Financial Planning

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.

Financial Education in the Workplace Is Beneficial in Many Ways

Cairine Wilson, CPA Canada | Posted 07.28.2015 | Canada Business
Cairine Wilson, CPA Canada

Tapping into workplaces across the country would allow a vast and varied audience to be reached. That audience would include people of different ages, education and culture. Workplace programs also would allow individuals to receive valuable information in a convenient manner.

5 Ways to Pay Off Your Mortgage Faster

David Lester | Posted 08.19.2015 | Canada Business
David Lester

When I was a banker we had this tool to show you how much you'd pay in interest over the amortization. When you look at the bottom of the chart I always liked to point out that you basically pay the same amount in interest as you took out on a mortgage at an average mortgage rate.

Why Dividend Stocks Dominate My Portfolio

Nanci Murdock | Posted 07.28.2015 | Canada Business
Nanci Murdock

I love my friends. Most are kind, two are funny. Three are generous, and another is shrewd. But my BFF? That friend would be my dividends. My proposition to you is that you start to invest. And high-quality dividend stocks with a track record of increasing their dividend payouts are a fantastic place to start.

How to Fix the Student Debt Crisis

Douglas Hoyes | Posted 07.21.2015 | Canada Business
Douglas Hoyes

Here's the bottom line: too many students are burdened with excessive student debt and that hurts all of us, so a solution must be found, and the sooner the better.

7 Steps to Debt Freedom for Millennials

David Lester | Posted 07.16.2015 | Canada Business
David Lester

When you're falling asleep isn't it always the thought of credit card debt that comes to mind? The best way to deal with that anxiety is with a plan. A plan to stop the bleeding money, set spending thresholds and eliminate that debt!

How to Strengthen Your Financial Fluency

Jeff Cates | Posted 07.07.2015 | Canada Business
Jeff Cates

Regardless of your age, your job or your personal interests, the topic of money will always be relevant to you. You've likely heard terms "money management" and "financial literacy" countless times before, and with good reason -- having a clear understanding of your finances is non-negotiable if you hope to have a sound plan for your present and your future.

How to Resist the Summer Splurge

Jeffrey Schwartz | Posted 06.19.2015 | Canada Living
Jeffrey Schwartz

Let's face it -- as a nation, our collective summer starvation turns us into ravenous sun-worshippers, giddy and eager to soak up every moment. And for many of us, money proves no obstacle, even if it means going into debt.

Why Investing is a lot Like Weight Loss

Nanci Murdock | Posted 06.17.2015 | Canada Business
Nanci Murdock

After losing 20 pounds, I can tell you that successful investing looks a lot like successful weight loss. Obvious likenesses between the two aside -- expensive products, conflicting "expert" advice, confusing strategies -- there are three similarities that will see you through to the investing finish line.