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Money Makeover: This affluent couple can easily regain their financial footing
Robyn Thompson is regularly featured in The Toronto Star’s “Money Makeover” series by Deanne Gage. This month, Money Makeover takes a look at Janaya and Richard, an affluent couple with two young children. But they have a low-performance investment portfolio with a...
Sell in May and go away? Not so fast!
Seasonal patterns can be misleading “Sell in May, go away, and don’t come back till Labour Day.” With the return of volatility earlier this year after many years of an uninterrupted bull market, many analysts are warning that the stock market is due for a...
No, investing is not “free”
The real cost of investing in mutual funds and ETFs The way the marketing hype has it these days, you’d think investment costs have dropped to zero. What with all the do-it-yourself platforms out there hawking their black boxes and promising, at least implicitly,...
Essentials of family financial planning
Key areas to focus on for creating a workable plan “Why even bother with family financial planning?” I’m asked that question frequently. After all, the money comes in, the money goes out. The kids have to go to some practice or other. Then there’s the grocery...
Use a TFSA to create tax-free money
Pay no tax on investments or withdrawals The Canada Revenue Agency (CRA) confirmed that the annual contribution limit for Tax-Free Savings Accounts (TFSA) will remain unchanged at $5,500 for 2018, bringing total contribution room available since the introduction of...
Don’t overlook these deductions and credits!
They could help cut your tax bill Tax-filing season is here, and the deadline for filing your tax return is April 30. There are in fact some 94 personal tax deductions and credits available. Not all apply to everyone. And many are often overlooked, even if they do...
Stressed out over mortgages stress test?
Know the rules before you sign on the dotted line If you’ve been shopping for a mortgage for your new home, you probably have run across something called a “stress test.” It raises the bar on your financial health a lot higher before you can qualify for a mortgage...
Individual Pension Plans supercharge retirement savings for high net worth professionals
IPPs must follow pension rules If you are a business owner or executive, or an incorporated professional (physician, dentist, lawyer, accountant, and so on), and you’re looking to enhance your retirement savings, you might think about setting up an Individual...
How to take advantage of the Home Buyer’s Plan
A source of funds for first-time home buyers Looking for a source of funds as a down payment on your first home? If you have a good chunk of money sitting in your Registered Retirement Savings Plan (RRSP), you may be eligible to use some of it towards the purchase...
Money Makeover: Will Charlotte run out of money in retirement?
Robyn Thompson is regularly featured in The Toronto Star’s “Money Makeover” series by Deanne Gage. This month, Money Makeover takes a look at Charlotte, a single public relations professional in her mid-forties who is planning on retiring in 20 years. She says she...
Beware the investment scam con game!
How to know if you’re the target of a fraud attempt March is fraud prevention month, and it’s a great time to remind readers that the financial sea is full of sharks, circling the naïve and unprepared, and ready to take you for every cent you’ve got. The bad guys...
RRSP contribution rules
Still the most effective retirement savings plan there is The Registered Retirement Savings Plan (RRSP) is still the most effective retirement saving and tax deferral vehicle available to Canadians. Because it’s such a powerful savings tool, it makes sense for...