What you need to know for RRSP success Should you contribute to a Registered Retirement Savings Plans (RRSPs)? With Tax-Free Savings Accounts (TFSAs) becoming more popular, there’s a fierce debate among the experts on the relative merits of each type of account....
Don’t set impossible financial goals The New Year is a great time for making resolutions and for taking control of your finances. Easy to say, but not so easy to do! When you resolve something vague like, “I promise to spend less in 2015,” that’s a resolution that...
The steep ‘peace-of-mind’ premium Both mutual funds and segregated funds provide investors the opportunity to invest in stocks and bonds managed by a professional money manager. The managers of both mutual funds and segregated funds look to invest the funds...
The remedy for financial overindulgence Every year around this time, I’m asked how to overcome the seasonal spending disorder that grips a large part of the population. But there is a remedy, and it doesn’t involve laborious budgets and daily penny-counting....
Periodic volatility means opportunity I wish they’d make up their minds, don’t you? To listen to assorted talking heads in the business media, you’d think that the current slump in crude oil prices to around US$60 per barrel is something just short of the end of...
Year-end strategies to cut your tax bill During the hectic holiday season, the last thing you want to think about is your tax bill for the year. But there are a few year-end tax tips that could save you a few bucks in tax come next April. Here are some of my...
Why they’re important to your financial health Your investment portfolio isn’t carved in stone. These days it’s most likely saved in a digital file somewhere. Every month, you should be receiving an itemized statement of what’s in that digital file as of the close...
How to find out whether a planner is a good match “Financial planners” seem to be around every corner these days. And no wonder. As Baby Boomers retire and Gen-Xers approach middle age, the demand for trustworthy financial advice has never been greater. Yet many...
3 key principles of Madonna’s pop star staying power Long-time pop queen Madonna really hit the big time with the debut of her second album “Like a Virgin.” That was 30 years ago, and she’s been a pop celebrity ever since. Success like that is tough to replicate....
Three ways to use your funds – and how they work Gen-Xers, Gen-Yers, and Millennials should all have RRSPs. Sadly, most do not. The smart ones do, and are taking advantage of the powerful long-term compounding and tax-sheltering benefits of this wonderful...
Good planning relieves stress, promotes overall well-being This is a challenging time for building your wealth and saving for retirement. A new study conducted by Leger Research for the Financial Planning Standards Council (FPSC) noted that money is the number-one...
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...