Archive for May 2016
Weekend Reading: A Surprising Bank Freebie Edition
It’s unusual for a big bank to go out of its way to offer something for free but to my surprise that’s exactly what happened when I called TD Direct Investing this week. You see, before I sold all of my individual stocks and moved to a two-ETF portfolio at the beginning of last year, I had…
Read MoreUsing Your House For Income
The majority of Canadian seniors consistently report that they prefer to remain in their family home, in their current neighbourhood, and close to family and friends, for as long as possible. Yet, many also say that financial challenges are the biggest hurdle in doing so. A mortgage-free home is usually one’s biggest single asset. Here are…
Read MorePros and Cons of Getting a Personal Loan
Back in my banking days, with the exception of mortgages, personal loans were the go-to mainstay of lending. Our promotional material stated, “we can give you a loan for any worthwhile purpose – vacation, wedding, appliances, new car.” (Please, don’t shoot this messenger – that’s the way it was.) One of the most common reasons…
Read MorePriced Out: Why It’s Crazy To Buy A Home In Vancouver Or Toronto
When central and southern Alberta experienced catastrophic flooding in June 2013 there were 32 states of emergency declared and over 100,000 people displaced throughout the region. Reports of price gouging at various retailers surfaced on social media; one story in particular claimed that an unscrupulous Calgary retailer was selling individual bags of ice for $20. Given the urgency…
Read MoreWeekend Reading: Fort McMurray Edition
Our hearts go out to the residents of Fort McMurray who earlier this week were forced to abandon their homes and flee the city as a massive wildfire continues to devastate the northern Alberta community. The fire, which is said could double in size by Saturday, has sent 80,000 evacuees to nearby work-camps, hotels, and recreation centres in…
Read MoreWhy 30 Year Olds Aren’t Screwed
Five years ago, financial blowhard advisor Kurt Rosentreter published a newsletter with the daunting title, “Canadian 30 Year Olds Are Screwed.” The author displayed the kind of “get off my lawn” finger wagging attitude all too common in generational wars; using ridiculous and patronizing claims like, “people spend more time on the Internet than their finances,”…
Read MoreShopping Beyond Your Means
I enjoy reading the Shopaholic series of books by Sophie Kinsella. As a confirmed “under-buyer,” I am the exact opposite of compulsive shopper Becky Bloomwood Brandon, so I can chuckle at her antics as she shops her way through designer boutiques with her overextended credit cards and overdrafts. Eventually, the books end with our heroine…
Read More11 Model Portfolios To Simplify Your Investments
Using a robo-advisor can be a great way to lower your investment costs, diversify your portfolio, and reduce the time you spend worrying about investing. But if you’re a DIY investor like me then you can lower your costs even further by building a portfolio of index funds or ETFs on your own. Here are…
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