The problem with using stock graphs to decide whether or not it is time to sell a company's shares has to do with the importance that people place on observations. Simply put, the most recent past is frequently seen as more diagnostic than the distant past, and so lines on a graph can be misleading.
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Canadians are living to 81 on average, which means you'll have plenty of time to sit in a rocking chair if that’s what you want. But, we’ve got some ideas to help you embrace change and make the most of a brighter post-work life.
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The Canada Mortgage and Housing Corporation recently stated that real estate markets in the top cities to live in Canada are currently overvalued. In October of 2015 their Housing Market Assessment listed Toronto, Vancouver, Montreal and Edmonton as examples of cities where buying a home can be very risky.
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“Feeling like you deserve something is different than needing something.”
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"Everyone who needs financial advice should be looking for someone who is going to take a holistic approach to their situation."
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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?
Budgeting isn't a dirty word, yet for many people the process of creating and living on a budget is seen as confusing, restrictive and scary. Creating a budget is actually a very straightforward process. Budgets aren't difficult but they require organization and discipline in order to be successful.
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There's been much hype and commotion since the federal government rolled out its revamped Universal Child Care Benefit (UCCB) last month. Dubbed 'Christmas in July', the change distributed nearly $3 billion to Canadian families, regardless of income, with children aged 17 and under.
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If the term robo-advisor conjures up images of C-3PO controlling your money, you can relax; robo-advisors aren't really robots. They're simply an innovative way for wealth management firms to leverage technology to create a modern online experience for the benefit of their clients.
Canadians are into the height of wedding season, and while brides and grooms may have carefully budgeted for the wedding ceremony, reception, and honeymoon, I worry that sometimes financial planning stops once the special day is done.
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From repairing a leaky roof to replacing a car engine, these unexpected costs can add up fast. But more important than unexpected costs, an emergency fund is your safeguard against a sudden loss of income. That's why financial experts stress the importance of having an emergency fund.
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FACT: 90 Per Cent of the Journey Is Taking the First Step Once you're determined enough to take that initial step towards accomplishing what it is you set out to accomplish, the most difficult part is...
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Finding the right insurance for you is a tall order, especially if there's no one in your corner to help you sort out the details. You can change that by hiring an insurance broker to make sense of it...
In 2015, personal finance is still a taboo topic. We might live in a liberal country, but Canadians are not very open-minded when it comes to talking about our pocketbook. In fact, many of us downright lie. I think one thing is clear: The more openly we discuss our finances, the more opportunity we have to gain financial literacy and take control of our financial outlook.
We all have an idea of how we want to retire, whether it’s quitting work entirely and spending every day on the golf course, to finally writing that book or launching your own business. And you won’t...
It's the most wonderful time of the year -- especially for online scammers. With holiday shopping also comes the downside of scams that are aimed at frugal shoppers trying to stretch their dollars. Contrary to the season of giving, these fraudulent tricks are aimed at taking your identity and financial information, and for scammers to thrive.
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Whenever you feel stressed or anxious about your financial goals, take those breaths and just accept where you are. In finally accepting my own financial situation for what it is in this exact moment, I also aim to remove all the guilt from mistakes I made in the past and just move forward from where I am right now. I hope some of you can do the same.
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The experts say that the average career in one company is less than seven years. Essentially that means you could be at four or five companies throughout your career. And like you've just discovered, that could mean you may have several RSPs, pensions, employee stock plans or other savings accounts associated with those old jobs.
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Every time you sit down with an investment professional, you are asked what your risk tolerance is. Regardless of the method for defining the risk you'll accept in your investment portfolio, you are wise to define the meaning at the outset with the person administering your money. It will save you a lot of sleepless nights.
For the average person, debt management seems like a simple strategy. But it is easy for debt to get out of control -- the sooner you make a plan and stick to it, the better it will be for you in the long run.
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An Ontario couple are going public about how a mutual fund salesman “gambled” with their money — and lost $80,000 — by copying their signatures to buy high-risk investments, against their explicit wis...
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Wedding season is upon us. I am a supporter of marriage; after all, I am happily married. However, it's worth considering whether it's more financially beneficial to be married or live in a common-law arrangement.
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Do you have a budget? It is one of the most fundamental steps in making your money work for you. A personal budget is a basic estimation of the revenue and expenses over a specified period of time. Whether your goal is a down payment for a new house, saving for your child's education, a dream vacation or simply retirement, a budget is the answer to helping you reach your financial goals.
With only about one third of Canadians making an RRSP contribution according to the Sun Life Annual Check-up Survey, make this year the year that you start to reap the benefits of your RRSP. Top up your RRSP before March 3 and make an appointment with your advisor to plan how best to invest your tax refund (or tax savings). Your tan may suffer but your net worth will thank you.
As RRSP season closes and many Canadians prepare for tax time, a CBC Marketplace investigation reveals that financial advisers at some of Canada’s top banks and firms are giving consumers inaccurate,...
Is your financial plan just a bunch of numbers crunched to the point of no return? I often wonder if the general public has any idea about what really goes on within the financial services industry. When they take the step towards planning for their financial objectives, are they receiving the best advice available or simply the most available advice?
There are various reports about the amount of scholarship and bursary money that goes unclaimed each year. Some reports suggest that it could be over $15 million. While the exact number is hard to quantify, the point is there are millions of dollars that can be leveraged towards your future education. But where is the money, and how can you find it?
Conventional wisdom says that debt used to purchase something of lasting value, like an investment, or a house, or a car, is good debt, because you benefit from the purchase. An example of bad debt would be borrowing to go on vacation, because when the vacation is over you have nothing to show for it. In some cases both of these examples are true.
There is a major battle going on in the financial services industry, and your welfare is at stake. What's the war over? Whether or not the person you're trusting to invest your money is legally required to act in your best interest. Right now, they only have to make sure the investments they're selling you are "suitable." I would like to see legislation for fiduciary duty and I'll tell you why.
Recently I was asked for advice from a couple of women -- a small business owner and a would-be entrepreneur and in each instance, the answer was the same -- they needed to do the math. In fact, it really was all about the bottom line.
Women relate to each other though stories, and through this process they learn and grow. Money is one of the last taboos and is something many of us are uncomfortable discussing. Creating safe and open spaces for women to talk about money is one of the missing gaps in financial and investor education.
A lack of understanding of how women do business is one of the reasons so many women are demanding female financial advisors. The industry, however, is sadly under-served by women. In 2012, less than 25 per cent of advisors are women. As a result, the business is neglecting the needs of women and is thus ignoring hundreds of millions of dollars of potential revenue and profit.