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The 11 best travel credit cards in Canada for July 2023 + MORE Jul 13th
Credit Cards
The 11 best travel credit cards in Canada for July 2023
Searching for the perfect credit card? In under 60 seconds, CardFinder narrows down your top matches without impacting your credit score, no SIN required.
Find my perfect card* .... More »
I hate working: What can I do about it? + MORE Jan 29th
Feeling drained, unmotivated or generally unenthused at work? You’re not alone. Many young people, particularly Gen Z, are grappling with job dissatisfaction and financial stress and wonder if they are destined for a loveless work relationship.
With the pressure to succeed on top of a competiti.... More »
If you’re going on vacation, don’t forget travel health insurance Jul 3rd
You’ve packed your clothes, toothbrush, extra pairs of socks, sunscreen—and anything else you might need during your vacation. Experts recommend adding travel insurance to the list, whether you’re going near or far.
“We all think, ‘Oh, we’re just going to go away, maybe even for a.... More »
Joe Mimran’s best financial advice + MORE Feb 1st
(Illustration by Ben Kirchner)
My first paycheque was a tip I received delivering groceries when I was 11 years old. I immediately bought a Coffee Crisp bar with it. Nowadays, I love to indulge in a great wine and I enjoy collecting it, too. I get great pleasure out of opening up a really beautiful .... More »
Watch: The differences between a TFSA and RRSP + MORE Sep 22nd
A tax-free savings account (TFSA) is a registered account that holds investments and allows you to grow your money tax-free and withdraw it tax-free. That means you don’t have to report any income earned in the account on your personal tax returns. A registered retirement savings plan (RRSP) is al.... More »
Liability cap means Amtrak could pay no more than $200 million to Philadelphia crash victims
– canadianbusiness.com
WASHINGTON – For the first time, U.S. passenger train operator Amtrak could face a $200 million payout to train crash victims — the limit set by Congress. But that may be too low to cover the costs of the eight lives lost and more than 200 people injured in last week’s derailment in Philadelphia.
That payout cap for a single passenger rail incident was part of a late effort in 1997 to pass a law that would rescue Amtrak from financial ruin and help it one day become independent.
Adjusted for inflation, which the law does not consider, that amount would be just under $300 million now. And Amtrak is still far from independent.
An Associated Press review of past cases found that Amtrak never before has been liable for a $200 million payout for a single passenger rail incident. The Philadelphia crash could be the first time the liability ceiling — designed specifically for Amtrak — would actually apply to the railroad.
It’s not known how high the costs of victims’ deaths and injuries from Tuesday’s crash will run…
That payout cap for a single passenger rail incident was part of a late effort in 1997 to pass a law that would rescue Amtrak from financial ruin and help it one day become independent.
Adjusted for inflation, which the law does not consider, that amount would be just under $300 million now. And Amtrak is still far from independent.
An Associated Press review of past cases found that Amtrak never before has been liable for a $200 million payout for a single passenger rail incident. The Philadelphia crash could be the first time the liability ceiling — designed specifically for Amtrak — would actually apply to the railroad.
It’s not known how high the costs of victims’ deaths and injuries from Tuesday’s crash will run…
Reader Questions – Essential Saving and Investing Advice
– myownadvisor.ca
Learn, save, invest and prosper by subscribing to My Own Advisor.Thanks good readers, I appreciate hearing from you and receiving your saving and investing questions.
I’ll be the first person to acknowledge our saving and investing approach might not be suitable to everyone however I believe things are working out for us so far. Before I get into the latest set of reader questions to My Own Advisor here’s a brief look at our financial priorities:
Very high priority on saving, contributing and maxing out our Tax Free Savings Account (TFSA) every year.
High priority on contributing monthly to our Registered Retirement Savings Plans (RRSPs). I am out of contribution room now but my wife is not and so we’re working on that.
Priority on killing mortgage debt.
Our focus on these priorities is leading us to these financial goals:
Some decent tax-free passive income in our TFSAs.
A modest tax-deferred nest egg (RRSPs) to withdraw money from.
A paid off home that will provide us with some financial flexibility in 5-7 years…
