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Markets will fluctuate, so don’t panic!
Trading by headline is a sure way to lose money Q – I have both mutual funds and exchange-traded funds in a self directed brokerage account. They’ve suffered some pretty big losses over the past couple of weeks. Should I be selling my equity funds and switching to...
Thinking of bonds as stocks stagger?
Bonds offer safe haven, but learn the ropes before you jump in Q – With the stock market plunging, I have been looking to invest in something a bit safer. So I’ve been considering either bonds or bonds funds. What are the risks of investing in bonds? – Asked by...
More diversification is not always better
Robyn Thompson is regularly featured in The Toronto Star’s “Money Makeover” series by Deanne Gage. In this recent post, Robyn helps a couple in their mid-fifties who have amassed $1.3 million in investments, but still need to pay off a loan and clean up and...
Maximize government pension benefits
Robyn Thompson is regularly featured in The Toronto Star’s “Monday Makeover” series by Deanne Gage. In this recent post, Robyn helps a cash-strapped couple maximize government benefits they’ve forgotten...
When to turn on your retirement income stream
There’s more to it than just dipping into your savings accounts Q – My husband and I are both 45 and set to retire in 15 years. We have the majority of our money invested in mutual funds divided between RRSPs and cash accounts. We are looking to do some planning...
Five rules for setting up an investment plan
Start with the basics, and the rest falls into place Q – I am a self-directed investor and mainly trade stocks through an online brokerage service. Do you have any tips for a novice on how to set up a plan to become a successful investor? – Asked by Terri W., Fort...
Yes, you can survive divorce and prosper!
How the newly-single woman can stay financially fit Q – I am going through a divorce, and I know I need to take charge of my financial future. But I have no idea where to start. Can you help? – Marcia L., Winnipeg, Manitoba A – First of all, don’t fret! As a...
Take your money and run!
How bank deposits are costing you and what to do about it Thinking of saving a few bucks with your local bank? Forget it! The days of putting a little something aside in your “savings” account are long gone. That’s because these days, you’re earning just about...
How to get Goldilocks financial advice
Not too much, not too little, but just right When it comes to financial advice, many people suffer from Gordon Ramsay syndrome. That’s my term for those who have far too many financial cooks in the kitchen, and who end up listening to the one who shouts the...
Do you really need critical illness insurance?
Get adequate life and disability coverage first Critical illness insurance has become quite popular in the past few years. But do you really need it? I’m often asked this by younger professionals with high incomes and new families. What if something were to happen...
Why don’t you have a TFSA?
It’s simply the single best (legal) way to beat the taxman If you don’t have a Tax-Free Savings Account (TFSA) yet, what’s holding you back? It’s quite possibly the best tax shelter now available to Canadians, and it will only get better over time. Almost everyone...
The ABCs of back-to-school tax breaks
Use RESPs and tax credits to offset high tuition costs Getting kids off to that first year of university or college is a big move in more ways than one. It’s exciting and stressful and emotional – and that’s just for the parents! As the universities like to remind...