Annuities are just one tool in your arsenal One of the first questions many of my high net worth clients ask me is whether they’ll outlive their money. Now, if someone comes to you with $500,000 to $1 million to manage, you’d think they’d be feeling pretty...
How to prevent inflation evaporation in your portfolio Scottish distillers call the routine evaporation of a small amount of whisky during the distilling process “the angels’ share.” Likewise, inflation is quietly evaporating your retirement nest egg, your...
And some tax deductions too! Yes, I know, no one wants to think about taxes. But tax-filing deadline is April 30, and now is a great time to make sure you’re taking advantage of every single tax break you can get. Besides the exemption for the basic personal amount...
Are Canadian kids living in the U.S. eligible for RESPs? While relatives such as grandparents are eager to contribute to their grandkids’ education through a Registered Education Savings Plan, is it even possible if the student lives in the U.S. even though he or...
Take on life’s biggest debt…and win! Even though much of Canada is still covered with a thick layer of snow and ice, the so-called spring real estate market is gathering momentum. And banks, finance companies, and lawyers are all gearing up to take their cut,...
And why you should follow his advice anyway Warren Buffett is the most famous investor in the world. Also one of the world’s richest men. There’s a direct line of causality between the two. So it’s not surprising that his annual letter to shareholders of his...
Not the pristine, risk-free investments you thought they were As RRSP season rapidly draws to a close (the deadline for contributions eligible for a 2013 tax deduction is March 3), I’ve been fielding plenty of questions about investments for an RRSP. One that...
One of the biggest mistakes do-it-yourself investors make is to sell investments at precisely the wrong time. Mostly, this is because smaller investors who “play the market” tend to be “reactive” rather than “proactive.” And mostly, they react to the two primal...
How to spot the signs and signals that make the perfect match Q. Hi, I’m in search of a new financial advisor to help me with some short-term and longer term planning. I make good money and also have stock options with my company. I want to know how to reduce the...
You may have more than you think “I don’t have any money!” Sound familiar? That’s the reason most often cited for not contributing to a Registered Retirement Savings Plan. And it does seem like a problem, especially if you’re living paycheque to paycheque (and...
Maybe it should be more than just cash Do you know what you have in your RRSP? I don’t mean how much money; I mean what kinds of investments. If you answered “guaranteed investment certificates” or “cash savings account,” welcome to the very large club! If so,...
Yes, you should have both a TFSA and an RRSP It’s awards season again. And the red carpets are unrolling so thick and fast that they’re becoming a pedestrian hazard. In the lead-up to Academy Awards next month, we’ve already seen the People’s Choice Awards and the...