Short Takes: TFSA Misconceptions, Nest Egg Needed for Retirement, and more

Here are my posts for this week:

Rockin’ Your RRSP

CPP at Age 60 Anchors Canadians’ Thinking

Here are some short takes and some weekend reading:

Boomer and Echo have an excellent quiz on TFSAs that illustrates misconceptions with example scenarios. You’ll notice a pattern in the true/false answers after a while.

Million Dollar Journey says you won’t need as much money to retire as you think. I’d say it all comes down to how much you intend to spend. I’ve known people who can’t seem to get by on less than $10,000 take home per month, and I’ve known others who could comfortably get by on just CPP and OAS.

The Blunt Bean Counter explains the tax implications of using a corporation to hold your investments.

Potato looks at rules of thumb for the cost of house maintenance. It’s a tricky area, but one thing I’d bet is true is that maintaining a house is more expensive than most people realize.

Canadian Couch Potato tells the story of one investor’s journey to inner peace. I’ve certainly found index investing to be much less worrisome than stock picking.

My Own Advisor lays out his priorities for found money such as tax refunds.

Big Cajun Man gets into a debate on debt. Both sides take extreme positions, but if you have to choose one extreme, you’re better off being deathly afraid of debt.