The Ontario government just announced a pilot project to test a basic income for low-income earners in Hamilton, Brantford, Lindsay and Thunder Bay. Will the program be successful? I have no idea. The answer will, in large part, depend on what will be measured.
The Liberal Government has stated they want to build a strong middle class, but who comprises the middle class? Mr. Morneau in his 2017 budget speech stated, "All Canadians must pay their fair share of taxes," but what is a "fair share"? Let's do the math and find out.
Over the last few weeks, there has been much press about how the banks have been accused of "upselling" clients and pressuring staff to market financial products to customers that they do not need. High-pressure sales tactics are not always that apparent. When one thinks of high-pressure sales tactics, it usually involves someone in your face trying to convince you to buy something you probably don't want. It is often a very uncomfortable situation, and all you can think about is trying to get away.
We've all been there: an email arrives in your inbox promising you thousands (if not millions!) of dollars' worth of prize money. You can't remember e...
As a personal finance expert I know how important security is. You can spend years saving wisely, only to be duped by a savvy fraudster. Read about all of that in the Little Book of Scams provided by the government of Canada. It outlines all the latest ways fraudsters are trying to get their hands on your information.
Taxes can be complex and most people don't want to deal with them. But unlike some tax pros that try to imply that you need a super-computer to prepare your return correctly, many people have straightforward returns that can easily be prepared yourself using a free or affordable tax software program.
It seems like clockwork that whenever an investment strategy goes through a soft period of lackluster returns, the investment community questions its ...
A few years back, a longtime friend of mine gave me a tip on an offshore investment opportunity. Perfectly legal, she explained, and with a startlingly high return. As investment opportunities go, I thought it was somewhere between ridiculous and clinical insanity. And yet I was hard pressed to say no.
If you're like me and you want to be able to cut the financial umbilical cord with your kids, start when they're young. Help them procure a part time job -- even if it's just one shift a week at first. Have them open their own bank account, and teach them how to balance their account.
Retail marketing scientists have mastered the art of seduction. They make a living by influencing your purchasing decisions and, on occasion, roping you into buying something you really don't need.
After 37 years in the financial services industry I realize I shouldn't be surprised, and I'm not. I'm shocked. Shocked by the confusion created by th...
The wealth management industry is rapidly becoming more complex and changing fast to reflect diverse generations, technology and industry regulation. A new set of strategies and tactics will need to be developed to get ahead of the curve and drive revenue growth and assets under management.
If the year has taught us anything, what stands out is being different and not following the pack in consensus or action. While typical "hedge funds", as ironic as that sounds, struggled, not all were negative.
If I gave you $500 a month to put towards your debt, what's the best way to use it? Should you chisel away at the debts with highest interest rate? Or knock off the smaller ones first? The answer might surprise you.
As we start a new year, we have yet another new poll about how Canadians are once again listing paying down debt as their top financial priority for 2017. This survey, from the CIBC, says that for the seventh straight year concerns about debt were a top concern for most Canadians.
Money worries exist across income levels, and across the country. A new study fielded by Ipsos has found that three in 10 Canadians say they feel insecure about their financial health, defined as "a state of overall well-being where a person can fully meet current and future financial obligations to enjoy the things that matter most in life."