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Don’t neglect your RRSP!
Here’s what you can contribute to get a tax deduction We’ve heard much about the Trudeau Liberal government’s rollback of Tax-Free Savings Account contribution limits. We’ve haven’t heard so much about Registered Retirement Savings Plans (RRSPs). And that’s a good...
Snowbirds are vulnerable to mortgage fraud
Title insurance can protect you while you’re away If you typically spend the winter months in the sunny south somewhere, your Canadian home is likely to be unoccupied. That could leave you open to mortgage fraud (even though you might not have had a mortgage on the...
The 7 sins of financial planning
Avoid these money mistakes for a more successful 2016 At this time of the year, I’m often asked what I consider to be the most common financial and planning errors most people make. Over the years, I’ve boiled it down to the seven deadly sins of financial planning....
Resolve to get your financial chaos under control in 2016
A few basic tips to help you get started Do you have good intentions at the beginning of each year, but find that by New Year’s Eve, your finances and investments are still in a disorganized mess? If so, I have a few suggestions to help you start getting your money...
Do you have enough eggs in your basket?
The danger of under-diversifying your portfolio How can you tell if your portfolio is properly diversified? A prospective client asked me to review an investment portfolio of several hundred thousand dollars consisting of two big holdings: iShares Canadian Growth...
How to get year-end TFSA information from the CRA
It’s available, but forget about calling Still looking to contribute to a Tax-Free Savings Account before the end of the year? If you’re not sure how much contribution room you have available for this year, you’ll have to do some digging. Unlike RRSP contribution...
They’ve handled one surprise. Could they handle another?
Robyn Thompson is regularly featured in The Toronto Star’s “Money Makeover” series by Deanne Gage. Money Makeover takes a look at Zachary and Diana, both 50; and five years ago, Diana was diagnosed with multiple sclerosis. The couple worries about their future once...
Year-end personal planning tips
Time’s running out for these 4 financial strategies It’s already getting rather late in the year to set up financial strategies that will have a tax-saving or other impact for 2015. However, there are a number of items you can attend to before the year is out,...
TFSA contribution confusion
Should you max out the $10,000 contribution for 2015? Tax-Free Savings Accounts (TFSAs) sound simple. But they’re not. There’s an array of rules and regulations involved. One of the most common questions I’m asked is whether you would lose this year’s contribution...
Is your portfolio a risk trap?
How to get a fix on portfolio holdings before it’s too late! Do-it-yourself investors who have a number of different investment accounts could be courting financial trouble. Unless you have a complete picture of how all your assets are allocated, your investment...
How high net worth families can cut the tax pain
Income-splitting investment loans to family members High net worth taxpayers in the top income brackets can still cut the tax hit on high-yielding investment returns. Yes, it means becoming a lender, usually to a lower- or no-income spouse, but the tax savings can...
How to avoid losing money as a newbie investor
10 first steps to investment planning Opening an investment account is relatively easy. What’s not so easy is how to proceed with investment planning, so you don’t immediately lose what’s in your account. So here’s my list of 10 basic investment and money...