Tomorrow’s Gas Price Today: Long-time Member of Parliament Dan McTeague runs a website that forecasts the next day’s gas prices for major cities across Canada. It can help you decide if you want to tank up today or wait until the next day. The website correctly forecast last week’s spike of approximately 6 cents a litre.
TFSA or RRSP: The Globe and Mail ran a extract from David Chilton’s The Wealthy Barber Returns. In it Dave offers an intelligent take on which vehicle is better for retirement savings.
US Economy in Recession: The New York Times reported that according to the Economic Cycle Research Institute, which calls itself the “world’s leading authority on business cycles”, the US economy is already in a recession or is able to enter into one.
Is it a bear market?: A bear market is typically defined as a 20% decline from a closing high to a closing low. Jason Zweig writes in The Wall Street Journal that this definition is just one of many and others have been in vogue in the past.
Around the blogs
Michael James provides a good reminder to clients of BMO InvestorLine: You have to make a call to move your existing US dollar holdings in your RRSP to the USD side of the account.
The Wealthy Canadian rounds up some of the model couch potato portfolios.
Canadian Couch Potato reported that diversified, passive model portfolio has held up rather well (so far) in the current market downturn.
Canadian Financial Stuff shared a very funny (okay, it won’t be so funny if it happened to me) video about bank fees.
Fraser Smith after whom a certain manoeuvre is named passed away recently. A guest author wrote a tribute to Mr. Smith on Million Dollar Journey.
Tracking spending is surprisingly useful in getting insights into where to cut back and save money. Triaging my Way to Financial Success offered a peek into his system for tracking spending. I use Microsoft Money myself and the good news is it is completely free now.
My Own Advisor offered his take on different ways to reinvest dividends.
On his Retire Happy blog, Jim Yih discussed ways to avoid probate fees but each method has its own set of complications.