Weekend reading: last minute tax tips, smart investing principles, and more

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Hi and welcome to weekend reading, where we share some of the best posts we read over the past week. We hope you enjoy them as much as we did. If you haven’t already, please consider following us on TwitterFacebook, and Google+, where we share the latest in personal finance, debt, retirement, insurance, tax and investments.

In case you missed it, the filing deadline for the 2014 tax return has been extended by 5 days to May 5, due to a communication error. While we may all enjoy a few more days to prepare the return, CRA may have lost millions in interest due to this error.

Insurance

Here at AAFS Insurance, we looked at the renewal of disability insurance policies and whether or not premium was guaranteed. While the top policies for consumers protect them at the time of renewal with guaranteed premium, other policies favour the insurance company by allowing them to raise the cost or cancel the policy for an entire class of individuals.

LSM Insurance has an excellent infographic comparing GICs and insured annuities. The comparison shows that at a high tax bracket, an insured annuity will yield a larger after-tax income than a GIC, while providing the same benefits to the estate.

Personal Finance

Retirement? A recent poll suggests that the majority of Canadians expect to work reduced hours or not never stop working at all. Will the new increased TFSA contribution limit of $10,000 help to change this?

For those of you taking advantage of the tax filing deadline extension, Dan at Our Big Fat Wallet has some last minute tax tips to maximize your refund.

Investments

Mark at My Own Advisor lists seven smart investing principles for everyone. By following them, you have a much higher chance of success in investing in the stock market.

The Steadyhand blog shares their views on borrowing to invest. While it’s a strategy often promoted by financial advisors, they believe that leveraging should be reserved for those who need a short-term RRSP loan and sophisticated investors who won’t abandon the strategy when the market goes south.

Michael James on Money explains why he isn’t strongly for or against the TFSA limit increase announced in the latest federal budget.

We hope you enjoy the reads this weekend and be sure to check back next week for a new post. Subscribe to our weekly newsletter on the right side of the page so you don’t miss a single post.