The annual contribution limit will drop from $10,000 to $5,500 starting next year.Tony Ianiro
The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.
Ottawa's TFSA changes are historic
This Maclean's article says the decline in the TFSA contribution limit to $5,500 next year from $10,000 this year is particularly noteworthy. In the past 58 years, it's the first reduction in the annual contribution room of a tax-deferred, registered savings program. Some very good analysis here on how TFSAs were framed when they were first introduced – as an RRSP for everything besides retirement – and how they're being used now as a way to shelter investments from tax.
For couples that fight over the thermostat
Suggestions for making your house warmer, without jacking up the heat.
How millennials can take control of their finances
Some good thoughts here, particularly about controlling spending and getting a start on retirement saving. Note that this is U.S. content – there's a list of the best chequing accounts for students that isn't relevant to Canadians. I'm working on a column about the best chequing accounts for Canadian millennials. Stay tuned.
One city's answer to high rents
Rents are high in London, and that explains an experiment for millennials called "co-living." Residents of a high rise that will open next year will have their own sleeping space and bathroom, and in some cases share a kitchen, library and other amenities.
More money
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Rob Carrick