Financial Planning

How Much Should You Give For A Living Inheritance?

Andrea Love | Posted 04.28.2016 | Canada Living
Andrea Love

When you make a will, you decide who is going to get your money in the event of your death. The hope is that you not only set up the next generation for financial success, but you also pass along positive financial values they can carry throughout their lifetime.

How Starving Artists Can Create A Stable Income

David Lester | Posted 03.31.2016 | Canada Business
David Lester

All the tips on budgeting are based on people who get paid on a regular schedule, but if you're an actor, musician, etc., you'll get a chunk of change all at one time and then often have a dry spell. It's so easy to blow through the money that you get paid and then have nothing left for the few months that you're waiting for that next gig.

It's Time To Spring Clean Your Financial House

Jane Blaufus | Posted 03.15.2016 | Canada Business
Jane Blaufus

How critically important would it be for you to be in control if life as you know it changes this spring? Remember -- you can prepare now while you are of sound mind and body, or you can pay later. Which one would be your preference?

The Money Illusion of GIC Investing

Coreen T. Sol, CFA | Posted 03.10.2016 | Canada Business
Coreen T. Sol, CFA

In today's highly volatile capital markets, investors who can't stomach the fluctuations have hunkered down in good old Guaranteed Investment Certificates (GICs) and other traditionally categorized 'low-risk' investments. Although it only pays a modest rate of return, you can always count on your money being there when you need it. Or can you?

Ditch Your Reward Cards And Get A Real Reward - Freedom

David Lester | Posted 02.24.2016 | Canada Business
David Lester

Have you ever thought how much more money you spend travelling across town to use that store or get extra rewards? How many points apps or websited do you have on your phone and how do they change our natural behaviour? When we count up the effort, is it worth the reward?

How To Secure Your Financial Future Post-Divorce

Darcie Crowe | Posted 02.03.2016 | Canada Living
Darcie Crowe

It's now your responsibility to watch your income and expenses, and confirm that you're living within your means. Make sure you're paying your bills on time, setting a solid retirement plan in place, and saving for your children's education -- while also putting aside funds for major expenses or future emergencies.

Know Your RRSP Contribution Limit On Deadline Day

Tea Nicola | Posted 02.24.2016 | Canada Business
Tea Nicola

With the deadline looming, you may wonder how much you can contribute to your RRSP. The simple answer is 18 per cent of your income, each year, but of course there are some additional details to understand.

RRSPs Can Be Used For More Than Retirement

Wade Stayzer | Posted 01.05.2016 | Canada Business
Wade Stayzer

With penalties and repercussions feared as a result of such withdrawals, is it any wonder that Canadians are hesitant to take what they would consider to be an unnecessary financial hit? Yet there are opportunities for RRSP funds to be withdrawn without specific penalties.

Trapped In A Debt Cycle? This 'Dragon's Den' Host Has An Out

The Huffington Post Canada | Brian Vinh Tien Trinh | Posted 11.27.2015 | Canada Business

“Feeling like you deserve something is different than needing something.”

5 Reasons to Convince Your Parents to Get Out of Mutual Funds

Tea Nicola | Posted 10.24.2015 | Canada Business
Tea Nicola

We've all probably met a financial advisor who told us to buy a "balanced mutual fund," and hard sold their own company's "top performing" fund. They tell a good story, but do they really have our best interests at heart?

Here's How to Invest in a Volatile Economic Cycle

David Lester | Posted 10.20.2015 | Canada Business
David Lester

My overall idea is that by owning the dividend paying stocks outright you have the potential to make even more money and you know I love to do that. Creating a portfolio that is diversified and paying solid dividends will ensure a retirement asset to fulfill your goals and aspirations. Start paying more attention to your money and it'll pay you back with dividends.

Things for Baby Boomers to Consider When Estate Planning

Suzana Popovic-Montag | Posted 10.20.2015 | Canada Business
Suzana Popovic-Montag

Baby boomers are in a unique position with respect to the potential to be leaving behind estates of significant value. As a result of the previous generation's frugal lifestyles, which were often heavily focused on saving, they are set to reap the benefits in the near future.

Why a Sub-Prime Mortgage Isn't Always a Bad Idea

Samantha Brookes | Posted 09.29.2015 | Canada Business
Samantha Brookes

With home prices perpetually climbing higher and with banks continuing to tighten lending standards, more and more people are being pushed into the sub-prime space when applying for a mortgage, which requires higher interest rates and often more stringent repayment terms.

Should Millennials Use Robo-Advisors to Manage Their Money?

David Lester | Posted 09.26.2015 | Canada Business
David Lester

Investing in ETFs with the help of a robot or on your own is a great way to get a toe into the market. It could be a great option for the millions of millennials who are interested in "setting it and forgetting" it. More and more millennials go online to get Ubers, pizza, dates, and entertainment -- why not also have your money managed that way too?

Are Canadians Getting the Most From Their Retirement System?

Bob Stammers | Posted 09.17.2015 | Canada Business
Bob Stammers

As provincial and federal governments attempt to improve our retirement system, one has to ask whether Canada currently has an ideal system and what can be done to strengthen it. Determining the best way forward can be challenging, since retirement security spans government politics, employer practices, individual investor education and cultural differences.

How to Financially Prepare for Parental Leave

Wade Stayzer | Posted 09.17.2015 | Canada Parents
Wade Stayzer

Don't let the lack of preparation add more stress to an already chaotic life as a new parent. Having a financial plan in place before the new bundle of joy arrives will allow you to focus all your attention on enjoying the precious moments without worry of making ends meet.

7 Reasons Why You Should Say No to Mortgage Insurance

Tea Nicola | Posted 09.10.2015 | Canada Business
Tea Nicola

Buying a new home can be a daunting experience -- especially if it's your first time. One thing that banks love to do is tie mortgage insurance into your mortgage agreement, right along with a dangerous-looking checkbox you need to fill in if you choose to "recklessly" opt out. Here's why I want you walk into that mortgage broker's office, check that box, sign that line and opt out of it with total confidence.

What the Financial Advisor of the Future Looks Like

Rick Hyde | Posted 09.09.2015 | Canada Business
Rick Hyde

Often accustomed to working independently, the new advisor will need to be more of a team player that is integrally connected with more aspects of your financial life. Your future advisor will leverage technology to work flexibly and have systems and processes in place to ensure that your interests are always paramount.

How to Get Serious About Estate Planning

Wade Stayzer | Posted 09.03.2015 | Canada Business
Wade Stayzer

As morbid as it may seem, death is inevitable and preparing for our last day of life is a key component in a solid financial plan. Without proper planning, death can trigger a significant income tax bill which can cause significant financial stress for already devastated loved ones left behind.

Teamwork Helps Students Address Financial Challenges

Cairine Wilson, CPA Canada | Posted 08.21.2015 | Canada Parents
Cairine Wilson, CPA Canada

The post-secondary years are the ideal time to lock in great habits and fill any gaps in your children's financial education. Regardless of whether there are savings set aside or loans to be taken, managing the dollars matters. It's our young people who gain the most from good advice as they take on increased responsibility.

If You're in a Second Marriage, You May Need to Revisit Estate Planning

Suzana Popovic-Montag | Posted 08.20.2015 | Canada Business
Suzana Popovic-Montag

When it comes to second marriages and estate planning, there are many issues to which a will-maker must be alert. Keep in mind that personal family dynamics play an important role in determining what estate plan will work best for you.

5 Ways to Ensure a High Credit Score

Jeffrey Schwartz | Posted 08.20.2015 | Canada Business
Jeffrey Schwartz

It's a three-digit number that can make you or break you -- it can affect your ability to buy a home, rent an apartment, buy a car, and in some cases prevent you from getting a job. But despite its value, many of us are blissfully unaware of our credit score.

How to Settle Your Personal Debt

Dan S. Barnabic | Posted 08.13.2015 | Canada Business
Dan S. Barnabic

Many of us experience financial difficulties at one time or another. While most of us are strong enough to weather periodic financial storms and pay our bills, there are many who are not so fortunate.

How to Design a Budget That Works for You

Andrew Tai | Posted 08.13.2015 | Canada Living
Andrew Tai

Perhaps all we really need is an ability to follow a proper budget. You may have one already but if it's not informing your financial decisions, then it's worthless. The sooner you admit that, the better.

Market-Cap Weighted Indexes: Buyer Beware

Coreen T. Sol, CFA | Posted 08.04.2015 | Canada Business
Coreen T. Sol, CFA

My intention isn't to predict anything about the future of Valeant Pharmaceuticals (VRX). Instead the message is a reminder of how holdings in any market-cap weighted investment vehicle is impacted by the change in size of its constituents.