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...
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...
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...
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...
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...
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...
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...
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...
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...
Who are all those people and what do they do? I’m often asked why the financial services industry in Canada isn’t better regulated. After all, we frequently read about some unfortunate investors who were bilked of their life savings by an unscrupulous “advisor” who...
Remember this one key principle of investing When you’re relaxing at the beach or cottage, or doing the grand tour somewhere, you don’t want to spend much time fretting about your investments. If you’re continually worried that stock markets are on the verge of a...
Active versus passive investment styles A friend of mine says she invests in a “couch potato portfolio,” and her returns are higher than my portfolio of mutual funds, which the company says is actively managed! I’m not sure I understand what a “couch potato”...