As Stephen Poloz begins his tenure as the new governor at the Bank of Canada, there has been a lot of talk about Mark Carney's last policy decision to hold the interest rate steady at one percent. While the rate addresses the expectation of moderate growth in the...

Are you ready for the $1 trillion giveaway?

It's been estimated that baby boomers in Canada stand to inherit as much as $1 trillion over the next twenty years. So the question is: are you ready?

According to studies, as many as 70 per cent of individuals who come into...

Have you ever considered how many degrees of separation exist between you and your money?

When it comes to people, the theory is that everybody on this planet is separated by only six other people. This is referred to as "Six Degrees of Separation," popularized by John Guare,...

There is a major battle going on in the financial services industry, and your welfare is at stake.

At war is the Government of Canada, represented by the Canadian Securities Administrators (CSA) and the entire financial services industry including investment firms, mutual fund companies, banks, insurance companies and just about...

Most people would agree that you shouldn't have to pay someone else's tax bill. Despite all of the myths surrounding tax filing, this one is actually in accordance with Canadian law.

If a relative of yours were to die owing money, you have no obligation to pay...

If you're a parent, you know that feeling when your child doesn't want to listen to you. Sometimes you just want to send them to their room and make them stay there until they'll listen. When I was growing up, my "time outs" for being defiant were dealt with in...

As promised, here is the sequel to my blog "Why Canadians Are Being Set Up to Fail for Retirement." When it comes to dealing with money, there are two simple ways to break it down: things you can control and things you can't. Once you understand the things...

This blog was meant to be a sequel to last week's about how Canadians are being set up to fail with retirement; however, in response to the backlash surrounding RBC this week, and in particular, against RBC CEO Gordon Nixon, let's look at how CEOs are compensated. Last...

It is clearer than ever that most Canadians have to fend for themselves when it comes to retirement.

A few decades ago, most working Canadians had access to a Defined Benefit Pension Plan. This meant that when you retired you would receive some form of regular income for the...

When it comes to marketing, a name can mean everything. When it comes to investing, it means absolutely nothing.

Over the last year, for example, there has been an increase in the number of firms that are offering Private Investment Council or Private Investment Pools. Why? Because people are...

When I'm lecturing to students I like to ask them how much a $100 pair of shoes costs. The most common answer is $100 plus tax. Would you believe me if told you it could be as much as $1,376.46?

A basic truth in finance is that when you give...

Have you ever wondered if your banker, insurance agent or investment advisor wasn't telling you the complete story? How would you know if they were?

As a professional in the financial services industry for over three decades, I've been directly involved in the life insurance business, mutual fund business and...

Despite the constant barrage of friendly letters and chirpy bank tellers, many people find themselves in a one-sided relationship with their bank. After the wooing stage is over, banks can become your very best frenemy. Here are the top three most common pitfalls to watch and avoid.

#1 It's...