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Helping Canadians with Personal Finance Since 2006

Annuities, Student Loans, Automatic Withdrawals, Pursuing Happiness and more!

Freebie of the week

The last freebie was receiving $50 by signing up for a no annual fee PC Financial World Elite Card (3% cash back towards Loblaws purchases). This time around is $100 cash to sign up for the 2% cash back MBNA World Elite MasterCard (straight up 2% cash back, no tiers), which I consider one of the best premium credit cards available to Canadians. While this card has a $89 annual fee, it’s waived for the first year and you can cancel anytime. More details on the $100 freebie here.

Weekend Reading

Annuities are an option for retirees wanting a guaranteed income stream. However, Michael James on Money shows the intricacies to think about through his Pensionize Your Nest Egg post where he explains the fees involved in variable annuities.

Many people opt for a membership with CAA or another provider with peace of mind being their primary motivation. Sustainable Personal Finance asks the question: Is Your CAA Membership Worth It?.

If you or a family member is nearing retirement and have pondered how to set up your retirement withdrawals, Boomer & Echo discuss RRIF Or Annuity? Which One Is Right For You? to help you.

If you attended post-secondary education you may have graduated with a pile of student debt like we did (at least my wife did). Most of us would think that paying off the student debt ASAP is a good thing but Ed Rempel thinks that paying off student debt is a bad idea.

Do you set up automatic withdrawals to make monthly payments to billing companies or contributions to investment portfolios? If so, it may be a good idea to check them occasionally (or regularly) as the Canadian Personal Finance Blog writes at Automatic Withdrawal Audits.

If you have planned your finances well enough to be able to leave an inheritance, then you may have deliberated on estate planning. On a related note, The Blunt Bean Counter addresses the topic of Financial Ethical Wills – For Estate Planning and Managing Family Wealth.

When traveling to the US, using a cell phone from Canada is not wise due to the exorbitant roaming charges of Canadian carriers. The Canadian Finance Blog shows how to handle the issue through the Roam Mobility Review: Save Money on Roaming Charges When Travelling to the U.S..

When did we start earning for ourselves this year after contributing to the federal, provincial and city/municipal revenue streams? The RetireHappy blog’s Tax Freedom Day 2016 post offers a detailed view on the topic.

If we cannot get cell phone companies to reduce their plan rates, then we might as well get them to help us pay the bill as Canadian Dream says at Don’t Like Your Cell Bill, Then Buy Stock.

If you are planning a cruise in the near future and are looking for ways to find the best experience, then Young and Thrifty‘s post on How to Save Money on a Cruise will come in handy.

Irrespective of our personal goals, a common underlying theme among all lives is the need for happiness. Mr. Money Mustache shows why Happiness is the Only Logical Pursuit and explains how the difference between expectations and reality is the stumbling block to achieving it.

If you would like to read more articles like this, you can sign up for my free weekly money tips newsletter below (we will never spam you).

1 Comment

  1. Big Cajun Man (AW) on July 14, 2016 at 11:07 am

    Thanks for the inclusion this week. It is important that even if you have automated your bill and savings, you do need to check up on things, or you might get a rude surprise.

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