Key financial planning principles and resolutions for the New Year This year will go down in the books as one of the strangest, and perhaps most stressful, on record. The Covid-19 pandemic and resulting disruptions to our normal lives has been challenging for all...
What you must do before Dec. 31 Registered Retirement Savings Plans do not last indefinitely. In fact, they must be closed down by the end of the year in which you turn 71. So if you are in that age group this year, you have until Dec. 31 to convert your RRSP into...
First steps to financial literacy With the Covid-19 pandemic more people are spending more time at home. This has also led many people to try a little do-it-yourself investing. After, all opening an investment account is relatively easy, and almost every financial...
First steps to financial literacy This is a challenging time for building your wealth and saving for retirement. A newly released survey by FP Canada found that Canadians between age 45 and 54 are struggling the most during the Covid-19 pandemic. Over a third in...
Portfolio management tips for troubled times October is a typically volatile month for markets, and this year has been no exception. The main North American stock indexes were down for the month across the board. So were crude oil and gold. We heard media talking...
Make the most of this wealth-creation tool all year Many investors only think about their Registered Retirement Savings Plan (RRSP) in February. But that’s really just a conditioned reflex, spurred on by financial institutions to get you to give them money in the...
Vulnerable in the season of volatility The fall season of volatility is here again. This year, however, stock markets may be susceptible to even more gyrations than usual, given the vagaries of the Covid-19 pandemic and its effect on economic growth, the U.S....
Four trouble areas, and how a planner can help The Covid-19 pandemic and lockdowns have created plenty of financial stress for individuals and families. Temporary or even permanent income loss has been only partially mitigated by relief programs, such as the Canada...
What if your child decides not to go the post-secondary route? If you’re tapping into Registered Educations Savings Plans this fall to pay for your kids’ post-secondary schooling, keep in in mind that there are plenty of rules about how RESPs are administered. And...
Review your portfolio before jumping in The Dow Jones Industrial Average is reaching all-time record highs. So is the S&P 500 Composite Index – amidst a pandemic and a recession, no less. And smaller investors are jumping on the bandwagon. Should you join the...
Professionals, executives, business owners can benefit The defined benefit pension plan has pretty much gone the way of the dodo. With one exception: the Individual Pension Plan (IPP). If you’re a business owner or executive, or an incorporated professional, such...
The lure of gold in troubled times Gold has in recent weeks become more interesting to investors. After a lengthy period during which an ounce of gold traded around US$1,500 per ounce, it notched up slightly after the March stock market meltdown, to around...