The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.
Ten terrible money tips
A list of things you should never do, including draining your retirements savings to pay bills and borrowing the maximum on student loans. This is a U.S. list – you’ll see a reference to 401Ks instead of RRSPs – but it’s still worth reading because it offers some useful myth busting.
TFSA troubles, Round Two
Tens of thousands of people are still being penalized by the Canada Revenue Agency for breaking the contribution rules for tax-free savings accounts. Here’s what you need to know to avoid any problems with CRA: If you make your maximum contribution and then take some money out in the same year, you have to wait until the next calendar year to replace it.
The road to recovery
This chart documents how global stock markets have performed since the beginning of the global financial crisis back in 2007. Mexico has done best, Greece has done worst and Canada has done better than most.
King of conmen
Meet “Count” Victor Lustig, considered once of the smoothest swindlers of all time and creator of the “money box” scam, in which supposedly savvy people paid for a box that created $100 bills.