Fixing an RRSP Over-Contribution

What to do about an RRSP Over-Contribution

 RRSP’s can be a valuable tool when saving for retirement, not only do they give you a tax refund when you contribute, they also allow your money to grow tax-free until you withdraw it. I’ve talked more about the details of RRSP’s both here and here.  As a quick recap, every year that you work you earn contribution room. The amount works out to 18% of your annual income up to a maximum amount set by the government; for 2017 it is $26,010. If you don’t use your room, it does carry-over for future use. To figure out how much […]

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My Travel Bucket List

Prague

Today I’m taking a little break from talking about money and am instead going to daydream about my travel bucket list (you know, where I would go if I had ALL the money). Lately, I’ve been feeling plagued by the travel bug and have been dreaming up all sorts of places I would like to plan a trip to. We were in Barcelona last November, and I fell in love with the city, and it made a short trip to Europe seem completely doable. Before we went, I was a little hesitant because I didn’t know if it was worth […]

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Treat Hiring a Financial Advisor Like Buying a House

How to Find the Right Financial Advisor for You

Many people have a negative impression of the financial industry, and of financial advisors in particular, but how bad is the situation? There have been numerous reports circulating recently (examples can be found here and here) about people getting scammed by high fees and improper sales tactics at their financial institutions, but there are things you can do to help protect your assets.    You might be thinking that you are better off just going it on your own, and with the uptick in robo-advisors and discount brokerages, this is easier (and cheaper) than ever before. I’m not here to […]

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That Time I Ran into a Parked Car

The Importance of an Emergency Fund

Shit happens… Everyone has that mortifying story that they’d rather keep under wraps, right? Feel free to share yours in the comments (anonymously if you prefer) and make us all feel a little better about ourselves. Anyways, last month I was in a minor car accident and not only is that bad enough, but my accident involved me running into a parked car. You might be thinking, how does that even happen? Very good question, but unfortunately I don’t have a good answer. I’m not actually a horrible driver, but that doesn’t mean I wasn’t still (at least partially) to […]

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