Archive for October 2014
Weekend Reading: Family Tax Cut Edition
Big news out of Ottawa this week as the Harper regime unveiled its long-awaited (and controversial) plan for family income-splitting. The Conservatives announced that couples with children under 18 will be allowed to transfer up to $50,000 in income from the higher earner to the lower earner in the form of a non-refundable federal tax…
Read MoreDIY Wills – Are They Ever A Good Idea?
56% of Canadians don’t have a signed will. What makes people avoid this necessary estate-planning document? Is it the cost? Law firms typically charge $500 to $1000 for a basic will. Or, they just don’t have the time to get around to it. You have to find a lawyer, make an appointment during their business…
Read MoreBorrowing To Invest: What The Experts Have To Say
Warren Buffett famously said that investors should “be fearful when others are greedy and greedy when others are fearful.” Yet one look at statistics on leveraged investing suggests that we do the exact opposite: Investors have borrowed more money than ever to buy into this post-financial crisis bull market. Leverage can be a powerful tool in…
Read MoreBudgets, Cash Flow Plans, and Spending. Yawn.
I know, I know. Budgets just sound like Remedial Personal Finance, don’t they? Everyone knows you’re supposed to budget, so what’s the point of another 800 words or so on the topic, right? There’s even a vague feeling that once you reach a certain point – either of knowledge, or income, or net worth –…
Read MoreThe Benefit Of Cash Back Rewards
I’ve been a fan of cash back rewards for many years, and here’s why: With cash back, you’ll know exactly how much your points are worth, plus redeeming your rewards is easy. Most cash back credit cards offer you the choice of a statement credit or a cheque in the mail, giving you full control…
Read MoreWhat Are You Doing With This Stock Market Pullback?
The current stock market turmoil has prompted many investors to re-think their investment approach. Should I buy on this dip, or wait for the bottom to hit? Is this a good time to sell and take profits? What about the long-term economic outlook? Should I buy more oil & gas stocks? It’s easy to stick…
Read MoreWhy We Are Secretive About Our Money
“Money is a dangerous subject. Polite conversation avoids it. You may talk about economics, but not raw money.” – Max Plowman (1883 – 1941) People are generally quite gregarious. We interact all the time and continually seek out the company and approval of others. We talk about a variety of topics that would have been taboo…
Read MoreCould A Lottery Help Boost Our Savings Rate?
In their best selling book, Freakonomics, and its sequel Superfreakonomics, economist Steven Levitt and writer Stephen Dubner used unconventional analysis and creative storytelling to tackle problems like high crime rates, low test scores, and global warming. Related: My 20 favourite business books Their latest work – Think Like a Freak – takes us inside their…
Read MoreWeekend Reading: Stock Market Dive Edition
It’s been a rough ride for the stock market this month – the TSX is down more than seven percent in the last 30 days – leading to speculation that we’re headed for another big correction or crash. It’s been all uphill for investors over the last five years, so any blip on the radar…
Read MoreManaging Your Portfolio: How Many Stocks Should You Own?
A few days ago while my husband was watching interminable football game (after game, after game), I was scrolling through various financial sites and came across some interesting articles asking how many stocks should you own in your portfolio. Some advisors say no more than 10. Some say that 20 to 25 would give good diversification…
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