Is it possible that each year goes by faster than the last? 2015 certainly felt that way. On that same note, did you know that MillionDollarJourney.com started in December 2006? That makes this site 9 years old which means I’ve been blogging for a quarter of my life! What keeps me going? When it all comes down to it, it’s the reader community that’s grown here over the years with your comments and questions on this site and over email. It gives me a sense of purpose – so thank you!
2015 was a noteworthy financial year with changes in the federal government (and provincial in NL) which resulted in changes to the TFSA limit. In addition, we saw lowered interest rates, and the continued oil and gas apocalypse. With regards to the new Liberal government, they are bringing lower taxes to the middle tax bracket, but additional taxes for the highest tax bracket. Not only that, they have a plan to increase child benefits for the middle class. How will they pay for these additional benefits? First, they are cutting back on some of the previous governments initiatives, but most noteworthy to me, is that they have already rolled back the $10,000 TFSA contribution limit to $5,500 for 2016.
The good news is that they did not touch the 2015 $10,000 contribution limit, so even if you haven’t maxed out your TFSA, you will still keep the $10k limit for 2015. So lets take a look at what this means. From wiki:
Years TFSA Annual Limit Cumulative Total 2009-2012 $5,000 $20,000 2013-2014 $5,500 $31,000 2015 $10,000 $41,000 2016 $5,500 (proposed) $46,500
In addition to the big changes to the TFSA limit, the other big news this year was the continual oversupply, thus decline, of oil. As of this post, oil is trading at just under $35/barrel (WTI crude oil). This has resulted in many lay offs in the oil sector, and the market sell off of primarily the smaller oil and gas service companies. The larger integrated companies have been surprisingly resilient in this bearish environment. In my view, unless OPEC decides to drastically cut supply, or other large geopolitical event, oil will continue to stay low. I suspect that there will be more mergers and acquisitions in the energy space in 2016.
Ok, back to the point of the post! With 2015 just about behind us, here are the most popular articles on MDJ for this past year. Feel free to sift through them and I hope that you enjoy. I’m going to take a break away from the blog for the rest of the year, so I’ll see you all in 2016.
Happy Holidays, Merry Christmas, and a Happy New Year from my family to yours!
If you would like to read more articles like this, you can sign up for my free weekly money tips newsletter below (we will never spam you).