Posted By 
Merry Christmas to all who have visited the Hub in the past two months.
Enjoy the holiday season but if you’re “enjoying” to excess, please let someone else drive!
We’ll be back on Boxing Day.
All posts by Jonathan Chevreau
10 things retirees won’t tell you
Via BC-based certified financial planner Fred Kirby comes this Marketwatch piece on ten things retirees won’t tell you. Several of the points may resonate with readers of this site, although of course our distinction between the terms “Retirement” and “Financial Independence” may make some of the points moot. We may riff off this list at some point in the future, but in the meantime also check Monday’s guest blog by Matthew Erdrey on a similar theme, and watch for a similar post on Boxing Day.
Below is Marketwatch‘s list of ten; click through on the above link for the complete piece:
1.) We’re broke.
2.) Retirement is more stressful than it looks.
3.) We spend too much time by ourselves.
4.) We’re in denial about our health problems …
5.) … and our health costs are huge.
6.) We’re coming after your jobs.
7.) We still get frisky.
8.) We’re planning to move in with you.
9.) That big Hawaii trip? It’s more like a pipe dream.
10.) We’re scam magnets.
5 things mortgage shoppers can expect in 2015
From the Globe & Mail’s mortgage columnist Robert McLister comes this list of five predictions for mortgage shoppers in 2015:
1.) More mortgage restrictions:
McLister says new limits on government-backed mortgage funding will make it costlier for lenders to fund mortgages, or new underwriting rules will make it harder to qualify for mortgages.
2.) Record discounts for variable mortgage rates:
By the end of 2015, some lenders or brokers will be advertising discounts better than prime minus 1%.
3.) Brokers will break into there camps:
These will be full-service, online mortgage brokers and everyday brokers. The latter will be uncompetitive versus other brokers, banks and credit unions, McLister says.
4.) A glut of private money:
Alternative lenders like Mortgage Investment Corporations (MICs) will thrive as investors chase higher yields and the abundance of capital will tempt sub-prime lenders to take more risk. McLister expects that as a result some will offer mortgages with only 10% or 15% down instead of the traditional 20% or 25%. As a result, consumers will have more lending options at lower interest rates.
5.) Brokers will pitch you other stuff:
Expect cross selling of everything from GIS to insurance, credit cards and RRSPs.
Last-minute gifts on a budget (yes, even gift cards!)
From Sheryl Smolkin’s Retirement Redux blog comes this useful list of budget gift-giving suggestions for the holiday season.
Sheryl is a bit hard on gift cards, which I find perfect for younger people when you have no clue what they really want — plus of course, you can specify precisely how much you will spend for each gift-card recipient.
I find most millennials are quite happy with iTunes gift cards or, if they’re readers, with cards for Chapters or Amazon.
If you’re not convinced about gift cards read this piece from Time a few weeks ago about why some believe gift cards make the best presents of all.
Magazine Subscriptions
Being a magazine guy on and off over my career, I agree magazine subscriptions are both affordable and have the advantage of showing up all year round. The ultimate here is of course Next Issue, which has been characterized as the “Netflix of magazines.”
If the magazine lover you’re thinking of prefers tablets to filling the blue box with dead-tree editions, then Next Issue may be the way to go. However, at $10/month for monthlies and $15/month for weeklies and all other frequencies, it isn’t quite as affordable as a print subscription to a single publication, which often run about $20/year.
On the other hand, it’s certainly something a whole family could enjoy, with at least 140 magazines to choose from, there should be something for everyone: a Yoga magazine for mum, for example, a golfing mag for Dad, a gaming magazine for the teens, etc. It will literally be in your face (or that of the giftees) every day, depending on how many magazines are chosen (there’s no limit)
My only caveat: It can be a real time sucker if you are intent on getting your money’s worth from the subscription. You may begin a given day all caught up on your magazine reading, only to find yourself at day’s end behind by three or four issues as new editions flow in. You feel a bit like the mythical figure, Sisyphus, forever rolling a boulder up a hill.
e-books
As a postscript, I may as well add a third suggestion: e-books. In particular, if you think US$2.99 or C$3.37 is a bargain price (and it is!), then consider the US or Canadian editions of my own e-book, pictured below.
You can find the US e-book at Amazon here. The Canadian e-book is here.
The good news is that while it may be too late to get physical books delivered from Amazon, you should be able to get an e-book delivered right down to the wire. And of course, Amazon does let you specify an e-book as a gift, provided you have the recipient’s email. If they don’t have a Kindle, they can download a free Kindle app for whatever device they have.
Time running out for Tax-Loss Selling
Not to put any pressure on anyone trying to finish their Christmas Shopping, but Wednesday, Dec. 24 is also the last day Canadians can sell stocks for tax-loss harvesting purposes.
You need three days to settle trades so next week just before New Year’s will be too late. Christmas on Thursday is obviously a holiday and Canadian markets are closed Friday for Boxing Day.
Americans have a little bit longer, since U.S. markets will be open part of the day Friday.
More details in my current MoneySense blog.
