Disability insurance can save you from financial ruin A sudden disability – from accident or illness – could ruin your family financially. Depleting your savings, cashing in investments, or selling your home can be the result of huge disability and rehab costs not...
No need to settle for nothing You may as well face facts: You can’t “save” a million dollars. A recent survey of the market showed that the highest rate paid in a standard, plain-vanilla high interest deposit savings account (the kind that most banks and large...
Important to be open and honest about financial matters Couples in a serious romantic relationship really don’t want to talk about money. And it’s probably not quite the suitable topic when you’re dating early in a relationship. But when things get more serious,...
Revisit basic principles in volatile times New investors who began trading on their online brokerage platforms last year when stock indexes were soaring to record highs could be forgiven for wondering what happened. The New Year has not been particularly kind to...
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...