Five key money questions to ask before you retire The Baby-Boom generation is getting ready to retire. It’s a big concern and a big issue, simply because that generation has been the dominant demographic since the late ’60s. And now they’re starting to feel the...
The power of an easy, basic budget to clear away the financial fog November is Financial Literacy Month in Canada. It’s the government’s way of trying to get people to understand that financial literacy is important for the financial well-being of individuals, and...
Why some first-time homebuyers are scared stiff If you’re looking to buy your first home, you’ve probably heard about the recent changes to mortgage lending rules recently announced by the government. If you’re shopping for an insured mortgage, these changes could...
Tips for paying off the plastic A recent report by credit agency TransUnion paints a scary picture. According to the study, of over 26 million Canadians carrying some sort of variable-rate consumer debt, some 718,000 would not have enough cash to continue making...
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...
The many benefits of employer-sponsored Group RRSPs If you’re a recent graduate and you’ve landed a job, your employer may offer you a Group RRSP as one of the employment benefits. Should you sign up? It’s a good question, since you are probably still far away from...
It’s a terrific tax shelter, but you have to know the rules If you’re considering opening a Registered Education Savings Plan (RESP) to help fund rising college costs, you might find the rules a bit complicated and information that seems to come from several...
Learn the basics of financing before plunging in – no math degree required Young couples shopping for their first home are faced with the bewildering new language of the real estate market – mortgages alone often seem to require a degree in higher mathematics. It’s...
First, pack away the plastic With the holiday season now over, all those credit card bills are coming in. And the news isn’t good. If you have a wallet full of cards, and you’ve reached the limit on at least one, you’ve got a problem. Fortunately, there are some...
Avoid these money mistakes for a more successful 2016 At this time of the year, I’m often asked what I consider to be the most common financial and planning errors most people make. Over the years, I’ve boiled it down to the seven deadly sins of financial planning....
A few basic tips to help you get started Do you have good intentions at the beginning of each year, but find that by New Year’s Eve, your finances and investments are still in a disorganized mess? If so, I have a few suggestions to help you start getting your money...