There are more sources of funds than you might think The Registered Retirement Savings Plan (RRSP) is the single most powerful tax-deferral vehicle available for Canadians saving for their retirement. That’s because contributions are tax-deductible in the year they...
Getting your investments back on track Stock markets were on a tear last year. The S&P/TSX Composite was up 21% in 2021, while the S&P 500 Composite Index rose 27%. But trouble may be brewing, with inflation still raging and interest rate hikes looming....
Make your resolutions now – get busy in January! It’s traditionally the time to make resolutions and make a fresh start in the New Year. And with the holiday spending bills coming in through January, it’s a great time to take control of your personal finances. Here...
Set a budget, make a list, and check it twice Holiday spending is on a roll this year. According to a survey by the Chartered Professional Accountants of Canada, Canadians expect to spend about $555 on gifts in 2021. And according to a recent FP Canada survey,...
There’s still time to save on 2021 taxes There’s still time before year-end to make a a few tax and investment moves that could save you tax for 2021. But you have to act before Dec. 31 to take full advantage. Year-end payments There are a number of payments you...
First steps to financial literacy We are becoming an increasingly cashless society. And where we once taught our kids about money by “saving their pennies” in a piggybank, pennies have disappeared. Eventually, so will nickels, and possibly dimes. As society...
First steps to financial literacy When it comes to registered savings plans, Canadians have two popular options: Registered Retirement Savings Plans (RRSPs) and Tax-Free Savings Accounts (TFSAs). Each has its advantages and drawbacks. But ultimately, there’s no...
First steps to financial literacy Life insurance and related products come in many different variations. These include life insurance policies, segregated funds, and annuities. Sometimes, it seems, there are too many variations, most of them confusing and seemingly...
First steps to financial literacy For most people, “budget” is the ultimate financial six-character four-letter word. It’s viewed as a distasteful chore, and something to be avoided. And often, even if an attempt at budgeting is made, it’s soon set aside as...
Learn the basics of securing your financial future If you’ve taken sensible financial advice and are committed to a regular savings and investment program, you might have already built up a substantial nest egg in your RRSPs and TFSAs. If you are, in fact, in this...
Separation and divorce are extremely stressful life changes. But add the challenges of dividing assets and sorting out finances, and the stress level goes right though the red zone, especially for women, who often have greater financial needs when custody of...
Refining your investment style from a menu of choices “Active” and “passive” portfolio management used to be fairly straightforward. Active investors traded frequently in individual stocks in an effort to beat the market, while passive investors relied on...