Archive for July 2014
Weekend Reading: Robo-Advisor Edition
The term “robo-advisor” refers to an online service that uses an algorithm to help you choose and manage your investments. Automated financial advice is already up and running in the U.S. and is now generating buzz in Canada as firms such as NestWealth, ShareOwner, and WealthSimple look to set up shop here. The service is based around clients…
Read MoreChoose A Credit Card That Fits Your Lifestyle
The ability to use credit cards wisely is one of the most important financial skills you can learn. Everyone has different habits when it comes to credit card use and no single approach is best. When we got married in the early 1970’s, my husband dealt with the Bank of Montreal which introduced the MasterCharge…
Read MoreHow Automation And Habit Combine To Produce Amazing Results
Recently I made a small change in my diet that had a big impact on my weight and overall health. At breakfast every day I would eat a whole bagel with peanut butter or cream cheese. The meal came to about 450 calories. A few months ago I cut that portion in half, eliminating 225 calories…
Read MoreFive Year GIC Ladder vs. One-Year Rolling Term: Smackdown
If you have long-term money in GICs, this post is for you. I know, rates are abysmal, and I’m not here to talk you into investing in mutual funds, or ETFs, or to buy bonds directly. If you’re comfortable with GICs, and you can meet your income or capital-preservation goals with them, then keep on…
Read MoreDo You Support A Guaranteed Minimum Income For Canadians?
Canada has quite a good system of helping to reduce poverty in our senior citizens. OAS is payable to most. GIS is available for low income seniors, plus every province and territory has a variety of support programs. But what about a guaranteed minimum income amount for all adults? This fall Swiss voters will vote…
Read MoreWhich Credit Cards Are Best For Earning Rewards?
One of the most frequent questions readers ask is which credit cards are best for earning rewards. Unfortunately, the most common answer is “it depends”. Do you prefer travel rewards or cash back? How much do you spend every month, and in which categories do you spend the most (i.e. groceries, gas, travel)? As for…
Read MoreDo You Need A Real Estate Agent to Sell Your Home?
Any real estate agent will tell you the service he or she provides is worth every penny. But in a hot real estate market like Toronto, do you really need one? According to the latest figures from the Toronto Real Estate Board, the average home sells in just 20 days, so you can see why some home…
Read MoreWhy Downsizing Might Not Save Your Retirement
A big decision as we get older is whether to downsize the family home. Typically people downsize when they no longer need the larger space, or are not willing to deal with the financial and physical maintenance required of a bigger home. Financial experts suggest that the large tax-exempt equity on the sale of their…
Read MoreA Simple Way To Boost Your Retirement Savings
One of the core tenets of financial planning is to pay yourself first. Automating your savings is a painless way to save for retirement and, in all likelihood, you’ll barely notice that you’re living on less. Most experts suggest putting away 10 percent of your income for retirement, but that number might seem out of…
Read MoreWeekend Reading: Cash Is King Edition
Fans of credit card rewards have seen a bunch of changes in the travel rewards space over the last 12 months, but not much has happened on the cash back side. That’s unfortunate because, in the battle for space in your wallet, banks and credit card issuers lost sight over what was really important to customers – how…
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