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February 08, 2010

Leafs continue off-ice dominance, become tops in smartphone app world

It’s remarkable how mediocrity – literally, decades of mediocrity – is so often rewarded.

No, you don’t need me to further chastise the Toronto Maple Leafs. With no Cup since 1967, no playoff run since 2004 and a propensity to price out its real fans/give everybody short of ACC janitors a no-trade clause, the team’s ongoing eulogy writes itself.

But, my goodness, are the Leafs successful when it comes to dollars and cents. Despite the news preceding their current last-place division standing, the Leafs easily ranked as 2009’s most valuable franchise in the NHL for the fourth year in a row.

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Still throwing your money down the drain?

It's hard enough to earn, so when you've got some cash it makes no sense to fritter it away.

Ever wonder how much money you could have saved if you had kept it in your wallet instead of blowing it on some tchatchke that started to gather dust far sooner than you ever expected?

If you want to feel a bit better about your situation, check out Spendster.

Run by the National Endowment for Financial Education, it’s a fun place to share videos and stories about some of the really stupid purchases we’ve all made.

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February 05, 2010

Debunking popular retirement myths

The idea of retirement strikes us all differently.

And timing, of course, is everything. There are the Barry Sanders’ (who went too soon), the Muhammad Ali’s (who went too late) and the Steven Segal’s (who should probably go – like … now).

But all that considered, there’s no true answer to when you should give up work. The notion you’re to retire by age X is just a myth; everyone’s job/lifestyle circumstances are not alike.

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Free Burger King breakfast sandwich Friday morning

Hungry this morning?

If you happen to see this on the way to work – or, if you’re already there and can slip out for a quick snack – Burger King is the place to be right now.

Yes, Burger King. The fast food chain is offering a FREE breakfast sandwich this morning between 6:30 and 10:30, no purchase required.

Check out a pic of the sandwich here (scroll down a little), but it looks pretty great. Egg. Bacon. Cheese. Croissant. Good.

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Who's going to get all those RRSP assets?

In the rush to first open that RRSP, you probably signed reams of documents. But, if your circumstances have changed at all, now might be a good time to review just what you signed -- particularly when it comes to your beneficiary.

If you're married or living in a common-law relationship, you're probably better off to name your spouse or partner as the beneficiary. This way, your RRSP assets can be rolled over to his or her plan at your death, allowing you to avoid paying tax until the surviving spouse is faced with his or her own final tax return.

Reassess this in the event of divorce or remarriage, however. There have been cases where an RRSP went to a former spouse after the ex’s death.

Not only would the former spouse inherit, but the estate might be liable for the taxes owed as the transaction would no longer qualify as a tax-free rollover. If no beneficiary is chosen at all, the RRSP typically becomes estate property, and taxes will take a big bite.

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February 04, 2010

Super Bowl stats from a personal-finance view

The average salary cost per pound of the Saints' starting defensive line and other fun facts.

How much has the price of Super Bowl tickets appreciated since that very first one (Packers vs. Chiefs) back in 1967? If you guessed 22,225%, you’re right. In case you’re curious, that's a compound annualized growth rate of 13.4%.

Yes, we’ve been sucked into the hype that surrounds the big game (even though our beloved six-time world champion Steelers are sitting this one out). A fun article at CBS MoneyWatch helped pull us back in. “Super Bowl XLI: Adding up the numbers” examines all sorts of interesting stats.

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Has the recession made you a haggler?

Aside from skirting things like this, the best part about visiting the Caribbean is the chance to haggle.

Because, bartering is the traveller’s currency in many ways. We flock to negotiate prices in countries that rely on tourist dollars because, frankly, it’s the only time North American consumers have any real leverage.

Yet could a crippling recession change shopping traditions here at home? With retail tags all but set in stone, it’s not the custom to bargain in Canada … but, with a bum economy still looming, why shouldn’t it be?

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February 03, 2010

RRSP contributions continue to plunge: Report

Having trouble coming up with an RRSP contribution this year? Well, you’re not alone. 

Citing economic conditions as the main reason, a recent Royal Bank survey suggests that just 35 per cent of Canadians have contributed to or plan to contribute to an RRSP this year – the lowest percentage of contributors since 1996.

And this isn’t likely to change anytime soon, according to a recent RBC Economics study which predicts that the amount of money going into RRSPs is likely to decline sharply over the next 10 years.  

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February 02, 2010

How to save on Valentine's Day roses

It takes the loss of about $100 for a man to finally stop and say, “Good Lord, what is the deal with roses, anyway?”

Chances are that lightning bolt goes off in the days leading up to February 14th, the only time of the year most guys have a reason to buy them. Unless, as Jay Leno might say, you’re Tiger Woods. (Click here now.)

They say the rose has long been a symbol for beauty and romance. The ancient Greeks and Romans identified the flower with Aphrodite and Venus, the goddesses of love who no doubt insisted a dozen-piece floral arrangement should cost at least three figures.

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February 01, 2010

London to power city with energy-saving street slabs for Olympics

Last July, I bookmarked this article that was forwarded to me.

It seemed pretty cool; the Star was reporting on Tokyo’s use of something called piezoelectric technology to power two of their heavily-populated train stations.

The method appeared neat, but maybe too futuristic. At the time, critics slammed the technique – which uses specially-designed floor mats to capture energy expended by pedestrian foot traffic – as either too inefficient or not cost-effective enough.

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Gordon PowersGordon Powers

A long-time fund company executive, Gordon Powers now heads up the Affinity Group, a financial services consulting firm. Gordon was a personal finance columnist for the Globe & Mail for many years, has taught retirement planning...

James HaversJames Havers

James is the senior editor of MSN Money living in Toronto. He has worked for the Nikkei Shimbun (Tokyo), canoe.ca, AOL.ca, Canadian Business and other publications. Havers turned to journalism after teaching overseas.

Jason BucklandJason Buckland

The modern-day MC Hammer of money, Jason can often be seen spending cash that isn’t his with the efficiency of a Wilt Chamberlain first date. After cutting his teeth as a reporter for the Toronto Sun, he joined the MSN Money team with...