It happens all the time. A mutual fund has an absolutely fantastic year or two, and new investors pile on the bandwagon, pumping in millions of dollars. Then the fund’s performance slips and... [More...]
For years, standard advice has been to name your spouse as beneficiary of your registered plans. If you die first, your plan can then be rolled to his or hers on a tax-sheltered basis. Otherwise, it... [More...]
If you're offered the convenience of mortgage life insurance from your bank or other lending institution, explore the potential benefits of term life or permanent life insurance first.
Term life offers... [More...]
Older people who think they may need assistance in managing their day-to-day finances often keep money in joint bank and investment accounts with an adult child. That makes it easier for the child to... [More...]
Tuition fees are increasing, making it more important than ever for parents to get a head start on saving for a child’s education. One of the most effective ways to save is with a Registered Education... [More...]
Dividend fund did not attract much notice during the booming 1990s, but are now getting a fresh look from investors. They offer the potential for regular income, tax breaks, and capital gains with... [More...]
The dock, the deck, the roof — whether you do it yourself or hire a professional, keep the receipts. They could mean big tax savings.
Most people will face a capital gain if their property’s value... [More...]
For the past four years, I have been invited to attend a local golf tournament hosted, in part, by a regional chapter of the Institute of Chartered Accountants of Ontario. As my golf partners would be... [More...]
A retirement plan contains a lot of variables. When the investing environ-met changes, should you adjust those variables to keep your plan viable? Consider these possibilities:
Adjust your retirement... [More...]
Critical illness insurance is becoming increasingly popular for Canadians.
Yet despite its rising profile, it’s often confused with disability insurance. The two are quite different.
Let’s look at what... [More...]
Even if your family is small and harmonious, there is potential for conflict when the time comes to distribute your final assets. Indeed, lawyers say family feuds are common after wills are read. A... [More...]
MANY PEOPLE invest in a Guaranteed Investment Certificate (GIC), and simply forget about it until it matures.
There is a better choice, however: staggering the maturity dates of your investments.
If the Canada Customs and Revenue Agency (CCRA) has notified you that you need to pay income tax install-the money is due on the 15th day of March, June, September, and December.
Installments are... [More...]
Most we will use to of us think of our Registered Retirement Savings Plan (RRSP) savings as the money fund our retirement. But what would happen to those savings if your RRSP became part of your... [More...]
Common wisdom among financial analysts holds that investment success depends less on the individual securities you buy than on your strategic asset allocation — how you divide money among the main... [More...]
Most people recognize the valuable role that life insurance plays in protecting their dependants from financial hardship. But what many people don’t know is that some types of life insurance, such as... [More...]
Canadians borrow money every day to buy homes, cars, boats, and a whole host of durable goods. In most cases, we borrow money to buy consumer goods that may not be financially productive. However, we... [More...]
From the time they start a family through their retirement years, most people have an ongoing need for life insurance. In the event of untimely death, insurance proceeds can provide an immediate... [More...]
For many Canadians, their home is one of the largest and most important investments they will make during their lives. Ironically, we spend more time thinking about our mutual fund returns than we do... [More...][More...]
Universal Life is one of the most accommodating, multipurpose products available. The combination of term insurance and tax-exempt (tax-free) savings accumulates to accomplish two very important... [More...]
How do you feel now that you have filed your taxes for 2001?
Most individuals I talk to are disgusted with the incredible amount of taxes we pay each year. However, they meekly accept the fact that... [More...]