Triple-digit oil, RRSPs and retirement angst.
- The Globe and Mail. Skyrocketing oil puts recovery at risk. “Oil has cracked $100 (U.S.) a barrel for the first time since the global economic implosion in 2008, sparking new fear that the crucial commodity will undercut the recovery around the world.”
- The Globe and Mail. Why Saudi Arabia can no longer temper oil prices. “What’s easy to lose sight of in the chaos sweeping through the Middle East is where oil prices were trading before it began. The Brent futures contract, the world’s new benchmark oil price, had already broken $100 (U.S.) a barrel before protesters in Cairo started sweeping into Tahrir Square and demanding Hosni Mubarak’s head.”
- The Wall Street Journal. Saudis stand ready to fill oil gap. “Saudi Arabia said it is in “active talks” with European oil companies to make up the shortfall in Libyan oil production that has helped push oil prices towards $120 a barrel and raised fears for the global economic recovery.”
- Bloomberg. Calm in Saudi Arabia speaks volumes. “The contrast between Libya and Saudi Arabia on Feb. 23 couldn’t have been more striking.”
- CBC. Gas prices soar amid Libya unrest. “Gasoline prices in various Canadian cities jumped overnight after oil prices hit a 2½-year peak amid unrest in Libya.”
- Investment Postcards from Cape Town (video). Pimco’s Mohamed El-Erian on Libya and more. “Mohamed El-Erian, CEO and co-CIO of Pimco, appeared on Bloomberg yesterday to discuss the unrest in the Middle East.”
- The Curious Capitalist. Will $100 oil kill the recovery? “Here’s something you never hear: Oil caused the financial crisis.”
- The Economist. Oil pressure rising. “The world is badly placed to cope with another oil crisis.”
- Reuters. Canada seen back on rate-hike path in May. “The Bank of Canada’s first interest rate hike of 2011 is widely expected in May as a pickup in the country’s resource-rich economy offsets the drag of a strong currency and risk from Libya’s revolt and other global events.”
- Moneyville. When should you apply for CPP? “If you and your employer paid into the Canada Pension Plan, you can get a retirement pension as early as 60 years of age or as late as 70.”
- Retire Happy Blog. Practical tips for investing your RRSPs. “Investing your RRSPs is probably the hardest decision for most people. There is no shortage of choices.”
- Canadian Business. RRSP roundup. “Human nature being what it is, the RRSP decision is often left to the last week (deadline is March 1). To help last-minute types get up to speed quickly, here is a collection of links to some noteworthy media/blog articles on RRSPs.”
- National Post. Tax-free growth of RRSPs as important as tax refunds: CIBC. “In the report, entitled Just do it: The case for tax-free investing, Golombek argues that the perception that RRSPs are merely ‘tax deferred’ is ‘simply incorrect.’”
- National Post. America’s corporate tax nightmare. “In his State of the Union address and in comments since, U.S. President Barack Obama has demonstrated a remarkable ability to talk around the corporate tax policy nightmare taking shape across America.”
- The New York Times. Does the U.S. really have a fiscal crisis? “The United States faces some serious medium-term fiscal issues, but by any standard measure it does not face an immediate fiscal crisis.”
- Generation X Finance. There’s more to risk than market risk. “Investors generally think of risk as simply the chance of losing part or all of their investment. While this is certainly one type of risk when it comes to investing, it is definitely not the only type risk.”
- Canadian Couch Potato. Why rebalance your portfolio? “An important part of the indexing strategy is that you occasionally rebalance your portfolio back to its target asset allocation.”
- Canadian Finance Blog. 5 common mistakes people make when trying to get out of debt. “Are you trying to get out of debt but having trouble paying down your credit card bills?”
- Money Smarts. The perfect retirement myth. “There is a lot of retirement angst going around.”
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