KeatsConnelly Cross-Border Weekly Best of the Web 2012-12-14

Every week we share news stories, blog articles and other interesting stuff from around the web that received the most views, shares, comments and overall interest on various KeatsConnelly social media outlets.

This week we bring you a double dose from around the web. A scheduling snafu caused us to miss last week’s “Best of the Web”, so you’ll find the stories we meant to share last week included today.

The lottery of life (www.economist.com) – Warren Buffett, probably the world’s most successful investor, has said that anything good that happened to him could be traced back to the fact that he was born in the right country, the United States, at the right time (1930)…

Eugene Fama on Inflation, The Crisis, And Why You Can’t Beat The Market After Fees (www.forbes.com) – The current issue of the Financial Analysts Journal has an entertaining, if unsettling, interview with finance-theory pioneer Eugene Fama in which he a) reminds us active managers, as a matter of simple mathematics, can’t beat the market b) says the financial crisis was triggered by political, not financial factors, and c) inflation is coming, and there’s nothing the Federal Reserve can do about it…

Tips for Snowbirds Before They Take Flight (www.wsj.com) – By the time Gil Stanley retired from teaching in 2009, he’d had enough of the harsh winters in his hometown of York Harbor, Maine. So the now-72-year-old built a home in Florida where he spends about half the year. But getting his financial life in tune with this new lifestyle was no easy task…

Canada faces near-recession if U.S. plunges over “cliff,” Carney warns (www.theglobeandmail.com) – The stakes are high for Canada as the U.S. hurtles toward the so-called “fiscal cliff” deadline, Bank of Canada Governor Mark Carney says, including the threat of an economic stall in this country. Canada would be dragged close to another recession if U.S. President Barack Obama and Congress can’t strike a deal to avoid steep tax hikes and spending cuts set for Jan. 1, Mr. Carney warned Tuesday…

Cross-border banking made easy (www.moneyville.ca) – Canadians are always looking for better ways to bank in the U.S. Snowbirds need a U.S. bank account to take care of the bills at their condo. Canadian shoppers want easier ways to pay their Macy’s or J.C. Penney account after cross-border shopping sprees.  Opening an account at a U.S. bank is an option, but you might not be able to get a U.S. credit card because you don’t have a credit history…

Does it cost more to live in Canada or the U.S.? Depends if you have kids (www.theglobeandmail.com) – This question is part of the age-old debate between two nations. The societies of both Canada and the United States hold the view that their own country is the better place to live. Generally, neither country learns all the facts about what the other country has to offer. So, which is better: Canada or the United States?

9 smart reasons to rethink your retirement plans (www.financialpost.com) – If anything has been a casualty of the Great Recession, it’s our traditional vision of retirement–– clocking out at age 65, cruises every other month and a condo in Florida. Instead, workers today are coming to grips with the very realistic notion that they may work well into their 70s. But is that really such a bad thing? “Yes, for some people continuing to work is an economic necessity due to shrinking nest eggs and rising medical costs,” Ken Budd, executive editor of AARP The Magazine, told Business Insider. “But as people not only live longer, but continue to feel healthy, why slow down? The rocking chair is out, entrepreneurship is in: older Americans are driving much of the growth in new businesses. People want to feel productive, regardless of age.”

Qualified Domestic Trusts – No Silver Bullet Solution for Cross-Border Estate Planning (xbplanning.blogspot.com) – The Qualified Domestic Trust or QDOT has for years been an essential tool of cross-border estate planning. However, US non-citizen married couples and estate planning practitioners alike may be lulled into a false sense of security with the QDOT.

Come back next Friday for more interesting news and articles. Enjoy your weekend!

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Cross-Border Series
The Border Guide
Now available in its 11th edition, The Border Guide has sold over 80,000 copies and is considered the definitive cross-border financial tool for Canadians living, working and investing in the United States.
A Canadian's Best Tax Haven
This book will show you how to realize your dream of living a lifestyle in a climate that allows for year-round golfing and sandy beaches while lowering your taxes and cost of living.
Taxation of Canadians in America
This book addresses individual US taxation and estate planning issues you will face as a Canadian living in the US.
Taxation of Americans in Canada
US citizens and green card holders are subject to US tax regardless of where they reside in the world. Are YOU at risk?

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