Beat the taxman with a Tax-Free Savings Account! Yes, you can beat the taxman! In fact, you have the legal right to arrange your financial affairs within the law to pay the least amount of taxes possible. Make sure you exercise that right. This is legitimate tax...
Five key questions to ask Horizons ETF Management, a leading Canadian provider of exchange-traded funds, recently announce that it will be cancelling the Advisor-class units (that is, units that pay a fee to advisors who recommend them) on its Canadian-listed...
Take stock of your entire financial situation The beginning of the New Year is often a time to turn a new financial leaf: make a budget; pay down debt; save more. That’s all commendable, but these good intentions are mostly forgotten by, say, mid-February. A better...
Financial advice for new parents Welcoming a baby to the family is an exciting, challenging time for new parents. And many moms-to-be plan to take advantage of the current 12-month maternity leave (which the Trudeau Liberals have promised to extend to 18 months)....
Ideal for professionals, executives, business owners Looking for ways to enhance your retirement savings beyond a Registered Retirement Savings Plan (RRSP)? If you don’t already have a pension plan through your employer, and you’re a business owner or executive, or...
Robyn Thompson is regularly featured in The Toronto Star’s “Money Makeover” series by Deanne Gage. Money Makeover takes a look at Joanne, divorced with 4 children. Joanne has limited savings and some leftover debt, but with her children leaving the nest, she can...
A generous bequest can be a wealth-planning opportunity A recent report by CIBC economist Benjamin Tal looks at the implications of the huge impending transfer of wealth to Canadians between 50 and 75 years old. He points out that over the past decade, just over...
A short grad course in investing for the future New grads fresh out of university may have received some cash gifts from proud parents and relatives. Some may be tempted to blow it on partying and living the high life. Others may seek the excitement and potential...
Beware the fees and penalties! Sometimes it makes sense to refinance a mortgage – and it’s tempting if your rate is higher than prevailing rates – but mostly it doesn’t. It would make sense only if you have a longer-term mortgage at an interest rate considerably...
Term life or universal life – and the difference it makes If you’re shopping around for life insurance for the first time, it’s easy to become pretty confused pretty fast. Here’s a primer on the difference between term life insurance and universal life. As the name...
The financial consequences of “failure to launch” The family dynamics of the Baby Boom generation have evolved, and more parents of the Baby Boom generation are supporting young adults in what psychologists call “emerging adulthood” – the age between the end of...
Have the ‘money talk’ before you tie the knot Young couples getting ready to tie the knot this spring and summer typically have a lot to talk about – guest lists, invitations, venues, honeymoon, and all the details that go into planning a wedding. Money often isn’t...