posted from http://feedproxy.google.com/~r/mrsjanuary/~3/NUfH8NVyhEA/

2019. It’s hard to believe that it’s been 10 years since the Canadian government launched the Tax Free Savings Account, creating a new way for Canadians to save money and avoid paying taxes on the growth of that money.

If you ask me, TFSAs are an investment vehicle that all Canadian investors can benefit from. But while the plan appears straightforward on the surface, there are a few things you’ll want to be aware of, in order to get the most from your TFSA investment account.

In this article, we’ll take a look at three important aspects of the TFSA: contribution limits, TFSA withdrawals, and the treatment of capital growth on those withdrawals. If you’re looking for a more comprehensive guide to TFSA investing, including where to invest your TFSA, this article will give you everything you need to know. For now, let’s take a closer look at these three components.

Understanding TFSA Contribution Limits

It’s important to know how TFSA contribution limits work. Not only will it help you avoid the costly penalties associated with TFSA overcontributions, knowing your own personal contribution limits, both annual and lifetime, will enable you to maximize tax savings and investment growth. This includes knowing how to properly replace any withdrawals you make from the TFSA, something we’ll get into in more detail later.

You become eligible to open a TFSA in the year in which you turn 18, providing you hold a valid SIN number. For 2019, the annual contribution limit is $6,000, and the maximum lifetime contribution room, dating back to 2009, is now $63,500.

In other words, as long as you were 18 or over in 2009, and had never contributed to a TFSA, you could deposit up to that amount ($63,500) this year. If you weren’t, start counting from the year you turned 18. Be careful not to exceed your contribution room. Overcontributions are subject to a penalty of 1% per month until the plan balance is brought within the allowable limit.

A Look at TFSA Contribution Room, by Year

Here’s a look at the yearly TFSA contribution limits, going back to 2009, when the TFSA was first introduced. As I mentioned, the contribution room begins to accumulate in the year you turn 18. For example, someone who turned 18 in 2013, would have a lifetime contribution limit of $43,500. A great thing about TFSAs is that you don’t need to have earned income to accumulate contribution room. Unlike RRSPs, all Canadian adults have the same annual limits, regardless of income or employment status.

Annual TFSA Contribution Limits, 2009-2019.

2009 – $5,000

2010 – 5,000

2011 – 5,000

2012 – 5,000

2013 – 5,500

2014 – 5,500

2015 – 10,000

2016 – 5,500

2017 – 5,500

2018 – 5,500

2019 – 6,000

Total Lifetime: $63,500

* Annual TFSA limits are indexed to inflation, and rounded to the nearest $500.

Understanding How TFSA Withdrawals Work

In general, TFSAs offer more flexibility than other tax-sheltered investments, such as RRSPs, when funds are withdrawn. Unlike an RRSP, money invested in a TFSA is completely tax-free. That means that not only will you not pay tax on the interest you earn, but you won’t be required to report withdrawals as earned income at tax time. Because TFSA withdrawals aren’t considered earned income, they won’t impact other government benefits, such as Old Age Security (OAS) benefits, which are tied to your income level.

Another benefit to TFSA withdrawals is that money removed from a TFSA doesn’t take away the contribution room. In other words, any withdrawals you make in the current calendar year can be re-contributed as of January 1st, of the next calendar year.

To illustrate this, let’s say you turned 18 in 2018, and on June 30th of that year, made a $5500 contribution to your TFSA. If you withdrew the $5,500 on September 30th, you would not be eligible to make another contribution in 2018. However, effective Jan. 1, 2019, your contribution room would be reset to $11,500. This would include the $6000 for 2020, and the $5,500 that was withdrawn on September 30th, 2018.

Investment Gains and Replacing TFSA Withdrawals

In the past, I’ve written about the TFSA Withdrawal Rules, and provided some examples of how they work. But I often receive questions from readers asking how investment gains inside their TFSA will affect their TFSA contribution room. Here are a couple of scenarios I was presented with recently:

“Let’s say I contributed $5,500 in 2017, another $5,500 in 2018, and $6,000 in 2019, for a total of $17,000, then somehow managed to grow this amount to $30,000, with strong market returns. If I take out the $30,000 at the end of this year (2019), is it true that as of January 2020, I can put back $30,000, plus my $6000 room for 2020, for a total of $36,000.00?”

Another reader had a similar question:

“…I am also curious about my investment gains, and how they impact my contribution room. For example, I contributed the max $11,000 over my first two years, but managed to double it through investing. If I withdraw $22,000 this year, does that mean I can contribute back the $22,000 next year, in addition to next year’s contribution room? Someone told me that even if the max contribution over the next 5yrs is $30,000, if you build the account to $100K then that becomes the real limit of the account. In other words, if I withdraw $100K in year 6, I can contribute back $106K in year 7. Does this make sense? “

In both of these scenarios, the answer is yes. To make this clear, it’s best to refer to the contribution guide provided by the Canada Revenue Agency (CRA).

According to the CRA, the Tax Free Savings Account limit is made up of:

• your TFSA dollar limit ($5,000 per year plus indexation, if applicable);
• any unused TFSA contribution room in the previous year; and
• any withdrawals made from the TFSA in the previous year, excluding qualifying transfers.

Recapping Our Reader Scenarios

Using the CRA guidelines, let’s recap the two reader scenarios above, and look at a third scenario, involving an investment loss, and its subsequent impact on the contribution room.

Scenarios #1 & 2: Investment Gains

Taking our first reader’s scenario into account, their contribution room calculation for 2020 would look like this:

2020 TFSA Limit: . . . . . . . . $ 6000

(assumed limit, based on the fact that the limit increased in 2019, as per inflation index.)

Unused Contribution Room from previous years: . . + $ 0

(Note that unused contribution room can be negative if you over-contributed in previous years.)

2019 Withdrawals: . . . . . . . + $30,000

2020 Contribution Room: . . . . . = $36,000

In terms of the second reader’s question, he is correct. If you contributed a total of $11,000 in the first two years (2016 and 2017) and by tremendous skill or luck doubled that money, you could withdraw the $22,000 at the end of 2018, and contribute back the $22,000 plus your $6000 this year (2019). He is also correct, in theory, that if you grew the account to $100 000 in 5 years, you could take that $100K out at the end of the 5 years and recontribute it starting the following January.

I qualified this explanation with “in theory” because this scenario assumes that there were no other withdrawals and no over-contributions. Also, it may not be entirely correct to say that your contribution limit has permanently grown to $100 000 because you could sustain investment losses down the road that would reduce the size of the TFSA.

Let’s look at an example that includes some investment losses:

Scenario #2: Investment Losses

Suppose, as in Scenario #1, that you had contributed $17,000 over the first 3 years (2017, 2018, and 2019). However, instead of almost doubling the amount to $30,000, as in our extremely optimistic first case study, you sustained a substantial 33% loss.

Ouch. Your TFSA would then be worth about $11,400 instead of $17,000. If you withdrew the entire $11,400 in 2019, here’s what your 2020 contribution limit calculation would look like:

2020 TFSA Limit:. . . . . . . . . $6000

Unused Contribution Room from previous years: + $ 0

2019 Withdrawals: . . . . . . . + $11,400

2020 Total Contribution Room: . . . . . = $17,400

Note that this contribution room limit is lower than what your limit would have been if you had not sustained any losses. An investor who had contributed the maximum $17,000 in their first three years and (in theory) incurred neither gains losses, would have $23,000 in total contribution room for 2020.

I should note that the annual Tax Free Savings Account limit is indexed based on the inflation rate, with the indexed amount rounded to the nearest $500. For example, if we assume that the inflation rate is 2% for 2019 to 2021, then the TFSA contribution limit would be $6,000 for 2019, 2020, and 2021, increasing to $6,500 for 2022.

In the above scenarios, I’m assuming that the contribution limit for 2020 will remain at $6,000, as it was just indexed for inflation in 2019 when it increased from $5,500 to $6000.

Keeping Track of Your TFSA Contribution Room

The examples I provided above are very simple. Your personal scenario may be more complicated if you have done any transfers between multiple TFSA accounts, or over-contributed at any time. If you really want to know what your contribution room is a good place to start is to do the math by following the CRA formula.

Unfortunately, your financial institution is unable to keep track on your behalf, as they often don’t have the necessary information at your disposal. For example, you can hold multiple TFSA accounts at various financial institutions, with each one affecting your contribution room.

You can also get TFSA contribution room information from your My Account page on the CRA website or from the CRA’s T.I.P.S. telephone service at 1-800-267-6999. That’s because the CRA determines the TFSA contribution room for all eligible Canadians, by tracking information provided by you, as well as your financial institution. As a result, your TFSA contribution room will be shown on your income tax Notice Of Assessment (NOA).

Your Guide to TFSA Contribution Room, Withdrawals, and Investment Gains appeared first on MapleMoney.

posted from https://www.lifehack.org/845546/failed-marriage

Nobody says "I do" hoping that their marriage will fail. Yet, even with only seven out of every 1,000 couples walking down the aisle,((OECD - Social Policy Division - Directorate of Employment, Labour and Social Affairs: Marriage and Divorce Rate)) many marriages are still ending in divorce. There are many signs that a relationship is on its way out, people just don’t catch them fast enough to save their marriages. This is bad news since research reveals what everyone who has been through a divorce already knows - divorce triggers psychological distress and a decline in life satisfaction.((J Fam Psychol: Breaking Up is Hard to do: The Impact of Unmarried Relationship Dissolution on Mental Health and Life Satisfaction)) What are the signs that your relationship is unhappy? What can you do about a failed marriage? Is there anything you can learn from it? You will learn all of these in this article.

Signs of a Failing Marriage

You don't have to experience a divorce to learn how to save your marriage. If you feel that you need marriage advice, look no further. Here are 14 signs of a failing marriage:

• You feel annoyed to be in the same room together.
• You're always arguing.
• You fantasize about being without your partner.
• You often consider cheating on your spouse.
• Conversations are awkward or overly formal.
• You don't enjoy spending time together.
• You're not happy, ever.
• There is constant infidelity in the relationship.
• You are always blaming one another for your problems.
• You no longer communicate together.
• Your sex life is dismal.
• Your partner is verbally or physically abusive.
• There is substance abuse in the marriage.
• You're only staying together for the kids.

How to Cope with a Failing Marriage

If any of the above sounds like your relationship, your marriage is definitely on the rocks. Seek marriage counseling, open up the lines of communication, and commit to a weekly date night together. This has been proven to improve communication, intimacy, and reduce marital boredom. Couples who have a regular date night are also 20 percent less likely to get divorced.((W. Bradford Wilcox & Jeffrey Drew : The Date Night Opportunity)) The relationship advice below will be useful for you too:

• What to Do If You Find Yourself in an Unhappy Marriage
• How to Save a Marriage That Is Falling Apart
• Everything You Need to Know Before Visiting a Marriage Counselor

What If Your Marriage Failed Already? 8 Lessons to Learn

Of course, it's always good if you can save a marriage that is falling apart. But even if you failed to save it, there're still lessons to learn from it:

1. Phones Can be a Killer

One thing that divorce will teach you is the importance of putting your phone away. Did you know that in a survey on phone use, 1 in 10 couples admitted to checking their smart device during sex?((Microsoft Word: The Attachment Problem: Cellphone Use In America)) A further 85 percent of surveyed smartphone users say they use their device while speaking to friends and family.((Bank My Cell: Smartphone Addiction Facts & Phone Usage Statistics)) Research shows that multitaskers (such as those who used their phones while watching television or trying to have a personal conversation) are less empathetic. MRI scans of their brains reveal less brain density in the anterior cingulate cortex, which controls cognitive and emotional control, as well as empathy.((EurekAlert: Brain scans reveal 'gray matter' differences in media multitaskers)) People who snub their partner to play on their phone (referred to as "phubbing" or "phone snubbing") are at risk of divorce.((Personality and Individual Differences: Partner phubbing and depression among married Chinese adults: The roles of relationship satisfaction and relationship length)) Phubbing as a term was coined as a part of campaign by Macquarie Dictionary, where phubbing is described as a habit of choosing to give more attention to mobile phone as opposed to the spouse or a friend.((Macquarie Dictionary: Ever been phubbed?)) Studies show that phubbing directly contributes to a decline in marital satisfaction and an increase in depression. This behavior of snubbing someone over their mobile phone is the root cause of several relationship problems. The phubber makes the phubbee (victim of phubbing) feel ignored, disrespected and experience a stinging sense of relationship dissatisfaction and even hatred.

2. Gratitude Is Necessary

Studies reveal that partners who express gratitude for one another have greater relationship satisfaction.((Psychological Assessment: Personality strengths in romantic relationships: Measuring perceptions of benefits and costs and their impact on personal and relational well-being.)) They also enjoy better communication, commitment, relationship investment, intimacy, support, and self-expansion. Gratitude in relationships promotes relationship satisfaction by prompting the partner who receives gratitude from one partner to replicate the gesture of generosity by signalling gratitude to their partner, who initiated this expression of gratitude. Expressing gratitude also prompts a sense of responsiveness and reciprocal behavior, where both partners respond to each other’s needs, willingly.

3. Communication Is Really Important

When soliciting marriage advice, we often hear that communication is the foundation of a great relationship and this is true. Your level of communication determines how well you and your spouse will be able to resolve arguments, how deep your marital friendship is, and how vulnerable you are willing to be with one another. Studies also prove that great communication leads to great sex and increased orgasm frequency in women.((Journal of Martial and Family Therapy: The Role of Sexual Communication in Couples’ Sexual Outcomes: A Dyadic Path Analysis)) In your next relationship, find someone who isn't afraid to give you their undivided attention, listens to you without interrupting, looks for ways to solve problems as a team, and loves to talk to you about their day.

4. Your Happiness Matters

Focusing on your happiness or self-compassion is not shallow or selfish. Of course, when you love someone, you want to spoil them emotionally and physically. You want to lavish them with attention, affection, and respect. These things come naturally. But until this happens, you must look out for your own interests. Find someone who gets you, who respects you, and who makes you feel special. Find someone who makes you laugh. Studies show that couples who laugh together are more likely to stay together.((Evolutionary Psychology: Sexual Selection and Humor in Courtship: A Case for Warmth and Extroversion)) They also feel more supported and satisfied in their relationship.((Laura E. Kurtz & Sara B. Algoe: Putting laughter in context: Shared laughter as behavioral indicator of relationship well‐being)) However, it is important to note that you do not force laughter, and create more chances for spontaneous and shared laughter. Letting loose, revisiting places where you share laughter, playing fun couple games and creating inside jokes are few of the things to help you both break into spontaneous laughter and improve your relationship.

5. Know Your Deal Breakers

If you have experienced a failed marriage, odds are you know the exact qualities that you don't want out of a future partner. It is good to know what your deal breakers are. Instead of going into a relationship thinking you can change the habits that you don't like, find someone who shares your passions. For example, are you a spiritual person who wishes to be with someone who shares their beliefs? If so, don't settle. Studies show that couples who share spirituality are more likely to view their relationship as special and treat their partners better than couples who do not share a religious (or "higher power") viewpoint.((Soc Sci Res.: Living and Loving “Decent”: Religion and Relationship Quality among Urban Parents))

6. You Can’t Change Someone

Big problems arise when partners believe that once they are married, their partner will change their bad habits. Wrong! One of the biggest pieces of marriage advice is this: Bottom line, you can't force your partner to change. Only they can do that. If you are in a new relationship with someone, make sure you love their positive qualities and are perfectly able to tolerate the ones that aren't so great. Because odds are, they aren't changing anytime soon!

7. Maintain Your Friendships

One of the biggest lessons you can learn from a breakup is the importance of maintaining your friendships. When we get into a serious relationship, there is a tendency to push our friends and family to the side. We're in love, after all. Naturally, we want to spend all of our time with our sweetheart. But consider this piece of marriage advice - if your relationship does not work out, who will be there to support you? Studies show that the support you receive from friends and family after a divorce, breakup, or other trauma can actually lower psychological distress.((Pers Relatsh.: Understanding Associations among Family Support, Friend Support, and Psychological Distress.)) If you have not built and maintained strong relationships with your loved ones, you will feel very alone after a breakup.

8. Sex is Essential for a Happy Relationship

One telltale sign that your relationship was doomed was if sex was missing from your failed marriage. It may sound shallow to say that if you're not having sex, you're not having a great marriage. But consider these facts: Sexual satisfaction is one of the highest predictors in emotional intimacy between couples.((J Sex Marital Ther. : Couple communication, emotional and sexual intimacy, and relationship satisfaction.)) Men also report feeling happier in their marriages when their wives are sexually satisfied. This emotional intimacy contributes to marital happiness and the overall friendship, security, and vulnerability you feel with your partner. The oxytocin released during acts of physical intimacy is essential for a lasting marriage. The oxytocin hormone is responsible for reducing stress,((J Health Soc Behav.: Is Sex Good for Your Health? A National Study on Partnered Sexuality and Cardiovascular Risk Among Older Men and Women)) promoting bonding between partners, raising trust,((Nature: Oxytocin increases trust in humans.)) and can reduce anxiety and act as a natural antidepressant for women.((Biol Psychol.: Blood pressure reactivity to stress is better for people who recently had penile-vaginal intercourse than for people who had other or no sexual activity.))

Final Thoughts

By following this marriage advice, you can learn the telltale signs that your marriage is failing so you can try to save it earlier. You can even prevent your next relationship from falling apart again by learning the cause of a failed marriage. A failed marriage doesn’t mean that love isn't in the cards for you, but it's important to learn from the mistakes of the past relationships.

posted from https://www.dumblittleman.com/talking-to-your-crush/

How do you approach someone you are romantically interested in? How do you start talking to your crush?

These are good nerd questions, right?

It also sounds like the title to an article in a Seventeen or Cosmopolitan magazine. Except, no one reads magazines anymore. These days, it’s the kind of thing that someone might look up on Google or YouTube. It’s something we all think about and almost no one feels actually comfortable following through on.

Look, I sucked at this when I was younger, but I went the nerd route and got a Ph.D. in sociology. I studied human behavior, practiced social skills in professional settings, and eventually learned to *gasp* make small talk with people I didn’t know.

With all that fancy learning, this is what you should be doing when talking to your crush.

Put yourself in the same place as your crush

Although obvious, it isn’t always easy.

At lunch try to sit near him or you can join the same club. Talk to friends you do know who are standing near your crush. Physical proximity matters and you don’t want to be too obvious about just sauntering up randomly to start a conversation.

Physical proximity doesn’t inevitably lead to conversations, but it creates the opportunity. Also, if you are engaged in a shared activity (think group work!), a conversation is inevitable. Just don’t be creepy about it.

Start talking to your crush with something that you have in common

There’s a reason why people comment on the weather so much. We all have it in common. Talk about a teacher you both know, a meme everyone is talking about or a TV show or movie that you saw last weekend.

This step can be hard so just get it out of the way and move on to step 3 as soon as possible.

Ask him about what he thinks. It shouldn’t be too personal, but something that requires your crush to share something.

Ask if he saw a popular movie and what he thinks. As the conversation moves along, maybe ask him about his family or his favorite food.

Share about yourself, too. Research shows that people feel close when people ask about them. Do your best to remember the details for future conversations.

See Also: How to Keep a Conversation Going

Look for a natural end to the conversation and finish with a comment about your desire to talk again

Maybe class is starting or the meeting you are at is ending. A small comment that you enjoyed the conversation can go a long way.

Return to step 1

Or don’t.

Not all crushes will be interested in you. You might lose interest in your crush after the talk. But, if things went well for both of you, give it another shot!

A final piece of advice

Don’t be a creeper while talking to your crush. He is just another human being, not scary at all. If nerves get the best of you, just back off and try again later. If you spend too long staring at him while you are working on step 1, it can just be creepy.

Good luck out there!

The post How To Talk To Your Crush: A Guide For The Socially Awkward appeared first on Dumb Little Man.

posted from http://feedproxy.google.com/~r/JohnChowDotCom/~3/uASXwk7VnTc/

In this video, I interview the Steven Cole, the organizer of the OC Bitcoin Network.

Steven started investing in Bitcoin in 2013, when prices were around $850 per coin. He then watch prices drop to around $150. Instead of panicking and selling, he kept buying as the price went down.

Today, with the price of a single bitcoin at over $10K, that investment has paid off handsomely. Enjoy the interview.

posted from http://feedproxy.google.com/~r/pickthebrain/LYVv/~3/7OVKLDDAOkw/

You're reading How to Link Your Values to Your Passion in Life, originally posted on Pick the Brain | Motivation and Self Improvement. If you're enjoying this, please visit our site for more inspirational articles.

We are not born with ethics, values or passions to propel our lives further. It is the societal conditioning, upbringing, support (or the absence of it) and educations that help people discover their potential, strengths or weaknesses for that matter.

However, in life, we often find ourselves standing at the crossroads and muddle-headed over choosing one of the following- passion or ethics/values. Everything nice and successful comes at the price of some compromises and adjustments made in our thinking capacities and mental taming.

Every entrepreneur who is trying to carve a niche for himself in this big world had to give up on his values at some point of time in order to achieve the greatest rewards and success in the business. This does not mean that every business house runs on the protocol of deceit and twisted strategies. It is the balance that drags your dreams to a powerful world of reality. Linking values to your passion in life need efforts and constant meet-ups with failures.

Sadly, the world operates like that and this makes it arduous for someone to actually sustain their lives and career in that manner for longer. Does that mean giving up on the values is the only way for achieving happiness in life? What it takes to actually built an empire that is fueled by your passion and propelled by ethics?

Self-Worth

Self-worth does not equate arrogance. Self-worth is about realizing what you actually deserve and realizing what you need to cut off or not let into your life. The first step to building a bridge between values and passion in life is through the utmost power of knowing your worth. When we fail to build the boundaries around us is when we allow negative vibes flow in and command the way we live and communicate with people.

While following your passion in life, you will meet people who pull you down, mock at your dreams or even refuse to not take you seriously. Presence of these people in your life and the duration of their stay will depend upon how tall your boundaries are. This is self-worth and realizing every bit of it. You may wish to listen to the negative chatter or even think about witnessing the mockery but the pronounced sense of self-worth will always put a shield of confidence at the forefront that does not serve your higher purpose.

Self-Confidence

With self-worth comes tremendous amount of confidence and you walk with poise even with bare minimums. As they say, “the best attire you can wear is your Confidence”, which is true because a slouched posture and terrified facial expression would not take you places, anyways. Education gives you wings to fly high but confidence maintains the mindset and fuels the ambition.

In a world where money and status judges the stature of a human being, it becomes really difficult to stray away from the mentality and approach your passions in life. You may be forced to walk the easiest way or take up a regular cubbyhole career but it is the confidence in your belief system and abilities that shall hold your decisions really tight. You can easily link your values to your passion by realizing that every single stone thrown at you is the very first brick that would help you lay a foundation of the desires and dreams into the real world. Human ethics, as mentioned in the scriptures and Vedas talk about fulfilling your duties and not worrying about the results. Your self-confidence shall not let you deter from the path and education will serve as a torch-bearer.

Socializing & Communication

Remember, how self-worth makes you choose the right things in life? Same goes for choosing the right people and striking a deep conversation with them. Communication is the key to a person’s heart and often open doors to new possibilities. Socializing can help you in many ways as you strive to bring your passion and ethics together on the same ground. When you meet people in or outside your organization, you share stories, dreams, defeats and fears, which brings you all together in the same frequency.

The learning curve takes a good angle and you garner aspects from their stories that your own life misses big time. Empowering someone else is a noble act but doing the same with your own consciousness is gold. You amplify your successes, fuel your desires, and negative traits like ego and competition go for a major toss. Collaboration is about achieving success through combined efforts and practicality, which means zero fallacy and (or) greed to be at the top. Often times, you feel directionless and devoid of ideas for taking your passion to the next level. Correct socializing shall connect you to potential opportunities and ethical means to make things happen.

Stories of Survivors

We often pay attention towards a victim and misjudge a survivor. This is the sadistic part of modern society. During the conversation with like-minded people, do not listen to just the success stories but ask about their defeats as well. Talk about their past mistakes, scars that do not heal, and people who stabbed them so hard that they still bleed. Now, you must be thinking about all the why’s, how’s and where’s. You see, a victim mindset might fetch you some attention for the time being but a survivor shall garner respect in the long run.

A survivor knows the optimum ways to thrive in a challenging environment, turn a downright rejection into something powerful, and abilities to learn from the mistakes. Connect with people who have escaped some of the biggest and unfortunate incidents in their lives, such as Rape victims, war survivors, professionals who are ahead in the race despite hurdles, and even expats living in a different country and handling things on their own. Their stories will not let you deter from a path of confidence, truthfulness, and hard work. In this very moment, you might be thinking of giving up but open up your eyes to possibilities and chances that can make you win a good fortune. Inculcating passion into this 3-D world might seem difficult but it’s not something you cannot achieve.

Questioning the Life Path

Question your life’s path? In this very waking moment ask yourself, “Am I on the right path?”, “Is this my ultimate life path?” or simply, “Does this make me truly happy?” If you answer “No” to any of these or maybe one of the questions, then probably it is time to take a step back and assess your choices. Our highest life purpose in this human experience is to serve others and help those who are inferior to us in any shape or form. This is possible if we have enough resources to offer, right? Service and philanthropy become the second side to your nature when your passion is in action and ethics intact.

A weak exhausted soul that works under the pressure of his life and people will never be able to serve others. Realize what matters to you the most. You must focus on bringing all your resources together and collaborating with the right people so that you can empower other people around you, help them realize their true potential, and move ahead in life with power. How is it possible? This is possible if you refuse to compromise on your ethics, put your passion in life at the forefront, and working hard towards your goals. Question your life path more often, so that you know the dip points and areas that need immediate rectification. Do not agree upon walking a path that deters you from your values.

Introduce discipline in your life and watch things turning into a magical reality.

---

Om Singh is blogging at Retreat Kula, a website that offers best yoga retreats for beginners and 200 hours yoga teacher training for yogis around the world.  He is always on the lookout for interesting places to visit. It took him 25 years of his life to realize where his true calling lies, but once that was done, there’s been no looking back. Since the last ten years that he is on the go, He is sharing his travel experiences by writing about them.

You've read How to Link Your Values to Your Passion in Life, originally posted on Pick the Brain | Motivation and Self Improvement. If you've enjoyed this, please visit our site for more inspirational articles.

posted from https://addicted2success.com/entrepreneur-profile/infographic-9-of-the-worlds-most-influential-female-entrepreneurs/

The perception that the business world was a male-driven environment has been shattered in recent times by the extraordinary feats of many female entrepreneurs who have chased their dreams and worked tirelessly to make them come true. The wealthiest female entrepreneurs in the world not only should be proud of their own successes on a personal level but can also take pride in influencing and inspiring businesswomen everywhere to dream big, as anything is achievable.

This infographic below features nine female entrepreneurs who, each in their own way, had a burning ambition inside them and turned that passion into their life’s work, building multibillion-dollar enterprises along the way.

Some have done this in the traditional sense of entrepreneurship by starting small-scale companies and evolving them into global businesses – Spanx founder Sara Blakely is one such example. In her 20s, she greeted visitors at Disney World and sold fax machines door-to-door just to make a living. At 29, she took a leap of faith and set up her shaping underwear business from life savings of $5,000. She has now accrued wealth of more than $1 billion.

Some influential female entrepreneurs had already gained worldwide recognition by the time they started their own businesses. For instance, Beyoncé Knowles was a world-famous pop star who then doubled up her music career with a fashion label. This, along with her music and regular activism makes her a role model for millions of women worldwide.

Women like these have broken down barriers for female entrepreneurs everywhere and made it clear that you don’t need to be male to be recognized as a successful entrepreneur of great influence. Also, women can succeed in industries which many perceive to be male-driven; Cher Wang’s HTC is one of the leading smartphone manufacturers in the world. To quote Facebook’s chief operating officer Sheryl Sandberg, “In the future, there will be no female leaders. There will just be leaders.”

Check out this infographic from All Finance Tax below that outlines 9 of the most influential female entrepreneurs in the world:

Which one of these women do you admire most and why? Comment below!

posted from http://feedproxy.google.com/~r/mrsjanuary/~3/lFB05Gyf0t4/

It’s been over 10 years since the federal government launched the Tax Free Savings Account, yet to many Canadians, it remains somewhat of a mystery. In all likelihood, that’s due to the terrible branding this government registered investment account received from the outset. I mean, it isn’t actually a savings account, after all.

In this article, I’ll do my best to clear up some of the confusion surrounding the TFSA. I’ll also show you how you can get the best use out of the account, and even cover some of the top TFSA investment options available today.

What is a TFSA?

It’s best to think of a TFSA as a ‘tax sheltered umbrella’ of sorts, under which you can invest your money any variety of ways. And while you actually can hold money in a savings account within a TFSA, it’s often more beneficial to use your ‘umbrella’ for investments that offer the potential for higher returns, such as stocks, mutual funds, or ETFs. To achieve a balanced portfolio, bonds and GICs are also available.

TFSA vs. RRSP

In a lot of ways, the TFSA is similar to the RRSP. For starters, both offer the potential for tax-sheltered growth. The main difference lies in the way you fund the accounts, and when you end up paying taxes on the money.

With an RRSP, you receive an immediate tax deduction on any monies deposited into the plan, and are taxed on the money when it’s withdrawn after retirement. With a TFSA, you don’t get the benefit of a tax deduction, but you won’t pay taxes when the money is withdrawn. Not only that, but you don’t lose your contribution room when you withdraw from a TFSA. You can deposit the same amount the following year, over and above your regular contribution.

Which is Better – TFSA or RRSP?

A popular point of discussion is whether it’s better to invest in an RRSP or a TFSA. The best answer is that it depends entirely on the individual. In general, higher-income earners will receive a greater benefit from the tax-deductibility of an RRSP, so that may be the better point of focus. I recommend that Canadians of all ages and income levels consider investing in both RRSPs and TFSAs, but tailor your strategy to what is most suitable for you.

Who Can Contribute to a TFSA

Any Canadian resident with a Social Insurance Number, who is 18 or older can contribute to a TFSA, providing they’ve reached the age of majority in his or her province. Unlike an RRSP, the contribution room isn’t linked to earned income.

TFSA Contribution Limits

For 2019, the annual contribution limit set at $6,000 and is indexed for inflation each year. The lifetime contribution limit is $63,500, for anyone who has been eligible to contribute since the TFSAs inception (2009). Your annual contribution room grows regardless of whether or not you are actively contributing.

The TFSA is unique from an RRSP in that withdrawals from the plan can be re-contributed the following calendar year. For example, if I withdraw $10,000 from my TFSA in 2019, I can re-deposit that amount as early as January 1, 2020, and still make my regular annual contribution of $6,000 that same year.

Penalties on TFSA Over-Contributions

One feature I love about TFSAs is having the ability to re-contribute any funds withdrawn in the current year, the following year. This adds to the TFSAs flexibility, making it easier to save for a variety of both short term and long term goals. However, you must use caution to avoid over-contributing to your TFSA.

More specifically, any contribution made to the TFSA beyond the maximum allowable amount is considered an over-contribution. If this occurs, the Canada Revenue Agency (CRA) will charge a penalty of 1% per month on the excess contribution until it is withdrawn.

For example, if you were to over-contribute by $6,000 for a period of 12 months, you would be facing penalties of more than $720. Staying within your contribution limit is your responsibility, and your financial institution isn’t equipped to keep track of this for you. That said, CRA does keep track, and you can verify your available contribution room any time, by accessing your CRA MyAccount profile online.

Transferring Your TFSA Between Banks

You can move your existing TFSA from one financial institution to another, by initiating the transfer from the receiving institution. Keep in mind that most FI’s charge a transfer out fee, which may or may not be reimbursed by your new provider. You also need to decide if you want to transfer investments ‘in cash’, or ‘in kind’. This may or may not be an option.

What Happens to My TFSA If I Die?

When you open a TFSA account, you’ll have the option of designating a beneficiary. The main benefit of doing so is to allow TFSA funds to go to someone you love, should you pass away, while avoiding costly estate taxes and fees. You can choose to name a single or multiple beneficiaries, who

would receive the funds from your TFSA when you die.

Married or common-law spouses also have the option of selecting their significant other as a successor holder, rather than a beneficiary, which provides some additional survivorship benefits.

TFSA Quick Facts

• Available to Canadians 18 and over
• TFSAs can hold just about any type of investment ie. stocks, bonds, ETFs, GICs
• The annual contribution limit is indexed for inflation ($6,000 in 2019)
• Lifetime contribution room is $63,500 (2019)
• Funds withdrawn can be re-contributed during the following calendar year
• Unlike RRSPs, earned income is not tied to contribution room
• Ideal for a variety of savings goals ie. (emergency fund, car, vacation)
• Spouses/common-law partners can each have their own account

Making the Best Use of Your TFSA Account

As I mentioned at the outset of this article, many Canadians use their TFSA account as an emergency fund of sorts, by placing the money in a high-interest savings account, or a GIC. This, however, is not the most efficient use of a TFSA as a tax strategy.

Since you do not pay taxes on TFSA withdrawals, and your money grows tax-free, it is more advantageous to allocate high yielding investments within your TFSA. Lower yielding investments would be better suited inside an RRSP or a non-registered investment account.

Where Should I Invest My TFSA

If you’re a fan of low cost investing like we are here at MapleMoney, I recommend the following two options to invest your TFSA.

If you value low fees but prefer a hands-off approach, you might want to consider the services of a robo-advisor. While the term itself may make some investors nervous, Canadians are becoming more comfortable with robo-advisors every year, thanks to companies like Wealthsimple.

Wealthsimple is Canada’s leading robo-advisor, with over 4.3B in assets under management. When you open an account with Wealthsimple, they will invest TFSA funds in a portfolio of consisting of low-cost ETFs that are aligned to your recommended asset allocation. With Wealthsimple, you’ll only pay .40% up to $99,999, and your initial $10,000 is managed for free.

If you prefer to make your own investment decisions, managing your own TFSA online through a discount brokerage can be a great option. A self-directed account from Questrade enables you to hold all of those high yield investments I mentioned earlier, like stocks, ETFs, and mutual funds.

What I love about Questrade is that they combine a state of the art trading platform with some of the lowest fees in the business. In fact, Questrade does not charge fees for ETF purchases, which alone is enough to make them #1 in my books. You can open a TFSA account with Questrade within a few minutes, from the comfort of your living room, and be on your way.

Final Thoughts on TFSA Accounts

If prior to reading this article, you were like many Canadians and found the concept of Tax Free Savings Accounts a bit confusing, my hope is that I’ve provided some much-needed clarity. I think that once you realize that the TFSA is more or less a tax shelter, inside which you can hold a wide range of investments, it makes everything that much easier to understand.

The Ultimate Guide to the TFSA appeared first on MapleMoney.

posted from http://feedproxy.google.com/~r/JohnChowDotCom/~3/mRU4nVFXF9I/

The online world moves quickly. What was once the hottest thing since sliced bread quickly becomes last year’s iPhone. No one in their right mind would likely start a MySpace business today, right? And while blogs may have once been the burgeoning backbone of emerging opportunity, that may no longer be the case.

Sure, there are some hugely successful blogs out there, making a lot of money, but the vast majority of them have been around for a number of years. They’re not new. If you had to start from scratch today with a brand new blog, would you? Should you? There are many reasons why you might not want to start a new blog.

1. SEO Is a Fickle Monster

Discoverability has always been a big challenge for online entrepreneurs, regardless of the type of Internet business they run. If you have an online store, you need to attract customers to your website. But that’s a big reason why so many e-tailers also sell their products through bigger, more mainstream channels like Amazon, eBay and even Best Buy. The small-time crafter would likely find more success on Etsy than with their own website alone.

Blogging is much the same way. If it was hard getting noticed before, it can feel like it’s practically impossible today. The signal-to-noise ratio is overwhelming, and it can be remarkably difficult to break through and attract those readers, especially on a consistent basis. Search engine optimization can only get you so far, and what might land you some traffic today could put you in Google’s bad books tomorrow.

2. You Actually Hate Writing

I’m going to let you in on a little secret. Blog posts, generally speaking, consist of words. Like, lots of words. Ideally strung together in a manner that’s interesting, engaging, entertaining or informative. And someone needs to write those words. When you’re a business of one, chances are that “someone” is you.

If you’re like me, and you’ve always enjoyed the written word, both as a reader and a writer, then by all means, create a blog and start typing away. However, if writing has never been your strong suit and you generally avoid doing it at all, you probably shouldn’t try to be a blogger. Writing is a rather large part of the shtick.

3. No One Really READS Blogs Anymore

Hey look! A castle! If you’ve made it this far into today’s blog post, congratulations. More likely than not, you’re in a relative minority. Go ahead, pat yourself on the back, and leave a comment below declaring that you’re one of the select few who are actually reading these words.

Now, this doesn’t mean that written blog posts no longer hold value. Of course they do. But we also have to recognize that the vast majority of netizens have the attention span of a goldfish. They might read the headline, quickly skim the headers, and move on to the next thing. Many people also prefer to consume their media in other forms; that’s why YouTube videos, social media posts, podcasts, and other alternatives are all a part of the mix these days.

4. Go to Where Your Audience Already Is

If discoverability is such a challenge, why not eliminate one of the biggest hurdles in your way? Why not meet your potential audience, followers, and readers halfway, so it’s far easier for them to find you and your wonderful content?

When you have your own blog on your own domain, it’s very unlikely that someone will accidentally type that domain into their address bar and find you “accidentally on purpose.” But all these other platforms have discoverability built right into them, so that if you create great stuff and it gets noticed by a few, it’s more likely to get noticed by more people.

Instagram has one of the highest engagement levels around. YouTube is hugely popular and it’s easy for users to fall down the rabbit hole of suggested videos. Facebook, Medium, podcasts… these are all seemingly “easier” alternatives to a fresh blog.

5. A Landing Page Might Be Better

A few years ago, I asserted that you shouldn’t build your Internet business on rented land. By this, I meant that you should always have your own website. That’s your home on the web, regardless of what else happens in the world of social media and other platforms.

I still subscribe to that philosophy. However, your home on the web doesn’t necessarily need to be a blog, especially if you don’t feel like writing blog posts on a regular basis. No one wants to read another post that starts with “Sorry I haven’t updated in a while!”

So, what’s the alternative? A branded landing page may be much more effective. Use it like an online business card, highlighting who you are, what you do, and where people can find you. Are you primarily on YouTube with weekly vlogs? Showcase that. Keep creating content elsewhere and use your website as a way of showing off the best of what you do and what you’ve done.

With all of these reasons above, it might sound like you’d be stupid to start a new blog in 2019, right? Well, maybe that’s not completely the case either…

posted from https://addicted2success.com/success-advice/8-essential-qualities-that-define-great-leadership/

Who is a leader? How do you identify and differentiate between a leader and a follower? The difference is quite obvious since a leader leads and a follower follows. However, there is more to it than this simple definition.

Any person, in a leading position, can lead. But that does not make them a leader. To be a leader, one must possess certain capabilities and nurture the growth of specific traits within their personalities. To be able to develop essential qualities and to follow them by heart is what makes a leader!

Below, we have listed 8 essential qualities which most of the great leaders possess:

1. Passion and Commitment

A leader’s job is not limited to getting a task done. Instead, it encompasses passion and commitment as well. A leader is the one who is passionate about their work and is committed enough to achieve positive results at any cost. Such dedication is required since it instills a sense of responsibility in the team members as well.

If the leaders are busy giving tasks their best shot, it will not only gain the respect of their team members, but it will also infuse a new sense of energy in them. This will help them perform better. On the other hand, a leader lacking in passion or someone who is not entirely committed will have a difficult time motivating their team members.

2. Great Communication Skills

The ability to communicate well is a valued skill, not just in employees, but in leaders as well. Clearly, the one who can effectively communicate their ideas, vision or thoughts is the one who will see positive results.

Since great communication skills are an essential trait, leaders must know how to utilize them to motivate and instruct or guide their team members. Words have the power to push people to do the unthinkable and anyone who can master it can be a great leader. 

It’s also important to notice that communication skills are not just about conveying thoughts in the best manner since it also encompasses the ability to listen well!

3. Holding Oneself Accountable 

If something goes awry, leaders must be ready to hold themselves or their teams responsible without being unjust in their conduct. This kind of behavior will make the team see their mistakes and will create a sense of responsibility among them. They will strive to improve and deal with their work more seriously. Keep in mind that constant criticism will only belittle the employees. So, the leaders should know when to praise or criticise someone.

“Accountability separates the wishers in life from the action-takers that care enough about their future to account for their daily actions.” – John Di Lemme

4. Demonstration of Integrity

Integrity is honest conduct and how can one be a good leader without cultivating the right values in their character? As D. Eisenhower puts it, “The supreme quality of leadership is unquestionably integrity.”

Having integrity and honesty are the most important leadership qualities as it enables leaders to stand up for what they believe in. That said, integrity is a start of mind rather than something that is situational. Leaders should not be able to choose when to lie and when to tell the truth.

A great leader is the one who sticks with integrity and instills similar values in their team members. To see how fair one can be when everyone around them is being dishonest is a true mark of leadership!

5. Managerial Competence

We often hear that great leaders once started out by being good workers. Since good workers understand the company’s policies, know the products/services well, and generally are hard workers, we can understand why many people say that!

While working hard is a great trait, not every hard worker possesses leadership qualities. For instance, someone in a law firm who knows how to do something a bit better could be more of a leader than someone in a more commanding position. This is because, at the end of the day, the ability to motivate, mentor, and guide others matter more than just doing your job!

6. Delegation and Empowerment

A single individual will fall short of accomplishing everything at once and leaders realize this before anyone else does. This is why great leaders tend to delegate smaller tasks to their team members while directing their focus on major tasks. Through this way, great leaders not only empower their employees but they also display a sense of trust which further motivates the team to perform better. 

On the other hand, leaders that continue to micromanage hinder the abilities of their team members. Apart from a feeling of distrust, this behavior often leads to subpar results.

7. Enthusiastic Spirit

Individuals become leaders because they are passionate and enthusiastic about their profession. They love what they do, and they try to instill the same amount of passion in other people. Even if they are not trying to achieve the latter, their energy can still become contagious.

While an enthusiastic spirit can never act as a substitute for other leadership qualities, it can make a difference when combined with other existing qualities or skills. All of this is what makes a leader successful in their profession. 

Being a leader can be a challenging task because not everyone will agree with their ideas. In addition, they may lack the skills or knowledge to tackle a particular task. However, combined with an upbeat spirit, leaders can remain positive and work with other people to find solutions. 

“The pessimist complains about the wind. The optimist expects it to change. The leader adjusts the sails.” – John Maxwell

8. Creativity and Innovation

The thing that separates a leader from a follower is that the former has a vision and the creative drive to accomplish the unthinkable. The creator of the Apple, Steve Jobs, puts it perfectly, “Innovation distinguishes between a leader and a follower.” 

Having creativity is not enough. Instead, individuals must be ready to transform their creative spirit into an innovation that sets them apart from the rest. This is the true quality of a leader that constantly pushes them out of their safe zones and forces them to think outside the norm. 

Shocking, not ordinary, is the way to go! Fortunately, many leaders realize this early on and because of this, they strive to push boundaries.

Conclusion 

A leader is not the one who has secured a commanding position in a firm. Instead, it is the one that has the natural drive to mentor, motivate, and guide other people. On top of this, a natural born leader is the one that identifies a weakness and strives hard to bring a solution. 

Not everyone is or can be a natural born leader. Individuals must strive hard to cultivate leadership qualities in their characters to truly become a leader. Because of this, the essential qualities listed above, if applied correctly, can yield positive results. 

What qualities do you think make a great leader? Share your thoughts with us below!

posted from https://www.dumblittleman.com/long-recruitment-process/

An interview is a tiring process both for the candidate as well as the interviewer. This is why they want to cut the long recruitment process as soon as possible.

However, there are times when more than one or even more than two people are involved in the interview process. As the rounds of interview increase, so is the involvement of more interviewers.

In such cases, the candidate has to wait for long periods to complete the interview process. That is, if the initial rounds of the interview go well.

This is absolutely fine from the perspective of the interviewee as he is happy and interested in appearing for the next level of interviews. But, this situation becomes extremely upsetting when the candidate has to just wait for hours to meet the interviewers.

Here are more reasons why the long recruitment process should be avoided:

To close the process as soon as possible

One of the most prominent reasons for reducing recruitment time is to close the complete interview process as early as possible. This will not only benefit the candidate, but it will also benefit the interviewing team as well.

Also, the recruiters will have more time to assess other candidates or work on the various things that they have. From the candidates’ perspective, if the interview closes soon, the chances of getting a response quickly will also increase. The candidate will be able to plan his next step quickly as well.

See Also: Why Your Organization Should Invest In An HR Management System

To leave a good impression on the candidate

No matter how good your brand is, the candidates will still judge your company based on your recruitment process. So, if you want to leave a great impression on the candidates about your company, then make interviews consume less time.

To inspire the candidates to join your firm

The interview process leaves an impression on the candidate and sometimes, it may play a minor role in his decisions. Therefore, if you want the cream to join your brand, then make sure that you leave a sparkling impression on them.

If the interview process is friendly, quick, and efficient, then the candidate will have similar expectations from the company and his work area. This is a great way to positively influence the candidates to join the firm.

Impression always matters. A positive interview impression can be one of the reasons why the candidate chooses to work for your brand.

Interviews mostly involve long processes. There is a certain amount of time investment which is required from both parties. But sometimes, the candidates have to waste their time waiting for the interviewers because of poor interview planning and long recruitment process. These are things you can avoid.

See Also: Why Interviews Matter (And How To Make Them Better)

The post Why Recruiters Shouldn’t Keep The Candidates Waiting For Too Long appeared first on Dumb Little Man.