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A quick course on RESP payments
How to withdraw funds for post-secondary expenses If you have kids going off to college or university this fall, and you’ve accumulated substantial savings in a Registered Education Savings Plan, now’s the time to tap into those funds. But you won’t be able to use...
First steps to post-divorce financial planning
Regaining financial independence is as easy as 1-2-3 Although it may not feel like it while it’s happening, you can achieve financial empowerment after a divorce. But you will need to take charge of your personal finances, even if you haven’t been accustomed to...
How to guard against financial disaster
Critical illness and disability insurance essential for businesspeople After you’ve worked so hard to build a successful business, the thought of losing it to disability or illness is something every entrepreneur needs to think about long and hard. There are two...
Yes, there are higher-yielding investments
But remember: higher yield means more risk If you’ve been looking at conventional interest-bearing investments, you’re bound to be disappointed. Savings accounts are money-losing black holes. Guaranteed investment certificates and money market funds yield next to...
The high cost of ‘guaranteed’ investment products
Paying a premium for market-linked GICs and segregated funds Q: With stock markets showing more volatility this summer, I’m a little concerned that there may be a correction ahead. But I’m reluctant to get out of stocks completely, because the return on...
Time to use the HBP to crack open the RRSP?
First-time home buyers can use RRSP funds to top up their down payment Now that the Bank of Canada has cut its benchmark interest rate to 0.5%, it looks like mortgage rates will also fall. But the government may try to head off a real estate market bubble by...
Is your portfolio outperforming the index?
How to choose the right portfolio benchmark Does your portfolio consistently underperform the S&P/TSX Composite? If so, it might not be a reflection of your investment skills. You might just be using the wrong benchmark. A benchmark is an independent standard...
What to do when the taxman wants more
Yes, you can object to a CRA reassessment If you have received a Notice of Reassessment for your 2014 return from the Canada Revenue Agency demanding more tax or asking you to start quarterly instalment payments, you may have double trouble with the CRA. Here’s...
Cut your tax bill when selling that piece of paradise
How cottage improvements can save you a bundle in taxes Thinking of selling your cottage? If your cottage or recreational property is not your principal residence – and for most people, it’s not – when you sell it, you’ll pay capital gains tax on any appreciation...
Time to lock in low mortgage rates?
A mortgage rate hike could put you in a cash crunch If you currently have a fairly large variable-rate mortgage on your home, it’s probably set at a very low rate, which makes your monthly payments affordable. But with interest rates apparently ready to rise, is...
Can Brian swing into retirement?
Robyn Thompson is regularly featured in The Toronto Star’s “Money Makeover” series by Deanne Gage. Money Makeover takes a look at Brian who is in his mid-50s and has lost his job. He has a lot of assets and wonders if he can...
How best to draw income from your retirement savings
Robyn Thompson is featured in the Globe and Mail, in an Investment article by Joel Schlesinger. In this article, Robyn recommends a strong strategy in order to effectively draw income from retirement...