Is Fear Keeping You Out Of The Stock Market?
The biggest concern for many investors is the fear of losing their money. The stock markets have shown some volatility the last week or so, and the recent screaming headlines in the financial media do nothing but encourage panic. Some people think the latest bull market has overvalued stocks and a major market meltdown is…
Read MoreLife Insurance Options For Seniors: How To Avoid Getting Screwed
Ella Beck bought a life insurance policy shortly after her husband died in 2007. She was 71 at the time and concerned about burdening her sons with her own eventual funeral costs. Spotting an ad on TV – one of those ‘no medical exam, no questions asked, guaranteed acceptance’ policies – the grieving widow purchased…
Read MoreWeekend Reading: Family Day Edition
Happy Family Day weekend, everyone! This edition of weekend reading includes an introduction to a great new money series on Global, some shoddy life-insurance advice that got BMO into hot-water, a new book from retirement expert Fred Vettese, and why market volatility shouldn’t scare off novice investors. Last year we spent much of Family Day…
Read MoreHow Retirees Can Make Good Use Of TFSAs
Young people can take advantage of decades of TFSA contribution room to accumulate enough savings to be well positioned for retirement when the time comes. But for those close to, or already in retirement, TFSAs have not been around long enough to be a large portion of retirement savings. It’s more likely that you have…
Read MoreClaiming Your Investment Expenses
You can save on your taxes by claiming certain investment expenses which can reduce your taxable income. You can claim some direct costs related to your investing as well as interest on investment loans. Claiming Investment Expenses Claim these direct costs If you use an investment advisor to buy and sell investments, you can claim…
Read MoreWeekend Reading: Hamburgers Are On Sale Edition
During the tech-stock meltdown at the beginning of the century, legendary investor Warren Buffett served up this famous stock market analogy: “To refer to a personal taste of mine, I’m going to buy hamburgers the rest of my life. When hamburgers go down in price, we sing the ‘Hallelujah Chorus’ in the Buffett household. When…
Read MoreDetermining Your Cash Flow In Retirement
If your retirement date is approaching, are you ready for this major life change? Your regular paycheque will be ending, and your income must come from other sources. By now you should have some idea of how you’d like to spend your retirement – what activities you will enjoy; where you will want to live.…
Read MoreWorst Day Ever?
Will Monday February 5th go down as the worst day ever for stocks? On this day the Dow Jones industrial average lost more than 1,175 points – the worst single-day point drop in its history. But was it really the worst day ever? Investors need some context. The 1,175 point drop was indeed the biggest…
Read MoreWeekend Reading: Frustrating Financial Beliefs Edition
It’s RRSP season, a time to consider topping up your contributions to build your nest egg and reduce your taxes owning for 2017. RRSPs are a useful tax-planning tool and one of the most effective ways to save for retirement. But some retirees don’t see it that way now that they’re in the withdrawal phase…
Read MoreFebruary Is A Good Month To Do These Things
February is a busy month for your personal finances. You start to think about taxes, RRSP contributions, and making good on those January resolutions. Here are a few items to consider this month. February is a good month to… 1. Get prepared for tax season You should be starting to receive your T-slips this month.…
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