Posts by Boomer
Do 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 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 MoreShould You Sell The Family Home?
Another disadvantage when considering downsizing your home is that even a smaller house will not cost that much less than the one I have now.
Read MoreEscape To The Countryside
I regularly watch a program on BBC-Canada called “Escape to the Country.” The show features couples and/or families that want to leave the grind of big city life to live in the country. Although the show is based in England, I find myself fascinated by the idea of country living. I have lived in the city all my life…
Read MoreHow Risky Should You Get With Your TFSA?
I read an interesting article titled, “Do Risky Assets Belong in a TFSA?” (Canadian MoneySaver – March/April 2014). The author compares purchasing a GIC paying a guaranteed 2% a year with a risky ETF tracking the TSX with an expected average return of 6%, but which could result in returns ranging from a gain of…
Read More5 Financial Tips For High School Graduates
Congratulations! You’ve finally made it! Another graduation season is wrapping up. You’ve listened to an inspiring valedictorian speech, the caps have been tossed, and you’ve partied all night at prom. Perhaps you’ve lined up a lucrative summer job and have been accepted at your chosen post-secondary educational institution. There are exciting days ahead. Related: The…
Read MoreTaxes And Your Investment Income
Now that the tax deadline has come and gone, it’s a good idea to review your return to identify any missed opportunities and changes you may be able to make this year. In particular, you should look at your investments to make sure they are still meeting your needs in a tax efficient manner. Taxes…
Read MoreWhy Tax Free Savings Accounts Are Still Misunderstood
The 2008 Federal budget introduced the new investment vehicle called the “Tax Free Savings Account.” It allows Canadians aged 18 and over to contribute the dollar limit for the year, plus any unused contribution room from previous years and any amount you withdrew the year before. Starting in 2009, contribution room accumulates every year. The…
Read More5 Questions To Ask Your Money Manager
Many investors are making the decision to manage their own investments. In fact, they can do very well with an index mutual fund or basic ETF portfolio and a consistent, systematic contribution plan. But not everyone wants to “do it themselves.” What if indexing is not your thing? You may have accumulated a substantial balance…
Read MoreDoes My Bank Deserve My Loyalty?
We’ve finally taken the plunge and sold our house and will be moving to another province. There are a lot of changes in store and details to think about, but luckily I’m a list maker and I have every eventuality covered. One issue I’ve been contemplating is whether to make a clean break with my…
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