Key cyber-security principles to keep your money safe online October was Cyber Security Awareness Month in Canada. It’s traditionally the time industry experts and governments have set aside for talking up all things related to online security in your everyday life,...
Tips for post-divorce financial planning The stress of a divorce, with its hearings over settlements and custody arrangements if there are children involved, can quickly eclipse any thoughts of financial planning for yourself. But it’s something you shouldn’t ignore,...
A little pre-nup financial advice Young couples getting ready to tie the knot this 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 part of the conversation....
Robyn Thompson is regularly featured in The Toronto Star’s “Money Makeover” series by Deanne Gage. Money Makeover takes a look at Mary Lou, a 65-year-old widow with a portfolio valued at more than $1 million. She is uncertain about how much income to withdraw...
You must act by Dec. 31! If you turned 71 this year, and you still have an RRSP, you have until Dec. 31 this year to convert it into another type of tax-sheltered plan. If you don’t, the Canada Revenue Agency can take away up to half of whatever is in your RRSP....
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 to...
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 debt...
Caution: CDIC covers cash deposits and not much else The term “Registered Retirement Savings Plan” conjures up all sorts of visions of guarantees and “official” protection against loss. After all, it’s “registered,” isn’t it? Actually, investments held in your RRSP...
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...
How to stop con artists in their tracks If you’ve been receiving messages by phone, email, or text message from someone claiming to be from the Canada Revenue Agency, saying that you have overdue taxes and that legal action will be taken unless you pay immediately,...