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...
Q – In March, I will turn 71. What happens to my RRSP? Do I need to withdraw the entire amount? – George B., Paris, Ontario A – The rules state that by the end of the year in which you turn 71 (this is the year for you, George), you will need to collapse your RRSP....
Q – I am trying to figure out how to reduce my income taxes, so that I can invest more in my RRSP. Is there anything I can do now to reduce my 2011 tax bill, or is it too late? – Lisa R., Virgil, Ontario A – There are a few ways that you might still be able to save...
Q – I have a financial advisor. How do I know that I am getting value for my money? – Robin H., Toronto, Ontario A – There’s no easy answer to this question. As advisors, we aim to provide a valuable service to individuals seeking to make sense of what can be a very...
Q – I am a procrastinator when it comes to contributing to my RRSPs. Every year, I make my contribution on the very last day. Do you have any tips so that I don’t find myself doing this again next year? – Lillian G., Winnipeg, Manitoba A – I urge my clients to make...
Q – I am looking for yield and have heard about REITs. How risky is this asset class? – Eileen T., Waterdown, Ontario A – Real Estate Investment Trusts, or REITs, are specially-structured trust securities that trade on stock exchanges like any other stock. REITs...
Q – Is it true that an index mutual fund offers no chance of beating the market? Isn’t the point of such funds, including exchange-traded funds, to track the market? – Dylan S., Simcoe, Ontario A – The simple answer is yes. An index mutual fund will not beat the...
Q – At the end of each year, I look back at my investment statements and regret that I did not start my financial planning at the start of the year. Do you have any tips on how to start the year off right? – Don D., Lakefield, Ontario A – The beginning of the New Year...
Q – I am married, with two children, and both my husband I work full time. We have small life insurance policies through our employers, but we are looking to increase our coverage and add critical illness protection. We have looked at critical illness polices in the...
Q – I am 32 and own my home. I have just started to look at building an investment strategy, and I am looking into asset classes. I know the general theory of splitting assets broadly between fixed income and equity. My question is about real estate as an investment...
Q – I am a single working mother and would like to put an investment plan or saving plan in place for emergencies. My friend’s daughter was just diagnosed with cancer, and they are now near financial ruin trying to cover the unexpected time off work and travel...
Q – My mutual fund portfolio is fairly balanced. I trade off and on but stick to a buy-and-hold strategy for the most part. How often do you recommend rebalancing my portfolio? Sharon T., Toronto, Ontario A – When you invest in mutual funds you are investing in the...