Kaleb Pilkey

[Kaleb Pilkey @kalebpilkey]

@AravindSitham Ahh behaviours! Good things to think about!

[Kaleb Pilkey @kalebpilkey]

@AravindSitham Completely agree. Saving $5k in an RRSP with after tax dollars may be all they can save- which is fine. My thought is if that $5k goes into TFSA, they’ve actually saved “more” into retirement - tricking themselves because they aren’t necessarily counting on the refund to survive.

[Kaleb Pilkey @kalebpilkey]

History never repeats itself; man always does - Voltaire

[Kaleb Pilkey @kalebpilkey]

Want to understand fluctuating stock prices?

"Whether news is good or bad does not matter. What matters is whether the news is better or worse than expected." Ben Felix

https://t.co/ma2pLvJ53V

[Aaron Hector, R.F.P., CFP, TEP @AaronHectorCFP]

15 common-sense pieces of financial advice that are not hard to do. If you do them all, you will be further ahead than most of the people around you.

1. Don’t carry balances on credit cards.

2. Protect yourself and your family from catastrophic events. Insurance when appropriate is wise. Insurance when not appropriate can be costly.

3. Understand what you spend and what you make. Spend less than you make. Set up automatic savings during your working years.

4. Maintain flexibility so you can pivot if things don’t go exactly according to plan. Flexibility is underrated.

5. If you are paying a fee for something, make sure you are getting something of value in return.

6. If you have monthly subscription services that you haven’t used in the last 2 months - cancel them.

7. Your interests and priorities are different than those around you. Stop comparing yourself to others.

8. It’s ok to say “That sounds fun but I can’t afford it.”

9. Get a Will, Power of Attorney, and Personal Directive (Health Representation Agreement / POA for Personal Care). If your situation is not complicated, online providers are available at low costs and are completely legal.

10. Track your Net Worth over time. Saving increases Net Worth and so does paying down debt. Seeing improvement each year helps to keep you motivated.

11. Coffee likely won’t derail your financial plans, but spending too much on cars and housing might.

12. There’s power in simplicity. Take a minute to list all of your bank and investment accounts. If at the end of the minute you’ve missed or forgotten about an account, you probably have too many.

13. Name beneficiaries or successors on your registered accounts (RRSP/TFSA/FHSA/LIRA/RRIF/LIF) if it makes sense to do so. Don’t forget about your work plans. Don’t assume you’ve done it already, especially if you have accounts at discount brokerages.

14. Don’t forget about tax. RRSP and LIRAs have future tax associated with them when you eventually make withdrawals. There is future tax due when you sell your non-registered investments, real estate and other property outside of your principal residence if there are capital gains. Self employed individuals and business owners also need to remember about their upcoming tax bill on the income they earn. Don’t open yourself up to surprises that you can’t manage.

15. Good communication can solve a lot of financial issues when they are small problems. Poor communication and secrecy can turn small financial problems into big ones over time.

[Kaleb Pilkey @kalebpilkey]

@FINER_Life_Mvmt Yikes! A few pieces missing in this comparison…

[Kaleb Pilkey @kalebpilkey]

@SlowToWrite @TomBuck Tom, don’t let Sam fool you - he is guilty of doing this… often!

[Kaleb Pilkey @kalebpilkey]

@AaronHectorCFP Hey Aaron, how do I practically to go about this? With Questrade for example, would there be a donation form that would be filled out from their website? What if the charity doesn’t have an investment account?

[Kaleb Pilkey @kalebpilkey]

“People can take the volatility; they can’t take the story” @CameronPassmore

[Kaleb Pilkey @kalebpilkey]

@PastorPWMartin @gfcto Who have you become?

[Kaleb Pilkey @kalebpilkey]

To love one another as Christ loved us may lead us not to some heroic, spectacular deed of self-sacrifice, but to the much more mundane and unspectacular ministry of burden-bearing - Stott

[Kaleb Pilkey @kalebpilkey]

@AaronHectorCFP How do you donate in kind? Is there an option to do this on trading platforms? I hear lots about doing this but can never find the step by step of actually donating the shares to the charity.

[Kaleb Pilkey @kalebpilkey]

@SlowToWrite

[Kaleb Pilkey @kalebpilkey]

@MarkMcGrathCFP @HannahMcVeanCFP I’ve used it for years. I find I mainly use it for spending tracking where I can then dump the data all in a uniform state from all different CC’s / accounts into an excel sheet to then lookup against for more analysis and such.

[Kaleb Pilkey @kalebpilkey]

@MarkMcGrathCFP @HannahMcVeanCFP Mark - interested on whether YNAB stuck or maybe put another way what your thoughts were with it

[Kaleb Pilkey @kalebpilkey]

@MarkMcGrathCFP $250k personal capital gain exemption. Did I hear you on RR right that it’s annually? If I had $1M in capital gain from investments in taxable account, can I just sell to trigger $250k cap gain each year to stay at 50% inclusion?

[Kaleb Pilkey @kalebpilkey]

@AaronHectorCFP I’m assuming the US dividend income has to be greater than the us donations a Canadian would claim?

[Mark McGrath @MarkMcGrathCFP]

In financial planning, the optimal path is only knowable in hindsight.

Do everything you can to stack the odds in your favour.

Then plan for the worst.

[Kaleb Pilkey @kalebpilkey]

@kylejmcd @davidalter @focobobbles @TheRoadBiz @BodogCA 9:11