Quotes of the Day

The answer to the question of whether to contribute to our RRSP or pay down a mortgage does not have to be either/or. While the math shows a considerable interest savings by applying money to your mortgage principal, the growth of an RRSP contribution is also impressive. So here's a sensible compromise. Make the maximum RRSP contribution you can afford from your cash flow and then use the proceeds from your tax refund or the savings in taxes you achieved by filling a Form T1213 to pay down your mortgage. [2013] - Gail Vaz-Oxlade

Three qualities indicate emotional health. Generosity, truthfulness, and kindness. If you find a person who is emotionally healthy, you will have eliminated 75 to 80 percent of the causes of divorce. [2002] - Neil Clark Warren

It's not really necessary to like what you are selling. The key is to sell what people are willing to buy. [2005] - Adam Ginsberg

Contrary to traditional cautions against exercising within 3-4 hours of bedtime, we now know that exercise within 3 hours of bed is unlikely to interfere with sleep. In fact, it may be helpful. Regular strength workouts are associated with improved sleep quality according to people's ratings. Mind-body exercises such as yoga and tai chi are also associated with improved sleep quality ratings. Overall, people feel their sleep is improved when they exercise, regardless of the type of exercise. The sleep benefits of exercise may not be so evident if you have chronic insomnia. If you have persistent insomnia, combine your regular exercise program with CBT-I and insomnia doesn't have a chance. [2021] - Judith R. Davidson

If you're earning income that has you paying tax at 35% or less, maximize your TFSA first and then put any additional savings in your RRSP. If you're over 50 and have never used an RRSP, you won't have as much time to put the tax deferred compounding of RRSP on your side. Unless you're in the very top two tax brackets and will get a whack of cash back from the Tax Man now, stick with a TFSA. [2013] - Gail Vaz-Oxlade