IntenseDebate - cjottawa

11 years ago @ MoneySense - Are TFSAs only good fo... · 2 replies · +4 points

Another argument in favour of the TFSA: as David Chilton points out, many people who contribute to RRSPs *spend the associated tax refund.*

The RRSP is only efficient when the tax refund is reinvested.

For a great illustration of this, see this link: http://worthwhile.typepad.com/worthwhile_canadian...

11 years ago @ MoneySense - Bloated debt · 0 replies · +3 points

I'm dismayed that TD's info-graphic defines "success" as "consistently outperform[ing] the market" and defines having performed "close to the market" as only somewhat successful.

I suppose I shouldn't be surprised, considering the source of the graphic; TD wants people to be active, not passive traders as banks make more money when investment accounts churn.

True, long term investment success though is achieved by passive investing to achieve market returns minus fees and tracking error. I'll take that over attempting to beat the market.

11 years ago @ MoneySense - Why saving outside a t... · 0 replies · +2 points

I'd like to see Mr. Hamilton's numbers. Mine are incongruous with his statements. When he mentions fees, I wonder if he's assuming most people pay Investor's Group 3% MERs. Using 0.42% MER self-managed, no-fee mutual funds changes the picture, significantly.

11 years ago @ MoneySense - Credit repair companie... · 0 replies · +4 points

It's worth noting that both Equifax and TransUnion have automated telephone systems for requesting your free consumer disclosure (credit report).

Equifax's is 800-465-7166 and TransUnion's is 800-663-9980 and it's worth requesting both as different creditors pull one or the other file but usually not both and you should ensure both are accurate.

You'll receive a much faster response using those systems versus mailing or faxing in information which has been known to be rejected for trivial reasons.

11 years ago @ MoneySense - Can we afford to buy a... · 0 replies · +1 points

Another article of interest might be this one: http://business.financialpost.com/2012/08/25/the-...

11 years ago @ MoneySense - Know your credit score · 1 reply · +3 points

"These companies will also give you your credit report for free, but you have to print off a form and mail it in."

Interestingly, you can obtain your free "consumer disclosure" (your own credit report) via automated telephone system with both of Canada's credit reporting agencies, without having to print and mail in forms.

Here are the numbers:

Transunion (800)663-9980
Equifax (800)465-7166

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