Today is a very special day, Feb. 29th only comes around once every 4 years. In fact, this may be a very special year…

Theres an old saying “When the United States sneezes, Canada catches a cold”. Our two countries are so intertwined and rely on each other, in good and bad times. I want the best for all the countries of the world but right now in particular my brother country the US is hurting, its dollar is weak, the sub prime mortgage disaster, the courageous men and women dying overseas in war. There seems to be no happy ending in sight…I do hope everything will be ok.

However, a collosus change is about to come to the US, its picking up steam and its momuntum appears to be unstoppable. The presidential candidate Barack Obama has captivated me with his vision and his hope for a better tomorrow. If elected he would be the first Black American President. He is a prime example of hope, courage and freedom. He confirmed that you should always pursue your dreams, you can overcome any obstacle in your way, dont ever let anyone tell you, you cant make it, Barack Obama you have truly inspired me.

Im sure everyone has now seen the Yes We Can video by will.i.am which has over 9 million views in total on Youtube, today the sequel has been released… check it out.

We Are the Ones.

Yes We Can.

On my rainy drive home tonight, I was concerned when I heard news that it was surveyed that 50% of Canadians will not be contributing to their RRSP’s this year. I believe the common fear is that there is going to be a recession in the US and that stocks are losing value, which is true. However, this is actually a good thing, it means we are able to purchase RRSP Mutual Fund units at a much lower price.

Earlier this morning I waited outside of my CIBC until it opened and borrowed 3 grand to contribute to my RRSP. Now why would I put so much money into a retirement savings plan?  RRSP’s is the best way for taxpayers to defer tax. Let me illustrate a quick example, if you contributed $10,000 and then borrowed $6,667, so now you have $16,667 and your marginal tax rate is 40%, your tax return for your contributions will be 6,667!

Heres a list of the 2007 Ontario Marginal Tax rates:

• first $35,488 21.05%
• over $35,488 up to $37,178 24.15%
• over $37,178 up to $62,485 31.15%
• over $62,485 up to $70,976 32.98%
• over $70,976 up to $73,625 35.39%
• over $73,625 up to $74,357 39,41%
• over $74,357 up to $120,887 43.41%
• over $120,887 46.41%

The deadline to contribute to your RRSP’s is tomorrow, I urge everyone to take advantage of this great tax brake.

Hello and welcome to my blog!

I hope to share my opinions about a wide range of interests. I enjoy everything from the latest gadgets to road trips to Flex developement to even making money online.  Cheers!