Posts by Boomer
How Safe Are Your Bank Deposits?
Canada is widely considered to have one of the safest banking systems in the world. The “Big 5” banks have proven to be safe and stable companies, both for depositors and stockholders, and neither have any worries about their money. Related: How Baby Boomers Changed The Banking Industry However, the 1980’s saw one of the…
Read MoreHave You Considered A Permanent Retirement Overseas? Read This:
Tired of shovelling snow, thousands of Canadians have decided to live in a warmer climate. We’re familiar with snowbirds, but there are many who are choosing to move permanently to somewhere nice and sunny – a place where the pace of life is slower and the quality of life higher. Why move? There can be…
Read MoreThe Diderot Effect – The Curse Of Upgrading Your Lifestyle
In the 18th century, French philosopher Denis Diderot received a gift of a beautiful scarlet dressing gown. I know it’s not something your typical guy today would get too excited about, but remember this was the 1700’s. In any case, he was delighted with his gift and promptly discarded his old dressing gown. Within a…
Read MoreAre Women Investors Too Conservative?
A recent survey by Desjardins Wealth Management found that 61% of women have a conservative investor profile. The results suggest that women take less risk than men and tend to prefer safer investment portfolios. Are women wired differently as the financial experts suggest? Do they lack confidence and knowledge? Related: 10 ways for women to…
Read MorePay For Advice Or Do It All Yourself?
Many investors these days have become disenchanted with their investment advisors who don’t keep in contact, sell a pre-determined model of products, and give abysmal service, not to mention their poor returns. They are deciding they can do a better job themselves. But how do you know you have the right skills to manage your…
Read MoreFraudulent Schemes That Target The Elderly
Fraud is the number one crime against older Canadians – hitting as many as one in five seniors – according to bankrate.com. People over the age of 65 are especially vulnerable to fraudulent schemes for a number of reasons: They often live alone and are home most of the day to answer the phone and…
Read MoreRetirement Polls And RRSP Season
When I worked in banking, January and February were known as the dreaded “RRSP Season”. It was the approximate equivalent of the retail “Christmas season” with long extended hours, lines of desperate people wanting a quick RRSP purchase, and the inevitable sales quotas. Related: How an RRSP loan turned my $12,000 contribution into $20,000 With…
Read MoreHow Are Your Investments Performing?
Choosing the right investments for your goals is just the beginning. You need to monitor their performance to see how you are progressing towards those goals. Many times investors look at their statements and check out the investment return. If the total has increased by say, 7 percent, from the last statement, they’re happy. On…
Read MoreHow To Get A Good Return On Your New Year’s Resolutions
Your New Year’s Resolution Resolve to renew all your old resolves, And add a few that are new. Resolve to keep them as long as you can. What more can a poor man do? – Early 20th century postcard The last day of the year is often a time for looking back to the past…
Read MoreA Calendar Of Saving Money
We consider ourselves to be smart shoppers – faithfully perusing store flyers, comparison shopping and checking prices online, downloading coupons and watching for deep discounts. Canadian retailers are getting on board with Black Friday sales like they have in the US, but Boxing Day is still the busiest day for bargain-hunting shoppers in Canada. Related:…
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