Motley Fool Canada has just published my blog Why a $10,000 TFSA limit will help the middle class. It lays out my argument that if the new Liberal government truly wishes to help out the beleaguered middle class, then the logic used to justify the cut in the middle-income tax  bracket from 22% to 20.5% should apply equally to the 11 million Canadians who have  TFSAs.

As we have noted before, a poll by Angus Reid showed that more than half of those 11 million do NOT want to see Prime Minister Trudeau keep his election promise cut the TFSA limit almost in half.

And as Bill Tufts argued Wednesday on the Hub, the larger TFSA limit is only one step to pension parity vis a vis the generous public-sector pensions that are ultimately backstopped by those same middle-class taxpayers. See Let’s level the playing field between TFSAs and Public-sector pensions.

Finally, a reminder that Catherine Swift and her WorkingCanadians.ca group continues to attract support for its petition to preserve the $10,000 TFSA limit.

See also Catherine’s blog on the Hub, entitled Majority of TFSA owners want the $10K limit: join petition to preserve it.

As we have noted before, in order to get the arithmetic growth of petition signers, it’s not enough just for YOU to sign it. We’re suggesting you use email, social media and one-on-one conversations with like-minded family and friends, and get at least six others to sign it too.

Here’s my latest Financial Post blog, titled More than two thirds of Canadians worry ‘a lot’ about money, but 69% still don’t have a plan.

You can also find some of the factoids from the survey here.

In case you missed the kickoff on Sunday, we’re now well into the seventh annual Financial Planning Week, which started on November 15th and runs until November 21st. As the link reveals, there’s something every day on the program.

On Thursday night, the Canadian ETF Association (CETFA) celebrated the 25th anniversary of exchange-traded funds, the first of which began trading in Toronto before trading anywhere else in the world: the TIPs or Toronto 35 Index Participation Units were later merged into the iUnits S&P/TSE 60 Index ETF.

As this link observes, the actual launch date was March 9, 1990. That was almost a full three years before the first ETF was listed in the United States: the SPDR S&P 500 ETF (SPY)  on January 29, 1993.

At the gala event in Toronto commemorating this milestone, CETFA’s new chair –Vanguard Investments Canada Inc. managing director Atul Tiwari, who recently replaced outgoing chair Howard Atkinson — passed along the following remarks by Vanguard founder, the legendary John Bogle:

“Next week marks the 40th anniversary of the first retail index mutual fund. At first it was a flop. Only $11 million received. It was nine years before a competitor created one. At the time indexing was only 1% of equity fund assets. They have grown since then. Today indexing is fully 34% of equity fund assets … broad market ETFs remain sound investments just as long as investors do not trade them. Staying the course with less exciting low-cost, broad-market index funds may not be the greatest investment strategy ever devised but the number of strategies that are worse is infinite.”

Learning from our mistakes

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The fifth and final of my “Mistakes you’re probably making” series at MoneySense.ca was published today: Retirement saving mistakes you’re probably making.

In it, Emeritus Retirement Solutions’ Doug Dahmer — a frequent Hub contributor in the “Decumulation” section — points out that the strategies used in Wealth Accumulation are quite different than those needed once you reach the De-Accumulation or “Decumulation” stage. One of his colourful phrases is “dollar cost ravaging,” which is the opposite of “dollar cost averaging.”

The blog ends with links to the four earlier instalments this week.

As indicated in this space on Monday, MoneySense.ca is running a week-long special series of blogs, including daily ones by Yours Truly, recounting the most common mistakes we all make in saving, paying down debt, investing, retiring and in selling our homes.

Today’s instalment tackles the latter and titled Real estate mistakes you’re probably making.

Other instalments

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