As Joe Farnsworth* from Toronto discovered, published return percentages do not necessarily tell the whole story of an investment portfolio performance. Joe retired 9 years ago from the Toronto Police Service from which he collects a serviceable pension each month. When Joe retired he decided to try investing his
A minor fire storm of gossip and criticism hit the Toronto talk radio airwaves in early June as preparations for the Canada 150th birthday celebrations were fully underway! The Province of Ontario, as part of the Ontario 150 tour, gave away a large grant funding (free money) with a
No matter how much we desire to protect the people most precious to us, the death of a family member is almost always met with some level of disbelief. In addition to the grief and mourning that follows the passing of a loved one, survivors are also left with the
What problems does the financial industry solve for Canadian consumers? Where is the value added for interacting with the financial industry and why use an Advisor versus doing it yourself online? To address these questions, here is a refresher on why the financial industry exists in the first place.
As the human brain ages and matures, it’s perfectly natural for memory to undergo a great deal of changes. The brain becomes less pliable and less able to form memories, which can lead to occasional forgetfulness or absent-mindedness. More severe symptoms might be a sign of something more serious,
The new October 2016 Federal Government Principal Residence Exemption (PRE) rules are causing many Canadians to review and revise existing Wills and Estate Planning strategies according to STEP (The Society of Trust and Estate Planners). To track the capital gains that foreign buyers have been avoiding on the purchase
No one wants to think about having their identity stolen or experiencing a theft of their finances. It is unpleasant, distasteful, and often feels like the type of thing that happens to other people, not to ourselves. The sad truth is that, every single year, identity theft crimes result
There is a common misconception that, if left unaddressed, can having a devastating effect an individual’s long-term financial well-being. It is the belief that long-term care costs are fully covered by provincial health care plans if you or a loved one ever need this special type of care. Unfortunately,
With spring just around the corner, many Canadians have young people in their lives who are graduating from university, professional schools or community colleges. When the excitement of Commencement wears off, they are faced with the challenge of finding their first full-time paid jobs. The following are a couple
What is your most valuable asset? Many people will think about this question and come up with a variety of answers, but most people will likely say their home is their most valuable asset, while others may say a business they own or a retirement portfolio. But for some
No one likes to think about their own mortality, but making a proper estate plan can help to lessen the grief of loved ones left behind. Alternately, without a written estate plan, surviving family members are often saddled with the responsibility of making estate decisions without a clear understanding of
With many Baby Boomers now moving into their sunset years, the growing concern is how they will efficiently and effectively plan for the transfer of their wealth to the next generation? A recent survey by RBC Wealth Management estimated that the amount of money changing hands over the next
With the lifetime contribution room of a TFSA now at $52,000 for most people, TFSAs are now a serious portfolio and investment planning alternative to making RRSP contributions. So which is better you ask? Well, it depends… If you are a Canadian with significant assets and savings then maximizing
Wouldn’t life be better if it was easier to get ahead? For many, there’s just too much month left over at the end of the pay cheque. After all, you’ve got a mortgage or rent and utilities to pay, food and clothes to buy, and a vehicle to operate.
The unfortunate truth about aging is that the human brain deteriorates as we age. While the process is vastly different depending on the individual and their health and circumstances, the rate of deterioration cannot be predicted with any level of certainty. It doesn’t cater to genetics, family history, or life
Since its inception several decades ago, the Registered Retirement Savings Plan (RRSP) has become the most widely used retirement savings vehicle in Canada. In order to get the most from an RRSP, it is essential to plan ahead for future investments to avoid panicked deadline decisions or taking action without
Multiple media reports note that almost 50% of Canadians have no emergency savings and are unable to cover the cost of an unexpected expense of $500 – $1000, let alone deal with an unexpected job loss. Other reports from credit agencies such as Equifax state that even a 0.25% increase
With a few weeks to go before the year-end, you may wish to think about some moves you can take now to save you some taxes for 2016. Along with the usual advice to do any tax loss selling before December 23rd on any equity investments to offset any
It is next to impossible to know when you might be impacted by a financial emergency; therefore, it is important to be prepared for something unforeseen in the future. Most people have heard the saying about saving money for a “rainy day”. With the right forward planning, there is a
Choosing a retirement location can be a stressful experience, especially when you combine your own questions with the pressures you might be receiving from loved ones to live near them. Here are ten tips to help ensure that your retired life is as wonderful as it can be.
On November 8, 2016, Americans will elect the 45th President of the United States. Many Canadians have been vehement and passionate observers of every twist and turn of the campaign. Yet, once you strip away the nasty name calling and accusations of one kind or another by both candidates, you
Isabel was paying for a store purchase with her debit card. She noticed the clerk was doing something with his cellular telephone, then placed it on the counter. Isabel realized that the clerk had set the phone, equipped with a digital video camera, to record her card number and PIN.
There are very passionate views on both sides of the debate as to whether it is better for individual investors to use active investment managers versus using an index approach, with its main selling feature being lower fees. Let us first bear in mind why people invest in the
Let us discuss a scenario that faces a high number of retirees and soon-to-be-retirees all over the country. You have spent years saving for your retirement and you have made smart decisions about using the power of RRSPs to accumulate a significant nest egg. But now you’re unsure about
The media in general has a tendency to take an idea or story and run with it until the original context or point is lost in a wave of misinformation, taking a form of its own. At that point, the idea can become very dangerous to you as an individual
Imagine one of the following scenarios. Suppose you have suddenly come into a significant sum of money. For the interest of this example, we will imagine that it is one million dollars. This might have come to you by way of a lottery win, an estate inherited after the death
A constant dilemma for Advisors working with clients to help them realize their goals and dreams is striking a balance between the tyranny of immediate current events with the need to stay focused on your longer term goals. The recent Brexit vote in the U.K. is a case in
Harry and Sally both earned high incomes and liked to live the good life. They leased higher end European cars, took two-week exotic vacations almost every year, and lived in a house much larger than they truly needed. To accomplish this lifestyle, they put off retirement savings. Now in their
After speaking with many clients and potential clients over the years, a pattern emerges in the direction that the interview takes. There is often a sense of give and take with the client wanting to get certain questions answered in their mind, giving out small bits of information, but withholding
Many consumers find themselves falling into the traps offered by the appeal of easy credit opportunities. They are dazzled by payment plans for tech purchases, zero-percent loans on major purchases, credit card-funded vacations to faraway locations, and blowout sales that tout incredibly long delays before any payments are due. Before