirement System
   This report discusses long-term risks to pension sustainability, such as aging demographics, low interest rates, and shifts in employer offerings.

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The hope was that I would make some money to help him out, but I never really did. I don’t have the urge to really whore myself out. I do have AdSense ads, which pay me pennies, but that is about it. I have had a few paid posts here, and a few other things, most of which I have deleted or rewritten.

In my early days, I wrote about everything and anything. Don’t believe me, have a look through the archives of my 3rd year, 2007. Holy cow, how did I vomit out that much? Little did I know what 2008 was going to bring to me!

I write a great deal less now, and only about things that matter to me. Those things are:

• Family and Finances, which should be for you as well.
• Disabilities, and the RDSP, which I am a talented user of (for lack of a better term). I wouldn’t call me an expert
• Occasional flights of fancy about Personal Finance ideas that interest me.

I thank you for stopping by, when you do. This ended up mostly being an open letter to my family, and myself about money.

What comes next?

I am rewriting the older material. A lot of it is SEO clean up, and fixing some atrocious grammar. I update things as best I can as well. I usually will post the updated versions on my extensive social media presence.

I am using AI for publishing on Social Media. I figure I have lived my life as a mathematician, watching the world cheat with calculators and spreadsheets, so why is it a crime for me to use AI to write SEO material? I am not going to publish AI-written works as my own; most folks who read this site can easily tell which is which, if I did.

I am confident I will continue to write now and then. I want to write more about Money & Dementia, as I have experienced a great deal over the past few years, with my mother’s descent and eventual demise from this.

Thank you, good reader, please come again.

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Verb the Noun!

How many financial catchphrases can you create in this format?

Financial Catchphrases

Pay the Debt

OK that is an easy one, and a personal favourite.

Secure the Future

That one comes up a lot in financial planning circles.

Invest in Yourself

I like that one, it sounds a bit pompous, but it works. Using your money to build your skills, health and life in general is always a good idea.

Build the Wealth

It is certainly better than building debt today. Remember wealth is not just money in the big picture, keep that in mind.

Read the Documents

OK, maybe this is a four-word sentence; it should be read the fine print. This one is an important one. Don’t just sign things without reading them! Some lawyer, bank, car salesman, or insurance company wants you to “just sign.” That reason alone should make you want to sign.

Other Less Popular Financial Catchphrases

Slam the Savings!

It's a kind of confusing message there. Slam money into your savings, or maybe Saving is bad?

Ram the RRSP!

Again, not sure that one works. Ramming more money into your RRSP is a good idea, but the phraseology is a bit awkward.

Throttle the TFSA!

Kind of, but not really. You should maximize your TFSA, but that doesn't sizzle enough.

Bonk the Bank!

Maybe that one could catch on. We don't mean to physically bonk them, but make them behave and not charge you too much? Maybe Ban the Bank?

Crunch the CRA!

While the folks at the CRA can be annoying, I think this one is a bit too violent.

First the Coffee!

Not financial, but a phrase I use daily. I suppose But Beer First would work, after lunchtime as well.

Verb the Noun Conclusions

It is easy to catch yourself using these simple idioms. They can be descriptive, but they are at best flippant and at worst simple.

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