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How to overcome the post-holiday credit card blues
5 tips for putting credit cards on a leash Starting with Black Friday in November and ending with Boxing Day in December, the holiday spending season is just about guaranteed to stretch the use of your credit cards. And come the end of January, you may be singing...
Four investing mistakes to avoid in 2019
Novices especially prone to classic investment pitfalls Markets go through periods of volatility, and we are in one such period now. Market sentiment has been decidedly sour for the past few weeks. The Dow Jones Industrial Average recently sank into correction...
Year-end tax and investment planning tips
They could save you a bundle Even though most of us are preoccupied with other things at this time of year, there is a handful of year-end investment and tax tips that make a lot of sense to look at now. That’s because they could save you money now and next April,...
Is $1 million enough to retire on?
Let’s say you’ve accumulated a nest egg of $1 million at age 65, through pension plans, perhaps a significant RRSP, TFSA contributions, some inheritances, and possibly some money left over from downsizing your home. You’re ready to retire, and you have to decide...
How to retire with $1 million
Reach that magic number even if you start at 40 It’s sometimes said that you need at least a $1 million retirement fund to maintain the kind of lifestyle you want after age 65. But starting at, say, age 40, can that even be done? The good news is that it is...
Black Friday binge, Red Monday remorse
Financial literacy and the art of budgeting Black Friday. It’s become a pop culture phenomenon. In fact, it’s one of the cleverest marketing gimmicks of all time. For U.S. retailers, the Friday after U.S. Thanksgiving Day has typically been the day they become...
LIRAs are truly locked up
These accounts are designed for pension income When you leave an employer where you had a pension plan, the funds in the plan are transferred to a Locked-In Retirement Account. At times they may also be transferred into a locked-in RRSP. Essentially, these are a...
How inflation makes your money disappear
Protect your portfolio against inflation erosion The Bank of Canada raised its interest rate to 1.75% on Oct. 24. It said that CPI inflation dropped to 2.2% in September, but that its core measures remain around 2%. For many novice investors, this may sound like a...
A business of her own
What successful businesswomen know about start-ups Many women dream of starting their own business. And there are plenty of advantages. First, you are your own boss, and in control of your own destiny. Then, you get to produce that product or service that no one...
Putting a price tag on your dream home
Crunch the numbers before you make an offer The big question for young couples just starting out is whether to move out of that downtown condo unit and borrow to buy a home. This becomes especially critical if you’re planning a family or if a baby is already on the...
Post-divorce financial planning
Four key areas to focus on to make the settlement last Once a divorce settlement is finalized, the next step is to make that settlement last. But how? What are the next steps in financial planning? Should you keep the same financial advisors and investment...
DIY dangers!
When your investments take control of you There’s nothing quite like the thrill of managing your own investments. That is, until things go south and you wonder whatever possessed you to buy that two-times daily bull crude oil ETF! Then there’s all that paperwork to...