2 Canadian dividend stocks to start your TFSA retirement fund in 2018

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Young Canadians are searching for ways to set aside ample funds to support a comfortable retirement.

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This wasn’t always an issue, but the employment world has changed considerably in the past 15 or 20 years, and new graduates can no longer assume they will immediately find a full-time job with juicy benefits.

Contract work is more common, and when a full-time gig finally comes around, the pension benefits, if any, can vary significantly.

As a result, many young people are forced to take their retirement planning into their own hands.

One popular strategy involves buying dividend stocks inside a TFSA and investing the distributions in new shares. This sets off a powerful compounding process that can turn a modest initial investment into a sizeable nest egg over time.

Let’s take a look at Fortis Inc.(TSX:FTS)(NYSE:FTS) and Toronto-Dominion Bank (TSX:TD)(NYSE:TD) to see why they might be interesting picks.


Fortis owns natural gas distribution, power generation, and electric transmission assets in Canada, the United States, and the Caribbean.

The company has grown significantly in the United States in recent years, including the US$4.5 billion purchase of Arizona-based UNS Energy in 2014, and last year’s US$11.3 billion acquisition of ITC Holdings.

The new assets are performing as expected, and shareholders are reaping the benefits.

Fortis plans to raise the

Article source: http://www.msn.com/en-ca/money/topstories/2-canadian-dividend-stocks-to-start-your-tfsa-retirement-fund-in-2018/ar-BBGLUYv?srcref=rss

This is a $64,000 house. And a robot can print it in 8 hours

Building a house by hand can be both time-consuming and expensive. Some homebuilders have chosen to automate part of the construction instead.

A new Ukrainian homebuilding startup called PassivDom uses a 3D printing robot that can print parts for tiny houses. The machine can print the walls, roof, and floor of PassivDom’s 410-square-foot model in about eight hours. The windows, doors, plumbing, and electrical systems are then added by a human worker.

When complete, the homes are autonomous and mobile, meaning they don’t need to connect to external electrical and plumbing systems. Solar energy is stored in a battery connected to the houses, and water is collected and filtered from humidity in the air (or you can pour water into the system yourself). The houses also feature independent sewage systems.

Since the startup launched in spring 2017, it has received more than 8,000 preorders in the United States for its homes, which start at $64,000. The first 100 ones will be delivered in January 2018.

(Click through the slideshow)

Article source: http://www.msn.com/en-ca/money/homeandproperty/a-robot-can-print-this-dollar64000-house-in-as-few-as-8-hours-%E2%80%94-take-a-look-inside/ss-BBGNw1y?srcref=rss

Here are the ages you financially peak at everything throughout life

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young woman wealthy happy

Your financial situation is ever-evolving — just like your happiness.

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But similar to your state of mind, your finances are bound to peak at certain times in your life.

To find out what that timeline looks like for the average person, we’ve gathered some research on how Americans spend, save, and earn money.

The graph below pinpoints the age at which you peak at everything in terms of your money.

BI Graphics_the age you peak at everything financially© Provided by Business Insider
BI Graphics_the age you peak at everything financially

Keep reading to learn more about the five financial peaks:

Age 25: You spend the most money you don’t have

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Anyone, regardless of age, can be guilty of overspending. But for the average American 20-something, the propensity to overspend is often greater than any other cohort.

According to data from the Bureau of Labor Statistics, a 25-year-old’s average pre-tax income is $31,000, while their annual spending is around $33,000. That means they’re likely racking up debt — or getting a handout from mom and dad — to cover their expenses.

Living beyond your means is

Article source: http://www.msn.com/en-ca/money/personalfinance/here-are-the-ages-you-financially-peak-at-everything-throughout-life-%E2%80%94-from-salary-to-net-worth/ar-BBGNB2m?srcref=rss

Bank of Canada governor: Bitcoin more akin to gambling than investing

Stephen Poloz wearing a suit and tie© Provided by thecanadianpress.com

Bank of Canada governor Stephen Poloz is sounding the alarm on Bitcoin, calling the purchase of the cryptocurrency “closer to gambling than investing.”

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In a speech at the Canadian Club Toronto on Thursday, the governor said Bitcoin is not a reliable store of value and does not constitute “money.”

He added that buying the cryptocurrency “means buying risk” and urged those flocking to it to “read the fine print.”

“It is a situation which has the ingredients of something that could be a significant disturbance,” Poloz said to reporters after his speech when asked about Bitcoin’s wider ramifications. “I’m hopeful that the system will treat it cautiously from here.”

Poloz’s comments come one day after the chair of the U.S. Federal Reserve Board Janet Yellen called Bitcoin a “highly speculative asset” that “doesn’t constitute legal tender.”

But on Sunday, Cboe Global Markets launched Bitcoin futures and CME Group Inc. says it plans to follow suit on Dec. 17, giving investors more ways to tap the cryptocurrency.

The price of Bitcoin has soared this year, briefly touching US$19,000 earlier this month before slipping to roughly US$16,700 on Thursday late afternoon. At the beginning of the year, one bitcoin was worth roughly US$996.

Poloz said Thursday the Bitcoin price chart “looks like the

Article source: http://www.msn.com/en-ca/money/topstories/bitcoin-more-akin-to-gambling-than-investingpoloz/ar-BBGKoKk?srcref=rss

Canada has a record 361,700 unfilled jobs. Where are they?

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Looking for a job? Try British Columbia.

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The west coast province has Canada’s highest rate of unfilled, available jobs, according to a new survey from the Canadian Federation of Independent Business (CFIB).

In all, there were 60,100 unfilled jobs in B.C. in the third quarter of the year, for a job vacancy rate of 3.4 per cent, the highest in the country. In Canada as a whole, the number of unfilled jobs hit a record high of 361,700, the CFIB said in a report issued this week.

The nationwide job vacancy rate rose to 2.8 per cent, up from 2.4 per cent a year earlier and the highest level since before the financial crisis of 2008-09, the CFIB said.

For those seeking work, this may be as good as it gets.

Canada’s unemployment rate has fallen to 5.9 per cent, the lowest since 2008. The economy added an impressive 390,000 net new jobs over the past year, a 2.1-per-cent increase — faster than population growth.

“Labour shortages are again becoming a major hindrance to businesses across the country, especially small firms,” said CFIB’s chief economist, Ted Mallett.

Watch: The top jobs in Canada for 2017

There were 85,000 unfilled jobs Quebec, where the unemployment rate has fallen to the lowest it’s ever been on

Article source: http://www.msn.com/en-ca/money/topstories/canada-has-a-record-361700-unfilled-jobs-here%E2%80%99s-where-they-are/ar-BBGMNzq?srcref=rss

Bank of Canada increasingly sure economy will need less stimulus

The Bank of Canada is growing increasingly confident that the economy will need less stimulus over time, Governor Stephen Poloz said on Thursday, adding that the economy is in a sweet spot after making “tremendous” progress over the last year.

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In a year-end speech, Poloz said current monetary policy “clearly remains quite stimulative” despite two interest rate hikes earlier in the year, adding that the economy is close to reaching its full potential.

“We are very encouraged by this, and we are growing increasingly confident that the economy will need less monetary stimulus over time,” Poloz said in prepared notes for a speech to the Canadian Club in Toronto.

a man wearing a suit and tie: FILE PHOTO: Bank of Canada Governor Stephen Poloz attends a news conference in Ottawa© REUTERS/Chris Wattie/File Photo
FILE PHOTO: Bank of Canada Governor Stephen Poloz attends a news conference in Ottawa

While a mechanical approach to setting policy would suggest rates should already be higher, the bank still sees signs of ongoing but diminishing slack in the labor market, Poloz said.

Canada’s economy is near capacity and growth is forecast to continue above potential, posing an upside risk to the inflation forecast, he said. At the same time, labor market slack poses a downside risk.

“Given the unusual factors at play,

Article source: http://www.msn.com/en-ca/money/topstories/bank-of-canada-increasingly-sure-economy-will-need-less-stimulus/ar-BBGKtAi?srcref=rss

If you are buying an electric truck in Ontario, you’ll get $75K rebate

a truck is parked on the side of a road: BYD EV Garbage Truck© Provided by CNET
BYD EV Garbage Truck

It seems that “Ice Road Truckers” will look cooler but sound a lot less dramatic in the future, thanks to electric semis.

Canada’s most populated province announced that it will offer purchasers of electric semi trucks a rebate on 60 percent of their purchase price up to CA$75,000 as part of the new Green Commercial Vehicle Program.

Since Tesla’s debut of its fully electric semi truck in November, the company has received hundreds of orders from large companies here in the US. This Canadian incentive plan could see many more electric semis, including ones from Chinese company BYD, convoying across the frozen North.

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BYD is set to begin producing commercial EVs in Canada.

Speaking of BYD, the Warren Buffett-backed vehicle maker is set to open its first North American assembly facility in Canada, citing increased demand for battery electric commercial vehicles. While the BYD trucks will undoubtedly lack the flair of the Tesla semi, it will be interesting to see how they compare on a functional level, particularly in the severe winter weather conditions that are all too common in Canada.

What also remains to be seen is how heavily the Canadian government is willing to invest in the kind of fast-charging infrastructure that these vehicles will require.

Article source: http://www.msn.com/en-ca/money/companies/electric-truck-buyers-in-ontario-to-get-cadollar75000-rebate/ar-BBGKQtS?srcref=rss

Cineplex adds $1 charge at Star Wars

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TORONTO – Cineplex Inc. is giving Star Wars fans a surprise twist at the box office by charging an extra dollar for assigned seating at some showings.

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The country’s biggest exhibitor has tacked on a surcharge at select regular screenings of “Star Wars: The Last Jedi” across Canada in hopes moviegoers will be willing to pay more for not waiting in line.

It’s a move the company says makes it convenient when a screening is sold out, which often leaves latecomers hunting for empty seats.

While reserved seating isn’t entirely new at Cineplex, the cost has usually been built into ticket prices for the company’s premium Imax, VIP and UltraAVX theatres. The exhibitor also experimented with charging an extra $2 for “prime seats” at the centre of a few of its busier theatres.

But it has not previously rolled out the concept at what it calls “regular” screenings — movies shown in traditional auditoriums without the additional costs associated with 3D or a larger screen.

With “Star Wars: The Last Jedi” likely to be the biggest film of the year, Cineplex wanted to gauge how audiences reacted to the concept on a wider scale. The company says about 20 per cent of its Canadian locations are testing the $1 fee

Article source: http://www.msn.com/en-ca/money/topstories/cineplex-adds-dollar1-charge-at-star-wars/ar-BBGKrqh?srcref=rss

11 things never to buy at IKEA

IKEA’s kitchen section includes many single-task utensils, like egg slicers and potato presses, that probably won’t get much use. Unless you’re sure you’ll rely on the utensil regularly, it’s best to spend your money on high-quality multitaskers instead.

(Click ahead)

Article source: http://www.msn.com/en-ca/money/spendingandborrowing/11-things-never-to-buy-at-ikea/ss-BBGLPg9?srcref=rss

Phoenix pay system leaves worker struggling to pay bills

Implemented in early 2016, the new pay system has generated 551,000 outstanding claims.© Cory Correia/CBC News
Implemented in early 2016, the new pay system has generated 551,000 outstanding claims.

As Christmas nears, stress is building and unpaid bills are piling up for Brian Wilson, a corrections worker in Truro, N.S.

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He hasn’t been paid in a month. 

Wilson works at the Nova Institution for Women and is paid through the federal government’s Phoenix pay system. He blames the problem-plagued system for his lack of a paycheque. 

“It’s only gotten worse in the year and a half or two years it’s been in there. It’s just snowballing,” Wilson told the CBC’s Maritime Noon. 

Canada’s auditor general said the pay system has left more than 150,000 government workers either underpaid, overpaid or not paid at all.

Wilson’s paydays started disappearing after he opened a new bank account a little more than a month ago. He asked for his pay to be deposited in the new account. Wilson kept his old account open just in case there was a mix-up. 

‘Constant worry, stress’

When payday came, the money wasn’t deposited in either account. Wilson called his bank and the centre that handles his pay, but no one could find his money. After a month of calling, he still didn’t have any answers — or his pay. 

“I have no ambition to

Article source: http://www.msn.com/en-ca/money/topstories/phoenix-pay-system-leaves-ns-worker-struggling-to-pay-bills/ar-BBGKMCf?srcref=rss