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 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...
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...
4 financial planning principles for the soon-to-be-married Many newlywed couples I talk to in my financial planning practice are of the high net worth variety. They are often professionals or executives and each brings to the marriage a fairly robust net worth and...
…And why a refund isn’t a good thing in the first place If you filed a tax return in April, by now, you’ll have received a Notice of Assessment from the Canada Revenue Agency. Sometimes it’s accompanied by a tax refund cheque. If it’s substantial, it might even...
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...
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...
When the holiday-spending credit card bills start coming in this month, some of us will pay off the balance to zero and calmly go on as before. Others – many others – among us will add it to the ever-growing pile of debt, try to make a minimum payment on at least...
Have you been naughty this holiday season? Financially, at least, many of us tip over to the “naughty” side, overextending our spending and maxing out our credit cards. I won’t get into other kinds of overindulgence here, but you know what they are. With the...
You’ll see them at your local bank branch, those amateurishly handwritten whiteboard signs advertising a $700 or $800 monthly income on a $100,000 investment. That’s equivalent to around a 9% annual yield. With your average bank savings account paying some fraction...
Does your financial plan look a lot like Cinderella before she met her fairy godmother. Frumpy, frizzy, washed out, washed up, and dressed in rags. If that about sums it up, you just might need a financial makeover. So while you’re getting set for the glitz and...