The Tallest Building In The World – Burj Khalifa

The Ninth Wonder of the World: World’s Tallest Skyscraper – The Dubai Tower

For those who are scared of heights, the Dubai Tower, also known as Burj Khalifa, is something they do not want to be anywhere near. Built in Dubai, UAE, the tower is the tallest structure ever built by humans, coming in at 2,717 feet, or 1,000 feet above the previous record holder in Taipei. Construction began in 2004, with it officially opening to the public and businesses in 2010 .  Through those six years of work, it took $1.5 billion to build the structure, which has now taken over several records. One interesting piece of information relating to the Dubai Tower is that it has returned the title of the world’s tallest structure to the Middle East after 700 years. Previously, the world’s tallest structure was the Great Pyramid at Giza, which stood as the tallest for 4,000 years until 1311 when it was pushed down the ranking by the Lincoln Cathedral in England.

Some other records this amazing building now holds include:

- Tallest extant structure.

- Tallest freestanding structure.

- Building with the most floors.

- World’s highest elevator installation.

- World’s fastest elevators (40 miles per hour).

- Highest vertical concrete pumping.

- First world’s tallest structure to include residential space.

- Highest outdoor observation deck.

- World’s highest mosque.

- World’s highest installation of an aluminum and glass façade.

- World’s highest swimming pool.

The design of the Dubai Tower was centered on Islamic architecture, with the design of the building incorporating the historical and cultural elements of the region. As well, the Y-shape of the building allows for the building to have a hotel and residential space in it. This is because the shape allows for both outward views that are unobstructed, as well as the maximum available inward natural light. The Y-shape of the building is actually inspired by the Hymenocallis flower. The tower features 27 terraces, with a spire at the top of the building pushing far into the air. The tower was built in order to provide excellent views of the Persian Gulf, and onion domes that are very popular in architecture of the Middle East have also been incorporated.

In order to provide maximum stability for the building, something that many who hate heights will worry about, the building actually twists 120 degrees from its base, giving it almost a cork-screw type of design to maximize strength. Of course, that does not stop swaying. At the top of the tower, there is a sway of about five feet.

In total, the Dubai Tower will hold 35,000 people at any time. There are a total of 57 elevators in the building, as well as eight escalators. Each elevator can carry as many as 14 people, and there were plans to install the first triple-deck elevators on Earth. Instead, double-deck elevators were chosen. If you were to walk from the bottom of the building to the top on the stairs, you would have to walk up 2,909 stairs from the ground floor to the top floor, 160 stories above.

Things are just beginning for the tower and area around it though. There are plans for a large-scale development that will include nine hotels, 30,000 homes, over seven acres of park, 19 residential towers, a mall and a man-made lake that stretches for 30-acres. Dubai is trying to push away from an oil economy and more into a tourist economy, hence the incredible focus on providing luxury to those who visit this wealthy nation.

For more posts like this, visit:

Real Estate Expedition – Exploring Real Estate Beyond Our Borders

Will Chinese Economy Surpasses USA?

India, China, and Global Economy

While the global recession has just come to an end, and some nations are starting to dig their way out of financial distress, the economies of India and China continued to grow while most others were bogged down.

Some economists even point out that India and China are leading the way and doing more than their share when it comes to boosting the global recovery. Many of them also predict that China will eventually take over from the United States as the world’s economic superpower sometime during the next 10 years.

That doesn’t really come as much of a surprise to the man on the street though, but what may be a shocker is that India may also soon overtake the mighty U.S.  However, while the two up and comers are become big players in the global economic game, they are achieving it in with a different set of skills and under dissimilar governments.

At present, most economists will agree that when it comes to the top tier of global economic standing, the U.S. leads Japan and China. According to the CIA World Fact book, the GDP (gross domestic product) in 2008 showed the U.S. at US $14 trillion, Japan at $5 trillion and  China $4.4 at trillion. However, India has cracked the top 2$1.20 and sat at number 12 on the 2008 list at trillion.

While China may be growing pretty rapidly, it’s still got a long journey ahead before it catches up to America. And from these figures, that would appear it might take decades. However, the key point to remember is that while the economies of China and India are still growing, the rest of the nations’ GDP around the world has certainly stalled or at least slowed down for the time being due to the recession.

When a country’s economy is considered to be strong, its citizens often spend their money on big-ticket items such as homes and automobiles. However, when a recession hits and the economy is weakened, people hang on to their money and these types of purchases are postponed, especially when jobs are being lost. This can clearly be seen over the past couple of years in the U.S.

But the citizens of China are spending their hard-earned money at a high rate and it’s predicted that by next year China will surpass America when it comes to car sales. The recent recall of millions of Toyota automobiles and the temporary halt of production in North America will also hurt American sales.

It is estimated that China’s growth rate averages between seven and eight per cent, while the U.S. predicted growth is just over one percent. If these numbers are accurate, sooner or later China will pass the leader in our lifetime.

It also looks like India will soon become a major player as its growth rate looks pretty high for the next few years. While the nations’ GDP is well below the U.S. and China at the moment, it has one of the largest populations in the world.  And considering the comparatively low wages and areas of poverty, India’s GDP is quite impressive.

However, India’s economy is mainly based on services instead of goods and its economy has the potential for great growth because of its population and excellent knowledge base.  In fact, many economists predict that India will be among the top economies of the world by the year 2020.

Some hand-picked related and non-related posts:

China India Archive

Canada Personal Finance Blog

The Ten Tallest Buildings in the World

Canada Tax Preparation Software 2009

What to Do When Your Income Decreases

How Successful Entrepreneurs Use The Law Of Attraction

Canada Tax Preparation Software 2009

Canada Income Tax Software – Windows Version

If this is your first time here, You may want to subscribe to ADJ via RSS. If you are reading this page via RSS reader, you can visit the main page here -Canada’s Personal Finance Blog

Canada loves A Dawn Journal’s tax preparation software review, and it’s no wonder Canada Tax Preparation Software 2008 article has become the all-time most popular post (look at the Most Popular Posts Widget on the top right, as of Feb 1, 2010). Why is this post so popular? It’s very simple, short, and to the point. Life is complicated enough; you don’t want to make it even more complicated by reading tax software review articles that go beyond comprehension of readers who do not hold an MBA.

My message is simple and clear: you do not need to spend money on these software programs when you can have it for free or for a small reasonable price. Don’t buy those fancy, brand name software programs at hefty prices; it’s unnecessary and a waste. I never recommend or feature pricy software programs on A Dawn Journal, and I do not put their direct ads on my site either (ads you see here, such as ads by Google or other ad networks, I have no control over). Recently, I was approached by a brand name tax software company to place their link inside this article. I declined the request right away. If I am not recommending their products, there is no way I will place their links inside my article. It’s a big NO NO.

In Canada, tax software programs are required to be NETFILE-certified by the Canada Revenue Agency (CRA). The software programs I mentioned here are all NETFILE-certified. If you would like to see all NETFILE-certified tax software programs, visit CRA NETFILE-certified Tax Software Page.

Canada Tax Software – A Dawn Journal Top Picks

As per CRA requirement, all these tax software programs have a limitation of maximum 20 returns.

MyTaxExpress

• Coupled tax return optimized.
• Print real CRA tax form with 2D barcode.
• Real CRA tax forms interface gives you the ability to input T3, T4, T5 and other tax slips into the tax return.
• Price: $6.99 = 1 Return and $13.99 = 10 Returns. If total income is less than $25,000, it will not be counted from the total returns allowed.

TaxFreeWay

• TaxFreeway is the only software allows user to use Interview and Form mode simultaneously.
• Able to automatically split T3/T5 slips and stock/mutual fund transactions for spousal returns
• Both Windows version and Mac Version are available. You can share, transfer and carry forward data between Windows and Mac.
• It’s got RRSP planner, carry forward feature, spousal return integration, and tax tips on demand.
• Price: $9.95

Studio Tax

• The only, totally free Canadian tax software program.
• Supports simple to complex tax scenarios.
• Feel free to support them by donating a few dollars.
• Price: Free

GenuTax

• Multiyear tax software program. Buy only once and future annual updates are free.
• Easy Interview Process makes tax preparation a snap. Answer questions related to your topics to complete your tax return.
• Enter tax data on screen that look like your tax slips.
• Price: $39.99

NB - Only GenuTax has increased their price from $34.99 (last year) to $39.99. TaxFreeWay and MyTaxExpress prices remain the same as last year.

Quick Fact

• Deadline for 2009 Tax Returns: April 30, 2010
• Penalty for late filing: 5% of your 2009 balance owing, plus 1% of your balance owing for each full month that your return is late, to a maximum of 12 months. For more info, visit Interest and the late-filing penalty
• EFILE: Don’t mix up EFILE with NETFILE. EFILE is a service that lets authorized and professional service providers send individual income tax return information to CRA by Internet. Tax professional cannot use NETFILE. They must use EFILE. Therefore, when you submit your own tax return = you use NETFILE and when tax professionals submit your tax return = they use EFILE.

Quick Fact Source: Canada Revenue Agency

Three Simple Reasons Why I Am Not Buying An Apple iPad Now

Should You Buy Apple iPad Tablet Right Now?

Should You Switch To Wind Mobile?

Apple released its much-hyped, highly anticipated, tablet computer iPad today. Reactions have been mixed. There are six models available in the U.S. starting at US$499. iPad is not available in Canada yet. Expect to see them in Canada in 60 days (Wi-Fi models) to 90 days (3G models).

Now that the wait is over, you may be contemplating the question: “should I buy an iPad?”

My perspective is as follows:

Priced at $499, I don’t think the iPad is that expensive. However, I have decided not to buy one, and here are three simple reasons  why:

• First generation tech-gadgets are always over-priced and will always have flaws. Manufacturers improve these flaws based on consumers’ feedback on the second generation model. Prices always become more affordable.  This is what happened with the iPhone.

• Apple is not the only player in the market.  In a few months you will see other competitors release similar prototype products. You will have better options then at much lesser prices. Waiting pays.

• It makes me feel good to kill my instant-gratification urge. The decision of not buying an iPad leaves $499 in my pocket. What’s else can be better than this?

Before you jump into buying an iPad, I suggest you wait a few days and think your decision over. Bookmark this article and read it again after a day or two. Who knows, it may well save you $500 instantly.

More Articles:

Jumping Into The iPhone

Free Home Phone Comes To Canada

iPhone, Canada and Third World Countries

MoviePix MP5A4 HD 720P Video Camcorder Review

Hi-Speed Internet For Your Laptop Anywhere, Anytime

Rogers’ iPhone Rates Contradict Good Personal Finance Etiquette

What To Do When Your Home Is Being Repossessed?

Notice Periods – Time To Run Through Your Options

When you are having trouble paying your mortgage, the inevitable spectre of repossession emerges. Financial hardship is awful for anyone. The knowledge that you could be unemployed and not knowing where the next month’s groceries are coming from is bad enough, but when you have to deal with the idea that the roof over your head could be taken away from you things become worse still. Nobody who has experienced the situation of being repossessed, or even under threat of repossession, can ever take the payment of their mortgage lightly. The mere thought of having to move out of a home that you have made your own is too much.

However, there is a process that needs to run its course before a house can be repossessed, and if you work together with the bank who supply your mortgage then there are still options which could mean that you can escape the danger of repossession. The important thing of which you must take account is that banks generally do not want to foreclose on a house. As valuable as a house may be, and as keen as they are to protect their investment, banks set a lot of store by customer co-operation. With other forms of debt, specifically unsecured debts, one of the banks’ main fears is that customers will duck and run, leaving no trace of their whereabouts. With a mortgage, the loan is tied to the house, so the chance of a customer sneaking off with the proceeds of their non-payment is removed.

A policy of co-operation with the bank will serve you well in this respect. Rather than take the house off you, renovate any part that they consider not to be up to scratch and put it back on the market at a lower price to force a sale – all of which leaves them out of pocket – they would rather agree with a customer to refinance the mortgage to a more manageable level, creating in effect a new mortgage with a full term. You may stay indebted to the bank for longer, but you also stay in the house. If you cannot agree a remortgage or fail to make the payments, then the bank will be more likely to repossess. If they do this, they must however give a notice period.

During the course of your notice period, you have two options of any real substance. You can start looking for rental properties in preparation for the house being repossessed by the bank at the end of the stipulated period (either 35 or 45 days) or you can look for one last way to make the situation good. This may include looking elsewhere for a mortgage – which you will then use to pay off the old mortgage in full and begin to pay off anew. If you are able to demonstrate either the completion of this process or its reaching an advanced stage, the notice period can be extended or quashed, allowing you to make a new start and remain in the home you have made.

More Articles:

Mortgage Archive

Canada’s Personal Finance Blog

Beware Of Mortgage Fraud Scams

What Is A Mortgage Payment Schedule?

Consequences Of Lying On Mortgage Application

Should You Switch To Wind Mobile?

Wireless Competition Comes To Canada

Wind Mobile, owned by Globalive Communications, launched its service in Canada and opened doors to new competition. Canada’s cell phone market was captured and manipulated by the big three carriers (Bell, Rogers, and Telus) for a long time. Wind Mobile’s entrance in Canadian market is revolutionary and is expected to make dents in the big three’s over-priced cellular plans. However, how economical are Wind Mobile’s voice and data plans? Should you switch right now?

Wind Offers Simple Plans

Wind Mobile currently offers these three simple voice plans:

Chat – $15 per month 
Always Talk – $35 per month 
Always Shout – $45 per month

It also offers an Unlimited Internet USB Stick Data Plan for laptop called Infinite Laptop priced at $55 per month. You can also add an unlimited data plan to the Always Talk and Always Shout plans for an additional $35 per month.

Wind Mobile – Need to Know

Before I go into whether you should jump into Wind Mobile, let’s look at what you need to know:

• There are no contracts, no system access fees, no 911 fees, or any other fees.  However, the handsets are not subsidized either; you pay full phone prices upfront.
• First month of any new Wind plan is free!
• Wind allows you to buy just a SIM card (without a phone) and use it with your current (unlocked) handset.  But, Wind operates on the AWS band (1700 Mhz/BandIV), and a majority of phones available in North America (like the iPhone) are not compatible with this band. However, a lot of new phones (including Google’s Nexus One) do support this band.  Wind will verify if your current handset is compatible with their service.
• Some of the big 3 have changed their basic plans to compete with Wind.  For example, Rogers now offers unlimited local calling on some of their plans.
• Wind has amazing deals on voice plans, but if you combine voice + data, your monthly bill can be the same as (if not more than) the big three.
• Wind offers Unlimited Wind to Wind calling on any voice plan.
• Wind has an amazing unlimited local calling feature in any Wind Home zone.  If you’re in Toronto or Calgary (Vancouver, Ottawa, and Edmonton coming soon) there’s no roaming charge for using your phone.
• However, you pay 25 cents a minute for calls outside Wind home zone.
• Another great deal for travelers: All calls made from the US are charged at the regular Wind Away Zone rate (25 cents per minute).  This is a huge benefit compared to charges from other carriers that can reach $2 per minute when you use your phone in the US.

Should You Switch To Wind Mobile?

Wind Mobile plans may look like quite a deal if you are just skimming the surface. However, if you look deep enough, you will see that some Wind plans aren’t much different than what is already available in Canada. With Wind, a premium voice plan with data added would cost approximately $80 a month. This is not very different from the other three companies, and you may be able to get better deals with the other companies if you know how to bargain with them (yes, like everything else, you can bargain with your cell phone company). For example, I have a plan with my cell phone company which is something like Wind’s Always Shout plan but only better, and I pay  around $35 a month (after taxes, all fess and everything). If you are wondering – yes, I had to bargain with my cell company to get this deal.

My Take

Wind Mobile’s $15 a month Chat plan and $55 a month unlimited Internet for laptop plans are unbelievably incredible deals and most likely no other wireless companies in Canada can beat them. The unlimited Wind to Wind calling feature on the $15 plan is great for students and families.  If you are shopping for unlimited Internet for laptop and a low monthly plan, Wind is the way to go. If you travel within Canada and the US regularly, there are some excellent benefits to being a Wind customer.  If you are looking at the Always Talk and Always Shout plans, talk to the other wireless companies first and you may be able to get a better deal.

Links:

Wind Mobile Website

Canada’s Personal Finance Blog

Smart Tips Archive

How to Get Free Internet for Your Laptop at Starbucks

Free Home Phone Comes To Canada

Personal Finance for Kids – Presented By Canada’s Personal Finance Blog A Dawn Journal

Introducing Personal Finance For Kids Section

In light of the global financial crisis, we all have realized that most of us have little to no experience about how to manage money. Personal finance is not taught in our schools and universities and our kids will repeatedly make the same money mistakes that most of us have gone through and still pay for it for years to come. Personal finance lessons for kids should start at home at an early age. However, most of us are lacking the knowledge and information we need to teach our kids. We all seem to stumble and often it seems like a taboo when it comes to teaching our kids about money and finances.

Considering all this, I have decided to create a new Personal Finance For Kids section on A Dawn Journal – Canada’s Personal Finance Blog. Like all other A Dawn Journal articles, you can expect to find quality articles on this section regarding personal finance and kids. Don’t forget to bookmark this site and let your friends and family know by sharing on social media sites like Digg.com and delicious.com.

Links:

Canada’s Personal Finance Blog

Personal Finance For Kids Archive

Beware Of Mortgage Fraud Scams

Mortgage fraud Scams

With a mortgage being a simple transaction between an individual and an institution, with so much of the information locked in for both parties, it would seem difficult for mortgages to be open to fraud. And yet, it clearly is because there are an increasing number of potential mortgage scams that are putting householders out of pocket and in some cases out of their homes. The difficulty of targeting mortgage fraud is that fraud, to be successful, needs to be carried out by individuals with a large degree of cunning. If they are cunning enough to pull off a successful mortgage scam, they are certainly clever enough to operate undetected for a considerable period of time. There are other reasons that a fraudster may pass undetected, though.

For one thing, there appears to be a lack of due diligence taking place when it comes to mortgage applications, and this is allowing all sorts of initiatives by the fraudsters to take place. In one example half a decade ago, a couple living in a condo in Toronto found that they had been the victims of a scam which had seemingly resulted in their condo being mortgaged in their name and then sold out from beneath them. This had been achieved because the scam artists had managed to gather together enough real-looking fake documents to back up their story. A cursory check of the documents and a few questions later, and the fraudsters were walking away with a million dollars.

In many cases the fraud which is committed – and which the individuals have escaped from scot free – could be prevented with something as simple as a visit from the bank to the people whose name and address is on the documentation. Someone showing up at their door saying “I’m here to value your house for the remortgage you have applied for” would raise alarm bells instantly that the householders had been victims of identity theft. Mortgage scams, and any other mode of fraud, however, are probably crimes to which their will never be a complete antidote, as fraudsters are generally resourceful, resilient individuals. As soon as a loophole is closed, another opens.

Mortgage fraud never used to be such a problem, due in no small part to the fact that to take out a mortgage it was once necessary to attend the lending bank in person in order to sign the necessary documents and supply all the identification needed. These days, with the Internet and telephone playing such a large part in application processes, this is no longer the case, and it has ironically made mortgage fraud easier to commit in a supposedly security-conscious age.

Of course, there are other cases where the person taking out the mortgage really is who they say they are, and they do intend to use the money to buy a house. The problem is that they use incorrect information and occasionally direct lies in order to secure better terms on a loan – a loan which, due to their income, they generally cannot afford to pay off.

More Articles:

Mortgage Archive

Canada’s Personal Finance Blog

How To Get The Best Mortgage Quotes?

What Is A Mortgage Payment Schedule?

Consequences Of Lying On Mortgage Application

What is A Secured Credit Card?

  Secured Credit Card

A secured Credit Card is a type of credit card for which you are required to deposit (meaning you are securing this money) cash money with the credit card issuer. This cash deposit becomes collateral and acts as your credit line or credit limit. If you have no credit history, want to rebuild credit history, or new to the country, a secured credit card can help you build a positive credit history.

Not all financial institutions offer secure credit cards. There may be many terms and conditions attached to secure credit. Do your research and make an informed, educated decision before obtaining any secure credit card. Here are some points to keep in mind:

• Look out for higher interest rates and annual fees. Research and shop for the best deal you can get. Use these keyword phrases to research for deals: “secure credit card Canada”
• Your deposit should earn interest the same way as a savings account or a GIC (Guaranteed Income Certificate).
• Beware of secure credit card scams. Do not accept any offer from non- recognized brand names. Beware of any secure credit offer from a foreign country.
• You can also try to apply for a retail store or gasoline company credit card.
• Ask at your local bank if they can arrange a credit card for you. Often your local bank can offer you a credit card as part of a package deal.

One you have obtained a secured credit card, pay off your balance each month in full and that should start building a solid credit history for you. Once you are able to obtain a regular credit card, cancel your secure credit card as there is no point in keeping it anymore. Here are some links that will prove helpful in researching your secure credit card:

30 Free Canadian Financial Tools and Calculators

10 Free Canadian Personal Finance Tools

13 Free Canadian Personal Finance eBooks

Canada Personal Finance Blog

India And China Economies Continue To Grow

The Robust Economies of China and India

With the global recession in full swing, though showing some signs of recovery, the economies of India and China continue to grow.  Some argue that, in fact, India and China, with their more robust economies, are floating the worldwide economy, boosting the global recovery almost single-handedly.  Other economists predict that China will surpass the United States as an economic superpower within the decade, and still others predict that same achievement for India.  Both China and India are, to be certain, becoming global economic ‘big players,’ albeit in very different ways, and under differing governmental structures.

Right now, most economists agree that in global economic standing, the United States is above Japan and China, respectively.  India is placing in the top twenty, at position twelve.  China, despite its growth, still has a long way to go before it may surpass the United States; 2008 GDP (gross domestic product – a figure that measures all the economic outlays of a particular organization, government, and so forth) for the United States stood at the top of the heap at 14 trillion.  How do other countries stack up, particularly China and India?

World Top Economies by GDP 2008

1. United States $14 trillion
2. Japan  $5 trillion
3. China  $4.4 trillion
4. Germany $3.6 trillion
5. France $2.8 trillion
6. United Kingdom $2.6 trillion
7. Italy  $2.3 trillion
8. Russia $1.7 trillion
9. Spain $1.7 trillion
10. Brazil  $1.6 trillion
11. Canada $1.5 trillion
12. India  $1.2 trillion

NB – Figures are rounded. Source: CIA World factbook.

The point in the prediction of the growing might of the economies of China and India is not their current standing as much as that the global GDP has slowed in recent years (thus the term, worldwide recession) whereas the economies of China and India have grown, despite the realities of the worldwide economy. 

One indicator that most of us can understand is automobile sales.  Long a “canary in the coalmine” type of economic barometer; when consumers perceive the economy as ’strong,’ they purchase big ticket items, such as cars (which, outside of a home, are usually the largest single expense that an individual undergoes).  As one of the richest nations on earth, the United States has long led this economic indicator, but next year it is predicted that China will surpass the United States by being the car-buying powerhouse of the world.  With its growth rate at an average of between 7 and 8% (depending on the report that you read), compared to the United States’ predicted growth rate of just over 1%, it should come as no surprise that China may exceed the United States within our lifetimes.

India, as well, shows a high growth rate for the upcoming years.  Currently far below China, and even further below the United States, but with one of the highest populations in the world, India’s GDP is still impressive considering the abject poverty and low (in comparison) wages.  Primarily a service based economy (almost 60% of India’s economy is service-based), India’s economy shows great potential for growth with its massive population, and extremely high knowledge base.  Most economists predict that by 2020, India will be among the top economies of the world. 

China and India are certainly worth watching as the economic world continues to diversify and becomes more complex. 

More Chine – India Articles:

China India Archive

China-THE Superpower of the Future?

Chinese Market Set To Rebound

China And India In The Next 20 Years

Canada Seeks To Expand Trade and Economic Ties With China