Category: Announcements

I’m proud to be hosting only the third ever Canadian real estate blog carnival.  This carnival was started by Rachelle from Landlord Rescue and contains posts relating to real estate.

• Investing Thesis presents a guide to investing in REITs (Real Estate Investment Trusts) with Dennis Mitchell of the Sentry REIT fund.  Some interesting reasons for investing in REITs, even if you own your own house.
• Landlord Rescue has some great suggestions to lower your property value.  Just because your building has some problems, doesn’t mean you have to tell the world about it.
• Canadian Personal Finance Blog reports that the value of all the residential mortgages in Canada is now over $1 Trillion!  I think the key stat is that mortgage arrears rate is only 0.42% which is lower than it was in the 1990’s.
• Money Smarts Blog commented on the recent CREA agreement to allow MLS listing for house sellers without a commissioned agent.
• Bigger Pockets has 5 steps to holding a mortgage inside your RRSP.  Interesting post, but it seems to be missing some warnings about the high fees that are involved.
• SVB from Digerati Life bought a house in a short-sale.  Can you guess which country this happened in?  SVB has bought and sold several homes before, so she knew what to expect.  Short-sale homes have their own difficulties however.
• Landlord Rescue wonders about VIP tenants.

My whole family was sick this week, which is why I didn’t do my normal Wednesday post.  Next week, however will be jam-packed with great posts!

On with the links

Canadian Couch Potato wrote a good piece about risk in RESPs.  He includes a few quotes from your’s truly.

Bob Aaron wrote about a house that was built on the wrong lot.  Quite amusing.

Larry MacDonald reported on Martha Stewart’s investing adventures.  Some pretty funny quotes about Martha.  Here is one:

In another email, he [broker’s assistant] complained that she had hung up on him, adding that at one point she made the “most ridiculous sound I’ve heard coming from an adult in quite some time, kind of like a lion roaring underwater.”

Jim Yih wrote about RRSP and RRIF tax traps.

Ending the Rat Race reviewed Smoke and Mirrors by David Trahair.  He’s hosting a giveaway of the latest version so go on over and enter.  I really enjoyed this book – it was the second personal finance book I ever read.  Can you guess the first?

Studenomics evaluates the best online bank for 20-somethings.

Million Dollar Journey evaluates if a TFSA or RRSP is better if you have a definied benefit pension.

Canadian Capitalist ponders the 2010 Globe & Mail discount brokerage rankings. Don’t forget about my comprehensive discount broker comparison.

Boomer & Echo bought a new car. I agree, I think used cars suck.

MapleMoney explains what is a stock.

Last week, I had the pleasure of chatting on the phone with Rob Carrick – who most of you know as Canada’s premier personal finance journalist with the Globe & Mail.

• This Globe & Mail article was the result:   The mysterious world of RESPs revealed.  It lists seven of the trickiest rules of RESPs.

Reviews

Financial Highway also did a great review and is also hosting a giveaway.

• This book is highly recommended.

• Some of the charts in the book could (should) be cut and pasted to the government’s RESP site. I especially liked the one section where he used the lead in: “What This Means”, followed by “Just to Clarify”. For the reader, it’s not a ‘dumbing down’  exercise– his clarification process is both valuable and refreshing.

• Sure, you can spend countless hours using web searches to locate a lot of this material, but you simply won’t get the clarity and conciseness that Holman’s process offers.

MapleMoney did a nice review and is also hosting a book giveaway.

• I recommend The RESP Book to any new parents that want to help contribute to their child’s post-secondary education, but are not sure where to start or how it all works. Mike Holman’s book provides everything you need to know about RESPs in an easy to read 115 pages.

Canadian Dream wrote a review and is also continuing his book giveaway contest.

• The book is just full of useful information to help you navigate the world of RESPs and better yet, he provides examples to help illustrate the complex parts.

• Regardless of how familiar you are with RESPs, you are likely going to learn something about how they work in this book.

Sorry about the lack of a regular post this week. I was sick, my wife was sick, the kids were sick. My only goal for the week was to get healthy enough to be able to escape to work. 🙂

I had a ton of mentions in the media this week, which was a lot of fun.  Hopefully that will continue!

MoneySense interview

I wrote a while back about doing an interview with Dan Bortolotti of Canadian Couch Potato for an RESP article in MoneySense.  The article is online – it’s about couch potato investing in an RESP account.

Rob Carrick Newletter

The RESP book got a big mention when Rob Carrick linked to a book review and book excerpt on the Globe and Mail site.

Carnival winner

I won top prize in the Carnival of Canadian Real Estate hosted by Life as Real Estate Investors.  The post was actually written by Rachelle, but I’m keeping the prize.  🙂  I’m hosting the next edition so get your entries in.  Any real estate articles are ok (not just RE investing).

On with the links

Thicken My Wallet observes that investing in domestic companies is a safer way to invest in foreign markets.

Rob Carrick came up with some neat ways to juice up your GIC yields.  I didn’t know about any of these.

Beating The Index slams Eric Nuttal in a very entertaining post.  Nuttal is yet another equity analyst who doesn’t know sh*t, but spouts off on BNN to further his own interests.  Great picture too.

Rob Carrick has some suggestions for investing your cash.  I have a lot of cash in my RRSP, so I need to get on this.

Canadian Personal Finance wonders if cheques are passe.

Michael James on Money says that disagreeable financial advisors might be your friend.

Oblivious Investor says simple investing is better

Money Matters shows us the power of debt.

Smart on Money asks would you drink the most expensive bottle of wine?

Million Dollar Journey explains the difference between preferred shares and bonds.

Wisdom Journal explains how to write a business plan.

Canadian Capitalist reports from the frontlines of the discount brokerage price war.

Larry MacDonald thinks that TMX Group might be a buy.

I decided to push back my regular Wednesday post to Thursday, because I was too excited about the big media mentions today.  Not to mention two more RESP book reviews! Thanks a lot to the journalists and bloggers who made all this happen today.

Toronto Star – Ellen Roseman

Ellen Roseman wrote a piece today about the discount brokerage price war.  She linked to my little blog and mentioned the recent Canadian discount brokerage comparison that I published recently.  She also included some quotes from me.

The Globe and Mail – Dakshana Bascaramurty

This article is about door-to-door energy resellers and some of the dirty tricks they play.  I spoke to Dakshana a couple of weeks ago, and she included some of my quotes about energy resellers in the article.  I’m on page 2.

I did a post a couple of years ago about my own experience with almost getting sucked into an energy reseller scam.

The RESP Book review – Before You Invest

Natalie from Before You Invest did a wonderful review of the RESP book.  She is also hosting a giveaway, so go and win!

[Mike] has written an easy to read, easy to follow guide to Registered Education Savings Plans.

Here, finally, is a comprehensive resource written in plain-language, full of easy to understand examples, to help parents and family members feel confident they are investing their education savings safely, and building a nest egg for their child.

The RESP Book review – Thicken My Wallet

TMW wrote a very good review of the RESP book.  Another review, another giveaway – go and enter!

This is where the book thrives. It hits all the relevant points quickly and without much wasted build-up.

The value add of the book is derived from Holman’s background as a long-time financial blogger who understands the “why” questions is as important as the “what” question.

Lots of mentions and reviews today for The RESP Book.  I have to say that I’m really happy with the coverage and praise that the book is getting.  Thanks so much to everyone who is writing or telling people about the book.

The Globe & Mail

Chaya Cooperberg of the Globe & Mail wrote a great review of the RESP book.  We spoke on the phone last week, and luckily she managed to edit my rambling paragraphs into intelligent quotes which you can read in the article.

Mr. Holman’s highly readable guide to this complex account is a great resource for new parents, as well as for those who are ready to finally set one up for their kids.

Canadian Capitalist

It was definitely an honour to see a review of the RESP book on one of  Canada’s premier financial blogs.  Ram is not afraid to write what he thinks, so a good review from him really means something.

To be honest, most of the information available in the book can be found scattered between Government websites, newspaper articles, blog posts and forum discussions. But frazzled new parents will likely appreciate that the author has put everything together in one slim volume.

Young & Thrifty

Y&T is a relatively new blogger from Vancouver, who just spent a week in Hawaii.  I would love to go to Hawaii!  Anyways, she managed to read the book and create a review in the land of Lost.  She is also hosting a book giveaway, so if you are looking for a free RESP book – then head over and enter!

It is so well written, clear, no fuss, no fluff, no beating-around-the-bush and such a breath of fresh air.

I learned a plethora of things about the RESP- it really is so comprehensive and complete (yet written very clearly and simply without any wasted words) that it IS the ultimate “complete guide” to RESPs for Canadians.

I honestly think EVERYONE with a child or thinking of having a child should go out and get this book

Sympatico.ca

Kerry Taylor (Squawk), who writes at Squawkfox.com, wrote a post for Sympatico which lists my book as an RESP resource.

Check out The RESP Book: The Complete Guide to Registered Education Savings Plans for Canadians, by author Mike Holman, for an in-depth look at how RESP accounts work and how to get one started.

Happy Halloween in advance!

In case you missed it, the Globe and Mail published the first chapter of my book.  Have I mentioned that I wrote a book?  🙂

I also unveiled the monster Canadian discount brokerage comparison earlier this week.  I swear I could have written another book in the time it took me to assemble that post.

Don’t forget there is an RESP Book giveaway ending soon at MapleMoney.

My faves

My friend Jason from Frugal Dad, wrote this excellent post about momentos and memories called Giving away stuff:  things come and go, but memories last forever.  Jason has lost his mom and both grandparents over the last couple of years, so he knows something about memories.

On with the links

Toronto elected a new mayor who doesn’t impress everyone. Although I agree with Ford that fiscal restraint is sorely needed, I wish it didn’t have to come in the form of a drunken Matt Foley.

I recently discovered this National Post writer, Kelly MacParland who is incredibly funny. Unfortunately it appears she mainly writes about politics, but still worth a read.

Oblivious Investor had a great article called investing requires guessing. Unfortunately, most people just want to hear black and white answers.

Canadian Couch Potato introduces the MoneySense guide to retiring wealthy.

Canadian Capitalist discovered how to save currency exchange fees on US$ dividends.

My Own Advisor says ETFs are effortless.

Preet Banerjee revisits the variable-rate vs fixed mortgage debate.

Canadian Personal Finance wonders why would anyone want to bank on Sunday?

Larry MacDonald notes that the hysteria over rare earth is overblown.

Michael James on Money says he’s not investing in China.

The Financial Blogger explains what M-35 is all about. What I’d like to know is how he came up with the name?

Million Dollar Journey has some wealth tips for new grads

The Military Wallet (American) lists some Veteran’s Day free meals and discounts

Yes, it’s true – the Globe and Mail thought highly enough of my RESP book to publish an excerpt which ended up being the entire first chapter.  Needless to say, I was quite flattered and hope that some of you go and read it.

I’ll be doing an interview tomorrow with one of the Globe writers which should result in a review next week.  I’ll post the link when I get it.