They're great if you want a "set and forget" way to invest your hard-earned dollars that doesn't come with high fees.
It's reasonable to pay fees to have your money managed, but there are a lot of unreasonable costs that have somehow made a home in the financial world and really only benefit a small group of middlemen who distribute investment products to advisors (and maybe the golf courses they belong to). Before identifying some key costs, let's look at what 1% savings can do on a portfolio. These are two identical portfolios invested for 30 years and growing at 6%. One has a 1% additional fee paid each year.
Going to the gym instead of crashing on the couch, having a side salad instead of fries, or taking public transportation instead of driving. What do these things have in common with buying life insurance instead of putting it off? Research shows that people get the same feeling of satisfaction knowing they did the right thing rather than choose the easier option, even if it meant there was a little extra effort involved.
The unsexy truth is, larger companies are better positioned to innovate than start-ups. They have more money, more man-power, a more trusted brand, and most of all, more ways to reach their customers. Out of all bank customers, some are technology enthusiasts who moved entirely to robo advisers as soon as they could.
On July 15, 2016, the CRM2 regulation or the Client Relationship Model - Version 2, which outlines the regulations to improve
A second home purchase is a big deal. A furnished, comfy, home away from home in the likes of Lake Tahoe or Daytona Beach comes with spectacular scenery, an even better climate and a price tag. But vacation homes don't have to exist only in your dreams.
ider and consumer. We can work towards providing objective investment advice, free of vice and bias. Think of the pain and loss that could be avoided if human error and greed were removed from finance. Imagine if we could remove the weight of unmanageable debt with smarter risk assessment. What if we could help people make better decisions about their money and offer access to knowledge currently limited to high-earners and high-rollers? We can.
You can now open savings and chequing accounts, manage your retirement and investment accounts and get loans online, never mind being able to leave your wallet at home and use your phone to buy everything. Here are the top companies that can take you from money 2D banking to 3D.
Retirement planning can seem challenging. How do you plan for an event that may be so far in the future? How do you know how much money you will need? And how do you avoid many people's biggest fear -- outliving your money?
Albert Einstein once said, "The hardest thing in the world to understand is income taxes." -- you can rest assured that it is not a simple subject. Taxpayers are expected to understand it well enough to be able to make good decisions about our own financial situation. But if understanding basic income tax isn't enough of a headache, the taxes on investment earnings (such as in your RRSP) represent a whole new territory.