How to stay virtuous and grow your wealth in 2023 The holiday season always seems to be a time of excess. Excessive eating, drinking, partying…and spending. For many people, it’s a time when the bonds of financial inhibition are loosened. Trouble is, the financial...
“High interest” savings accounts yield less than 2%. Can savers do better? Robyn Thompson is featured in BNN Bloomberg’s Personal Finance with advice on where to find better yields, and when to take...
COVID-19 has caused a significant amount of stress for many Canadians, especially as it relates to their finances. Castlemark Wealth's Robyn K. Thompson offers a four-point plan to get your finances back on track.
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...
Don’t let pandemic woes infect your bank balance The COVID-19 pandemic has thrown many families’ financial plans into disarray. And while restrictions are gradually being lifted, activity is still far from normal. And, if the experts are right, there’s still the...
Escape the shackles of the savings account trap You may as well face facts: You can’t “save” a million dollars. A recent survey of the market showed that the highest rate paid in a standard, plain-vanilla deposit savings account (the kind that most banks and large...
Powerful tax-deferred retirement savings plan Registered Retirement Savings Plans (RRSPs) are still the best retirement saving and tax-deferral opportunity available for most Canadians. Trouble is, many of us just don’t use RRSPs to their full advantage. Unused...
How to put your money on a leash A kind of money madness seizes people at this time of year. The expectation of ever-larger-better-bigger-pricier gifts is aided and abetted by retailers offering deals, promotions, and sales on all manner of shiny baubles and...
Little changes can make a big difference As this is Financial Literacy month, and the theme is “Take Charge of Your Finances!”, I want to talk about the very foundation of financial literacy, the building block of successful financial management: the budget. I can...
How to cope with higher education’s sticker shock There’s no two ways around it: The cost of a post-secondary education is high. For some, it’s a real challenge to make ends meet while attending college or university. In fact, students can expect to pay a total of...
Tax-free investments and withdrawals It’s tax-filing season for most Canadians, and naturally, the advice and tips you get right now involve maximizing your immediate tax savings by making sure you take all the credits, deductions, and amounts you’re entitled to....
Let’s say you’ve accumulated a nest egg of $1 million at age 65, through pension plans, perhaps a significant RRSP, TFSA contributions, some inheritances, and possibly some money left over from downsizing your home. You’re ready to retire, and you have to decide...