Q – I am worried about protecting my income during retirement. At the same time, I want to leave something to my grandchildren in my will. I’ve heard that annuities can provide a guaranteed stream of income. But once the annuity is paid out, there won’t be much left...
Q – We’ve often heard the old market saying, “Sell in May and go away.” What is your opinion about this? Do you recommend it as a strategy? – Mark N., Guelph, Ontario A – Catchy little bits of old market lore like this have become so ingrained that they’re often taken...
Q – My wife and I own our own home. We have been diligent about paying down our mortgage but at the cost of investing in the equity markets. Our house is fully paid for now, and we are both in our mid-40s. What is your advice on how to start investing in the markets?...
Q – I am planning for my retirement and would like some advice on inflation. What rate of return should I aim for to cover inflation and still see some investment growth over the span of my retirement? – Candice S., Toronto, Ontario A – Inflation referrers to the...
Q – The markets seem to go in one direction these days – down. Is now the time to invest my money, or should I wait? – Craig R., East York, Ontario A – There’s actually no “right” answer to that question. When you invest your money in stocks, bonds, or mutual funds,...
Q – As an avid investor, I pay particular attention to my investment portfolio. I am looking at purchasing a life insurance policy as an investment. Do you recommend this? – Lyn H., North York A – There are many types of life insurance policies. “Term-life” policies,...
Q – I am 27 years old, just finished university, and I want to create an investment plan for my future. Where do I start? Thanks. Jim S., Toronto, Ontario A – The key is to know where you want to end up. I know this sounds like putting the cart before the horse, but...
Q – I am single and in my early 30s. I hope to one day settle down and get married, but as luck would have it, I have yet to meet my prince charming. Do you have any advice on how a single person can secure retirement and still be able to pay their mortgage? Ingrid....
Q – I’ve completed my tax return, and I actually had taxes owing. It was a shock, and I had to scrape up the money from funds that I had earmarked for other purposes. I don’t want to go through that again. What can I do now to reduce my tax burden for this year? –...
Q – What happens if I miss the tax-filing deadline? – Susan H., Uxbridge, Ontario A – The tax-filing deadline for your 2011 tax return is on or before April 30, 2012. If you’re self-employed, your return for 2011 has to be filed on or before June 15, 2012. However, if...
Q – I’m in the process of filing my 2011 tax return. Are there any tax breaks to help offset the cost of raising a family and going to work? – Ray S., Scarborough, Ontario A – In fact, there are a few deductions available. Here are the most popular ones: Childcare...
Q – I have had my mutual fund portfolio managed by an advisor for the past 10 years. His performance is disappointing, and by the time I pay fees, I am only ahead marginally. Recently, my portfolio has been in negative territory. I would like to try and manage my...