Managed Money Reporter Newsletter — Issue 278, January/February 2014


Editors: Carl Spiess & Allan McGlade


Featured Articles



Why Canada is a Great Place to Retire

Carl Spiess

By Carl Spiess, CFP, CIM, FMA, FCSI, MBA

Recently, our team was treated to a special presentation by Peter Drake, VP of Retirement and Economic Research at Fidelity Investments. He focussed on the top 10 reasons why Canada provides such great retirement opportunities. We agree that Canada is a great place to retire for all of the reasons that Peter describes, and are pleased to share a copy of his presentation with our clients:

Why Canada is a great place to retire, Peter Drake, 2013/11/07

If you would like to see more on his research, we include these video links:

And other articles with Peter and his Top 10 list:

We agree with Peter that Canada is a great place to retire and we are here to help you achieve your retirement goals. Contact us for answers to your retirement, insurance and financial planning questions.

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Making the Most of your 2014 Registered Plan Contributions

With a range of options for tax sheltering/deferment, including RRSPs, TFSAs and RESPs, it can be difficult to decide on the best savings route to take. Allan and I have our own thoughts, which make up our “order of financial priorities”:

The following article contains a very detailed analysis of the decision making framework involved with the choice of investing in a RRSP, a TFSA, or simply paying down debt: :

The maximum RRSP contribution for the 2013 tax year is 18% of your 2012 income to a maximum of $23,820 — your 2012 notice of assessment from CRA will have exact details. The deadline for 2013 contributions is Monday March 3rd, 2014. A good summary of ScotiaMcLeod's RRSP can be found at:

The maximum TFSA contribution is $5,500, unchanged from 2013. There is no deadline for these contributions and unused room will accrue for use in future years. Find out more about TFSAs at:

An RESP contribution of $2,500 per beneficiary per year attracts the full 20% CESG grant. Please contact us for exact amounts based on your previous contributions and beneficiaries ages. More RESP information can be found at:

To make your contribution online, please see the instructions at:

Or if you prefer to mail a cheque, we have our easy to use contribution form:

As always, we are here to help so contact us and we can offer advice for your particular situation.

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Recommended Reading

Here is a good quick two page summary of what ScotiaMcLeod's Portfolio Advisory Group is thinking:

Along those lines of tempered expectations, Allan and I do share the concerns that are outlined in this recent Financial Post article and caution against expectations that 2014 will generate returns as strong as we saw in 2013:

But ultimately, we like to rely on portfolio managers who stick to their very long term views and the values of the businesses they are buying. The EdgePoint investment team has released its commentary on Q4 2013, including a look forward towards 2014:

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Team News

We are pleased to announce that Christina Calvert has returned to the team. It is likely a bit easier to return knowing that mother-in-law Sharon Calvert, who recently retired, lives nearby and helps look after grandchildren Sarah and Jack. We welcome Christina back and she looks forward to helping you with your account administration questions.

In 2003, there were 10 of us working as the Spiess McGlade team (see photo below from our December 2003 newsletter).

At Sharon's retirement dinner in October, Jane-Ann flew in to surprise Sharon and we had a mini Spiess McGlade team reunion. As the other 8 of us continue to work together, we actually had all 10 of us stand in the same positions and snapped a "10 years later" photo. Mouse over to see the past and present!

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Recommended Link of the Month

The CANNEX financial exchange is a source we use when shopping for annuity quotes and comparing GIC rates for our clients. In this way, we can be assured that we are providing you the best combination of rate and service.

Here is a link to their free annuity quote samples showing how much income a $100,000 annuity contract generates monthly for life.

For the detailed quotes based on your actual age, please contact us as we are subscribers and can access Cannex's detailed quotes to get special features like a principal repayment guarantee.

Cannex also provides rate information for GICs.

It might be tempting to constantly move from one institution to another to chase the best rate. However, most of our clients prefer to know that we monitor the rates available out there, and since ScotiaMcLeod offers the ability to hold over 21 different GIC issuers in each account with us, we generally have a very competitive rate available. (Each GIC is also covered by CDIC insurance to $100,000.) If one were to move, pay transfer fees, and set up a new account (at a single institution limited to $100,000) – likely a few years from now, that one odd institution that showed a better rate today would then have a lower rate, and the shopping and transfer process would start all over again. For example, the average 5 Year GIC rate listed on Cannex is 2.25%, ScotiaMcLeod's current best rate (as of Jan 15, 2014) is 2.8%. We are pleased to say our GIC shopping service is also much more convenient for our clients.

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Contact Us

T.  416.863.RRSP (7777)
     1.800.387.9273
F.  416.863.7479
E. carl.spiess@scotiawealth.com
    allan.mcglade@scotiawealth.com

ScotiaMcLeod is a division of Scotia Capital Inc., member of CIPF.

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