Excellent point about the importance of submitting your child’s taxes from age 17 onward. I did that, but don’t remember if I ever wrote about it. Might be an idea!

From our cursory checking of the ODSP rules, he already has too much in his bank account to qualify. Now, having said that if we worked at it:
1) Spent his savings account on his schooling, along with his RESP
2) I started charging him rent (which isn’t a bad idea, come to think of it)
3) Read the ODSP qualifications closer
We could get him qualified, but we’ll wait on that for now. –Thx Ron

About Grant entitlement calculations the year the beneficiary turns 19, plan holders need need to understand the beneficiary’s tax return needs to be filed the year they turn 17, even if they earned zero income, because the Grant entitlement for the year the beneficiary turns 19 is based on their net taxable income from the year they turned 17. If the tax return isn’t filed, the Grant entitlement will be $1,000 instead of $3,500 and the Bond entitlement will be zero because the government won’t know the beneficiary’s income was low enough to qualify for the $3,500 Grant or $1,000 Bond.

The post discusses how financial worries disrupt sleep by perpetuating stress cycles, linking to a blog advocating budgets and expense cuts to regain control and improve rest.

Accompanying image features the adage “Plan like a Pessimist, Live like an Optimist,” illustrating a balanced approach to financial anxiety that prepares for worst-case scenarios while maintaining positivity.

Peer-reviewed research, including a 2025 Rice University study, supports this by showing financial stress alters bedtime behaviors and reduces sleep quality, with chronic effects mediating broader health risks like dietary issues.

The 2021 Meme-Stock Trader
A Reddit user with almost no investing experience reads a few WallStreetBets posts, believes he has “figured out” how short squeezes work better than hedge funds, YOLOs his entire savings into GameStop or AMC at the absolute peak, then loses 80–95 % when the frenzy ends. He was certain he was a genius… right until he wasn’t.
The Crypto Bro Who “Did His Own Research”
Watches a few YouTube videos, reads a whitepaper once, and declares himself an expert on blockchain. Puts life savings into Shiba Inu, SafeMoon, or some random 2021 ICO because “it’s the next Bitcoin.” Convinces friends to do the same. Most of these coins go to near-zero, but he still insists in 2025 that he was simply “early.”
The Options Rookie on Robinhood
New trader discovers 0DTE options, buys $50 calls on a stock he saw mentioned on TikTok because “it’s going to the moon.” Has no idea what implied volatility, gamma, or theta are. Loses 100 % of the premium in hours, then posts “The market is rigged” instead of admitting he didn’t know what he was doing.
The Guy Who Beats the Market for One Year and Starts a Newsletter
Gets lucky picking a handful of tech stocks in 2020, returns +120 % while the S&P 500 is up 16 %. Immediately believes he has superior insight, starts charging $2,000/yr for picks. The next three years he dramatically underperforms but still insists he’s in the top 1 % of investors.
The “Bitcoin Since 2011” Bragger Who Actually Bought in 2017
Constantly lectures everyone about how only idiots don’t own Bitcoin, claims he’s been in since the “early days.” In reality bought the top in Dec 2017, sold in despair at $3,500 in 2018, then bought back in at $60k in 2021 and now tells everyone he’s a long-term HODLer.
The Overconfident Day Trader
Reads one book (probably “How to Day Trade for a Living”), paper-trades profitably for two months, goes live, and within six months blows up the account. Classic line: “If you follow my rules you can’t lose” — said right before breaking every one of his own rules on a revenge trade.
The Friend Who Gives Stock Tips at Parties
Has a full-time job unrelated to finance, but because he made money on Tesla or Nvidia, now authoritatively tells everyone which penny stock or SPAC is “the next 100-bagger.” Track record over 5+ years is almost always negative, but confidence level remains at 100 %.
The Leveraged ETF Holder
Buys 3x bull ETF (TQQQ, SOXL, etc.) because “the market always goes up long term.” Doesn’t understand decay/volatility drag. Holds through a 20 % market drop and wakes up to −70 % losses in weeks, then screams about manipulation.
The “I Don’t Need Index Funds, I’m Smarter Than Average” Guy
Refuses to buy simple S&P 500 index funds because “80 % of fund managers underperform.” Proceeds to pick individual stocks himself and… joins the 80–90 % who underperform over the next decade, but still insists active investing is easy.
The 2025 AI Token Frenzy Participant
Sees a new AI coin pump 10x in a week, declares “AI is the future” and apes in at the top with 50–100 % of net worth because he “understands the tech.” Coin dumps 95 % in the following month. Still waiting for “the real bull run” years later.

The common thread: low experience + early random success (or watching others succeed) → extreme overconfidence → catastrophic risk-taking → big losses → refusal to update beliefs.

The antidote is simple but rare: intellectual humility, long-term data, and sticking to boring, evidence-based strategies (e.g., low-cost index funds) instead of chasing the latest shiny object.

I was under the false impression that their parent company was a pay day loan supplier, I was incorrect, and will adjust my article, accordingly, thanks.

Read about ncluded check digits.

What’s refreshing is that the math isn’t hidden behind jargon. It’s clean, blunt, and reminds me that skipping Uber Eats and throwing that $40 toward my credit card isn’t pointless. That said, some modern touches would be great: mention snowball vs. avalanche debt repayment, or even how credit card interest compounds faster than a YouTube rabbit hole. But overall, solid advice with no judgment just how we like it.

They’re marketed as “convenient,” but what they really do is blur the line between credit and cash — often at a cost. Unlike regular purchases, credit card cheques can be treated like cash advances with no grace period and higher interest. Plus, if someone steals one? It’s just like someone cashing a personal cheque against your account. A total liability.

Best practice? Shred on sight. Or better yet, switch to e-statements and save your recycling bin from unnecessary drama.

That said, I’d love a checklist or flowchart. Most of us are visual learners with limited attention spans and lots of debt. Tell me: TFSA or RRSP? Bank or brokerage? Robo-advisor or couch potato? Still, the voice is warm, smart, and like talking to that uncle who knows what he’s doing but never makes you feel dumb for asking.

That said, the original post could be updated with examples that resonate today — like haggling with Bell over internet bundles, or calling Telus to negotiate a data plan after threatening to switch to Fizz. Also, maybe throw in a script or cheat sheet for readers like me who get mild panic attacks just thinking about phoning customer service. We weren’t raised with landlines, OK?

It’s refreshing to see advice that doesn’t immediately leap to “treat yourself” culture. Instead, it calls out lifestyle creep like it’s a financial villain — and it is. The list format works, and the self-deprecating tone keeps it relatable. One suggestion? Add some modern references — maybe mention how crushing student loans or using a raise to escape gig work might be more urgent today than a gym membership.

Why is he losing the DTC? You can reapply, and they will most likely give him another 5 years of DTC. The RDSP account remains in tact if the DTC is lost. No Bonds or Grants will be paid to it, and you can’t deposit into it, but it is all still there.

If he gets the DTC back the RDSP is then “back in business”.

Should I set a reminder in my calendar for 11:59 PM, December 31st with a note: “Don’t die a minute late”? Maybe sync it with my estate planner and the Grim Reaper. 💀🗓️

And here I thought retirement planning was stressful enough.