Dividend Stocks Rock Promotion (sponsored)
I mentioned this in a recent newsletter blast but I’ll share it here for readers not subscribed to the newsletter. Longtime colleague Mike from Dividend Investor has started a dividend growth investing newsletter called Dividend Stocks Rock (Canada and the US), and it’s good! So good in fact that I’ve convinced him to offer an exclusive discount to MDJ readers but only for the next 30 days. The membership includes complete dividend portfolios, dividend stock rankings, trade alerts via email, and a live buy list.
The regular price is $149.99 for a one-year membership but the exclusive MDJ reader price is $77 (annual fee will never increase)! Also, this is a no-risk offer! If you sign up and feel that the newsletter is not for you, you can cancel and get a full refund anytime within 60 days of signing up. Check out all the details here.
Monday Money Links
In addition to Mike above, there are a number of bloggers starting new ventures. Check out Stephen Weyman’s free credit card genius tool that offers a comprehensive analysis of the best credit card based on your spending. Well done Stephen! Here is my opinion of the best free cash back credit cards in Canada.
Robb from Boomer and Echo has an excellent article about dealing with losses in your portfolio. My tip? Keep your eye on the horizon and keep that long-term investing mentality. The market goes up over the decades, even if you buy at market tops.
My Own Advisor gives some great advice on how to invest like a pro.
Do you have a RESP? We have a family RESP set up for the kids and it’s growing on schedule. There are must-know tips, tricks, and rules when it comes to contributions and withdrawals from a RESP. This article from Moneysense is one of the best that I’ve read on the topic.
Big news last week for buyers in the real estate market. The Office of the Superintendent of Financial Institutions Canada (OSFI) has created new rules for new mortgages. The biggest rule being that buyers must pass a financial stress test in order to qualify for the mortgage. “Guideline B-20 now requires the minimum qualifying rate for uninsured mortgages to be the greater of the five-year benchmark rate published by the Bank of Canada or the contractual mortgage rate +2%.” As of this post, the benchmark rate is 4.89%. In my opinion, this might not be a bad rule – more details here.
Remember when I wrote about the proposed tax changes for small business in Canada? Well, the Finance Department has finally provided some clarification and has even backtracked a little from their original stance. In particular, passive income within a corporation was targeted by the feds with the plan to penalize passive investment portfolios with new taxes. The feds have now indicated that they will allow up to $50,000 in passive income within a corporation/year. I’m uncertain on how they will enforce this and the composition of what they consider “passive income” (capital gains? 50% of capital gains? dividends? interest? return of capital?). I will post more when I know more. In the meantime, here is the best I have found on the new passive income rules.