Sorting out “successor survivor” vs. “designated beneficiary” When you open a Tax-Free Savings Account (TFSA), you’ll likely be asked whether you wish to specify something called a “successor holder” or whether you want to designate a beneficiary. If you’re not...
Is an annuity right for you? As a growing number of Baby Boomers retire, the question of what to do with maturing Registered Retirement Savings Plans is becoming more pressing. RRSPs must be shut down by the end of the year in which you turn 69, and the proceeds...
The difference between passive and active ETF investing Novice investors just getting started with exchange-traded funds often ask whether they’d get more bang for their buck with a couple of “smart beta” funds added to the mix. But I generally advise thinking...
How to use RESPs to save for post-secondary schooling May and June bring thoughts of summer vacations, the end of the school year, and graduations. For many students, post-secondary education is only a few years away. And their parents are often worried they won’t...
What Canada Deposit Insurance covers…and what it doesn’t Are your savings safe? Given the recent run on deposits experienced by troubled Home Capital Group Inc., many people with large amounts of cash stashed in savings accounts, term deposits, and guaranteed...
Making the pension decision is not so cut-and-dried The big question most retirees ask is whether they’ll outlive their money. As you age, healthcare costs rise, and the question of long-term care can become a problem. Will you be able to afford to stay in your...
The danger of investing by headline We’re once again seeing the geopolitical situation heating up – North Korea, U.K. elections, French elections, Trump’s trade threats, and so on. Is it time to sell stocks and switch to gold and bonds? How did that strategy work...
Here’s what you can deduct…and what you can’t Investors have recently been getting more information from their advisors about the fees and charges they pay. This is likely because of new rules imposed on the financial services industry by securities regulators....
When to take advantage of the Home Buyer’s Plan First-time homebuyers who have RRSPs often look to supplement their down payment by taking advantage of the RRSP Home Buyer’s Plan. But frequently, they have only a sketchy idea of how it works and whether it’s even...
Here’s what you need to take on that role You’ll probably know of friends or colleagues who are unable to balance their chequing account on a monthly basis. I’ve had clients come to me who regularly simply close their out-of-control (and usually overdrawn) chequing...
How to avoid getting conned, scammed, bilked, and defrauded online Do-it-yourself investors may have run across investing websites that promise huge returns if you trade something called “binary options.” They make it seem like a pretty easy way to make a quick...
Timely tips for first-time homebuyers Real estate is hot, hot, hot. Just ask anyone trying to buy a home in Vancouver or Toronto. The Teranet-National Bank National Composite House Price Index was up 0.5% in January from December. The rise matched the largest...