Archive for April 2017
The Biggest Lie in Investing: Protection on the Downside
Imagine for a moment that you’re a small business owner in your late forties. Over the years you’ve worked hard to build up your company; a strip mall that consists of a car wash, gas station, and liquor store. With most of your assets tied up in the small business you don’t have much else in terms of…
Read MoreWeekend Reading: Home Capital Meltdown Edition
Home Capital Group is teetering on bankruptcy after a wild week that saw its shares plunge 65 percent Wednesday. The former dividend darling and sub-prime lender sought out $2 billion in funding just to stay afloat after a run on its bank deposits could leave the company with just over $500 million in cash –…
Read MoreThe Long and Short of it: A Look at Long-Term vs. Short-Term Mortgages
Interest rates have nowhere to go but up. No doubt you’ve heard this line if you’ve bought a home or had to renew your mortgage at some point in the past decade, followed by an eager banker or mortgage broker urging you to “lock-in” now. Most homeowners in Canada prefer fixed rate terms for predictability and…
Read MoreA Financial Success Plan For New Graduates
All across the country, university and college students are finally donning their robes and mortarboards and stepping across the stage to receive their diplomas. It’s an exciting time. For many new graduates, it may be the first real taste of independence – finding a job, a place to live, paying off those student loans. It…
Read MoreWeekend Reading: Rocky Mountain Edition
We spent the last few days in Canmore / Banff enjoying the breathtaking scenery in Kananaskis Country and the Rocky Mountains. The kids loved Afternoon Tea at The Fairmont Banff Springs and the highlight of our trip was taking the Banff Gondola up Sulphur Mountain to check out the 360-degree observation deck, stroll along the ridgetop…
Read MoreFrom The Boomer & Echo Mailbag: The Role Of Fixed Income In A Portfolio
Q. I understand that to have a properly balanced account around half of our investments should be in fixed income products. However, most bonds have a ridiculously low return. GICs are an option, as are high interest savings accounts. Are there better solutions? I know it’s difficult to hold on to low paying fixed income…
Read MoreTry A 30-Day No Spending Challenge
The rule is simple. Cut out all non-essential spending for one month. No dining out. No trips to the craft or home improvement store. No new clothes or gadgets. No movie theatre, local pub, or sports event. Absolutely no credit card purchases. You still need to pay your normal bills – rent or mortgage, utilities,…
Read MoreEaster Weekend Reading
Long weekends for most people are a time to rest and relax with loved ones, maybe get away for a couple of nights to a hotel or out to the cottage. I enjoy R&R as much as the next guy, but for me nothing beats a long weekend to work on my side hustle and make some…
Read MoreTop 3 Cash Back and Travel Rewards Credit Cards for 2017
A credit card with a good travel rewards program can earn you big perks such as free flights and hotel stays, which is why Canadians tend to prefer travel rewards cards over their cash-back cousins. But last year’s Air Miles debacle left customers with a bad taste in their mouths. Sure, earning travel points was easy.…
Read MoreIt’s Time To Overhaul The Finance Industry
Canadians have been abuzz with the news of shady bank practices and the “what’s in a name?” controversy over advisors vs advisers instigated by the CBC. But the real problem is how the entire financial industry is regulated. Provincial regulators need to overhaul the requirements for the financial industry to better protect investors. Sure, they’ve…
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