Special RRSP Tax Considerations for 2015

For our Canadian readers, after the joy of the holidays comes the joy of …RRSP season!!!

Many may think I’m wacky but I kind of like RRSP season as it often rhymes with investing money and reducing taxes. It’s always a delight for me to torture my brain and find the best way to save as much as possible on taxes.   

My passion for RRSP reasoning will be well served this year as matters are even more complicated due the transition between the conservative and liberal governments.

Doing a thorough analysis would still be a nightmare so let’s limit ourselves to my family’s situation to help grasp some of the implications. I hope it will inspire you to explore your own RRSP tax conditions afterwards and complete all relevant research.

Before we go into the thick of things, I’ll remind you that I am not an investment or tax professional of any kind. The intent of this blog is not to give specific tax-related or investing advice. Before investing yourself, we suggest you to do all necessary research and consult a licensed financial professional if need be.

 

One Major Change

Because of the unusual transition situation, should we increase or reduce RRSP contributions this year? That is the question!

Starting in 2016, the liberals will reduce the middle tax bracket from 22% to 20.5% (for taxable income between $45,282 and $90,563 in 2016). They will also introduce a new tax bracket of 33% for taxable income over $200,000 but this measure won’t affect us with our more modest revenue. 

12-Minute Meetings (Revisited)

The 12-Minute Series was originally posted in 2012.

We’ve decided to republish it integrally because we believe it can still help as everyone aspires to make things better.

Let’s hope it stirs up the discussion and stimulates you to change the world 12-Minute at a time!

This article was originally posted on June 12, 2012

Sometimes, meetings can be a drag, especially when your boss likes to listen to himself for endless and countless hours. Furthermore, he’ll probably be upset afterwards because you missed some of his points and you lacked time to complete all your work.

Maybe someone could introduce him to the 12-Minute Segment Rule.

Use The 12-Minute Segment Rule

During a meeting, each speech or presentation should be limited to 12-Minute segments because for most people, the optimum concentration period is only 12 minutes. Beyond that, the average person won’t be able to focus and follow explanations.  

Season’s Greetings

Happy Holidays to Everyone

Not my intention to brag (it will probably sound as if I’m doing it anyway) but I’m now off and will only work next year!

I know…I know…Next year is only a couple weeks away…

Still, I’m very proud to take 12 consecutive business days off !!!

If you include weekends, I’ll be out of the office for a total of 18 days…a welcome and well deserved break!

Like me, I sincerely hope everyone will be able to spend quality time and have fun with friends and loved ones during this busy and sometimes crazy holiday season. I also wish you and your family to have more happy and productive moments in the upcoming brand new year!

A Touch of Star Wars Optimism

On a different note, call me optimistic, but I recently noticed great signs that our world is improving; things may not be moving as fast as we would like…yet the overall situation seems to be steadily getting better!

How 12-Minute and Writing Saved Me

Today, I would like to tell you how 12-Minute and writing really got me out of a bad very place earlier this year.

To some extent, using the 12-Minute Approach and writing again literally saved my life.

Hitting The Wall

In 2013, lure by interesting work related projects, I gradually stopped writing. By the start of 2014, I had completely stopped any writing except from some technical stuff for work.

Working conditions and relations were far from perfect. For a while, my colleagues and I felt all our efforts were sabotaged by management. They probably didn’t do it on purpose but their lack of leadership and poor management skills resulted in a very tense working atmosphere and greatly affected the efficiency of the entire organisation.

Repetitive failures and lack of planning were also affecting the morale of the team.

To make things worse, some good employees left and sadly, the whole situation is not getting better to this day.

In those circumstances, late in 2014, I hit the Wall!
  

Black Friday Math

I couldn’t resist summiting you this basic math problem on crazy Black Friday:

Offering an insane sale, a store is giving you an additional 50% rebate on an item already marked 40% down. What total discount percentage are you actually getting?

Some may promptly answer 90%...

…the correct result is 70%. 

12-Minute Balance (Revisited)

The 12-Minute Series was originally posted in 2012.

We’ve decided to republish it integrally because we believe it can still help as everyone aspires to make things better.

Let’s hope it stirs up the discussion and stimulates you to change the world 12-Minute at a time!

This article was originally posted on May 12, 2012

Many believe that one of the most important keys to happiness is balance. Sadly, many lives equate to a never ending juggling act struggling in search of that so elusive concept.  

The 12-Minute Approach offers you simple yet powerful ways to achieve that so precious balance in your life.

Let’s hope that, by focusing on rhythm, order and harmony, these 12-Minute Ideas help you strive toward that balance so essential to your happiness and well-being.

Equal Balance between Needs and Activities

In order to stay happy yet still be effective, your life should be equally balanced between your needs and your activities.