Quotes of the Day

RRIFs are usually a good choice if you enjoy managing your money, have an indexed company pension plan that guarantees you a basic level of income, and don't immediately need to start drawing on your funds. Another advantage of RRIFs is that you can convert them to an annuity at any time. Annuities are usually best when you have small retirement savings that absolutely need to last a number of years (especially if you're young and your family has a history of living a long time) and must have the peace of mind that comes with knowing just how much you have to live on. [2019] - Eric Tyson

The real estate Doppler Effect occurs when one city or town's economic windfall (e.g., a new manufacturing factory or plans to increase production and employee numbers) impacts nearby cities or towns. Homebuyers and investors can also take advantage of the micro-Doppler Effect. It occurs in areas that surround economically-strong communities and in neighbourhoods near those being revitalized thanks to a new development (e.g., a new post-secondary campus or a healthcare facility). [2013] - Don R. Campbell

Dealing on a retail or suggested retail basis is an excellent way to effect most trades. Never try to trade your goods or services at anything less than retail value. [2000] - Jay Abramham

Combinations of antioxidants like vitamin A, vitamin E, and beta-carotene in pill form were associated with increased risk of death in those who took them. Supplements contain only a select few antioxidants, whereas your body relies on hundreds of them, all working synergistically to create a network to help the body dispose of free radicals. High doses of a single antioxidant may upset this delicate balance and may actually diminish your body's ability to fight cancer. [2015] - Michael Greger

You can earn approximately $13,000 as an individual each year in Canada while avoiding almost all taxes. This $13,000 can also come in the form of RRSP withdrawals. With that in mind, you could set yourself up with a plan that would generate $40,000 per year using a mix of an RRSP and a TFSA while paying virtually no taxes. An RRSP/TFSA hybrid plan could see a couple having combined RRSPs of $650,000 and combined TFSAs worth $350,000. Drawing down 4% of each account would result in $40,000 in income while paying zero taxes. If a couple with $70,000 salaries started maximizing their RRSP and TFSA contributions from scratch today with no assets, they could reach the numbers above in under 15 years. [2021] - Rejean Venne