Norma's collection of stuffNZKoru

Three top picks from the Web

1. Canadian tax and financial information taxtips.ca

I have watched this amazing site grow over the years. It is written by a couple, who became financially free in 30 years. Starting as a site to help with Canadian taxes, it has evolved into a comprehensive guide on everything financial as it applies to Canadians. (They also have a USA site, though not as far developed.)

There are comprehensive tables on Canadian tax tables and deductions, which I have found updated before the CRA updates. Many sections help groups of people find all the deductions that apply. There is a large collection of calculators, good discussions of Canadian registered plans (TFSA, RESP, RRSP etc.), and a huge amount of simply good financial advice. Fortunately, the site is searchable.

Read a page a day and you will be financially literate in a year or so!

My only disagreement is with the page on Wills - I believe that everyone should pay a lawyer (notary in Quebec) to make a Will, and if possible choose a lawyer who specialises in Estates.

My caveat - be careful to know when you have been sent to an advertiser's page and when you are reading their own wisdoms.

2. Financial Wisdom Forum

Financial Wisdom Forum has two components:

A. a forum where users can pose questions and discuss financial topics. The first topic in the forum, "Financial Plannning" is close to the book that I did not write. There is lots of good stuff here. Not everything is cut and dried so it is good to read, and even join in, the debates,

B. The founders of the Forum have summarised the conclusions of the Forum in the Canadian financial Wiki - a knowledge base built primarily based on knowledge built up in the forum.

Again, read a page a day and you will be really knowledgable in a year or so.

Very active in the forum is the owner of libra investment management - his site gives good advice on the need for and making of an Investment Policy Statement.

3. Couch Potato

My research has totally convinced me that passive investment is the way to go. For investment portfolio building, Canadians need to look no further than The Canadian Couch Potato

Should you have any doubts about passive investing, please view this movie from the UK (Canada's financial industry is very similar to that of the UK, if not more hostile).