I will get to the tax news later on. I also have another contest to show you on winning a brand new car.

I suppose for the novice the news that a program has failed is big news. The reality is that virtually all of the surfs and similar programs do or will fail.  It is just a question of time.  It does not matter if the admin is a “trusted” individual or not.

I have sometimes found it wiser not to know or know of the person running the show. It keeps you more alert and less likely to blow too much on the “opportunity”.  Just because some blogger or list owner says they know or that “so and so” can be trusted does not mean the program will succeed or that you will make money.  Some of them make a great deal of their money on referral fees no matter if the program fails or not. So get to know who they are and the type of stuff they put out there.

The horrific track record for most of these programs is the main reason I have divested myself out of this arena for the most part.  Sure I will dabble here and there but the here’s and there’s are few and far between as time expands.

Also: Do not get sucked to getting in too late into anything.

It is incumbent upon anyone who participates in these things to become as informed as possible, take responsibility for your decisions, develop a strategy, establish and use some firm and hard rules. Otherwise for sure, stay away and maybe stay away anyway.

This reminds me of the poem about Ponzi Guy. You know the one, Ponzi guy, sweet as pie, he’s not so shy etc.  hehe.   Now don’t go stealing my poem about Ponzi Guy.  If you use it linky-lou-luv back to me, thanks.

Hey another car to win!  CBC has a contest on now to Win a 2010 Kia Forte Koup.  Become one with the “hockey puck” and win a nice car.  Check the rules and some skill may be required along with luck.

Ok, back to some tax strategy.  This directed at Canadian members as this is a new program in Canada this year.  It is called the Tax Free Savings Account aka TFSA.

Note: Since I wrote this the CRA have made the details much clearer on their website so please check with them.  You do not have to open an account this year as your “room” will still accumulate. Also they are proposing some changes so it is best to keep up with them.

You may have already done so but if not you must do this even putting in a small amount to make sure you get the “room” for 2009.

NOTE:  Do It Now!

New this year. TFSA Tax Free Savings Account   You can have stocks, savings mutual funds, savings etc. in it.  It is registered but not taxed like an RRSP.  You can withdraw and pay no tax and put funds back in etc.  You can put up to $5000 per year in them, max.
Check it Out Here.

It is a good way to save paying tax even on savings.
The $5000 also accumulates so if you put in $1000 this year you could put in $9000 next year.  They establish a TFSA “room” just like for an RRSP.  The CRA will advise your limit each year but you have to have one before that will happen.

About Tax-Free Savings Account (TFSA)

Starting in 2009, Canadian residents who are 18 years of age or older will be able to earn tax-free investment income within a Tax-Free Savings Account (TFSA) during their lifetime.

Contributions to a TFSA are not deductible for income tax purposes. Also, interest on money borrowed to invest in a TFSA is not tax deductible. However, the income generated in such an account (for example, investment income and capital gains) is tax-free, even when it is withdrawn.

The TFSA dollar limit is $5,000 in 2009, and will be indexed to inflation and rounded to the nearest $500 in later years. Unused TFSA contribution room can be carried forward to later years. The total of TFSA withdrawals in a calendar year is added to the TFSA contribution room for the next calendar year.

Still many people will not do this.  At the very least open one up with a small contribution so you do not miss out on the “Room” that will build up for you or your children, 18 years of age or older.  Help them out if need be even if they do not have any income. Dec 31st is the deadline so do not miss out.

Ok, that is just some free advice from me. Remember this is like getting free money from the government.   If they want to give it away for free, I say take it. This kind of advice I do not mind giving out freely as it can help many of you save on your taxes now or in the future.

Ok I will “leaf” this with your for today. I do hope your successes are many.

Cheers,

Gene

Just got paid a few bucks from Fast Power Lines.  I wrote to Jim a few times and he came through.  Not a big deal or amount but I felt they had to follow through on it.

Bernard Madoff, the ultimate ponzi man,  gets the maximum sentence of 150 years.  Hopefully he will not meet one of his victims in prison.    All kinds of things happen in there or so I hear.  Of course he may start a pen ponzi.  You just never know.

“The judge said the estimate that Madoff has cost his victims more than $13 billion was conservative because it did not include money from feeder funds.” Ok I think I’ve had enough of Bernie until he comes out in the year 2159 or sooner.

Don’t forget to add me as a friend in the new section of Me2Everyone.  This is the start of many new things in there. Also someone is going to win 10M shares.

SQIP has announced they are going to have a Chitter, which is like Twitter.  As for Twitter, you can follow me in there also and add me as a friend on SQIP.

Both SQIP and Me2Everyone have social networking components and both are striving to increase value.  Joining them now is a great time to do so as you get instant value for free.

Just read that Healthcare and Private Education are growing fields at the moment in this economy.  For sure there is lots of room for growth as the population retrain and as the population ages healthcare is an important component of that.

RoboForm, above, is one of the best safe ways to operate on the net, especially if you have many programs to log in to.   I upgraded long time ago and I am glad I did.  Trying to remember passwords is a real pain in the you know what.  One of the best things I have ever done.  Try the free version and if you like it then upgrade.  Yes there is a free version.

Life is an adventure.  Live, love, lust. Do anything, but Do Something!

Cheers,

Gene

………

Well that is one big scam by a real ponzi man.  My spell check wanted to change ponzi man to pansy man and almost made it in. Silly, silly, silly  spell check.

It was announced that Bernard Madoff was stripped of all his possessions under a 171 billion dollar, yes that is correct, billion, forfeiture order and he is facing life in prison, well unless he can live beyond another 150 years they are seeking for him.  Since he is 71 now, that is not very likely.  Way to go ponzi man.

The magnitude of this kind of makes all those scams on the net look really puny.  Not that they do not hurt folks in the wallet at times though.  Still as mentioned before, play smartly if you dare to tread in the ponzi waters.  Or save your money for something else.  You decide.

AdVentures4U is still going strongly.  Many are in this now and yes it does depend on money coming in for it to continue.  So does that make it a pansy or a ponzi?  Hehehe. You decide.

Speaking of Free, Home Hardware (Canada) are giving away a brand new Toyota Rav4.  Well 3 of them actually.  Now that is a nice prize.  If qualified make sure you enter only once.  The Rav4 is produced in Canada, Woodstock, Ontario. Imagine that. Other models are made in Canada also.  That was smart thinking by the Japanese to build locally.

I may post a separate page of Free Offers on top, well I will actually. So be on the look out for that and if you know of any very good ones, drop me a line or make a comment here on this web site.

BTW if you joined SQIP, Me2Everyone or both, make sure you add me as a friend in there.  I will be uploading some photos and Me2Everyone is going to give away 10 million shares very soon.  Don’t wait to join and suggest this to friends.  Hey they may win and if you have referred someone, you will win something also.  Of course they are working towards building a huge site and business.

Bigger than Facebook and those other social networks.  Who knows? Then when it is in place they will sell and everyone will make money.  That is the theory and I sure hope they are correct in that vision.  Lots of activity coming in Me2Everyone and also SQIP. M2E are announcing new things daily.

SQIP has increased the valuation to .82 Euros and one day could go to 5, 10 or 20 Euros based on their model being very successful.  Anyone both of these are still free to join and have instant value.

I will be posting some photos in there as that is part of the free component as well as much more.

Cheers,

Gene

PS Check the creativewaves blog for the latest news there.  There is a new page and some writings to discover.

……..

As many of us know, there is many a ponzi on the net, make money, online and offline schemes, easy money schemes etc.  If you do not know what that is, do a search on Carlo Ponzi.  This is based upon Carlo Ponzi’s name yet he is not the originator of it.  Of course there are many variations on these schemes but most require new money to flow in to keep them going.  Many will tell you that they have “outside” ways to earn money and help the cause.  Mostly that is untrue.  All these things go back a long time in human history.

There may be some that have outside income however some will take surplus funds and put them into other ponzis or more highly likely they put this into their own pockets.   Some of the programs like this are the surf programs, hyips etc.   Hyips are so called high yield investment programs, high risk high reward but do not confuse them with regular investments such as with a bank or an investment company.

Some can go on for a long time and some fizzle rather quickly so you may make a buck or two or not.  When outflow starts to exceed inflow then the game ends rather quickly and the guy running the ponzi has left the building. Frequently many excuses are made as to what has happened.

Follow a few rules and you may come out ahead.  Also know that many will lose along the way. Do you really want to be involved with these schemes?  If you cannot afford to lose or you cannot sleep knowing this may happen, do not play these games.

I have been successful with them as long as I follow my own rules. Of course I never “recommend” these things but if you decide to play, please do your own due diligence and do not rely strictly on what others tell you.  Monitor them for awhile and see how they do.  Many “forget” to report when these games end.  Of course many have sucked up a significant amount in referral fees and those sometimes generate more income than they garner from the ponzis themselves.

Your prime objective should be to recover your seed funds as soon as possible and then play with the “profits” taking a certain percentage back each payday.  You will make a bit less doing this but you preserve your funds that way.  There is always another train leaving the station, i.e. ponzi coming along.

Making money and greed seems to go together so do not get too greedy. Be vigilant and get to know folks who suggest these things.  If they guarantee anything that is usually too good to be true.  And nothing lasts forever.  If you come in too late your chances of winning are greatly diminished and you are likely throwing your money away.

Ironically the biggest scam of this ilk was the Madoff ponzi scam to the tune of 50 Billion dollars. And the SEC had been made known about it for years and had done nothing about it.  They seem to go after others with more zeal. Of course, he was once chairman of the board of the NASDAQ exchange so did that have something to do with it?

Here is something I wrote awhile ago called Ponzi Guy.

Ponzi guy
Ponzi guy
Sweet as Pie
He’s not so shy
Ever so Sweet as Honey
When he is collecting your Money

For the rest of this ditty go to Ponzi Guy.

Ok, off my pozi high horse for today.  I hope everyone enjoyed Father’s Day today.

Cheers,

Gene

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