The Past Week’s Favourite Reads — July 27 – August 2, 2020

Five key personal finance lessons we should be learning from this crisis – Financial Post, July 21, 2020
https://financialpost.com/personal-finance/five-key-personal-finance-lessons-we-should-be-learning-from-crisis/wcm/c0fef2b1-ff93-4ea4-a537-82e86faea379/
Jason Heath covers what he considers “five key lessons that have been reinforced by the pandemic and that can still help Canadians navigate the unknowns to come.” These lessons are really applicable for any time in life.

Here’s a way Canadians with RRSP savings can get the most out of their CPP benefits – Globe and Mail, July 29, 2020
https://www.theglobeandmail.com/investing/personal-finance/retirement/article-heres-a-way-canadians-with-rrsp-savings-can-get-the-most-out-of-their/
Bonnie-Jeanne MacDonald states that”Canadians with RRSP savings that they intend to spend in retirement are missing out on a great financial strategy: using some of those savings as an income bridge to delay their Canada Pension Plan (CPP) benefits.” We had seriously considered this option.

Left behind by the market rally? Banks top this list of 10 dividend stocks that could still be a bargain – Globe and Mail, July 28, 2020
https://www.theglobeandmail.com/investing/markets/inside-the-market/article-feel-left-behind-by-the-market-rally-banks-dominate-this-list-of/
Rob Carrick chats up some dividend stocks that are probably good buys right now. This will be of interest to anyone who is into “income investing”.

How the pandemic could cost you some of your CPP retirement benefits – Globe and Mail, July 27, 2020
https://www.theglobeandmail.com/investing/personal-finance/retirement/article-how-the-pandemic-could-cost-you-some-of-your-cpp-retirement-benefits/
Rob Carrick points out that anyone who has lost their job during the pandemic is no longer contributing to CPP, and this may result in reduced payouts for them in retirement. He may be overstating the impact, but this article is a worthwhile read.

Government extends 2019 tax payment deadline to September – abc.ca, July 27, 2020
https://www.cbc.ca/news/business/cra-tax-payment-1.5664805
An article from the Canadian Press. Folks who owed income tax for the 2019 taxation year previously had until September 1 to pay. The government has just announced that everyone now has until September 30.