Net Worth Update September 2016 – Sean Cooper (+15.09%)

Welcome to the Million Dollar Journey September 2016 Net Worth Update – Team MDJ edition. A select group of readers were selected to be part of Team MDJ which was conceived after the million dollar net worth milestone was achieved in June 2014. Sean Cooper was selected as a team member and will post net worth…

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Net Worth Update August 2015 – Sean Cooper (+6.3%)

Welcome to the Million Dollar Journey August 2015 Net Worth Update – Team MDJ edition. A select group of readers were selected to be part of Team MDJ which was conceived after the million dollar net worth milestone was achieved in June 2014. Sean Cooper was selected as a team member and will post net…

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Net Worth Update May 2015 – Sean Cooper (+4.83%)

Welcome to the Million Dollar Journey May 2015 Net Worth Update – Team MDJ edition. A select group of readers were selected to be part of Team MDJ which was conceived after the million dollar net worth milestone was achieved in June 2014. Sean Cooper was selected as a team member and will post net…

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Net Worth Update February 2015 – Sean Cooper (+6.7%)

Welcome to the Million Dollar Journey February 2015 Net Worth Update – Team MDJ edition. A select group of readers were selected to be part of Team MDJ which was conceived after the million dollar net worth milestone was achieved in June 2014. Sean Cooper was selected as a team member and will post net…

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Net Worth Update November 2014 – Sean Cooper (+5.21%)

Welcome to the Million Dollar Journey November 2014 Net Worth Update – Team MDJ edition. A select group of readers were selected to be part of Team MDJ which was conceived after the million dollar net worth milestone was achieved in June 2014. Sean Cooper was selected as a team member and will post net…

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How To Survive On Only $100 a Month in Groceries

In my recent article in the Globe and Mail, I’m on track to be mortgage-free by 31, the most common question I received was how I could possibly survive on only $100 a month in groceries. If your family is like most, groceries are your second highly household expense behind mortgage or rent. Although Canada’s…

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Net Worth Update August 2014 – Sean Cooper

Welcome to the Million Dollar Journey August 2014 Net Worth Update –  Team MDJ edition. A select group of readers were selected to be part of Team MDJ which was conceived after the million dollar net worth milestone was achieved in June 2014.  Sean Cooper was selected as a team member and will post net…

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How I Reached $500K Net Worth by Age 29

FrugalTrader (FT) reaching his long-term goal of a net worth of a million dollars inspired me to tell my personal financial story. Similar to FT, I’ve set out a financial plan to reach a net worth of a million dollars by age 35. Through discipline, hard work and determination, I’m already halfway there, recently reaching…

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Cashing Out Your Pension: The Small Benefit Rule

Last time we discussed the Maximum Transfer Value (MTV). As you may know, we are in the midst of a pension crisis in Canada – employer sponsored pensions are becoming the exception rather than the norm. If you’ve been with a single employer for your entire career and your pension plan allows you to transfer…

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How to Calculate Pension Maximum Transfer Value (MTV)

If you have a defined benefit pension plan, it’s important to understand what the Maximum Transfer Value (MTV) is and how it can affect you. When you leave your current employer, if you decide to take the commuted value you may not be able to tax shelter the entire amount. Canada Revenue Agency limits the…

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Consumer Price Index (CPI): How Does It Affect Me?

The Consumer Price Index (CPI) is an important measure to the Canadian economy. Whether it’s a price increase at your local grocery store, a rise in salary or a pension cost of living adjustment, the CPI affects millions of Canadians every day. Most people use the terms CPI and inflation interchangeably – although both measure…

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A Primer on the Pension Benefits Guarantee Fund

In pension administration this is a question I hear quite often from plan members and with good reason. Private sector defined benefit pension plans are becoming increasingly underfunded. A lot of this can be attributed to external market conditions – low interest rates, changing demographics and rising cost of plan administration to name a few.…

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What is a Pension Adjustment (PA)?

What Is A Pension Adjustment

Whether you’re a member of a defined benefit (DB) or defined contribution (DC) pension plan, you’ll receive a pension adjustment (PA) each year. It’s important to understand what a PA is because it affects the maximum amount you can contribute to your RRSP each year. Let’s explore the PA, how it affects RRSP room and…

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Pension Basics: The Commuted Value

If your employer provides you with a defined benefit (DB) pension consider yourself lucky. According a 2009 study by Statistics Canada, fewer Canadian employees are covered by DB plans today. In 1991 41 per cent of Canadians were covered by DB, while in 2006 only 30 per cent of employees were covered. If you have…

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