Buying a home can be a challenge for many Canadians. Fluctuations in home prices, along with increased interest costs play a huge part in a first-time homebuyer’s ability to afford a home.
The investment world is based on decisions humans make regarding money every day – some decisions lead to positive outcomes, and others have negative results.
I hope settling into a back-to-school “routine” has been going well for parents and students everywhere
As the saying goes, money cannot buy happiness. However, having confidence in your financial decisions and your ability to reach your long-term objectives results in security and peace of mind
Recently, my nephew and I went out for lunch to celebrate his acceptance to the University of Victoria. I would like to share some of the financial advice I passed on to him.
For the purposes of this piece, we will be focusing on managed money and, in particular, mutual funds. An investment advisor who chooses investment funds on behalf of a client is implementing what’s called Overlay Money Management.&nbs
After thirty-five years of financial advising, I would like to share some insights I’ve recognized as important ingredients in effective integrated wealth management.
Today, many of us have fragmented relationships with our financial institutions. Gone are the days when we would head to our local bank branch to take care of our monthly bills, deposits,withdrawals and update our bank books,
Generally speaking, you can contribute to a family plan as long as the beneficiaries are less than 31 years of age at the time of contribution.
A strong awareness and understanding of your personal finances is an integral part of the financial planning process. This holds true regardless of your phase in the financial life cycle.
Yes, you can have more than one Tax Free Savings Account (TFSA), with different institutions.
You’ve made the decision to purchase a new vehicle, and now you must ask yourself – should I lease or should I buy? This is a question that we come across time and again with our clients.
A New Year is underway and some of us have already broken our New Year’s resolutions…
The idea of a tax deduction against your taxable income and the refund it generates is a very attractive idea to many. That vacation we had been thinking about all year is finally afford- able knowing we have that nice chunk of money c
Canadian mutual funds can take the legal form of a trust or corporation. While most funds are structured as mutual fund trusts, some are structured as mutual fund corporations. The latter are also known as corporate class funds.
It's no secret that today's low interest rate environment poses a real challenge for Canadian.
There are some risks that we take purely for the fun of it: skinny-dipping, roller coasters, even alcohol consumption. These risks range from fairly benign to potentially catastrophic.
A good place to start would be to register to access your information with the Canada Revenue Agency (CRA) online.
To get this information, you, as the subscriber for the RESPs, will need to call the Canada Education Savings Program (CESP) toll-free line at 1-888-276-3624, between the hours of 8am and 5pm (ET), Monday to Friday.
In 1987, the Royal Canadian Mint produced a small, gold-colored coin (actually, it is currently made of steel with brass plating) to replace our paper one dollar bill.
My wife and I are expecting our first child this August. As new parents to be, we are spending a lot of time analyzing our finances and are doing a lot of planning to ensure that we are well prepared.
A Registered Retirement Savings Plan (RRSP) is a financial planning tool which is widely used by Canadians. A common assumption is that the funds in this account should not be touched until that glorious era of your life – retirement.
Teaching our children about money and how to handle it can oftentimes be a difficult topic for many parents.
By definition, passive investing is best described as an investment strategy that tracks a market-weighted index or portfolio.
Earlier this year, the investment firm Vanguard released the results of a major study attempting to quantify the value of financial advice to investors.
A question faced by loved ones who care for family members that suffer from disabilities is, “How will I protect them once I am gone?”
The federal government announced a new tax credit that they are referring to as the Family Tax Cut.
Don and Jane Smith are the proud and loving parents of 2 children age 15 and 16. At a meeting with their accountant, one of the topics of concern for the family is the large health costs...
Over the past 30 to 40 years, investment management styles and techniques have changed quite a bit.
With the RRSP deadline fast approaching (the deadline for the 2014 tax year is March 2nd, 2015), I wanted to take this opportunity to provide some insight on the rules of the road for RRSPs.
On February 16th, the BC government did the first reading of its 2016 provincial budget. As always, there is both good and bad news for BC residents, depending on their personal situations. Here are some of the highlights.
Yes, the BC Training and Education Savings Grant was introduced this year. It is meant to help families start planning and saving early for education beyond high school.
My wife and I had a baby boy on August 5, 2011. He just turned two and shares his birthday with his grandmother Ann. Liam is my first child and my wife Rita’s second.
Many of our clients use Registered Retirement Savings Plans (RRSPs) as one of the pillars of their wealth building strategy. An RRSP is a type of retirement savings plan that is registered with the Canada Revenue Agency.
RRSPs were introduced in 1957 by the federal government to encourage Canadians to save for retirement.
On March 2nd, 2022, the Bank of Canada increased its overnight interest rate by 0.25% to 0.50%, in what is widely expected to be the first of a series of small rate hikes this year to cool the economy and tame inflation.
A solid credit score is your endorsement as a desirable borrower, providing you with access to capital at better rates, saving you considerable interest costs and helping you achieve your financial goals.
Informal trusts, or ITFs, are a tax-efficient way to provide a savings plan for a minor child. These accounts can be used for funding future education, protecting an inheritance or, as is often the case...
Once all the Christmas dinners are done, the guests have gone home, the Boxing Day shopping is done, our new purchases are safely home, and the house is quiet as we wait to bring in the New Year, our thoughts often begin to turn toward
When my oldest son turned 19 last year, he was very surprised when I insisted that he apply for his first credit card – a student credit card with a low limit and no annual fee. He happily obliged!
Most investors understand that to achieve their long-term target rate of return, they will need to accept some volatility in the short and medium term.
As we approach the holiday season, you’ll hopefully find some time to spend with family and/or friends. Many conversations will be had and some may be about that overdone turkey and some may even be about the investment markets.
Responsible investing (also known as ethical investing and socially responsible investing) is growing in popularity as more investors are seeking to align their portfolios with their values.
Over the last 5 months, the Canadian dollar has risen substantially versus the US dollar (an approximate 13% increase). This is good news for shopping across the line, but bad news for the US dollar exposure within our portfolios.
What is the ultimate currency? Is it money? Canadian dollars or U.S. dollars? Is it gold or real estate? No, the ultimate currency is not a tangible asset at all. You can’t save time. You can only spend it… Benjamin Hoff, The Tao
When a child is a resident of Canada and receives a permanent social insurance number, they instantly qualify for Registered Education Savings Plan (RESP) benefits.
As the year draws to a close… if you’re like me, you may be looking back over the year – considering what worked, what didn’t, and what you might like to do differently or focus on next year.
We haven’t hit Halloween yet, but I have already seen Christmas decorations at Costco.
So, you haven’t fully ‘topped-up’ your RRSP? There’s still time to make a contribution and have it count towards reducing your taxable income earned in 2015, if you do so before February 29th. Here are some things to consider before
Changes are coming with the new Federal government. Not all the details are known yet, but here is a brief summary of some of the changes that may impact your finances:
In February 2013, the BC government announced that any BC resident with an RESP for a child born on or after Jan. 1, 2007, may apply for a one-time grant of $1,200 between the child’s sixth and seventh birthday. Two years have passed
Many of us set New Year’s resolutions for ourselves and often those resolutions have to do with finances. January is the month we say, “Ok, this year I am going to save more and spend less”. By February, sometimes those resolutions are
Investing today is not for the faint of heart. Fortunately for Canadians, segregated fund products offered by many life insurance companies provide a safety net for nervous investors.
Don and Jane Smith are the proud and loving parents of 2 children age 15 and 16. At a meeting with their accountant, one of the topics of concern for the family is the large health costs...
Recently, one of my clients explained that their adult son had suffered from mental illness since he was a late teen and they wanted my advice on how they could help him secure his financial future.
Government of Canada information on various registered plans including RRSP and TFSAs