Canadian Profiteer

The Economic Cost of Surgery Wait Times

Toronto Sun — Mon, 17 Jun 2013 01:14:45 +0000

While most Canadians would agree on the human cost of waiting for surgery and other medical treatments in Canada, few realize that there is also an economic cost in addition to the frustration, pain and stress for individuals and their families.

According to a Fraser Institute study published last year, the surgical wait times in the country cost Canadian patients a combined $1.08 billion in lost time and productivity in 2011. Read More…

The Realities of Home Ownership

Toronto Sun — Mon, 10 Jun 2013 02:48:36 +0000

Sometimes folks say they want something, but then do things that totally work against them achieving their goal. Home ownership is a perfect example.

I get letters every week from people who say they want to own their own homes. They can even paint a pretty clear picture of what that home will be like, where it will be and what it will feel like to live there.

What some folks can’t come to grips with is the fact that owning a home means not spending money in restaurants, on new clothes, or on vacations — all in the name of building up a down payment. It also means not going out three nights a week to party with friends because now you have a mortgage and a whole bunch of around-the-house things to get done. Read More…

Keep the Taxman out of Your Investments

Toronto Sun — Sun, 02 Jun 2013 22:53:02 +0000

If you are a novice investor in Canada, our tax system can make it very difficult to get the most after-tax growth out of your savings. This is because all of our income is taxed at different rates and, due to our progressive tax system, the more you make, the more they take.

When saving to increase your financial security down the road, you need to have a very good understanding of how different investments and accounts are taxed so you can make a well informed investment decision. Read More…

Investing In Gold And Silver

Retire By 40 — Mon, 27 May 2013 04:30:04 +0000

First, it’s necessary to decide how you want to deal with these precious metals. (I’m adding silver into the discussion, though other metals, like platinum and copper, are also significant.) People have been using them for coinage and ornamental purposes for thousands of years; early civilizations like the Sumerians and Egyptians seem to have focused primarily on gold for jewelry and ornamentation.

Weighing your choices

Gold is measured by troy ounces (12 troy ounces to a pound). It’s extremely heavy for its volume; ‘specific gravity’ gives it a weight more than 19 times heavier than water. (Gold-panning miners rely on this, looking for gold in river bottoms, where it would sink and become lodged in crevices.)

Read More…

The 5 Financial Habits that Changed My Life

Club Thrifty — Mon, 20 May 2013 02:04:00 +0000

I don’t try to hide the fact that we used to be pretty sucky with our finances. Although we never let things get too out of hand, I finally accept the fact that we used to waste most of our income. We bought stuff. We went on trips. If we didn’t have the cash, we would finance anything that we desired. Even furniture. And vacuums. I swear.

We also lived without any sort of budget. Unfortunately, this meant spending without limits until the next payday came along. Since we have relatively high incomes, it never seemed like much of a problem. Read More…

What to do with $10,000 Right Now

Yahoo! Finance — Mon, 13 May 2013 03:50:02 +0000

For most people, getting a windfall of $10,000-through an inheritance, a severance payment or a small lottery win on the weekly Scratch ‘N Win card-can make a huge difference in their lives. Whether you invest in your small business, save it towards a long-term goal like retirement, pay off hefty consumer debt or help your kids with their college education bills, doing so can speed up your journey down the road to financial independence. But first you need to figure out the best place to put your money to get the maximum payoff. Here are some options. Read More…

Cheap American Flights threaten Canadian Airport Business

CBC News — Mon, 06 May 2013 02:06:51 +0000

The promise of cheaper flights is driving many Canadians across the border to U.S. airports — costing millions of dollars in lost revenue in Canada — but the federal government says it won’t subsidize air travel.

The trend of more Canadians flying out of the United States is disconcerting to Canada’s aviation industry, which is calling on the federal government to do something to lure back those travelers. Read More…

Harder for Gen Y First-Time Home Buyers to Get Into Market?

Yahoo! Finance — Mon, 29 Apr 2013 02:04:52 +0000

Andrew MacLeod is part of demographic that apparently is being priced out of Canada’s housing market, but that didn’t prevent the 34-year-old from finding a way to buy his first home.

MacLeod and his wife, 33, overcame current economic hurdles such as high property prices, tighter lending conditions and shaky job markets to purchase their four-bedroom, two storey semi-detached house in Ottawa’s Lindenlea neighbourhood, which MacLeod cheekily describes as the “rattier” end of the posh Rockliffe Park area. Read More…

Why We Need Higher Property Taxes. Really.

Yahoo! Finance — Mon, 22 Apr 2013 02:31:31 +0000

When Canadian cities want to build infrastructure, they politely request provincial and federal funding-and then beg, cry, slobber, stomp their feet, hold their breath and turn blue until they get their money. You’d think our mayors would resent a system that trades their dignity for new curling rinks and overpasses, but they put up with it because it’s in their political interests to remain helpless. That way, they can blame city budget woes on the cold-hearted provincial and federal governments. It may work politically, but our infrastructure is increasingly held together by duct tape and hopeful thoughts. Read More…

Gold and Bits – Two Sides of the Same Coin

CBC News — Mon, 15 Apr 2013 02:08:00 +0000

It was as if gold was taking a lesson from Bitcoin the day before, and for once you couldn’t blame North Korea.

On Thursday, the electronic currency plummeted to about $50 after hitting a Wednesday high of about $260.

“What did they think?” chuckled someone at a business news meeting I attended. “Bitcoins have no real value. They are just an imaginary currency.”

Fast forward to Friday. Gold plummets $30 before North American markets open and another $30 by mid-morning, bumping along around $1,500. That is a 21-month low and well off the $1,700 level it hit last October. Read More…