Posts by Boomer
Have You Been Regifted?
The Christmas gift from your sister Barb is beautifully wrapped and beribboned. The card attached to the outside includes a thoughtful note. Tucked inside the box is a small envelope with a Bridal Shower card inside it. The envelope is addressed to Barb, and inside is a card signed by Shelley. You have been regifted,…
Read MoreHow To Calculate Capital Gains And Adjusted Cost Base (ACB)
Capital gains are profits you earn through buying and selling capital assets. These include, but are not limited to, stocks, mutual funds and bonds. In the US, the IRS estimated that it was losing $11 billion per year in tax revenue by taxpayers misreporting their capital gains. As a result, in 2011 they implemented new…
Read MoreInvesting In Collectibles
Some people have become disenchanted with conventional investments. With uncertain stock returns and low interest rates many are switching to such unconventional assets such as art and collectibles. Is art an asset or investment? Art as an investment has been considered an interesting and profitable alternative. Art sales are thriving, with buyers eager to own…
Read MoreCreate A Retirement Income Plan
When you walk out of your place of employment for the last time it can feel kind of scary financially. You’ll no longer be receiving the income you’re accustomed to. There’s also the fear of not having enough savings to last the rest of your life. Where will your retirement income come from? Will you…
Read MoreWhat If Your Tax Return Is Reassessed?
More taxpayers are receiving a Notice of Reassessment than ever before. A new tax assessment unit was set up last year that works from September to March to check for things that were missed in the first regular audit and compare returns to third party sources. This new group focuses on specific areas such as:…
Read MoreAre Children’s Extracurricular Activities Worth It?
12-year old Brittanie is supposed to be practicing her piano lessons. Instead she’s playing catch with the dog. “Play,” yells her mother, “I’m not paying 50 bucks a week for you to take piano if you’re not going to practice.” Sometimes parents feel like drill sergeants when their children loaf around instead of concentrating on…
Read More5 Common Myths About RRSPs
RRSPs have been around for several decades enabling investors to save for their retirement while deferring taxes paid. Everybody knows the rules by now – or do they? Here are some common myths and misconceptions about RRSPs. RRSP Myths Myth #1: You have to be over the age of 18 to contribute to an RRSP.…
Read MoreHow To Save Money By Going Green
While big corporations and governments can have a big impact on the environment – for better or for worse – individual efforts to “go green” can add up too. Here’s how to save money by going green: Reducing Your Environmental Footprint You can reduce your environmental footprint and make the planet a cleaner, healthier place…
Read MoreGive Your Money Time To Grow
Try this question out on your friends – or your children. If you were to choose to get either $1,000 a day for 30 days or a penny on the first day and then double your money every day for 30 days, which would you choose? Most people will begin to silently add up the…
Read MoreWhy Today’s Appliances Look Good, But Don’t Last
When we got married several decades ago I received the usual assortment of small appliances as wedding gifts. I remember those Harvest Gold appliances fondly, and they lasted a surprisingly long time. In fact I still own some. So why is it that the replacements have to be replaced again every couple of years? Suspiciously,…
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